WASHINGTON — The Securities and Exchange Commission is still seeking a director for its Office of Municipal Securities and has extended its search until March 4.
The SEC has posted the position on the U.S. government's job site.
The muni office director, who by law reports directly the SEC chairman, is responsible for coordinating the commission's muni market activities and providing policy and technical guidance to the commission. The job requires a law degree, active membership in a state bar or the bars of D.C. or Puerto Rico, and at least four years of experience as an attorney. The salary range is $181,800 to $240,986.
The director's chair has been vacant since the departure of John Cross in November to return to the Treasury Department as associate tax legislative counsel. Cross had served as the SEC's muni chief since the office once again became independent and reporting to the SEC chair in late 2012 under the Dodd-Frank Act. He oversaw the development of the SEC's municipal advisor registration rule, something his successor will have to implement as the Municipal Securities Rulemaking Board continues to propose its own MA rules.
Sources said the office has continued to be functional and responsive in the absence of a director, and OMS deputy director Jessica Kane and chief counsel Rebecca Olsen have shared time representing the muni office publicly. A source familiar with the job search said the fact that the job continues to be posted online does not necessarily mean the commission will not promote from within the muni office itself.
The final hiring decision will be up to the SEC chairman, currently former federal prosecutor Mary Jo White.
