Up the Ladder Reporting Flashcards
1
Q
17 CFR 205.3(a)
A
An attorney representing an issuer owes the organization professional and ethical duties but he is not the attorney for the individuals employed by the company
2
Q
17 CFR 205.3(b)
A
An attorney shall report evidence of a material violation by the issuer - CLO or CEO shall cause an investigation or notify the attorney for the basis of the decision not to investigate - the attorney shall report up the ladder if he believes the response of the CEO was inappropriate
