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ARTICLE · 14 APRIL 2026

Looking Back, Looking Ahead: SEC FY 2025 Results And New Enforcement Director Named

The SEC on April 7, 2026, released its enforcement results for fiscal year (FY) 2025, which ended on September 30, 2025. A day later, on April 8, the Commission announced the appointment of David Woodcock to serve as the Director of the Division of Enforcement.

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The SEC on April 7, 2026, released its enforcement results for fiscal year (FY) 2025, which ended on September 30, 2025. A day later, on April 8, the Commission announced the appointment of David Woodcock to serve as the Director of the Division of Enforcement.

The Commission used the announcement of FY 2025 results to highlight a philosophical shift in how the Commission under President Donald Trump's administration is approaching enforcement. The current leadership is reorienting the program away from what it characterizes as headline-driven, high-volume enforcement activity and toward actions focused on a so-called "back to basics" approach to fraud, investor protection and individual accountability. And the news of Mr. Woodcock's appointment – following an abrupt and surprising departure of his predecessor, Judge Margaret Ryan, on March 16, 2026 – echoed that sentiment.

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