Not a word in the following about naked short selling. Schwab is in print wanting the uptick rule restored. Not hard to guess what JPMorgan thinks.

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By Sarah N. Lynch

Of DOW JONES NEWSWIRES

WASHINGTON (Dow Jones)--Regulators, academics and representatives from major companies will converge at the Securities and Exchange Commission Tuesday morning to discuss the agency's five proposed rules to limit short-selling.

The short-selling roundtable will consist of three panels, which will be comprised of speakers from companies including Fidelity Investments, Credit Suisse Group (CS), General Electric Co. (GE), Charles Schwab Corp. (SCHW), NYSE Euronext (NYX) and JPMorgan Chase & Co. (JPM), among others.

The panelists will discuss the SEC's various short-selling proposals, which were unveiled in April.

Two of the proposals on the table would impose market-wide restrictions, while another three would target only particular stocks.

The market-wide proposals are similar to the now-defunct "uptick" and "bid-test" rules, which were abolished in 2007 after economic studies found they had little impact. The uptick rule would prevent traders some selling short unless the price of a stock from the most recent trade is higher than the previous price. The bid-test rule, meanwhile, would prevent short-selling at a price below the best market price for a stock.

The SEC has also proposed taking a look at three variations of a "circuit-breaker" rule, which would trigger short-selling restrictions if a particular security declines by 10% in a single trading day.

One of the circuit-breaker proposals would trigger an uptick limit for the day while another circuit-breaker proposal would trigger a bid-test trading restriction. The third circuit-breaker proposal would trigger a day-long trading ban in a particular security.

The SEC has been under a great deal of political pressure in recent months amid fears that the lack of an uptick rule has led to increased short-selling and exacerbated the financial crisis.

To date, there is no empirical evidence that the lack of such a rule has fueled the market volatility.

The third panel Tuesday, comprised of academics from Columbia University, Georgetown University, Ohio State University and representatives from Nasdaq OMX (NDAQ) and Sonecon LLC, will discuss what evidence, if any, might demonstrate the need to impose additional short-sale restrictions.

-By Sarah N. Lynch, Dow Jones Newswires; 202-862-6634; sarah.lynch@dowjones.com

http://online.wsj.com/article/BT-CO-...