SEC Taps Gibson Dunn Partner David Woodcock As Enforcement Director

Woodcock set to replace Margaret Ryan amid ethics scrutiny and shifting enforcement priorities at the agency

Apr. 8, 2026 at 11:05pm

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A minimalist studio still life featuring a stack of official documents, a pen, and a pair of reading glasses, symbolizing the abstract concepts of corporate governance and financial regulation.The SEC's selection of a new enforcement director signals a potential shift in the agency's priorities and approach to high-profile cases.Dallas Today

The U.S. Securities and Exchange Commission has chosen Gibson Dunn partner David Woodcock as its next director of enforcement, according to people familiar with the decision. Woodcock, a former SEC alumnus, is expected to replace Margaret Ryan, who abruptly resigned in March amid clashes over enforcement priorities.

Why it matters

Woodcock's selection comes at a pivotal time for the SEC, as the agency navigates turnover in its leadership and debates over the direction of its enforcement efforts, including high-profile cases involving crypto and tech entrepreneurs. His appointment will likely face scrutiny over potential ethics restrictions on his post-government work.

The details

Woodcock is a partner in Gibson Dunn's Dallas and Washington, D.C., offices and co-chairs the firm's securities enforcement practice. His practice focuses on internal investigations, accounting and financial-reporting issues, and defending clients in SEC matters. The anticipated appointment follows the abrupt March 16 resignation of Judge Margaret A. "Meg" Ryan as director of the SEC's Division of Enforcement.

  • On March 16, 2026, Judge Margaret A. "Meg" Ryan resigned as director of the SEC's Division of Enforcement.
  • In the coming weeks, the SEC expects to announce a permanent successor to replace Ryan.

The players

David Woodcock

A partner at Gibson Dunn law firm who is expected to be named the next director of the SEC's Division of Enforcement.

Margaret A. "Meg" Ryan

The former director of the SEC's Division of Enforcement who abruptly resigned in March 2026.

Paul Atkins

The SEC Chairman who reportedly clashed with former Enforcement Director Ryan over enforcement priorities.

Sam Waldon

The SEC's Principal Deputy Director who was named acting director of the Division of Enforcement after Ryan's resignation.

Justin Sun

A crypto entrepreneur whose case was reportedly part of the internal debates over enforcement priorities at the SEC.

Elon Musk

A tech entrepreneur whose case was reportedly part of the internal debates over enforcement priorities at the SEC.

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What’s next

If Woodcock accepts the role, ethics restrictions on his post-government employment are likely to surface quickly. Federal rules generally bar former officials from representing private clients in matters they personally worked on, and agency ethics lawyers often seek recusal commitments when senior attorneys move between the SEC and private practice.

The takeaway

Woodcock's selection as the next SEC Enforcement Director comes at a critical juncture for the agency, as it navigates leadership changes and debates over the direction of its enforcement priorities. His appointment will likely face close scrutiny over potential conflicts of interest and ethics restrictions stemming from his previous work in private practice.