FINRA Expands Registration Requirements for Employees Responsible for Algorithmic Trading (Fed. Reg.)

The Federal Register published an SEC order approving FINRA's proposal to amend NASD Rule 1032. The approved change expands Rule 1032's registration requirement to specify that associated persons who are (i) primarily responsible for the design, development or significant modification of algorithmic trading strategies or (ii) responsible for the day-to-day supervision or direction of such activities, must register as Securities Traders with FINRA.