Shorts Exposed

[Dragonwing]

SEC Expected To Vote On Short Sale Rule Feb 24


WASHINGTON -(Dow Jones)- The U.S. Securities and Exchange Commission is scheduled to vote Wednesday, Feb. 24 on final rules to rein in short selling.

The SEC has asked for comments on whether it should reinstate a short selling restriction known as the "uptick" rule, in which investors can only short a stock after it rose or ticked higher.

Regulators and industry insiders agree that the previous uptick rule isn't workable with current lightening speed trades. But the SEC is expected to approve a modified rule designed to put a stop to short selling as stocks are falling. That rule will be the next major action taken by the SEC.

SEC is considering whether the short selling rule should be market-wide or apply just to individual securities that are seeing a downturn.


http://www.nasdaq.com/aspx/stock-market-news-story.aspx?storyid=201002191609dowjonesdjonline000575&title=sec-expected-to-vote-on-short-sale-rule-feb-24