On 21 August 2025, the United States Securities and Exchange Commission (US SEC) announced the appointment of Judge Margaret “Meg” Ryan as Director of the Division of Enforcement, effective 2 September 2025. She succeeds Acting Director Sam Waldon, who will return to his role as Chief Counsel for the Division.
US SEC Chairman Paul S. Atkins welcomed Judge Ryan, noting:
“I am thrilled to welcome Judge Ryan to the SEC, She brings to the Commission decades of experience as a respected judge and practitioner of the law. She is fulfilling a critical role. Judge Ryan will lead the Division guided by Congress’ original intent: enforcing the securities laws, particularly as they relate to fraud and manipulation. I thank Sam for his service since January as Acting Director of Enforcement, I am very pleased that he will continue serving at the Commission in the critical role of Chief Counsel for the Enforcement Division. His good judgement and knowledge of the securities laws serve the SEC very effectively.”
Judge Ryan, a senior judge of the United States Court of Appeals for the Armed Forces and lecturer at Harvard Law School, stated:
“It is my honor to join the Commission as Director of the Division of Enforcement, I look forward to joining the Commission in its important work to ensure that the Division is true to the US SEC’s mission in taking action on behalf of investors harmed by those who break the securities laws and providing an effective deterrent against fraudulent and manipulative activities in our financial markets.”
Mr Waldon, who has served as Acting Director since January 2025, will continue to contribute as Chief Counsel, a position in which he has extensive prior experience.
