Type:Notice
Citation:90 FR 10841
Reading Time:about 4 minutes
The Securities and Exchange Commission (SEC) is requesting public comments on information collection related to rules for attorney conduct when representing companies. These rules require attorneys to report evidence of significant violations to the company's higher-ups or the SEC. The SEC aims to reinstate an approved process, which involves creating a legal committee when needed for reporting. The public is invited to comment on the necessity and burden of this reporting by March 31, 2025.
Simple Explanation
The SEC wants to make sure that lawyers tell someone if they see a company doing something wrong. They are asking people to say what they think about this plan by the end of March 2025.