[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[H.R. 302 Introduced in House (IH)]

111th CONGRESS
  1st Session
                                H. R. 302

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


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                    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.

    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 CFR 
        240.10a-1);
            (2) rescind rule 201 of regulation SHO (17 CFR 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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