The uptick rule aimed to prevent short sales from causing or exacerbating market price declines.

The letter reads, "I have been interested in proposing an updated uptick rule.

One empirical study found no statistically significant link between the uptick rule and the rates of price decline.

No evidence has emerged that the uptick rule was subverted, he said.

These included the "uptick rule," which prohibits short sales when the price of a stock is in decline.

Stocks freed from the uptick rule had shown no greater vulnerability to momentum selling than the control group.

Under the proposed new rules, the short-sale uptick rule would be suspended.

A pilot program that exempted some companies from the so-called uptick rule starting in 2005 drew little attention.

The futures market didn't have an uptick rule.

On March 29, they sold 3.7 million shares in London, where the uptick rule does not apply.