Last summer, the Financial Regulatory Authority (FINRA) proposed a rule change to its supervision rule (FINRA Rule 3110) to allow member firms to conduct remote inspections of some or all branch offices and locations. This three-year pilot program would allow members to fulfill Rule 3110(c) obligations without on-site inspections.

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Tags: FINRA, FINRA Rules, GT Insight, SEC, securities and exchange commission
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Photo of William Mack William Mack

William B. Mack is a co-chair of the Financial Regulatory and Compliance Practice. He is experienced in advising companies on regulatory and compliance matters relating to the Securities and Exchange Commission regulations, the Exchange Act, Anti-Money Laundering laws and Financial Industry Regulatory Authority

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William B. Mack is a co-chair of the Financial Regulatory and Compliance Practice. He is experienced in advising companies on regulatory and compliance matters relating to the Securities and Exchange Commission regulations, the Exchange Act, Anti-Money Laundering laws and Financial Industry Regulatory Authority (FINRA) rules.

William’s practice involves all aspects of broker-dealer regulation, including Self-Regulatory Organization (SRO) membership, supervision, employment, research, soft dollar arrangements, chaperoning of foreign broker-dealers, social media, use of foreign finders, anti-money laundering rules, alternative trading systems (ATS), exchanges, and market making issues. He also provides regulatory guidance to investment banking clients in connection with securities offerings and related trading issues.

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Photo of Mark D. Shaffer Mark D. Shaffer

Mark Shaffer advises U.S. and foreign financial institutions, broker-dealers, cryptocurrency businesses, fintech companies, and digital payment companies on a broad range of regulatory and compliance matters relating to SEC regulations, FRB and other banking regulations, FINRA rules, and Bank Secrecy Act (BSA)/anti-money laundering

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Mark Shaffer advises U.S. and foreign financial institutions, broker-dealers, cryptocurrency businesses, fintech companies, and digital payment companies on a broad range of regulatory and compliance matters relating to SEC regulations, FRB and other banking regulations, FINRA rules, and Bank Secrecy Act (BSA)/anti-money laundering (AML) laws and regulations. He frequently helps clients understand how such laws and regulations map onto new technologies and innovative products.

Mark assists financial institutions, their employees, and associated persons to respond to regulatory examinations and inquiries and provides effective representation in a range of enforcement proceedings. Mark has handled enforcement matters involving issues relating to currency and equities market manipulation, collusion, insider trading, money laundering, OFAC sanctions, false statements, and accounting fraud. Throughout his career, Mark has represented clients before the U.S. Department of Justice and regulators such as the SEC, CFTC, Federal Reserve, FinCEN, OFAC, and the New York State Department of Financial Services.

Mark has assisted multiple banking entities in resolving MRAs and MRIAs, and in developing and implementing compliance programs and regulatory remediation plans. Mark also assists companies in staying current on material changes to applicable laws, rules and regulations, and helps to develop or amend their policies, procedures, controls, compliance manuals and related training.

Prior to joining the firm, Mark practiced at two large law firms in Washington, D.C. and served as an in-house counsel and compliance officer at a variety of global financial institutions. Mark clerked for Judge Richard L. Nygaard of the United States Court of Appeals for the Third Circuit.

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Photo of Leisel O. Greig ˘ Leisel O. Greig ˘

Leisel O. Greig ˘ is a Corporate Practice Law Clerk/JD based in Greenberg Traurig’s Northern Virginia office.

˘ Not admitted to the practice of law.

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