Reuters ahead with SEC options for curbing short selling

Reuters exclusively reported on April 6 the SECs proposals to restrict short selling — plans that would have wide implications for investors, broker dealers, traders and the exchanges. Reuters was first with news that the SEC was expected to propose an updated uptick rule that would be applied to all stocks and a bid-test, which would only allow shorting if the price was higher than the last available bid. Reuters was also first to report that the SEC would propose two types of circuit breakers to curb short selling if a stock dropped by 10 percent. Dow Jones and Bloomberg could not match the story for two days and had to wait until the SECs formal meeting on Wednesday to obtain the information