Emily advises her clients as they navigate complexities inherent in the securities-regulatory environment. Drawing on her wealth of experience as a regulator, she handles a wide range of compliance and enforcement issues affecting broker-dealers, fintech companies, investment advisers, investment companies, and municipal securities dealers.
Emily has extensive anti-money laundering (AML) experience. At the Financial Industry Regulatory Authority (FINRA), she was involved in development of key AML regulatory guidance issued by FINRA and regularly coordinated with the Securities & Exchange Commission (SEC) staff on responding to developing issues in the AML space. Emily also served as FINRA’s liaison to the Bank Secrecy Act Advisory Committee (BSAAG), a key Treasury, financial regulator, and industry AML advisory group. Emily also advised on AML issues arising in examinations and enforcement cases. While in-house at a large broker-dealer/investment adviser, Emily advised the AMLCO and various AML Committees on a variety of KYC/CIP and SAR policy issues. In her current practice, Emily has advised broker-dealers/investment advisers, banks, and Fintech companies on a variety of AML issues.
Emily also has extensive experience in a variety of other SEC/FINRA regulatory areas, including, among others, Regulation Best Interest, supervision, conflicts of interest, suitability, disclosure, books and records, and registration and licensing issues, including statutory disqualifications. While at FINRA, Emily also provided guidance on privacy regulatory obligations and enforcement cases involving data breaches. As in-house counsel, she provided counsel on the firm’s data privacy and security efforts, advising on compliance measures, incident response, and regulatory examinations.
Having spent over twenty-seven years at the SEC and FINRA, Emily is also well-versed in the examination and enforcement practices, policies, and expectations of financial services regulators.
Prior to joining McGuireWoods, Emily served as Deputy General Counsel, Executive Vice President for one of the largest retail investment broker-dealer/investment advisory firms. Prior to going in-house, Emily served in a variety of senior management positions within FINRA’s Enforcement and Member Supervision Departments, at one point serving as Deputy Head of Enforcement. At the SEC, Emily served as Deputy Chief Counsel of the Division of Enforcement.
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Gettysburg CollegeBA
magna cum laude
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American University Washington College of LawJD
cum laude
Selected for inclusion in The Best Lawyers in America, Securities Regulation, Woodward/White, Inc.,2024
Selected for inclusion in America’s Leading Lawyers for Business, Financial Services Regulation: Broker Dealer (Enforcement), Nationwide,, Chambers USA, 2023
Honoree, National Law Journal’s Regulatory & Compliance Trailblazer, 2015
NASD/NYSE Integration Team Award, Financial Industry Regulatory Authority, 2007
Award for Collaboration and Shared Commitment — First Recipient of the Susan Lewis Award, National Association of Securities Dealers, 2005
President’s Award (AML), National Association of Securities Dealers, 2002
Supervisory Excellence Award, Securities Exchange Commission, 1994
- Author, FinCEN Extends Time to File Beneficial Ownership Information for Entities Created After January 1, 2024, Subject to Inquiry, November 29, 2023
- Author, FinCEN Specifies When and How Reporting Companies May Use FinCEN Identifiers, Subject to Inquiry, November 13, 2023
- Author, Beneficial Ownership Reporting Requirements Under the Corporate Transparency Act, Subject to Inquiry, November 2, 2023
- Author, SEC Issues Risk Alert on Reg BI Deficiencies Identified During Exams, McGuireWoods Legal Alert, February 2, 2023
- Quoted, "Finra Sanctions Reform Means Larger Firms Could See Tougher Penalties", Investment News, September 30, 2022
- Quoted, "Big BDs Could Face Heftier Fines Under New FINRA Rules", Think Advisor, September 30, 2022
- Quoted, "Finra Spells Out Penalties for Anti-Money-Laundering Violations", The Wall Street Journal, September 29, 2022
- Quoted, "FINRA Cheating Cases Put Remote Test-Takers On Notice", Law360, July 15, 2022
- Author, FINRA Releases 2022 Report on Examination and Risk Monitoring Program, McGuireWoods Legal Alert, March 15, 2022
- Author, SEC Focus on Private Fund Advisers Continues With the Publication of EXAMS Risk Alert, Subject to Inquiry, January 31, 2022
- Author, SEC’s Continuing Focus on Advisory Fees Reflected in EXAMS Risk Alert, Chair Gensler’s Comments, Subject to Inquiry, November 15, 2021
- Author, FINRA Reminder: Broker-Dealers Should Not Forget to Supervise Third-Party Vendors, Subject to Inquiry, August 24, 2021
- Author, SEC Announces 2021 National Examination Priorities, Subject to Inquiry, March 4, 2021
- Author, New Year, Old Problem: Broker-Dealers Should Evaluate Their Supervision of Personal Device Use, McGuireWoods Legal Alert, February 9, 2021
- Author, Consolidated Financial Account Reports and Use of Vendors: FINRA Continues Regulatory Scrutiny, Subject to Inquiry, February 2, 2021
- Author, SEC Takes Another Step to Prioritize Fintech Innovation, Consumer FinSights, December 7, 2020
- Author, Pitfalls to Avoid in Investment Adviser Compliance Programs: SEC OCIE Risk Alert, Subject to Inquiry, November 24, 2020
- Author, OCIE Finds Supervision Failures at Multiple-Branch Office Investment Advisers, Subject to Inquiry, November 18, 2020
- Author, Yet Another Mutual Fund Fee Issue or “Death by a Thousand Cuts”: FINRA Sweep of Rights of Reinstatement Waivers, Subject to Inquiry, November 17, 2020
- Author, 2020 NASAA Fintech and Cybersecurity Symposium — Key Comments, Consumer FinSights, November 2, 2020
- Author, "What Investment Advisers and Broker-Dealers Should Expect After the First Wave of COVID-19", Corporate Counsel Business Journal, September 4, 2020
- Author, Recent SEC and FINRA Guidance to Impact Firms’ COVID-19 — and Post-COVID-19 — Operations, McGuireWoods Legal Alert, August 26, 2020
- Author, New FINRA Guidance to Help Firms Prepare for LIBOR Transition, LIBOR Transition Blog, August 10, 2020
- Author, SEC and FINRA Officials Speak: Regulators Discuss Enforcement, Regulatory Priorities, McGuireWoods Legal Alert, May 26, 2020
- Author, SEC and FINRA Officials Speak: Regulators Discuss Enforcement, Regulatory Priorities, McGuireWoods Legal Alert, May 26, 2020
- Author, Update No. 9: Financial Services Regulators and SROs Continue to Address COVID-19 Impact, McGuireWoods Legal Alert, May 21, 2020
- Author, Update No. 8: FINRA Continues to Address COVID-19 Impact on Financial Industry, McGuireWoods Legal Alert, May 14, 2020
- Author, SEC Reiterates, Refines Reg BI Stance on Broker-Dealers’ Use of “Adviser” and “Advisor” Titles, McGuireWoods Legal Alert, May 11, 2020
- Author, Update No. 7: SEC Urges Municipal Issuers to Voluntarily Expand Disclosures, McGuireWoods Legal Alert, May 7, 2020
- Author, Update No. 6: Financial Regulators, SROs Continue Providing COVID-19-Related Relief, McGuireWoods Legal Alert, April 28, 2020
- Author, Update No. 5: Financial Regulators, SROs Continue Providing COVID-19-Related Relief, McGuireWoods Legal Alert, April 21, 2020
- Author, Update No. 4: Financial Regulators Continue Issuing COVID-19-Related Relief, McGuireWoods Legal Alert, April 15, 2020
- Author, SEC Issues Regulation Best Interest Risk Alerts, After Declining to Delay Compliance Date, McGuireWoods Legal Alert, April 9, 2020
- Author, Financial Services Regulators and SROs Continue to React to COVID-19 Developments, McGuireWoods Legal Alert, April 6, 2020
- Author, Financial Services Regulators Continue to Roll Out COVID-19 Guidance and Relief, McGuireWoods Legal Alert, March 26, 2020
- Quoted, Pandemic Deemed Perfect Storm For Fraud, Law360, March 20, 2020
- Author, New COVID-19 Guidance From Securities Regulators and Industry Associations, Subject to Inquiry, March 17, 2020
- Author, FINRA Releases Its 2020 Risk Monitoring and Examination Priorities, Subject to Inquiry, January 15, 2020
- Quoted, "FINRA to Probe Whether Brokers are Ready for Reg BI", FundFire, January 10, 2020
- Author, SEC Announces 2020 Examination Priorities, Subject to Inquiry, January 8, 2020
- Author, SEC Continues Compensation Disclosure Focus With FAQs and Enforcement, Subject to Inquiry, November 20, 2019
- Author, Cybersecurity Best Practices: FINRA’s 2019 Exam Observations, Password Protected, October 24, 2019
- Author, Broker-Dealers: Be Ready for Questions About Regulation Best Interest Compliance, Subject to Inquiry, October 21, 2019
- Author, The More Things Change, the More They Stay the Same – Joint Statement by FINRA and the SEC on the Customer Protection Rule and Digital Asset Securities, Consumer FinSights, July 9, 2019
- Co-author, When Firms Can’t Access Their Financial Advisers’ Tech Tools, Law360, July 2, 2019
- Author, SEC 2019 Fintech Forum, Consumer FinSights, June 13, 2019
- Author, SEC Adopts Regulation Best Interest, Subject to Inquiry, June 7, 2019
- Author, North American Securities Administrators Association (NASAA) Releases Model Cybersecurity Rule, Password Protected, May 24, 2019
- Author, D.C. Circuit Vacates SEC Sanctions, Says Negligent Omissions Are Not ‘Willful’ Under Advisers Act, McGuireWoods Legal Alert, May 13, 2019
- Author, FINRA Issues ‘Red Flag’ Guidance on Suspicious Activity Monitoring and Reporting, Subject to Inquiry, May 10, 2019
- Author, SEC Highlights Potential Deficiencies in Firm Privacy Policies, McGuireWoods Legal Alert, April 25, 2019
- Author, What the Venezuela Sanctions May Mean for Future Sanctions Programs, Subject to Inquiry, March 11, 2019
- Author, Cybersecurity and Pen Testing, Password Protected, February 11, 2019
- Author, FINRA 2018 Cybersecurity Practices Report — Don’t Neglect Internal Threats, Password Protected, January 8, 2019
- Author, SEC Charges Robo-Advisors — Increasing Scrutiny of the Investment Platform, Subject to Inquiry, January 3, 2019
- Author, FINRA’s 2018 Cybersecurity Report – “Spear Phishing” and “Whaling” Attacks, Password Protected, December 27, 2018
- Author, FINRA Issues 2018 Report on Selected Cybersecurity Practices, Password Protected, December 21, 2018
- Author, The Broker Protocol’s Demise — Imminent or Greatly Exaggerated?, McGuireWoods Legal Alert, July 6, 2018
- Author, FINRA Regulatory Notices Demonstrate Focus on Excessive Trading, Supervision, McGuireWoods Legal Alert, April 27, 2018
- Author, SEC Unveils Proposed Standards of Care for Brokers and Investment Advisers, McGuireWoods Legal Alert, April 25, 2018
- Author, FINRA Enforcement: New Direction for the Regulator, McGuireWoods Legal Alert, April 16, 2018
- Author, Fifth Circuit Vacates Controversial DOL Fiduciary Rule, McGuireWoods Legal Alert, March 19, 2018
- Author, FINRA Proposes Transformative Rule on Outside Business Activities, McGuireWoods Legal Alert, March 1, 2018
- Author, Cybersecurity: FINRA Guidance through 2018 Priorities and Recent Exam Findings, Password Protected, February 22, 2018
- Author, SEC 2018 National Exam Program Examination Priorities, McGuireWoods Legal Alert, February 12, 2018
- Author, "10 Highlights From FINRA’s 2018 Priorities Letter", Law360, February 6, 2018
- Quoted, "FINRA Dangles Cooperation Carrot With Fine-Free Settlements", Law360, July 6, 2015
- Quoted, "How To Dodge The Dangers Of Unregistered Securities", Law360, April 16, 2015
- Author, "Recent Lessons in Anti-Money Laundering Compliance", Law360, February 25, 2015
- Quoted, "FINRA’s Blockbuster 2014 Has Attys Wondering About Sequel", Law360, February 20, 2015
- Quoted, "FINRA To Raise Heat On Firms In Broker Disclosure Push", Law360, January 15, 2015
- District of Columbia
- Maryland
- Panelist, "Ethics in a Hybrid World", SIFMA C&L Annual Seminar, March 14, 2023
- Panelist, "Digital Engagement Practices, Trends and Regulatory Considerations", Compliance & Legal Virtual Forum, SIFMA, November 15, 2022
- Moderator, "SEC Enforcement", National Society of Compliance Professionals Regulatory Interchange, February 24, 2022
- Speaker, "KYC/AML Regulatory Update: Why Does My Bank Keep Asking Me for All of These Documents and Information", New Developments in Tax and Wealth Planning, October 14, 2021
- Speaker, "AML Program Evolution and Regulatory Expectations", 2021 Securities Compliance Webinar, Financial Markets Association, April 30, 2021
- Speaker, "What to Expect in Your Next Exam (and How to Prepare)", Mid-2020, What to Expect… A Look Toward the Future, July 8, 2020
- Speaker, Regulatory Update, April 6, 2020
- Panelist, "Breakout 2B – Financial Crimes: You Make the Call!", SIFMA Anti-Money Laundering & Financial Crimes Conference, New York, NY, February 6, 2020
- Speaker, "Product Supervision and Hot Topics", Fidelity Broker-Dealer Compliance Roundtable, April 2019
- Speaker, "SEC Crackdown on Tech System Compliance", SEC Compliance and Disclosure Update, McGuireWoods LLP SEC Practice Complimentary Webinar Series, March 19, 2019
- Speaker, Security and Privacy Issues for Fiduciaries and Clients, American Bankers Association Webinar, February 7, 2019
- Panelist, "Communications with the Public/Social Media", UNC School of Law Financial Services Compliance Boot Camp, June 2018
- Speaker, "Fiduciary Investment Advice: Litigation and Enforcement Perspectives", Fiduciary Investment Advice 2018, PLI, New York, NY, May 2018
- Panelist, "Lessons Learned from Recent AML Enforcement Actions", FINRA Annual Conference, Washington, D.C., May 2017
- Panelist, "Privilege and Work Product Protections: Ethical Considerations for In-House Teams", SIFMA Compliance & Legal Society, Annual Conference, San Diego, California, March 2017
- Panelist, "The Sales Practice Examination Process (Medium and Large Firm Focus)", FINRA Annual Conference, Washington, D.C., May 2016
- Moderator, "Navigating Senior Management through the Litigation and Enforcement Process", SIFMA Compliance & Legal Society, Annual Conference, Orlando, Florida, March 2016
- Panelist, "Anti-Money Laundering", FINRA Woodbridge District Office, Member Compliance Event, Tarrytown, NY, June 2015
- Panelist, "Key Trends in AML – Global Movements & Domestic Developments", The Canadian Institute, Toronto, Canada, April 2015
- Panelist, "Municipal Securities Issues", National Association of Compliance Professionals, Regional Conference, St, Louis, MO, April 2015
- Panelist, "FINRA Dispute Resolution Activities", PLI, New York, NY, July 2014
- Panelist, "Enforcement Developments", FINRA Annual Conference, Washington, D.C., May 2014
- Panelist, "Enforcement Developments", FINRA Annual Conference, Washington, D.C., May 2014
- Panelist, "SEC and FINRA Investigations Regarding Hedge Funds, Asset Managers, Broker-Dealers, and Other Institutional Investment Entities", Securities Enforcement Forum 2013, Washington, D.C., October 2013
- Panelist, "Suitability – Small Firm Perspective", FINRA Annual Conference, Washington, D.C., May 2013
- Panelist, "Who is Your Customer? Implementing Best Practices on Know Your Customer and Anti-Money Laundering, Fraud Detection, Surveillance, and Enforcement in On-Line Trading Space", Thomson Reuters – On-Line Financial Services Symposium, New York, NY, March 2013
- Panelist, "Enforcement Focus on Attorneys and Compliance Professionals", SIFMA, Charlotte Regional Seminar, Charlotte, NC, September 2012
- Moderator, "Electronic Market Access", FINRA Annual Conference, Washington, D.C., May 2012
- Panelist, "Outside Business Activities", FINRA Annual Conference, Washington, D.C., May 2012
- Moderator, "OFAC Compliance for FINRA Firms", FINRA Webinar, Washington, D.C., August 2010
- Panelist, "Dialogue with Area Regulators", National Association of Compliance Professionals, New England Regional Membership Meeting, Boston, MA, March 2010