Holly Smith is a member of Sutherland's Financial Services Practice Group, where she advises product developers, broker-dealers, insurance companies and securities exchanges on the application of the U.S. federal securities laws and the rules of the self-regulatory organizations. Before joining the firm, Holly spent 13 years at the SEC, where she served as counsel to Commissioner Mary L. Schapiro for approximately five years and later was appointed an Associate Director in the SEC's Division of Market Regulation (now the Division of Trading and Markets). Her responsibilities as Associate Director included oversight of the U.S. stock exchange, options and over-the-counter markets and certain rulemaking under the Securities Exchange Act of 1934. She worked extensively on sales practice, compliance and market structure issues, including the development and adoption of rules regarding the handling of customer limit orders and the treatment of quotations entered into electronic communications networks. In addition, she advised the SEC on matters relating to the sale of over-the-counter derivatives. Representative Experience Holly regularly counsels clients on the following issues: · Broker-dealer compliance matters. · Trading. · International compliance. · Supervisory structures. · Registration issues. · Net capital, customer protection and transfer agent rules. Holly has assisted developers of commodity-based exchange-traded funds in obtaining regulatory approval for listing and trading on U.S. exchanges; she has served as an independent consultant in a SEC and Financial Industry Regulatory Authority, Inc. (FINRA) enforcement matter involving complex trading systems; and has designed and taught supervisory training programs for large registered representative field forces. Professional Honors and Awards · Recipient, SEC Law and Policy Award from SEC Chairman Richard Breeden · Recipient, Award by SEC Chairman Arthur Levitt for her work on the SEC's order handling rules Professional and Community Involvement · Co-chair, Broker-Dealer Legal and Regulatory Affairs Subcommittee, National Society of Compliance Professionals (NSCP) · Former Member, Board of Directors, NSCP Recent Publications and Speaking Engagements · Author, "No Easy Road - Developing a Fiduciary Standard for Broker-Dealers," NSCP Currents (July/August 2010) · Author, "Broker-Dealer Compliance Issues: All Over The World," Practical Compliance & Risk Management for the Securities Industry (May-June 2008) · Author, "The NASD Examination and Disciplinary Programs," Aspen Law and Business (2005) · Author, "Integrating Compliance into Management: New Rules Force the Issue for Broker-Dealers, Investment Companies and Investment Advisers," National Society of Compliance Professionals (January 30, 2004) · Author, "SEC and SRO Inspections," Corporate and Securities Law Library Broker Dealer Regulation (2004) · Speaker, NSCP National Membership Meeting (October 2009) · Speaker, Sutherland Securities Symposium (October 30, 2008) · Speaker, NSCP National Membership Meeting (October 20-22, 2008) · Speaker, Independent Broker-Dealer Regulatory Forum (April 16, 2008) · Speaker, NSCP National Membership Meeting (October 17-19, 2007) · Speaker, NSCP Southern Membership Meeting (February 26, 2007) · Speaker, NSCP National Meeting (October 18-20, 2006) · Speaker, NSCP 2006 East Coast Membership Meeting (May 1, 2006) · Speaker, NSCP National Membership Meeting (October 24, 2005) · Speaker, NSCP Eastern Meeting (May 2, 2005) · Speaker, NSCP National Membership Meeting (October 27-29, 2004) · Speaker, ARMA International Conference, Boston (October 19-22, 2003) Industries Financial Services Retirement Products and Services News Sutherland forms Response Team to Help Clients Address Whistleblower Claims in 2012
December 21, 2011 FOCUS Expansion Poses Headaches: Group
August 31, 2010 Compliance Reporter Legal Alerts Legal Alert: ERISA Participant Disclosure Will Not Violate SEC Advertising Rules
November 2, 2011 Legal Alert: Blowing Your Own Whistle: Trumpeting Your Whistleblower Policies in Response to the SEC's New Whistleblower Program
July 28, 2011 Legal Alert: SEC Proposes Business Conduct Standards for Security-Based Swap Dealers and Major Security-Based Swap Participants
June 30, 2011 Legal Alert: Last Minute FBAR Extensions for "Signature Authority Only" Filers - Making Sense of the Announcements
June 21, 2011 Legal Alert: FinCEN Extends FBAR Filing Deadline for Certain Officers and Employees - Does This Portend Changes?
June 3, 2011 Legal Alert: Summary of Selected Programs from SIFMA Compliance & Legal Division's 2011 Annual Seminar
April 15, 2011 Legal Alert: FINRA Delays Implementation of New Suitability Rules Until July 2012
April 11, 2011 Legal Alert: Resetting the FBAR: Foreign Financial Account Reporting Regulations are Finalized With Significant, But Not Always Helpful, Clarifications
March 4, 2011 Legal Alert: DOL Advisory Opinions Consider Fiduciary Issues
February 16, 2011 Legal Alert: Significant Changes to FINRA's Know Your Customer and Suitability Rules to Take Effect in 2011
January 3, 2011 Legal Alert: Broker-Dealer Annual Audits and Accounting Standards: SEC and PCAOB Developments
December 21, 2010 Legal Alert: Impact of Dodd-Frank Wall Street Reform and Consumer Protection Act on Broker-Dealers
August 16, 2010 Legal Alert: The Dodd-Frank Act: A New Era of Financial Regulation and the Implications for the Insurance Industry
August 3, 2010 Legal Alert: FINRA Issues Guidance for Broker-Dealers Participating in Private Offerings
April 29, 2010 Legal Alert: FINRA Proposes to Include More and Older Information on BrokerCheck
February 24, 2010 Legal Alert: Obama Administration Proposes Financial Crisis Responsibility Fee
January 15, 2010 Legal Alert: FINRA Restricts Internal Use Only Rules Through Enforcement Actions
January 6, 2010 Legal Alert: Sutherland Finds That FINRA Sanctioned Far Less in 2008 Than in Previous Three Year
June 3, 2009 Legal Alert: Sutherland to Host Webinar on FINRA Sweep of Sales and Promotion of Non-Traded REITs
March 30, 2009 Legal Alert: Regulation D Developments
March 5, 2009 Legal Alert: State Securities Regulators Propose an Agenda for Change, Will Not Take the Financial Crisis Lying Down
February 9, 2009 Legal Alert: Sutherland to Host Webinar on FINRA Sweep of Broker-Dealer Referrals of Investment Advisory Services
January 26, 2009 Legal Alert: House Financial Services Subcommittee Approves the Insurance Information Act of 2008 to Create an Office of Insurance Information
October 10, 2008 Legal Alert: Issues List for Broker-Dealers Responding to Financial Markets Events
October 9, 2008 Legal Alert: Moving Forward with the Bailout - The Emergency Economic Stabilization Act of 2008 Becomes Law
October 3, 2008 Legal Alert: State Securities Regulators Discuss Developments and Initiatives
October 2, 2008 Legal Alert: Progress on the "Bailout" Proposal - The Senate Passes an Expanded Emergency Economic Stabilization Act of 2008
October 2, 2008 Legal Alert: The Evolving "Bailout" Proposal - Emergency Economic Stabilization Act of 2008
September 29, 2008 Legal Alert: Warnings About Replacing AIG Policies
September 29, 2008 Legal Alert: SEC Issues Temporary Emergency Orders to Ban Short Selling of Financial Companies and Restore Market Liquidity
September 24, 2008 Legal Alert: Sutherland to Host Conference Call on FINRA Sweep Examination of Auction Rate Securities
August 22, 2008 Legal Alert: FINRA Spring Securities Conference
June 23, 2008 Legal Alert: Sutherland Forms Regulatory Reform Task Force
June 12, 2008 Legal Alert: New York Federal Reserve Bank Releases Guidelines for Foreign Exchange Trading Activities
May 23, 2008 Legal Alert: Is There a "Good Faith" Defense to Securities Fraud? Courts, the SEC and FINRA in Conflict
April 29, 2008 Legal Alert: OTC Counterparty Credit Risk in the Post-Bear Stearns World
March 17, 2008 Legal Alert: FINRA Tells Members to Revisit Customer Statement and Web Site Descriptions of Auction Rate Securities Backed by Fixed Income Products and Temporarily Increases Maintenance Margin for Such Securities
March 6, 2008 Legal Alert: SEC Proposes to Amend Regulation S-P to Require New Client Information Safeguards and Allow Reps to Take Certain Client Information When They Change Broker-Dealer or Investment Adviser Firms
March 5, 2008 Legal Alert: FINRA Proposes Significant Changes to IM-3060 on Gifts and Entertainment
January 22, 2008 Legal Alert: SEC Posts RAND Corporation Report on Investment Adviser and Broker-Dealer Industry
January 9, 2008 Legal Alert: MSRB Notice 2007-32 - New Supervisory Requirements Under Rule G-27
November 13, 2007 Legal Alert: Sutherland to Host Conference Call on FINRA Sweep Examination of Life Settlements
November 13, 2007 Legal Alert: FINRA Fall Securities Conference
October 25, 2007 Legal Alert: Sutherland Study Finds That It Sometimes Pays to Litigate Against FINRA (Formerly NASD)
September 27, 2007 Legal Alert: Sutherland to Host Conference Calls on FINRA Sweep Examination of the Use of Professional Designations Involving Seniors and Retirees
September 12, 2007 Legal Alert: FINRA Conducting a Sweep Examination of Pitches to Retirees and Section 72(t) Withdrawals
August 3, 2007 Legal Alert: NASD and NYSE Request Comments on Proposed Guidance Regarding Supervision of Electronic Communications
June 29, 2007 Legal Alert: NASD Answers Frequently Asked Questions Regarding SEC Financial Responsibility Rules
April 12, 2007 Legal Alert: Summary of Selected Programs from SIFMA Compliance & Legal Division's 2007 Annual Seminar
April 3, 2007 Legal Alert: NASD Provides Guidance and Mandates Additional Procedures for Firms' Supervision of Representatives Transferring from Other Firms
February 21, 2007 Publications Blowing the Whistle: New SEC Rules Set the Stage for Increased Reporting of Potential Securities Law Violations
September-October 2011 Reprinted with permission Practical Compliance & Risk Management for the Securities Industry No Easy Road - Developing a Fiduciary Standard for Broker-Dealers
July/August 2010 Reprinted with permission NSCP Currents Broker-Dealer Compliance: Issues All Over the World
May/June 2008 Reprinted with permission Practical Compliance & Risk Management for the Securities Industry Integrating Compliance into Management: New Rules Force the Issue for Broker-Dealers, Investment Companies and Investment Advisers
January 30, 2004 Posted with permission from the National Society of Compliance Professionals "Broker-Dealer Compliance Issues: All Over The World," Practical Compliance & Risk Management for the Securities Industry (May-June 2008) "The NASD Examination and Disciplinary Programs," Aspen Law and Business (2005) "SEC and SRO Inspections," Corporate and Securities Law Library Broker Dealer Regulation (2004) Events NSCP 2011 National Meeting
October 17-19, 2011 NSCP National Meeting
October 17-19, 2011 Whistleblower Initiatives: What You Need to Know
January 26, 2011 NSCP 2010 National Meeting
November 1-3, 2010 NSCP National Membership Meeting
October 2009 NSCP 2009 National Membership Meeting
October 5-7, 2009 Sutherland Securities Symposium
October 30, 2008 NSCP National Membership Meeting
October 20-22, 2008 Independent Broker-Dealer Regulatory Forum
April 16, 2008 NSCP National Membership Meeting
October 17-19, 2007 NSCP Southern Membership Meeting
February 26, 2007 NSCP National Meeting
October 18-20 NSCP 2006 East Coast Membership Meeting
May 1, 2006 NSCP National Membership Meeting
October 24, 2005 The National Society of Compliance Professionals (NSCP) Eastern Meeting
May 2, 2005 National Society of Compliance Professionals National Membership Meeting
October 27-29, 2004 ARMA International Conference in Boston
October 19-22, 2003 |