Marianna Shafir Esq.

Marianna Shafir Esq.

Corporate Counsel, Regulatory Advisor at Smarsh
Marianna Shafir is Corporate Counsel and Regulatory Advisor at Smarsh, where she’s responsible for legal and regulatory affairs worldwide. With her expertise in financial services industry, compliance and eDiscovery, Marianna counsels Smarsh clients on meeting regulatory obligations, leveraging technology and guidance on best practices related to electronic communications supervision. Prior to joining Smarsh, Marianna worked for BNY Mellon and Invesco where she was an instrumental member on compliance teams.Marianna has also served as an adjunct professor at New York Career Institute where she taught Law Office Management and Real Estate Law. She earned her Juris Doctorate from Nova Southeastern University. She is a frequent speaker at industry conferences and a contributor to various online publications.
Marianna Shafir Esq.
ENTRIES BY Marianna Shafir Esq.

Regulatory Update: Musk Settles with SEC; New Supervision Rules for Executives on Social Media

Last week, the Securities and Exchange Commission (SEC) and Tesla Chief Executive Officer (CEO) Elon Musk reached an agreement over the CEO’s use of social media. The settlement requires all of Musk’s communication about Tesla’s business via social media, the company’s website, press releases, and investor calls to be preapproved by a securities lawyer. The…
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Regulatory Update: Supervision Failures Continue To Bite Firms

The message is clear — ignoring red flags is a big no-no! Regulators continue to penalize firms and individuals for failing to comply with supervision obligations. The Securities and Exchange Commission (SEC) recently fined Wedbush Securities Inc.  $250,000 and the firm has agreed to be censured to settle its failure to supervise charge in a…
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Regulatory Update: SEC Targets Robo-advisers’ Social Media Violations

The Securities and Exchange Commission (SEC) recently fined two robo-advisers, Wealthfront Advisors LLC (Wealthfront) and Hedgeable Inc. (Hedgeable), for social media pitfalls. The proceedings are the SEC’s first enforcement actions against robo-advisers, which provide automated, software-based portfolio management services. Both companies were charged with violating rules on recordkeeping, antifraud, advertising, and compliance. The SEC fined…
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FINRA Issues 2019 Priorities Letter — RegTech Leads Areas of Focus

The Financial Industry Regulatory Authority (FINRA) has released its annual 2019 Priorities Letter, highlighting new areas of focus, including regulatory technology (RegTech), online distribution platforms, and existing priorities. This year, the annual letter has a new title: It’s now dubbed the “Risk Monitoring (instead of Regulatory) and Examination Priorities Letter.” FINRA’s CEO Robert Cook, explains how…
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Texting and Social Media on SEC Radar

It’s a new year, and the SEC has texting and social media on its radar. The U.S. Securities and Exchange Commission’s Office of Compliance Inspections and Examinations (OCIE) recently released a risk alert, notifying advisors that it is paying close attention to text messaging, instant messages, and social media. OCIE notes that “text/SMS messaging, instant messaging,…
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