SEC Leadership Hails a New Era
SEC Chairman Paul Atkins hailed the appointment, stating: “She brings to the commission decades of experience as a respected judge and practitioner of the law.”
Judge Ryan, in her own statement, emphasized her commitment to the agency’s mission: “It is my honor to join the commission as director of the Division of Enforcement. I look forward to ensuring we act on behalf of investors harmed by lawbreakers while deterring fraud and manipulation in our financial markets.”
Filling a Power Vacuum After Grewal’s Exit
The division has been without a permanent head since Gurbir Grewal departed last October for Milbank LLP. Grewal left a legacy of aggressive enforcement, particularly in the cryptocurrency sector, where the SEC levied record penalties against major banks and tech firms.
But under Atkins’ leadership, the agency has shifted tone, retreating from several crypto-related cases. Atkins has openly questioned whether most tokens even qualify as securities, signaling a more cautious approach compared to his predecessor.
