Elimination of The Uptick Rule
The SEC eliminated the uptick rule on July 6, 2007. The SEC concluded from the study cited above: "The general consensus from these analyses and the roundtable was that the Commission should remove price test restrictions because they modestly reduce liquidity and do not appear necessary to prevent manipulation. In addition, the empirical evidence did not provide strong support for extending a price test to either small or thinly-traded securities not currently subject to a price test." Commenting on the scrapping of the uptick rule, The Economist reported that "short-sellers argue was largely symbolic, and it remains in place at only a few of the world's big stock exchanges."
Read more about this topic: Uptick Rule
Famous quotes containing the words elimination of, elimination and/or rule:
“To reduce the imagination to a state of slavery—even though it would mean the elimination of what is commonly called happiness—is to betray all sense of absolute justice within oneself. Imagination alone offers me some intimation of what can be.”
—André Breton (1896–1966)
“To reduce the imagination to a state of slavery—even though it would mean the elimination of what is commonly called happiness—is to betray all sense of absolute justice within oneself. Imagination alone offers me some intimation of what can be.”
—André Breton (1896–1966)
“The first rule of education for me was discipline. Discipline is the keynote to learning. Discipline has been the great factor in my life. I discipline myself to do everything—getting up in the morning, walking, dancing, exercise. If you won’t have discipline, you won’t have a nation. We can’t have permissiveness. When someone comes in and says, “Oh, your room is so quiet,” I know I’ve been successful.”
—Rose Hoffman, U.S. public school third-grade teacher. As quoted in Working, book 8, by Studs Terkel (1973)