On June 6, the Financial Industry Regulatory Authority released Regulatory Notice 16-21, which announced the Securities and Exchange Commission’s approval of an amendment to NASD Rule 1032(f). Under amended NASD Rule 1032(f), each associated person primarily responsible for the design, development or significant modification of an algorithmic trading strategy, or the day-to-day supervision or direction of such activities, will be required to pass the Series 57 examination and register with FINRA as a “Securities Trader.” (For a discussion of the proposed amendment to NASD Rule 1032(f), see the February 18 Client Advisory). The new registration requirements will become effective on January 30, 2017.

Regulatory Notice 16-21 is available here.