Wednesday, March 11, 2009

Short Selling: SEC considers reintroducing the "Up-Tick Rule"

As reported by MarketWatch, House Financial Services Committee Chairman Barney Frank (D-Mass) announced that he expects the SEC to introduce a draft rule to reinstate the "up-tick rule" next month. The "up-tick rule," which was removed last year, permitted a short sale of a company's stock only when the last sale price was higher than the previous one.