I
111th CONGRESS
1st Session
H. R. 302
IN THE HOUSE OF REPRESENTATIVES
January 8, 2009
Mr. Ackerman (for himself, Mrs. Maloney, Mr. Weiner, Mr. Capuano, Mrs. McCarthy of New York, Mrs. Lowey, and Mr. Perlmutter) introduced the following bill; which was referred to the Committee on Financial Services
A BILL
To require the Securities and Exchange Commission to reinstate the uptick rule on short sales of securities.
Reinstatement required
Within 90 days after the date of enactment of this Act, the Securities and Exchange Commission shall—
reinstate rule 10a–1 of the Commission’s rules (17 CFR 240.10a–1);
rescind rule 201 of regulation SHO (17 CFR 242.201); and
take such other actions as may be necessary
to reinstate the price test restrictions that applied to short sales of
securities prior to the Commission’s action in the proceeding entitled
Regulation SHO and Rule 10a–1
, adopted June 28, 2007 (Release
No. 34–55970; File No. S7–21–06).