Pennsylvania Code & Bulletin
COMMONWEALTH OF PENNSYLVANIA

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The Pennsylvania Code website reflects the Pennsylvania Code changes effective through 52 Pa.B. 7348 (November 26, 2022).

10 Pa. Code § 401.020. Professional responsibility.

§ 401.020. Professional responsibility.

 For the purposes of any action or proceeding initiated by the Department, under 2 Pa.C.S. §  503 (relating to discipline), 1 Pa. Code §  31.28 (relating to suspension and disbarment) or under any other applicable rules of practice adopted by the Department, the phrase “act, practice or course of business” as used in this chapter shall include a statement, opinion, report or service by an attorney, accountant, engineer, appraiser or other professional person who examines, gives or produces a statement, opinion, report or service if the professional person knew or in the exercise of reasonable care should have known that the statement, opinion, report or service materially aided or abetted a violation of the act or the regulations adopted thereunder.

Authority

   The provisions of this §  401.020 amended under section 202.C of the Department of Banking and Securities Code (71 P.S. §  733-202.C); section 609(a) of the Pennsylvania Securities Act of 1972 (70 P.S. §  1-609(a)); and section 9(b) of the Takeover Disclosure Law (70 P.S. §  79(b)).

Source

   The provisions of this §  401.020 adopted April 26, 1975, effective April 27, 1975, 5 Pa.B. 980; transferred and renumbered from 64 Pa. Code §  401.020, December 14, 2012, effective December 15, 2012, 42 Pa.B. 7533; amended January 12, 2018, effective January 13, 2018, 48 Pa.B. 389. Immediately preceding text appears at serial pages (364781) to (364782).

Cross References

   This section cited in 10 Pa. Code §  609.010 (relating to use of prospective financial statements).



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