- Not enactedThe President has not signed this bill
- The senate has not voted
- The house has not voted
House Committee on Financial ServicesIntroducedMarch 10th, 2009
- house Committees
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Stock Market Recovery Act of 2009
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.
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.