As McGuireWoods’ deputy managing partner for litigation, Noreen leads the firm’s 40 litigation-related practices across 20 offices with a trial lawyer’s precision. She is a trusted adviser to financial institutions, broker dealers, investment advisers and other market participants confronting high-stakes regulatory and enforcement risk. Known for clear judgment, credibility with regulators and a practical, business-focused approach, she pairs firmwide leadership with hands-on advocacy to deliver results for clients.
Clients rely on Noreen to guide them through a range of investigations, examinations and litigation brought by the DOJ, SEC, FINRA, securities exchanges, state securities regulators, and state attorneys general. She conducts internal, and responds to external, probes on behalf of major financial institutions, broker dealers, investment advisors, private funds, audit committees and other entities principally involving alleged violations of securities and banking-related rules and regulations..
Noreen also regularly counsels broker dealers and investment advisors on books and records compliance, sales practice issues, trading and markets compliance issues, and transaction and nonfinancial regulatory reporting regimes (e.g., Consolidated Audit Trail, Large Option Position reporting, ACT and TRF reporting, and Electronic Blue Sheets).
Eighteen months after joining the firm in 2014, Noreen was elevated to managing partner of McGuireWoods’ New York office, where she helped establish the firm’s cross-practice Financial Institutions Industry Team. Noreen also chaired the firm’s nationally recognized Government Investigations & White Collar Litigation Department before her appointment as deputy managing partner in 2024.
Noreen is a frequent author and speaker who has been honored as a top lawyer in white collar litigation and banking enforcement by Legal 500 United States and Chambers USA. Her numerous accolades also include recognition for pro bono work. In 2025, Corporate Counsel, an American Lawyer Media publication, honored her as a Managing Partner of the Year finalist for the Women, Influence & Power Awards.
Noreen clerked for Justice Marie L. Garibaldi of the Supreme Court of New Jersey during the 1999-2000 term.
- Counseled retail, institutional, and clearing broker dealers with respect to compliance with the SEC’s Consolidated Audit Trail (CAT) transaction and “CAIS” reporting, and with respect to CAT-related regulatory inquiries and disclosure obligations.
- Represented multiple broker dealers with respect to enforcement proceedings and examination involving securities transaction reports, including Electronic Bluesheets (EBS), Large Option Position Reporting (LOPR), FINRA’s Order Audit Trail System (OATS), and OTC trade reporting.
- Counseled multiple broker dealers with respect to array of issues related compliance with FINRA and SRO rules governing supervision, non-financial regulatory reporting, odd lot bond trading, best execution, LTID compliance, TFCE examinations, option order ticket marking, front-running, and compliance with books & records rules.
- Represented financial services firm with respect to internal and external investigations, as well as resultant civil litigation in California state court, involving senior financial advisors accused of forgery, unauthorized trading, and bank fraud.
- Represented retail bank in AAA arbitration related to allegations that the firm had converted certificates of deposit of high net-worth clients.
- Represented investment bank in an internal review and disclosure to the SEC and FINRA related to allegations that CLO, TruPS, and ABS CDO traders, engaged in misconduct such as front running, mismarking of trading book, inappropriate proprietary trading post-Volcker, and inappropriate mark-ups of positions sold to clients.
- Represented major national bank in connection with an internal investigation and proffers to various regulators resulting from senior business banker’s arrest for bank fraud.
- Represented financial advisor in federal court with respect to claims of breach of fiduciary duty and breach of contract made by the Government of the US Virgin Islands in connection with a municipal securities issuance.
- Represented issuer and underwriter in New York state court with respect to multiple claims by monoline insurers for breach of contract, indemnity and reimbursement related to residential mortgage-backed securities offerings.
- Represented investment bank and certain of its employees in connection with multiple investigations by DOJ, SEC, NCUA, FINRA, and various state AGs, regarding issuance of residential mortgage-backed securities.
- Represented a public company director, CEO of a public company and CEO of a private entity in connection with insider trading investigations by the SEC and the DOJ. Representations resulted in declination, judgment of acquittal, and deferred prosecution, respectively.
- Represented a major financial institution in connection with multiple investigations of potential bribery associated with bond offerings in Latin America. Matter resulted in declination by the DOJ and the SEC with respect to the institution.
- Represented an audit committee of U.S. public company in connection with internal investigations of alleged FCPA and money laundering violations by employees of one of its foreign subsidiaries.
- Represented New York-based private equity fund in lawsuits and proceedings pending in New York and Florida state courts as well as bankruptcy court, related to the fund’s efforts to recover losses from executives of a failed portfolio company.
- Represented private equity funds in connection with investigations by the SEC, the New Mexico attorney general, and the North Carolina attorney general into the use of placement agents to solicit investments from public retirement funds.
- Represented a federal savings bank in an adversary proceeding in SDNY bankruptcy court brought by a federally-sponsored home loan bank, or constructive trust and unjust enrichment, to recover $41.5 million deposited with certain entities as collateral for a derivative transaction. Successfully moved for summary judgment with respect to all claims by the home loan bank against the savings bank.
- Represented entities associated with a global financial services firm in SDNY bankruptcy court in moving to dismiss a complaint in an adversary proceeding by a home warranties company challenging the entities’ right to foreclose on approximately $80 million of “repo” collateral prior to the home warranties company’s bankruptcy.
Events
- Speaker, "Dual Registrant Conundrum: Who’s on First? What’s on Second? I Dunno … Third Base," 2025 SIFMA Compliance and Legal Society Annual Seminar, March 23 - 26, 2025
- Panelist, "Current Issues in Securities Enforcement," SIFMA Compliance & Legal Society Charlotte Regional Seminar, September 19, 2023
- Speaker, "Managing Partner Roundtable: Maintaining Esprit De Corps & Other COVID-19 Challenges," McGuireWoods CLE, January 21, 2021
- Speaker, "Technology Change Management," McGuireWoods CLE, January 12, 2021
- Speaker, "What to Expect in the Governance of Markets Post-CAT Implementation," Mid-2020, What to Expect… A Look Toward the Future, July 22, 2020
- Speaker, "Preparing for Post-Pandemic Enforcement Activity," McGuireWoods CLE, June 4, 2020
- Speaker, "Attorney-Client Privilege and International Investigations: Current Trends and Topics," McGuireWoods CLE, April 1, 2020
- Panelist, "Ethical Issues for Legal and Compliance Officers – Trends, Developments & Strategies," SIFMA Compliance & Legal Society New York Regional Seminar, November 1, 2017
- Panelist, Delaware Corporate Law Update with Former Chief Justice Myron Steele, McGuireWoods Complimentary Presentation, January 14, 2015
- Speaker, "Can You Be Commercial and Compliant?," FCPA Transactional Diligence:Can You Be Commercial and Compliant?, Complimentary Live Program, December 3, 2014
Insights
- Author, Executive Order Addresses “Politicized or Unlawful Debanking” by Financial Institutions, McGuireWoods Legal Alert, August 8, 2025
- Author, FINRA Enforcement Previews Initial CAT Enforcement Philosophy, Subject to Inquiry, May 19, 2023
- Author, FINRA Continues to Prioritize Compliance with CAT Reporting, Subject to Inquiry, May 19, 2023
- Author, Update on FINRA’s Use of CAT Data – They Are “Just Scratching the Surface”, Subject to Inquiry, May 19, 2023
- Author, U.S. Attorneys’ Offices Adopt Policy Incentivizing Self-Disclosure of Corporate Misconduct, Subject to Inquiry, February 27, 2023
- Author, SEC Issues Risk Alert on Reg BI Deficiencies Identified During Exams, McGuireWoods Legal Alert, February 2, 2023
- Quoted, "Law Firm Leaders Confront Return-to-Office Policies," Law.com, January 21, 2021
- Author, U.S. Supreme Court Rules Time Limits Apply to SEC Disgorgement Orders, Subject to Inquiry, June 6, 2017
- Co-author, "Privilege Protection in an Era of Cooperation," New York Law Journal, November 21, 2016
- Co-author, Recent Developments in the Enforcement of the U.S. Foreign Corrupt Practices Act, Journal of Securities Compliance, Vol. 1, No. 3, March 13, 2008
- Selected for inclusion in “Legal 500 United States,” Corporate Investigations and White-Collar Criminal Defense, 2023, 2024, 2025; General Commercial Disputes, 2024
- Named a “2020 New York Trailblazer,” New York Law Journal, 2020
- Selected for inclusion, “Notable Women in Law,” Crain’s New York Business, 2020
- Selected by the New York Law Journal as a 2018 Distinguished Leader
- Selected for inclusion, America’s Leading Lawyers for Business, Financial Services Regulation: Banking – Enforcement & Investigations, New York, Chambers USA, 2017
- Legal Aid Society’s Pro Bono Publico Award, 2013
- Thurgood Marshall Award for Capital Representation, New York City Bar Association, 2008
- Burton Award for Effective Legal Writing, 2005