More On Legal & Compliancefrom The Advisor's Professional Library
- Do’s and Don’ts of Advisory Contracts In preparation for a compliance exam, securities regulators typically will ask to see copies of an RIAs advisory agreements. An RIA must be able to produce requested contracts and the contracts must comply with applicable SEC or state rules.
- Privacy Policies and Rules Whether an RIA is SEC or state-registered, the firm must have policies and procedures in effect to protect clients privacy. Policies and procedures should explicitly require an RIA to send out its privacy notice each year.
The Certified Financial Planner Board of Standards has beefed up its lobbying power by hiring Todd Cranford, the former senior counsel on the House Financial Services Committee who advised former Rep. Barney Frank, D-Mass.
Cranford, who was appointed to the CFP Board’s newly created position of director of government relations, also advised members of the House Financial Services Committee on policy and legal issues related to capital markets and securities.
“We are delighted to bring aboard someone with Todd’s legal, legislative and advocacy experience,” said Marilyn Mohrman-Gillis, Esq., CFP Board’s managing director for public policy and communications, in a statement. “His time at the U.S. Securities and Exchange Commission as well as his years spent on Capitol Hill immersed in the legislative process make him well-positioned to advocate for greater access for all Americans to competent and ethical financial planning.”
Kevin Keller, CFP Board’s CEO, said in the same statement that “Championing CFP Board’s legislative and regulatory goals before policymakers is key to fulfilling its mission of promoting the value of professional, competent and ethical financial planning services for the benefit of the public. In his new position, Todd Cranford will undoubtedly help give CFP Board’s stakeholders an even stronger voice in Washington.”
Cranford, who will report to Mohrman-Gillis, most recently worked at Patton Boggs in Washington, where he developed and executed strategies to achieve clients’ business and policy goals by engaging key policymakers. In his new position, he will work to “advance the mission of CFP Board by advocating its public policy positions before Congress, the executive branch of the federal government, state legislatures and other state governmental offices,” CFP Board says.
Cranford has worked in the SEC’s Division of Enforcement, where he investigated, developed and instituted civil and administrative actions involving violations of federal securities laws.
His other professional activities have included serving as legislative liaison in the Office of the Manhattan Borough President, national advance staff for the Clinton/Gore ’92 campaign, associate attorney at Wilkie Farr & Gallagher in New York City, and law clerk for the Hon. Anna Diggs Taylor in Detroit, Mich.
Cranford earned his juris doctor from the Columbia University School of Law in New York City and his bachelor of arts from Dartmouth College in Hanover, N.H.