Part 205

Standards Of Professional Conduct For Attorneys Appearing and Practicing Before the Commission in the Representation
of an Issuer

Rule 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 Sec. 205.3 if the subordinate attorney reports to his or her supervising attorney under Sec. 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 Sec. 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 Sec. 205.3(b) has failed to comply with Sec. 205.3.