FINRA proposes requiring registration of associated persons who develop algorithmic trading strategies

Purpose – To analyze FINRA’s proposal that would require registration with FINRA of associated persons of FINRA-member firms who are primarily responsible for the design, development or significant modification of an algorithmic trading strategy. Design/methodology/approach – This article discusses...

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Bibliographic Details
Published inThe journal of investment compliance Vol. 16; no. 3; pp. 33 - 36
Main Authors Angstadt, Janet M, Foley, Michael T, Pazzol, Ross, Van De Graaff, James D
Format Journal Article
LanguageEnglish
Published Emerald Group Publishing Limited 07.09.2015
Subjects
Accounting & Finance
Financial investment/markets
Algorithmic trading
Automated trading
Broker-dealer
Registration
Financial Industry Regulatory Authority (FINRA)
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Summary:Purpose – To analyze FINRA’s proposal that would require registration with FINRA of associated persons of FINRA-member firms who are primarily responsible for the design, development or significant modification of an algorithmic trading strategy. Design/methodology/approach – This article discusses the rationale and details of the proposed requirements. Findings – If adopted in its current form, the proposed rule-making, particularly when combined with the SEC’s proposed amendments to Rule 15b9-1 under the Securities and Exchange Act, would result in many various individuals who currently are not subject to a FINRA registration requirement, to pass a qualification examination and register. Originality/value – This article contains valuable information about important FINRA rule making activity.
ISSN:1528-5812
1758-7476
DOI:10.1108/JOIC-06-2015-0042