Elizabeth A. Marino

ELIZABETH MARINO counsels broker-dealers, investment advisers, financial institutions, and public companies on securities enforcement matters, regulatory matters, and internal investigations. Elizabeth regularly assists large institutions with the collateral consequences associated with settlements with the U.S. Securities and Exchange Commission (SEC), Commodity Futures Trading Commission (CFTC), state regulators, and others, including seeking and obtaining waivers from the SEC of the Rule 506 of Regulation D and well-known seasoned issuer disqualifications, and drafting and assisting with FINRA MC-400 and MC-400A applications. Elizabeth regularly advises broker-dealers on regulatory reporting obligations, including matters related to disclosure on Forms U4 and U5 and FINRA Rule 4530, among others. Elizabeth also counsels NRSRO clients on regulatory and enforcement matters, including SEC rulemakings, SEC examinations, SEC enforcement matters, and other related matters.

Elizabeth previously worked as a staff attorney in the SEC’s Division of Market Regulation (n/k/a the Division of Trading and Markets), where she focused on anti-fraud and anti-manipulation rules, particularly those related to Regulation M, IPO allocations, trading, issuer tender offers, and issuer repurchases. Prior to joining Sidley, Elizabeth was in private practice at a large law firm for nine years.

Elizabeth was selected as a “Top Women of Law” honoree by Massachusetts Lawyers Weekly in 2023. She currently serves on the editorial board of the Investment Lawyer and has published numerous articles on securities-related issues.

• Boston Co-Chair of SidleyWomen.
• Boston Board of Directors for Cradles to Crayons, the largest national nonprofit focused on ending children’s clothing insecurity.