[Code of Federal Regulations]
[Title 17, Volume 2]
[Revised as of April 1, 2003]
From the U.S. Government Printing Office via GPO Access
[CITE: 17CFR205.4]

[Page 228]
 
              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--Table of Contents
 
Sec. 205.4  Responsibilities of supervisory attorneys.

    (a) An attorney supervising or directing another attorney who is 
appearing and practicing before the Commission in the representation of 
an issuer is a supervisory attorney. An issuer's chief legal officer (or 
the equivalent thereof) is a supervisory attorney under this section.
    (b) A supervisory attorney shall make reasonable efforts to ensure 
that a subordinate attorney, as defined in Sec. 205.5(a), that he or she 
supervises or directs conforms to this part. To the extent a subordinate 
attorney appears and practices before the Commission in the 
representation of an issuer, that subordinate attorney's supervisory 
attorneys also appear and practice before the Commission.
    (c) A supervisory attorney is responsible for complying with the 
reporting requirements in Sec. 205.3 when a subordinate attorney has 
reported to the supervisory attorney evidence of a material violation.
    (d) A supervisory attorney who has received a report of evidence of 
a material violation from a subordinate attorney under Sec. 205.3 may 
report such evidence to the issuer's qualified legal compliance 
committee if the issuer has duly formed such a committee.