Overview
- Margaret Ryan, who led the SEC’s Division of Enforcement, resigned on March 16 after roughly six months, and the agency named Sam Waldon acting director.
- Reuters reported that Ryan disagreed with Chair Paul Atkins and other Republican appointees over how to handle matters tied to President Trump’s circle, including cases involving Justin Sun and Elon Musk.
- In March, the SEC moved to settle its case against crypto entrepreneur Justin Sun for $10 million without an admission of wrongdoing, with filings indicating other claims would be dismissed.
- Separate March court filings show the SEC is in talks to settle charges that Elon Musk waited too long in 2022 to disclose his stake in Twitter, and a hearing transcript noted those talks involved officials above the case staff.
- The SEC said enforcement decisions rest on facts, the law and policy, as the agency pivots toward traditional fraud cases and now requires commissioners to approve the opening of formal investigations.