Smith Group Asset Management, LLC

Includes form instructions and options. Options shown in this text do not identify which boxes were selected.

GENERAL INSTRUCTIONS
This Disclosure Reporting Page (DRP ADV) is an 
INITIAL OR
AMENDED response used to report details for affirmative responses to Items 11.C., 11.D.,
11.E., 11.F. or 11.G. of Form ADV.
Regulatory Action
Check item(s) being responded to:
11.C(1)
11.C(2)
11.C(3)
11.C(4)
11.C(5)
11.D(1)
11.D(2)
11.D(3)
11.D(4)
11.D(5)
11.E(1)
11.E(2)
11.E(3)
11.E(4)
11.F.
11.G.
Use a separate DRP for each event or proceeding . The same event or proceeding may be reported for more than one person or entity using one DRP. File
with a completed Execution Page. 
One event may result in more than one affirmative answer to Items 11.C., 11.D., 11.E., 11.F. or 11.G. Use only one DRP to report details related to the
same event. If an event gives rise to actions by more than one regulator, provide details for each action on a separate DRP.
PART I
A.  The person(s) or entity(ies) for whom this DRP is being filed is (are):
You (the advisory firm)
You and one or more of your advisory affiliates
One or more of your advisory affiliates
If this DRP is being filed for an advisory affiliate, give the full name of the advisory affiliate below (for individuals, Last name, First name, Middle name). 
If the advisory affiliate has a CRD number, provide that number. If not, indicate "non-registered" by checking the appropriate box.
ADV DRP - ADVISORY AFFILIATE
CRD
Number:
This advisory affiliate is 
a Firm
an Individual
Registered:
Yes
No
Name:
CANTOR FITZGERALD, L.P.
(For individuals, Last, First,
Middle)
This DRP should be removed from the ADV record because the advisory affiliate(s) is no longer associated with the adviser.

This DRP should be removed from the ADV record because: (1) the event or proceeding occurred more than ten years ago or (2) the adviser is
registered or applying for registration with the SEC or reporting as an exempt reporting adviser with the SEC and the event was resolved in the
adviser's or advisory affiliate's favor.
If you are registered or registering with a state securities authority , you may remove a DRP for an event you reported only in response to Item
11.D(4), and only if that event occurred more than ten years ago. If you are registered or registering with the SEC, you may remove a DRP for any
event listed in Item 11 that occurred more than ten years ago.
This DRP should be removed from the ADV record because it was filed in error, such as due to a clerical or data-entry mistake. Explain the
circumstances: 
B.
If the advisory affiliate is registered through the IARD system or CRD system, has the advisory affiliate submitted a DRP (with Form ADV, BD or U-4) to
the IARD or CRD for the event? If the answer is "Yes," no other information on this DRP must be provided.
 Yes
 No
NOTE: The completion of this form does not relieve the advisory affiliate of its obligation to update its IARD or CRD records.
PART II
1.  Regulatory Action initiated by:
SEC   
Other Federal   
State   
SRO
Foreign
(Full name of regulator, foreign financial regulatory authority, federal, state, or SRO) 
SECURITIES EXCHANGE COMMISION
2.
Principal Sanction:
Cease and Desist
Other Sanctions: 
3.
Date Initiated (MM/DD/YYYY): 
12/12/2024
 Exact
 Explanation
If not exact, provide explanation:
4.
Docket/Case Number:
3-22349
5.
Advisory Affiliate Employing Firm when activity occurred which led to the regulatory action (if applicable):
6.
Principal Product Type:
Other
Other Product Types: 
UNSPECIFIED SECURITIES
7.
Describe the allegations related to this regulatory action (your response must fit within the space provided):
THE SECURITIES AND EXCHANGE COMMISSION ("COMMISSION") DEEMS IT APPROPRIATE THAT CEASE-AND-DESIST PROCEEDINGS BE, AND HEREBY
ARE, INSTITUTED AGAINST CANTOR FITZGERALD, L.P. ("CFLP"). IN ANTICIPATION OF THE INSTITUTION OF THESE PROCEEDINGS, CFLP HAS SUBMITTED
AN OFFER OF SETTLEMENT WHICH THE COMMISSION HAS DETERMINED TO ACCEPT. THE COMMISSION FINDS THAT THIS MATTER CONCERNS
MATERIALLY FALSE AND MISLEADING STATEMENTS MADE BY TWO SPECIAL PURPOSE ACQUISITION COMPANIES ("SPACS") CONTROLLED BY CANTOR
FITZGERALD, L.P. ("CFLP"). THE MISSTATEMENTS RELATE TO ACTIVITIES CFLP, ACTING THROUGH A SMALL TEAM CONSISTING OF CFLP EXECUTIVES AS
WELL AS PERSONNEL EMPLOYED BY CFLP SUBSIDIARIES, CAUSED EACH SPAC TO TAKE PRIOR TO ITS INITIAL PUBLIC OFFERING. THIS SMALL CFLP
TEAM CONTROLLED THE ACTIONS OF THE CFLP SPACS, INCLUDING CONDUCTING A CENTRALIZED SEARCH FOR POTENTIAL BUSINESS COMBINATION
TARGETS, AND ENGAGING IN SUBSTANTIVE DISCUSSIONS WITH POTENTIAL TARGETS. TO DATE CFLP HAS SPONSORED NINE SPACS THROUGH
SUBSIDIARIES, WITH THE MAJORITY LAUNCHING THEIR IPOS OVER THE SEVEN MONTHS SPANNING AUGUST 2020 TO FEBRUARY 2021. IN NOVEMBER
2020, A CFLP SPAC, CF FINANCE ACQUISITION CORP. II ("CFAC II"), ANNOUNCED AN AGREEMENT TO MERGE WITH VIEW, INC. IN FORM S-1 FILINGS
AND A PROSPECTUS CFLP CAUSED CFAC II TO FILE WITH THE COMMISSION BEFORE ITS AUGUST 2020 IPO, CFAC II FALSELY STATED THAT NEITHER
CFAC II NOR ANYONE ACTING ON ITS BEHALF HAD INITIATED ANY SUBSTANTIVE DISCUSSIONS WITH ANY BUSINESS COMBINATION TARGET,
CONTACTED ANY OF THE PROSPECTIVE TARGET BUSINESSES CONSIDERED BY CFLP'S PRIOR SPAC CF FINANCE ACQUISITION CORP., OR APPROACHED
ANY SPECIFIC TARGET BUSINESS. IN FACT, CFLP PERSONNEL, ACTING ON BEHALF OF THE SPAC, HAD ALREADY INITIATED DISCUSSIONS WITH VIEW
AND AT LEAST ONE OTHER POTENTIAL TARGET REGARDING A POTENTIAL BUSINESS COMBINATION AS EARLY AS JUNE 2020, AND THOSE DISCUSSIONS
CONTINUED DURING THE TIME PERIOD BEFORE THE CFAC II IPO. THE FORM S-4 FILINGS AND A BUSINESS COMBINATION PROXY STATEMENT CFLP
CAUSED CFAC II TO FILE WITH THE COMMISSION IN FEBRUARY 2021 ALSO INCLUDED FALSE STATEMENTS ABOUT THE TRUE HISTORY OF CFLP'S
INTERACTIONS WITH VIEW. SIMILARLY, IN JULY 2021, ANOTHER CFLP SPAC, CF ACQUISITION CORP. V ("CFAC V"), ANNOUNCED AN AGREEMENT TO
MERGE WITH SATELLOGIC INC. THE FORM S-1 FILINGS AND A PROSPECTUS CFLP CAUSED CFAC V TO FILE WITH THE COMMISSION BEFORE ITS
JANUARY 2021 IPO FALSELY STATED THAT NEITHER CFAC V NOR ANYONE ACTING ON ITS BEHALF HAD INITIATED ANY SUBSTANTIVE DISCUSSIONS WITH
ANY BUSINESS COMBINATION TARGET, CONTACTED ANY OF THE PROSPECTIVE TARGET BUSINESSES CONSIDERED BY THE FOUR PRIOR CFLP SPACS, OR
APPROACHED ANY SPECIFIC TARGET BUSINESS. IN FACT, CFLP PERSONNEL, ACTING ON BEHALF OF ITS SPACS, HAD ALREADY INITIATED DISCUSSIONS
WITH SATELLOGIC AND AT LEAST TWO OTHER POTENTIAL TARGETS REGARDING A POTENTIAL BUSINESS COMBINATION AS EARLY AS DECEMBER 2020,
AND THOSE DISCUSSIONS CONTINUED DURING THE TIME PERIOD BEFORE THE CFAC V IPO. PRE-IPO DISCUSSIONS WITH SATELLOGIC ABOUT A
POTENTIAL BUSINESS COMBINATION WITH A CFLP SPAC EXPLICITLY INCLUDED THE POSSIBILITY OF USING THE NOT-YET-LAUNCHED CFAC V AS THE
ACQUISITION VEHICLE. THE BUSINESS COMBINATION PROXY STATEMENT CFLP CAUSED CFAC V TO FILE WITH THE COMMISSION IN NOVEMBER 2021
ALSO INCLUDED FALSE STATEMENTS ABOUT THE TRUE HISTORY OF CFLP'S INTERACTIONS WITH SATELLOGIC. AS A RESULT OF THE MATERIALLY

MISLEADING STATEMENTS DESCRIBED THROUGHOUT THIS ORDER, CFLP CAUSED CFAC II AND CFAC V TO VIOLATE SECTIONS 17(A)(2) AND 17(A)(3) OF
THE SECURITIES ACT, ANTIFRAUD PROVISIONS OF THE FEDERAL SECURITIES LAWS. CFLP ALSO CAUSED CFAC II AND CFAC V TO VIOLATE SECTION
14(A) OF THE EXCHANGE ACT AND RULE 14A-3 THEREUNDER.
8.
Current Status?      
 Pending
 On Appeal
 Final
9.
If on appeal, regulatory action appealed to (SEC, SRO, Federal or State Court) and Date Appeal Filed:
If Final or On Appeal, complete all items below. For Pending Actions, complete Item 13 only.
10. How was matter resolved:
Order
11. Resolution Date (MM/DD/YYYY):
12/12/2024
 Exact
 Explanation
If not exact, provide explanation:
12. Resolution Detail:
A.  Were any of the following Sanctions Ordered (check all appropriate items)?
 Monetary/Fine Amount: $ 6,750,000.00
 Revocation/Expulsion/Denial
 Disgorgement/Restitution
 Censure
 Cease and Desist/Injunction
 Bar
 Suspension
B.
Other Sanctions Ordered:
Sanction detail: if suspended, enjoined or barred, provide duration including start date and capacities affected (General Securities Principal,
Financial Operations Principal, etc.). If requalification by exam/retraining was a condition of the sanction, provide length of time given to
requalify/retrain, type of exam required and whether condition has been satisfied. If disposition resulted in a fine, penalty, restitution,
disgorgement or monetary compensation, provide total amount, portion levied against you or an advisory affiliate, date paid and if any portion
of penalty was waived: 
CFLP IS ORDERED TO CEASE AND DESIST FROM COMMITTING OR CAUSING ANY VIOLATIONS AND ANY FUTURE VIOLATIONS OF SECTIONS 17(A)
(2) OR 17(A)(3) OF THE SECURITIES ACT AND SECTION 14(A) OF THE EXCHANGE ACT AND RULE 14A-3 THEREUNDER AND SHALL PAY A CIVIL
MONEY PENALTY OF $6.75 MILLION.
13. Provide a brief summary of details related to the action status and (or) disposition and include relevant terms, conditions and dates (your response
must fit within the space provided).
WE ARE REQUIRED TO MAKE THIS DISCLOSURE IN REGARD TO CANTOR FITZGERALD LP ("CFLP") BEING FINED BY THE SEC. THIS IS NOT RELATED TO
INVESTMENT ADVICE PROVIDED BY SMITH GROUP ASSET MANAGEMENT, LLC ("SMITH").