By Rachelle Younglai and Jeremy Pelofsky
March 10, 2009
WASHINGTON (Reuters) - U.S. Regulators will consider reviving the "uptick" restriction on short-sellers of stocks and a top monetary official lent his support on Tuesday to modifying an accounting rule that has forced banks to take billions of dollars in writedowns.
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The uptick rule, adopted after the 1929 stock market crash, allowed short sales only when the last sale price was higher than the previous price. The SEC abolished the rule in 2007, after concluding that advances in trading strategies rendered it ineffective.
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see http://www.boston.com/business/articles/2009/03/10/uptick_rule_may_return_mark_to_market_changes_seen/ for full story.
Tuesday, March 10, 2009
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