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ARTICLE · 01 MARCH 2010

US SEC Adopts Amendments to Regulation SHO

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On February 24, 2010, the US Securities and Exchange Commission (SEC) adopted amendments to Regulation SHO under the Securities Exchange Act of 1934, aimed at restricting short selling under certain limited circumstances.

United StatesFinance and Banking
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Article by Michael R. Butowsky , Eric J. Finseth and Charles M. Horn

Originally published February 26, 2010

Keywords: US Securities and Exchange Commission, US, SEC, amendments, Regulation SHO, Securities Exchange Act, short selling, NMS stock

On February 24, 2010, the US Securities and Exchange Commission (SEC) adopted amendments to Regulation SHO under the Securities Exchange Act of 1934, aimed at restricting short selling under certain limited circumstances.1 After proposing a number of different short sale controls, the SEC voted 3-2 to adopt the "alternative uptick rule." The rule imposes a limited price test triggered only with respect to individual securities that trip a "circuit breaker," rather than a permanent, market-wide ban or restriction.2

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