SEC Enforcement Director's First Speech: "Fairness Is Not Weakness"

Judge Margaret "Meg" Ryan's first speech as Securities and Exchange Commission (SEC) Enforcement Director offered an early look at how the program will operate under Chairman Atkins and her leadership. Her speech included the famous Spiderman quote that "with great power comes great responsibility." She framed her leadership approach around integrity, fidelity to the law, and the "fair and judicious use" of government power. She specifically rejected the idea that SEC enforcement has been "tossed to the wayside," instead describing a principles‑driven return to basics and a focus on impactful cases.

Judge Ryan stressed process, with a particular emphasis on the Wells stage. Firms and individuals that receive Wells notices will now have four weeks to respond in writing, and a senior staff member of the Division of Enforcement will attend every Wells meeting. She stated that Wells submissions will be carefully reviewed by both staff and the Commission and can affect