The Securities and Exchange Commission approved a rule proposal by the Financial Industry Regulatory Authority to require the registration of personnel at member firms who are principally responsible for the design, development or material amendment of algorithmic trading strategies, or who are responsible for supervising or directing such activity. Such persons would have to register as securities traders, a new category of registration — albeit similar in concept to the current equity trader registration category, although this distinct category would be eliminated under FINRA’s proposal. FINRA is now obligated to publish its final rule by June 6, 2016. The effective date of the final rule would be no sooner than 180 days after the publication. (Click here for details of FINRA’s new rule proposal in the September 20, 2016 edition of Bridging the Week.)