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bill Progress


  • Not enacted
    The President has not signed this bill
  • The senate has not voted
  • The house has not voted
      house Committees
      House Committee on Financial Services
    IntroducedMarch 10th, 2009

Bill Details

Official information provided by the Congressional Research Service. Learn more or make a suggestion.
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Title

Stock Market Recovery Act of 2009

Official Title

To direct the Securities and Exchange Commission to reinstate the "uptick rule" on short sales of securities and to suspend the application of mark-to-market accounting principles.

Summary

Stock Market Recovery Act of 2009 - Directs the Securities and Exchange Commission (SEC) to: (1) reinstate rule 10a-1 (the "uptick rule," which prevents new short sales of a company's stock while its share price is falling); (2) rescind rule 201 of regulation SHO (which declares any short sale price test inapplicable to short sales in any security); and (3) reinstate price test restrictions that applied to short sales of securities before SEC action in a specified proceeding entitled "Regulation SHO and Rule 10a-1," adopted June 28, 2007. Directs the SEC to suspend the application of mark-to-market accounting principles with respect to any class or category of transaction necessary or appropriate in the public interest and consistent with the protection of investors.