Michael T. Foley, Janet M. Angstadt, Ross Pazzol and James D. Van De Graaff
To analyze a recently approved FINRA rule amendment that will require registration with FINRA of associated persons of FINRA-member firms who are primarily responsible for the…
Abstract
Purpose
To analyze a recently approved FINRA rule amendment that will 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
The amended FINRA rule, particularly when combined with the SEC’s proposed amendments to Rule 15b9-1 under the Securities and Exchange Act of 1934, will result in many 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.
Details
Keywords
Janet M. Angstadt, Michael T. Foley, Ross Pazzol and James D. Van De Graaff
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…
Abstract
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.