
James G. Smith
Partner
Overview
Representative Experience
Areas of Focus
News & Insights
10.20.2025
Insights
Placement Agents and the SEC's Marketing Rule Revisited
The Securities and Exchange Commission’s (“SEC”) Marketing Rule went into full effect three years ago. The Marketing Rule applies a principles-based approach to regulating marketing and advertising by SEC-registered investment advisers (“RIAs”). A major change brought by the Marketing Rule was to include within “advertising” the solicitation activities by placement agents raising capital for private funds, thereby affixing new responsibilities on RIAs.

10.07.2025
Client Advisories
Federal Regulation of Payment Stablecoins Underway
As part of Congress’ effort to provide clarity and legal guidance in digital assets, the Guiding and Establishing National Innovation for U.S. Stablecoins Act, or Genius Act, was signed into law on July 18, 2025. The Genius Act establishes a comprehensive regulatory framework for payment stablecoins.

07.07.2025
Client Advisories
One Big Beautiful Bill Makes Permanent Qualified Opportunity Zones Program … with Changes
On July 4, 2025, President Donald J. Trump signed the bill commonly known as the One Big Beautiful Bill (OBBB) (available here), which includes sweeping tax changes. One of those changes was to the Qualified Opportunity Zones (QOZ) program.