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SEC Approves Short Selling Restrictions


FOR IMMEDIATE RELEASE
2010-26

Video: Open Meeting

Chairman Schapiro Discusses Short Selling:
Windows Media Player
QuickTime Text of Chairman's Statement

This alternative uptick rule is designed to restrict short selling from further driving down the price of a stock that has dropped more than 10 percent in one day. It will enable long sellers to stand in the front of the line and sell their shares before any short sellers once the circuit breaker is triggered.

"The rule is designed to preserve investor confidence and promote market efficiency, recognizing short selling can potentially have both a beneficial and a harmful impact on the market," said SEC Chairman Mary L. Schapiro. "It is important for the Commission and the markets to have in place a measure that creates certainty about how trading restrictions will operate during periods of stress and...


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