John J. Cross III is the Director of the new Office of Municipal Securities at the U.S. Securities and Exchange Commission. Mr. Cross joined the SEC in September 2012. The Dodd-Frank Act called for the creation of this new office as a stand-alone office that reports directly to the SEC Chairman and that administers SEC rules on municipal advisors, issuers, broker-dealer practices, and investors in the municipal securities market. The SEC Office of Municipal Securities also oversees rulemaking by the Municipal Securities Rulemaking Board, an independent self-regulatory organization.
Mr. Cross has a broad range of experience with municipal finance transactions in nearly every state, including experience with some of the largest and most complex municipal financings ever undertaken. Mr. Cross has been a leader in the public policy area affecting municipal finance.
Previously, from 2006-2012, Mr. Cross served as Associate Tax Legislative Counsel in the Office of Tax Policy at the U.S. Treasury Department, where he had significant responsibility for legislative and regulatory tax matters affecting municipal bonds. Mr. Cross led the Treasury Department’s implementation of the municipal bond provisions of the 2009 Recovery Act and he played a significant role in the agency’s efforts to address municipal bond market challenges in the 2008 financial crisis.
From 1994 to 2006, Mr. Cross was a partner in the Washington, D.C. office of Hawkins Delafield & Wood LLP, a national municipal finance specialty law firm. From 1990-1993, Mr. Cross was Counsel to the Assistant Chief Counsel in the Financial Institutions and Products group at the IRS, where he was one of the principal authors of
comprehensive regulations on the arbitrage investment restrictions on tax-exempt bonds.
From 1981-1990, Mr. Cross was in private practice in Atlanta, Georgia. Mr. Cross has a B.A. Degree from Brown University (1978), a J.D. Degree from Vanderbilt University Law School (1981), where he was a member of the Vanderbilt Law Review, and an L.L.M. in Taxation from Georgetown University Law Center (1988). Mr. Cross has been active in professional organizations, including the American Bar Association and the National Association of Bond Lawyers, where he served as a member of the Board of Directors from 2001 to 2004. He also is a member of the
editorial board of the Municipal Finance Journal.