SEC taps military judge as Enforcement Division Director

The U.S. Securities and Exchange Commission (SEC) has appointed Margaret “Meg” Ryan, a senior judge on the U.S. Court of Appeals for the Armed Forces, as Director of the Division of Enforcement, effective Sept. 2, the agency announced on Aug. 21. Ryan will succeed Acting Director Sam Waldon, who will return to his prior role as Chief Counsel.

Ryan’s selection marks a notable departure from the traditional profile of SEC Enforcement Division leaders, who typically bring extensive experience in securities law or federal prosecution—a path taken by recent predecessors such as Gurbir Grewal and Stephanie Avakian. Instead, Ryan’s career is rooted in judicial service and military leadership.