[Congressional Bills 110th Congress]
[From the U.S. Government Publishing Office]
[H.R. 6517 Introduced in House (IH)]







110th CONGRESS
  2d Session
                                H. R. 6517

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


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             July 16, 2008

 Mr. Ackerman (for himself, Mrs. Maloney of New York, and Mr. Capuano) 
 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.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. REINSTATEMENT REQUIRED.

    Within 90 days after the date of enactment of this Act, the 
Securities and Exchange Commission shall--
            (1) reinstate rule 10a-1 of the Commission's rules (17 
        C.F.R. 240.10a-1);
            (2) rescind rule 201 of regulation SHO (17 C.F.R. 242.201); 
        and
            (3) 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).
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