SEC Open Meeting Agenda
|Item 1:||Implementation of Standards of Professional Conduct for Attorneys|
Office: Office of the General Counsel
Staff: Meyer Eisenberg, Richard M. Humes, Samuel M. Forstein, Timothy N. McGarey, Edward C. Schweitzer
The Commission will consider a proposed rule establishing standards of professional conduct for attorneys who appear and practice before the Commission in any way in the representation of issuers. Section 307 of the Sarbanes-Oxley Act of 2002 directs the Commission to issue a rule requiring an attorney to report "evidence of a material violation of securities laws or breach of fiduciary duty or similar violation by the company or any agent thereof" to the chief legal counsel or the chief executive officer of the company (or the equivalent); and, if they do not respond appropriately to the evidence, requiring the attorney to report the evidence to the audit committee, another committee of independent directors, or the full board of directors.
For further information, please contact Timothy N. McGarey at (202) 942- 0914 or Edward C. Schweitzer at (202) 942-0823.
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