SEC Proposes Uptick Rule Among Short-Selling Fixes

Law360, New York (April 8, 2009, 12:00 AM EDT) -- The U.S. Securities and Exchange Commission submitted five proposals aimed at limiting short-selling — including reinstating the uptick rule — at a public hearing Wednesday, sending them out for public comment by a unanimous vote.

The move was widely expected, with SEC Chairwoman Mary L. Schapiro saying earlier in the week that the proposals were coming. At the hearing Wednesday, Schapiro said the commission would take the comments it receives on the proposals seriously given the heated debate surrounding the practice.

They include the reinstatement of...
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