On August 21, 2025, the SEC announced that Judge Margaret “Meg” Ryan will become the new Director of the SEC’s Division of Enforcement, effective September 2, 2025. The SEC highlighted Judge Ryan’s “decades of experience as a respected judge and practitioner of the law,” noting her long tenure as a judge of the United States Court of Appeals for the Armed Forces and her current teaching positions at several law schools. With Judge Ryan’s appointment, Acting Director of the Division of Enforcement Sam Waldon, who has served in that position since January 2025, will return to his previous role as Chief Counsel for the Division of Enforcement.

The SEC press release announcing Judge Ryan’s appointment is available here.