SEC Issues Final Rule Regarding Responsibilities of the SEC's General Counsel
The SEC has issued a rule amendment regarding the duties of the SEC's General Counsel. The amendment adds language, to Part 200 of Title 17 of the Code of Federal Regulations, which specifies that the SEC's General Counsel is responsible for providing advice to SEC attorneys on professional responsibility issues relating to their official duties, investigating allegations of professional misconduct by SEC staff and, where appropriate, making referrals to state professional boards or societies. Additionally, the amendments include several minor corrections to provisions that relate to the responsibilities of the Ethics Counsel. The rule will become effective upon publication in Federal Register.