Proposed Rule Change to FINRA Definition of Lawyer (with Lofchie Comment)

FINRA has filed with the SEC the attached proposed rule change to amend FINRA Rule 9120 (Definitions) to add the term "Chief Legal Officer" to the definition of "General Counsel".

Lofchie Comment: After I read this rule change, I did some research on the internet on unusual job titles and saw how far behind the market that lawyers are in having cool titles. Just think about the way that associates are labeled as "first year," "second year," "third year," and so on. It would be much more vivid if each class year were associated with an animal, a plant, a comic book character, or, in the case of tax lawyers, a philosopher. A first year tax lawyer might be a Peter Singer and then a tax lawyer could work his/her way up to Karl Popper and ultimately Nietzsche.

Click here to view text of the proposed rule change (links externally to FINRA website).