Securities and Exchange Commission’s Final Rule Implementing Standards of Professional Conduct for Attorneys
- Topics:
- Investor Relations
- Tags:
- Act,
- Attorney,
- Commission,
- Sales,
- Sales Force Management,
- SEC,
- Standards
- Source:
- Manatt, Phelps & Phillips
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Overview: The article define the act provision for investor relations, It explains about the Securities and Exchange Commission issued final regulations to implement provisions of Section 307 of the Sarbanes-Oxley Act of 2002 (H.R. 3763), prescribing minimum standards of professional conduct for attorneys appearing and practicing before the Commission in any way in the representation of issuers. The Act requires the Commission to adopt a rule obligating an attorney to report evidence of a material violation of securities laws or breach of fiduciary duty or similar violation by the issuer up-the-ladder within the company. The Final Rules apply to “attorneys” “appearing and practicing” before the Commission “in the representation of an issuer.” They apply whether the attorney is in-house or outside counsel. The Commission defines the terms “attorney,” “appearing and practicing,” and “in the representation of an issuer” as follows: “attorney” means any person who is admitted, licensed, or otherwise qualified to practice law in any jurisdiction, domestic or foreign, or who holds himself or herself out as admitted, licensed, or otherwise qualified to practice law.
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Format: PDF | Size: 176KB | Date: Sep 2003 | Pages: 14
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