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HR 1406 111th Congress House Finance and Financial Sector Accounting and auditing Administrative law and regulatory procedures Banking and financial institutions regulation Financial services and investments Securities Securities and Exchange Commission (SEC)

Stock Market Recovery Act of 2009

Introduced: March 10, 2009 See on congress.gov
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 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 10, 2009
Referred to the House Committee on Financial Services.
Mar 10, 2009
Sponsor introductory remarks on measure. (CR H3112, E613-614)
Mar 10, 2009
Introduced in House
 Plain-English summary Congressional Research Service

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.

What's happening now March 10, 2009

Referred to the House Committee on Financial Services.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Republican 1