H.R. 6517, To require the Securities and Exchange Commission to reinstate the uptick rule on short sales of securities

• This item is from the 110th Congress (2007-2008) and is no longer current. Comments, voting, and wiki editing have been disabled, and the cost/savings estimate has been frozen.
• This bill, or a similar bill, was reintroduced in the current Congress as H.R. 302, To require the Securities and Exchange Commission to reinstate the uptick rule on short sales of securities.

Version saved on October 14, 2008, 19:33:16, by webmaster:

H.R. 6517 would require the Securities and Exchange Commission to reinstate the uptick rule on short sales of securities.

Detailed Summary

Directs the Securities and Exchange Commission (SEC) to: (1) reinstate rule 10a-1 (the uptick rule) governing short sales of securities; (2) rescind the prohibition against applying certain price tests to short sales; and (3) reinstate price test restrictions that applied to short sales of securities prior to SEC action in a specified proceeding on June 28, 2007.

Status of the Legislation

Latest Major Action: 7/16/2008: Referred to House committee. Status: Referred to the House Committee on Financial Services.

Points in Favor

(Log in to edit the wiki and be the first to show why the bill should pass!)

Points Against

(Log in to edit the wiki and be the first to show why the bill should not pass!)

« Return to Revision History.