Regulatory Alerts2026-06-10
Call for Feedback on the Final Draft Guidelines for Legal Practitioners/Lawyers Providing Professional Services in the Capital Market
The Securities and Exchange Commission (SEC) has issued Draft Guidelines for legal practitioners and lawyers providing professional services to client firms and public companies within the Capital Market. These guidelines mandate that legal professionals register annually with the SEC, hold a valid practicing license, possess professional indemnity insurance, and adhere to specific conduct rules, with an effective date of January 31, 2026. The document also details the scope of legal functions, grounds for suspension or cancellation of registration, and sanctions for non-compliance, including potential actions under the Securities Industry Act, 2016.
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