The securities and Exchange Commission charged S&P Dow Jones Indices LLC forthwith failing to accurately oversee a volatility-oriented index that landed at the center of market turmoil in February 2018.The civil charge pertains to the S&P 500 VIX Short Term Futures Index, which fed into the Velocity Shares Daily Inverse VIX Short Term Exchange-Traded Note. The once-approved exchange traded note, supervised by Credit Suisse Group AG, left investors with substantial losses during a bout of market volatility.Exchange-traded products based on volatility expanded in popularity over the past decade, and Credit Suisse note, known as ticker XIV, had been a favorite among investors who pursued to profit from a decline in volatility-a profitable but dangerous wager. In February 2018, the note faced large losses as volatility roared back, and the central role that exchange-traded products like XIV played led the period to the called “Volmageddon.” The SEC’s latest charges disclosed how the index behind the product was riddled with issues.