Securities Lawyer's Deskbook                          published by The University of Cincinnati College of Law

Rule 4-- Responsibilities of Supervisory Attorneys

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1. 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.
   
   
2. A supervisory attorney shall make reasonable efforts to ensure that a subordinate attorney, as defined in Rule 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.
   
   
3. A supervisory attorney is responsible for complying with the reporting requirements in Rule 3 when a subordinate attorney has reported to the supervisory attorney evidence of a material violation.
   
   
4. A supervisory attorney who has received a report of evidence of a material violation from a subordinate attorney under Rule 3 may report such evidence to the issuer's qualified legal compliance committee if the issuer has duly formed such a committee.
   
   

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