The Financial Industry Regulatory Authority has proposed 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. FINRA proposes to eliminate the current equity trader registration requirement and require both persons currently deemed equity traders as well as principal algorithmic trading program developers and supervisors to take a newly developed examination (Series 57) and qualify as securities traders. According to the relevant FINRA notice, “robust supervisory procedures, both prior to and after deployment of an algorithmic trading strategy, is a key component in protecting against problematic behavior stemming from algorithmic trading. FINRA believes that an individual qualification and educational requirement … would help improve regulatory compliance.” FINRA claims it is only seeking to register the most senior personnel involved in developing and supervising algorithmic trading programs, and not “junior developers and others who solely write code … at the direction of another.” Comments are due by May 18.