May 8, 2009
I strongly urge the SEC to re-instate the "Uptick Rule" and vigorously prosecute those who attempt to circumvent it. This means do NOT allow exemptions or loopholes that can be exploited.
I believe that this rule provided a relatively simple check that was in place for nearly seventy years, and it helped serve the markets well in balancing various participants' interests.
I therefore urge the SEC to reinstate such a price test rule, and specifically would urge a plus tick rule over other alternatives.
Regards,
Gary Lehnertz