Some traders, including legendary money manager Leon Cooperman, are known to argue during market downturns that the SEC should re-institute the original uptick rule because doing do will reduce volatility.
That seems unlikely to happen. Brett Redfearn, the official who runs the SEC division that oversees stock trading, told CNBC in a December 2018 interview that the uptick rule didn’t work.
--With assistance from Ben Bain and Nick Baker.
This article was provided by Bloomberg News.