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: SEC and FINRA Fine Brokerage Firm $6.1 Million for Reporting and Recordkeeping Violations

Last month, FINRA fined a clearing firm $5.3 million for anti-money laundering (AML) failures as well as recordkeeping, financial, and operation violations involving penny stock shares. Despite clearing and settling billions of penny stock shares dating back to 2012, FINRA discovered that the clearing firm failed to institute an AML program to detect and report…
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FCA Fines Insider Dealers £1.69 Million

Mobile Phone Communications at Center of Conspiracy A judge has issued confiscation orders totaling £1.69m against two recently-convicted insider dealers. These confiscation orders follow an FCA prosecution in which a former investment banker and a chartered accountant were convicted in the largest ever FCA insider dealing investigation. Investment banker Martyn Dodgson and chartered accountant Andrew…
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Regulatory Updates: Brokers Fined and Barred for Unsupervised Communications

In April, FINRA continued to focus on firms’ recordkeeping and supervision. FINRA continues to focus on communications sent over channels which firms cannot or are not archiving. FINRA also continues to closely monitor and penalize high-risk firms and brokers. Firms and Individuals Sanctioned FINRA fined both a firm and the firm’s chief executive officer (CEO):…
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Text Messages Evidence of Fraudulent Intent in Centra Crypto Scheme

Cryptocurrency startup Centra Tech, Inc. faces federal criminal and civil charges related to the company’s $32 million initial coin offering (ICO) in September. The Securities and Exchange Commission (SEC) arrested the three owners of Centra Tech under fraud charges, stating in their press release that “text messages among the defendants reveal their fraudulent intent.” According…
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Electronic Communications Tops FINRA Enforcement Issues in 2017

Financial Industry Regulatory Authority (FINRA) restitution more than doubled in 2017, according to Eversheds Sutherland’s annual analysis of reported disciplinary actions. FINRA reported restitution of approximately $66 million in 2017, an increase of 136% from the $28 million in restitution reported in 2016. In 2017 FINRA fines amounted to $73 million, a 58 percent decrease…
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