SEC seeks comment on uptick rule on short sales

Posted on April 9, 2009

On April 8, 2009, the U.S. Securities and Exchange Commission voted to seek public comment on proposals to impose short sale price restrictions or circuit breaker restrictions and “whether such measures would help promote market stability and restore investor confidence.” The introduction of an uptick rule would be permanent and market-wide, while a "circuit breaker" would limit short selling for particular securities for the remainder of the day in the case of a severe decline in the security’s price. The SEC plans to publish the full text of the full proposals as soon as possible.

The proposals are now available here.

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Canadian Securities Law Online - April 17, 2009 9:39 AM
As recently announced, the SEC has now published its proposals with respect to restrictions on short sales. The options being considered include a short sale price test and a "circuit breaker" approach. The SEC is accepting comments on the pr...
Canadian Securities Law Online - August 21, 2009 9:38 AM
On August 17, 2009, the U.S. Securities and Exchange Commission re-opened the comment period on its proposals respecting short sales first published in April. The comment period was extended to allow for supplemental comments on an alternative uptick r...
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