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.

FINRA 2018 Fines Summary for Noncompliance with Recordkeeping and Supervision Obligations

In 2018, FINRA focused on firms’ noncompliance with recordkeeping and supervision obligations. FINRA penalized firms for communications sent over channels which firms cannot or are not archiving. Also last year, FINRA held individuals responsible for text message–related violations. FINRA fined a firm $700,000, and the chief executive officer (CEO) was fined $100,000 and barred from…
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Regulatory Update: SEC Approves the New “Best Interest” Rules

On June 5, the SEC approved a package of rules requiring brokerage firms to disclose potential conflicts in the fees investors pay and the commissions brokers earn when giving financial advice. These new Regulation Best Interest rules also require brokers to raise the standard for giving advice to meet a client’s best interest when recommending…
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Data Governance Best Practices: How to Oversee Your Content

Reprinted with permission of the Association of Corporate Counsel as it originally appeared on ACCDocket.com: “Data Governance Best Practices: How to Oversee Your Content” May 30, 2019. © 2019, the Association of Corporate Counsel. All rights reserved. If you are interested in joining ACC, please visit www.acc.com, call 202.293.4103, ext. 360, or email membership@acc.com. Data…
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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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