H.R.1406 - Stock Market Recovery Act of 2009

To direct the Securities and Exchange Commission to reinstate the "uptick rule" on short sales of securities and to suspend the application of mark-to-market accounting principles. view all titles (2)

All Bill Titles

  • Short: Stock Market Recovery Act of 2009 as introduced.
  • Official: To direct the Securities and Exchange Commission to reinstate the "uptick rule" on short sales of securities and to suspend the application of mark-to-market accounting principles. as introduced.

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Introduced
 
House
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Senate
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President
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03/10/09
 
 
 
 
 
 
 

Official Summary

Stock Market Recovery Act of 2009 - Directs the Securities and Exchange Commission (SEC) to: (1) reinstate rule 10a-1 (the \"uptick rule,\" which prevents new short sales of a company's stock while its share price is falling); (2) rescind rule 201 of regulation SHO (which declares any

Official Summary

Stock Market Recovery Act of 2009 - Directs the Securities and Exchange Commission (SEC) to:
(1) reinstate rule 10a-1 (the \"uptick rule,\" which prevents new short sales of a company's stock while its share price is falling);
(2) rescind rule 201 of regulation SHO (which declares any short sale price test inapplicable to short sales in any security); and
(3) reinstate price test restrictions that applied to short sales of securities before SEC action in a specified proceeding entitled \"Regulation SHO and Rule 10a-1,\" adopted June 28, 2007. Directs the SEC to suspend the application of mark-to-market accounting principles with respect to any class or category of transaction necessary or appropriate in the public interest and consistent with the protection of investors.

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