The Securities and Exchange Commission (“SEC”) has named Judge Margaret “Meg” Ryan as the new Director of the Division of Enforcement. Judge Ryan will succeed Acting Director Sam Waldon, who has served as Acting Director of the Division of Enforcement since January 2025, following Sanjay Wadhwa’s departure from the agency. Judge Ryan’s tenure will begin September 2, 2025, at which point Waldon will return to his former role as Chief Counsel for the Enforcement Division.

Judge Ryan is currently the senior Judge of the United States Court of Appeals for the Armed Forces. She was nominated to the court in December 2006 and reached senior status in August 2020. Judge Ryan also serves as a lecturer at Harvard Law School. Prior to her appointment as a judge, she was a partner at two law firms a

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