On 12 January 2026, the U.S. Securities and Exchange Commission announced the appointment of Paul H. Tzur and David M. Morrell as Deputy Directors of the Division of Enforcement.
US SEC Chairman Paul S. Atkins stated: “Paul and David are excellent attorneys and dedicated public servants, I am delighted to have such talented individuals join the Division of Enforcement to aid in its critical role of protecting investors and the markets.”
Judge Margaret A. Ryan, Director of the US SEC’s Division of Enforcement stated: “Paul and David both have a wealth of experience as experienced trial, litigation, and appellate lawyers. Their experience, intellect, and common sense will serve them well as they assume leadership over enforcement investigations and litigations in several offices that play a key role in achieving our investor protection mission. I welcome them to our talented enforcement team, they are very well-regarded practitioners, and I am extremely pleased that Paul and David agreed to return to public service.”
Mr. Tzur assumes responsibility for enforcement programmes in the Chicago, Atlanta, and Miami Regional Offices, while Mr. Morrell oversees New York, Boston, and Philadelphia, jurisdictions that collectively account for a substantial share of complex securities fraud, market abuse, issuer disclosure, and asset management enforcement actions.
Mr. Tzur stated: “I am honored and thrilled to be joining the SEC. I look forward to working with Chairman Atkins, the Commission, and Director Ryan to identify and pursue sensible enforcement actions that aim to protect investors and maintain U.S. markets as the most trusted in the world.”
Mr. Morrell stated: “It is a privilege to join the Division of Enforcement in advancing its mission of protecting the integrity of our financial markets through proper enforcement of U.S. securities laws.”
