PlainBillCongress, translated.Legislation. Context. Public interest.Sponsor introductory remarks on measure. (CR S3636-3539)
Congressional Research Service
Version 00 · Introduced in Senate · Mar 16, 2009
Directs the Securities and Exchange Commission (SEC) to take specified actions to regulate short sales of securities, including: (1) reinstating regulations in effect on July 5, 2007, prohibiting short sales of securities unless the previous price movement on such securities had been upward (the uptick rule); (2) rescinding the prohibition against applying certain price tests to short sales; (3) requiring trades by short sellers to yield priority and preference to transactions effected by long sellers of securities; (4) prohibiting short sales of securities of financial institutions unless such trades are effected at a price (in minimum lots, as specified by the SEC) that is at least 5 cents higher than the immediately preceding transaction in such securities; and (5) issuing regulations that prohibit short sales unless the seller can demonstrate a legally enforceable right to deliver the securities at the required delivery date and that require all short sales to settle on the same time frame employed for long sales of the same securities.
People & committees
Sen. Kaufman, Edward E. [D-DE] · D–DE
Legislative record
A procedural vote is different from passage. Passage in one chamber does not establish enactment. Explore the glossary.
Sponsor introductory remarks on measure. (CR S3636-3539)
Referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S3121)
Sponsor introductory remarks on measure. (CR S3120-3121, S3121)
Introduced in Senate
Primary sources
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Source last updated: Jan 14, 2025. Consult Congress.gov for the current record.
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