Former SEC Official Rejoins Agency as Top Enforcement Chief

David Woodcock, a partner at Gibson Dunn, will take over the role after the sudden resignation of the previous director.

Apr. 10, 2026 at 1:12pm

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A minimalist studio still life featuring a stack of financial documents, a pen, and a calculator arranged on a clean, monochromatic background, conceptually representing the abstract concepts of corporate strategy, finance, and market regulation.The SEC's new Enforcement Director brings a track record of cracking down on accounting violations and false financial statements.Fort Worth Today

The Securities and Exchange Commission announced that David Woodcock, a partner at law firm Gibson Dunn & Crutcher, will be the agency's new Enforcement Director starting on May 4. Woodcock previously served at the SEC from 2011 to 2015, including as chair of the financial reporting and audit task force that cracked down on accounting violations and false financial statements.

Why it matters

The SEC Enforcement Director plays a critical role in setting the agency's priorities and overseeing high-profile cases involving insider trading, accounting fraud, market manipulation, and breaches of fiduciary duty. Woodcock's return to the SEC comes at a time when the agency has faced criticism for a decline in enforcement actions and penalties during the Trump administration's second term.

The details

Woodcock will be taking over the role from Acting Enforcement Director Sam Waldon, who has been serving in the position since the sudden resignation of the previous director, Margaret "Meg" Ryan, in March. Ryan had been in the job for only about six months, and her departure prompted calls from senators for the SEC Chairman to explain the reasons behind her resignation.

  • Woodcock will start in his new role on May 4, 2026.
  • Woodcock previously served at the SEC from 2011 to 2015.

The players

David Woodcock

A partner at the law firm Gibson Dunn & Crutcher who is returning to the SEC to take on the top Enforcement Director role.

Paul Atkins

The Chairman of the Securities and Exchange Commission.

Sam Waldon

The Acting Enforcement Director at the SEC who will continue in the role until Woodcock starts.

Margaret "Meg" Ryan

The previous Enforcement Director who resigned from the SEC in March 2026 after only about six months in the role.

Rebecca Fike

A partner at the law firm Reed Smith who was an enforcement attorney in the SEC's Fort Worth office during Woodcock's previous tenure there.

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What they’re saying

“I am incredibly pleased to have David rejoin the SEC at this critical time, as we continue to focus on the types of misconduct that inflict the greatest harm to investors.”

— Paul Atkins, Chairman, Securities and Exchange Commission

“He is a good, smart, excellent lawyer who cares about the mission of the SEC.”

— Rebecca Fike, Partner, Reed Smith

What’s next

The SEC will continue to focus its enforcement efforts on insider trading, accounting fraud, market manipulation, and breaches of fiduciary duty by investment advisers under Woodcock's leadership.

The takeaway

Woodcock's return to the SEC as Enforcement Director signals the agency's intent to ramp up its enforcement activities after a period of decline during the Trump administration's second term. His experience leading the financial reporting and audit task force suggests a renewed emphasis on cracking down on accounting violations and false financial statements.