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Title 17: Commodity and Securities Exchanges
CHAPTER II: SECURITIES AND EXCHANGE COMMISSION
PART 205: STANDARDS OF PROFESSIONAL CONDUCT FOR ATTORNEYS APPEARING AND PRACTICING BEFORE THE COMMISSION IN THE REPRESENTATION OF AN ISSUER
205.5 - Responsibilities of a subordinate attorney.(a) An attorney who appears and practices before the Commission in the representation of an issuer on a matter under the supervision or direction of another attorney (other than under the direct supervision or direction of the issuer's chief legal officer (or the equivalent thereof)) is a subordinate attorney.
(b) A subordinate attorney shall comply with this part notwithstanding that the subordinate attorney acted at the direction of or under the supervision of another person.
(c) A subordinate attorney complies with ? 205.3 if the subordinate attorney reports to his or her supervising attorney under ? 205.3(b) evidence of a material violation of which the subordinate attorney has become aware in appearing and practicing before the Commission.
(d) A subordinate attorney may take the steps permitted or required by ? 205.3(b) or (c) if the subordinate attorney reasonably believes that a supervisory attorney to whom he or she has reported evidence of a material violation under ? 205.3(b) has failed to comply with ? 205.3.
