Holly H. Smith

Holly H. Smith: Attorney with Eversheds Sutherland (US) LLP
  • Partner at Eversheds Sutherland (US) LLP (436 Attorneys)
  • 700 Sixth Street NW, Suite 700, Washington, DC 20001-3980
    View Holly H. Smith's office location
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    2.9/5.0
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Attorney Awards

Biography

Like many of her colleagues at Eversheds Sutherland (US), Holly began her legal career in the financial services sector as an attorney with the SEC. In her 13 years with the SEC, she served as counsel to Commissioner Mary L. Schapiro for approximately five years and later was appointed an associate director in the Division of Market Regulation (now the Division of Trading and Markets). Her responsibilities included oversight of the U.S. stock exchange, options and over-the-counter markets and certain rulemakings 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 for the handling of customer 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.

Awards and Rankings

Recognized by The Legal 500 United States in the area of financial services: regulatory (2015, 2018)

Recognized by Chambers USA: Guide to Leading Business Lawyers in the area of financial services regulation (2012-2018)

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

Experience

“I worked for both the SEC and the NASD-both experiences really helped me learn the securities laws. Now I try to apply what I’ve learned in a very practical way so companies can approach compliance in a way that works best for their business models.”

Experience

Worked with equity trading firms and developers of trading technology.
Companies seek guidance in implementing new SEC disclosure rules.
Counsels broker-dealers on compliance with US financial adequacy and customer protection rules.
Represented a trade association in SEC rulemaking.
Counseled broker-dealers and their parent companies in financial matters before regulators.
Negotiated agreements for broker-dealers on trade clearing and processing.

News

In the News

SEC Allows Funds, TAs That Suspect Elder Abuse to Delay Payments (June 6, 2018)
Compliance Reporter
Eversheds Sutherland Partner Holly Smith is quoted in this Compliance Reporter article discussing the no action relief issued by the Securities and Exchange Commission (SEC) that allows mutual funds ...

B-Ds Cautioned to Eye Senior Investors, State Rules (June 9, 2017)
Compliance Reporter
Eversheds Sutherland (US) attorneys Holly Smith and Sarah Razaq Sallis are featured in this Compliance Reporter article discussing that compliance professionals working in the broker-dealer space ...

Unclaimed Property: 2016 in Review (January 5, 2017)
Tax Notes
Sutherland’s legal alert, Ten Things You Should Know About the 2016 Uniform Unclaimed Property Act, is mentioned in this Tax Notes article.

FINRA’s Rufino: Focus on New Recruitment Rule (October 18, 2016)
Compliance Reporter
Sutherland Partner Holly Smith is quoted in this Compliance Reporter article warning chief compliance officers (CCOs) to start paying closer attention to the new Financial Industry Regulatory ...

CCOs Get More Time For B/D Account Openings (July 27, 2016)
Compliance Reporter
In this article published by the Compliance Reporter, Sutherland Partner Holly Smith is quoted discussing a no-action relief decision by the U.S. Securities and Exchange Commission (SEC) related to ...

BDs Get ‘34 Act Relief from Customer Funds Rule (July 22, 2016)
Bloomberg Law - Securities Law Daily
Sutherland Partner Holly Smith is quoted in this Bloomberg Law article regarding the U.S. Securities and Exchange Commission (SEC) giving a trio of firms more time to comply with ’34 Act Rule 15c3-3, ...

Broker-Dealers Next Likely Target for Unclaimed Property Contingent Fee Audits, Panel Warns (March 27, 2015)
State Tax Today
Partners Phillip Stano and Holly Smith are featured in this State Tax Today article regarding third-party auditors, such as Verus Financial and Kelmar, switching their focus to the securities ...

Broker-Dealers Beware: States Get Creative in Unclaimed Account Search (February 11, 2015)
FinOps Report
Partners Mary Jane Wilson-Bilik and Holly Smith are quoted in a FinOps Report article regarding state regulators taking on a new approach to unclaimed property regulation by hiring third-party ...

FINRA Official: OK to Use Lawyers in Exams (October 27, 2014)
Compliance Intelligence
Partner Holly Smith is quoted in a Compliance Intelligence article discussing the importance of having procedures in place that address how and when firms should self-report. “Anybody who doesn't ...

Largest SEC Whistleblower Award Could Have Been Larger (September 26, 2014)
Law.com
Sutherland’s legal alert, Largest SEC Whistleblower Award Could Have Been Larger, was featured in Law.com.

Press Releases

18 Eversheds Sutherland Practice Areas, 68 Attorneys Named Among Nation’s Best in 2018 Legal 500 United States (May 30, 2018)
Eversheds Sutherland (US) LLP is pleased to announce that 18 practice areas and 68 attorneys have been recognized in the 2018 edition of The Legal 500 United States, a comprehensive survey of legal ...

19 Eversheds Sutherland Practice Areas, 59 Attorneys Named Among Nation’s Best in 2018 Chambers USA (May 3, 2018)
Eversheds Sutherland (US) LLP is pleased to announce that 19 practices and 59 attorneys have earned recognition in the 2018 edition of Chambers USA: America’s Leading Lawyers for Business. Chambers ...

20 Eversheds Sutherland (US) LLP Practice Areas, 56 Attorneys Named Among Nation’s Best in 2017 Chambers USA (May 26, 2017)
Eversheds Sutherland (US) LLP is pleased to announce that 20 practices and 56 attorneys at the firm earned recognition in the 2017 edition of Chambers USA: America’s Leading Lawyers for Business. ...

21 Eversheds Sutherland (US) LLP Practice Areas, 56 Attorneys Named Among Nation’s Best in 2016 Chambers USA (May 27, 2016)
Eversheds Sutherland (US) LLP announces that 21 practices and 56 attorneys at the firm earned recognition in the 2016 edition of Chambers USA: America’s Leading Lawyers for Business. Chambers USA, a ...

14 Sutherland Practice Areas, 62 Attorneys Named Among Nation’s Best in 2015 Legal 500 United States (June 4, 2015)
ATLANTA and WASHINGTON-Sutherland Asbill & Brennan LLP is pleased to announce that 14 practice areas and 62 attorneys have been ranked in the 2015 edition of The Legal 500 United States, a ...

21 Sutherland Practice Areas, 59 Attorneys Named Among Nation’s Best in 2015 Chambers USA (May 19, 2015)
ATLANTA and WASHINGTON-Sutherland Asbill & Brennan LLP announces that 21 practices and 59 attorneys at the firm earned recognition in the 2015 edition of Chambers USA: America’s Leading Lawyers for ...

21 Sutherland Practice Areas, 56 Attorneys Named Among Nation’s Best in 2014 Chambers USA (May 23, 2014)
ATLANTA-Sutherland Asbill & Brennan LLP announces that 21 practices and 56 attorneys at the firm earned recognition in the 2014 edition of Chambers USA: America’s Leading Lawyers for Business. ...

21 Sutherland Practice Areas, 52 Attorneys Named Among Nation’s Best in 2013 Chambers USA (May 24, 2013)
ATLANTA and WASHINGTON (May 24, 2013) - Sutherland Asbill & Brennan LLP announces that 21 practices and 52 attorneys at the firm earned recognition in the 2013 edition of Chambers USA: America’s ...

20 Sutherland Practice Areas, 53 Attorneys Named Among Nation’s Best in 2012 Chambers USA (June 7, 2012)
ATLANTA and WASHINGTON (June 7, 2012) - Sutherland Asbill & Brennan LLP announces that 20 practices and 53 attorneys at the firm earned recognition in the 2012 edition of Chambers USA: America’s ...

Multimedia

Webcast: Planning for a patchwork of best interest standards - recent developments (February 27, 2019)
With 2019 underway, regulatory developments governing broker-dealer and investment adviser standards of conduct continue to advance on a number of fronts. Join Eversheds Sutherland for a webcast ...

Webcast: Planning for a patchwork of best interest standards (November 15, 2018)
As 2018 concludes, regulatory developments governing broker-dealer and adviser standards of conduct continue to advance on a number of fronts. Join Eversheds Sutherland for a webcast discussing steps ...

Webcast - MiFID II: Overview and Main Impacts for US Financial Institutions (November 1, 2017)
Eversheds Sutherland (International) attorneys Andrew Henderson and Michaela Walker and Eversheds Sutherland (US) attorneys Holly Smith, Meltem Kodaman and Ray Ramirez present the webcast “MiFID II: ...

Videocast: Financial and Technology Issues for U.S. Broker-Dealers (January 14, 2015)
Sutherland Partners Holly Smith and Vanessa Scott discuss financial and technology issues currently affecting SEC-registered broker-dealers, including compliance with SEC amendments to the ...

Podcast: Whistleblower Initiatives: What You Need to Know (January 26, 2011)
Sutherland Partners Cynthia M. Krus, Allegra J. Lawrence-Hardy and Holly H. Smith are presenting a Sutherland webinar entitled Whistleblower Initiatives: What You Need to Know, on January 26, 2011. ...

Publications

“The SEC rules regulating conflict minerals-cassiterite, columbite-tantalite, gold, wolframite and their derivatives-will impact thousands of companies and their suppliers throughout the world that use these minerals in their manufacturing processes. Manufacturers of electronics, heavy equipment, clothing and jewelry will be affected. Companies that invest in these sectors may also be impacted.”

Legal Alerts

Legal Alert: Proposed Regulation BI coverage of retirement investors (March 5, 2019)
There is some debate about the intended scope of proposed Regulation BI (Best Interest) coverage in the case of retirement investors.The SEC explicitly contemplated that the proposal would be ...

Legal Alert: The best interest standard under FINRA’s suitability rule (February 26, 2019)
In connection with the US Securities and Exchange Commission’s proposed Regulation Best Interest, the Financial Industry Regulatory Authority (FINRA) has asserted (with some case law support from the ...

Legal Alert: Broker-dealers selling annuities - preparing for the best interest standard under New York’s amended Insurance Regulation 187 (February 14, 2019)
Broker-dealers selling annuity products in New York will soon need to comply with New York's recently amended Insurance Regulation 187 ( Suitability and Best Interests in Life Insurance and Annuity ...

Legal Alert: FINRA’s 529 plan share class initiative (February 7, 2019)
On January 28, 2019, the Financial Industry Regulatory Authority, Inc. (FINRA) launched its 529 Plan Share Class Initiative (the Initiative) to encourage member firms to self-report potential ...

Legal Alert: The SEC’s litigation against a firm for allegedly inadequate disclosure of shareholder service fees and 12b-1 fees (January 28, 2019)
During the past several years, the US Securities and Exchange Commission (SEC) has settled more than a dozen cases where the SEC alleged (with the firms neither admitting nor denying the charges) ...

Legal Alert: The far reach of state law - Nevada proposes fiduciary duty regulations for broker-dealers and investment advisers (January 28, 2019)
Under Nevada law, financial planners owe a fiduciary duty to their clients.1 In accordance with this duty, a financial planner must disclose, at the time advice is given, any gain the financial ...

Legal Alert: The other shoe has dropped - The SEC follows up with firms that didn’t self-report under the share class initiative (December 12, 2018)
The Share Class InitiativeOn February 12, 2018, the Division of Enforcement of the US Securities and Exchange Commission (SEC) announced the Share Class Selection Disclosure Initiative ...

Legal Alert: CFTC and SEC continue their efforts to regulate virtual currencies and Blockchain-based smart contracts (December 3, 2018)
For those longing for the heady days of the cryptocurrency free-for-all, this November is proving to be the start of the winter of your discontent.The US Commodity Futures Trading Commission ...

Legal Alert: SEC and CFTC continue efforts to regulate cryptocurrency (November 13, 2018)
Two important events occurred in the cryptocurrency space last week.1 The Chairman of the US Commodity Futures Trading Commission (CFTC) gave a speech regarding regulators’ role in effectively ...

Legal Alert: Standards of conduct for investment professionals - overlapping protections for broker-dealer retirement customers (October 15, 2018)
The legal standards for broker-dealer firms (BDs) and their representatives, particularly in the retirement market, continue to be in flux. BDs were among those most affected by the promulgation in ...

Articles

Cybersecurity and Data Privacy review and update: Looking back on 2018 and planning ahead for 2019 (March 1, 2019)
From the implementation of the GDPR to the passage of the CCPA, the year 2018 proved to be a monumental one for cybersecurity and data privacy. Regulators from around the world responded to ...

Broker-Dealers and Securities: Top Five Unclaimed Property Issues (Summer 2017)
Keanotes
First published in the Summer 2017 edition of Keanotes While securities have long been a hot spot for unclaimed property issues, the past several years have seen a continued expansion of audit ...

What SEC Transfer Agent Reforms May Mean (April 26, 2016)
Compliance Reporter
On December 22, 2015, the U.S. Securities and Exchange Commission (SEC) took the first step in overhauling SEC regulation of transfer agents, the little-discussed but critical intermediaries involved ...

The Final Rule: DOL’s Expanded Definition of Investment Advice Fiduciary Under ERISA and Revised Complex of Exemptions (April 12, 2016)
Just less than a year since its proposal, and just more than six months after receiving thousands of pages of commentary, petitions and hearing testimony, the Department of Labor finalized its ...

Broker-Dealers - New Targets of Unclaimed Property Audits (April 10, 2015)
Law360
Following on the heels of multimillion-dollar unclaimed property settlements involving more than 20 large life insurance companies, unclaimed property auditors have shifted their focus to ...

Holding Customer Checks: SEC “No Action” Letter Gives Significant Relief to Introducing Broker-Dealer (March 30, 2015)
National Society of Compliance Professionals
In her article for National Society of Compliance Professionals, Partner Holly Smith discusses the Securities and Exchange Commission’s recent “No-Action” letter, which interprets a specific ...

First Steps Toward Building a Conflict Minerals Compliance Program (December 10, 2012)
Reprinted with permission from Corporate Compliance Insights

SEC's Proposed 'Conflict' Resolution (July 10, 2012)
Law360

Blowing the Whistle: New SEC Rules Set the Stage for Increased Reporting of Potential Securities Law Violations (September/October 2011)
Reprinted with permission from Practical Compliance & Risk Management For The Securities Industry

No Easy Road - Developing a Fiduciary Standard for Broker-Dealers (July/August 2010)
Reprinted with permission from NSCP Currents

Presentations

“Public speaking and writing is one way that I try to stay on top of cutting-edge issues, like the SEC’s conflict minerals rules and the new rules for lost securityholders. The regulated financial industry world changes constantly-I enjoy being able to weigh in with an opinion through public speaking.”

Presentations

Diminished Capacity Issues for Investors and Advisors (March 25, 2019)
SIFMA C&L Annual Seminar
Eversheds Sutherland Partner Holly Smith presents “Diminished Capacity Issues for Investors and Advisors” at the SIFMA C&L Annual Seminar on March 25, 2019, in Phoenix, Arizona.

Webcast: Planning for a patchwork of best interest standards - recent developments (February 27, 2019)
With 2019 underway, regulatory developments governing broker-dealer and investment adviser standards of conduct continue to advance on a number of fronts. Join Eversheds Sutherland for a webcast ...

Webcast: Planning for a patchwork of best interest standards (November 15, 2018)
As 2018 concludes, regulatory developments governing broker-dealer and adviser standards of conduct continue to advance on a number of fronts. Join Eversheds Sutherland for a webcast discussing steps ...

What You Don’t Know Can Hurt You-State Rules Affecting Federally Registered Firms (October 29, 2018)
National Association of Compliance Professionals National Conference
Eversheds Sutherland (US) Partner Holly Smith presents on the panel “What You Don’t Know Can Hurt You-State Rules Affecting Federally Registered Firms” at the National Association of Compliance ...

RegEd Webcast: The SEC’s Proposed Standard of Conduct Rules and Forms for Broker-Dealers and Investment Advisers (June 7, 2018)
RegEd
Eversheds Sutherland (US) Partners Susan Krawczyk, Brian Rubin and Holly Smith present The SEC’s Proposed Standard of Conduct Rules and Forms for Broker-Dealers and Investment Advisers, a webcast ...

Seniors and Vulnerable Investors - New Rules, Best Practices, & Practical Steps to Prevent and Detect Financial Exploitation (June 4, 2018)
NSCP Spring Conference
Eversheds Sutherland (US) Partner Holly Smith joins a panel of speakers to present, Seniors and Vulnerable Investors - New Rules, Best Practices, & Practical Steps to Prevent and Detect Financial ...

Roundtable discussion: The SEC’s proposed fiduciary duty and standards of conduct for broker-dealers and investment advisers (May 16, 2018)
Eversheds Sutherland hosts a roundtable on “The SEC’s Proposed Fiduciary Duty and Standards of Conduct for Broker-Dealers and Investment Advisers” on May 16, 2018, in New York, New York. The program ...

Roundtable discussion: The SEC’s proposed fiduciary duty and standards of conduct for broker-dealers and investment advisers (May 15, 2018)
Eversheds Sutherland hosts a roundtable on “The SEC’s Proposed Fiduciary Duty and Standards of Conduct for Broker-Dealers and Investment Advisers” on May 15, 2018, in New York, New York. The program ...

Older Investors Summit 2017 (October 19, 2017)
Eversheds Sutherland (US) Partner Holly Smith moderates the panel, The View from Capitol Hill: The Senior$afe Act and Beyond and Eversheds Sutherland (US) Partner Bruce Bettigole moderates the ...

BD DOL Fiduciary Rule Implementation Forum (May 9, 2017)
National Society of Compliance Professionals
Eversheds Sutherland (US) Partner Holly Smith presents BD DOL Fiduciary Rule Implementation Forum at the NSCP Spring Conference on May 9, 2017, in New York, New York.

Areas of Practice (7)

  • Financial Services
  • Broker-Dealer
  • Corporate
  • Retirement Products & Services
  • Insurance
  • Cybersecurity & Privacy
  • Unclaimed Property

Education & Credentials

Contact Information:
202.383.0245  Phone
www.eversheds-sutherland.com
University Attended:
Georgetown University, B.A.
Law School Attended:
The Catholic University of America, Columbus School of Law, J.D.
Year of First Admission:
1982
Admission:
1982, District of Columbia
Memberships:

Professional Activities
Member, Broker-Dealer Legal and Regulatory Affairs Subcommittee, National Society of Compliance Professionals (NSCP)
Former Member, Board of Directors, NSCP

Birth Information:
Pittsburgh, Pennsylvania, January 16, 1957
ISLN:
903619835

Peer Reviews

2.9/5.0
A Martindale-Hubbell Peer Rating reflects a combination of achieving a Very High General Ethical Standards rating and a Legal Ability numerical rating.

*Peer Reviews provided before April 15, 2008 are not displayed.

Documents (35)

Documents by this lawyer on Martindale.com

Washington, District of Columbia

Contact Holly H. Smith

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