(up)Ticky Boo

Two weeks ago, Reuters reported that the SEC was going to consider reinstating the Uptick Rule. Congress may beat them to the punch. On the 16th Edward Kaufman introduced S. 605 (C.R. S3121) which would require the SEC to reinstate the Uptick Rule. The bill has been referred to the Senate Banking Committee. S. 605 would also give long-term investors priority over short sellers, outlaw naked short selling and shorten the share delivery window to three days.