The SEC has appointed new Deputy Directors of its Enforcement Division, as well as a new General Counsel.
The US Securities and Exchange Commission (SEC) announced three new appointments to its agency over the past week.
The most recent arrival was Russell McGranahan as SEC General Counsel on January 15. He will oversee the provision of legal expertise and advice to the Office of the Chairman, commissioners, and agency staff.
Prior to McGranahan’s hire, Paul Tzur and David Morrell were named Deputy Directors of the Division of Enforcement on January 12. Tzur will oversee the SEC’s enforcement programme in Atlanta, Chicago and Miami offices, while Morrell will serve in Boston, New York and Philadelphia.
Before joining the SEC, Granahan previously worked as General Counsel for the US General Services Administration during the first 10 months of its inception. He has also 30 years in financial law, working in legal roles for Focus Financial Partners, BlackRock and in Eastern Europe for Skradden.
“It is an honor to have the opportunity to join the SEC and the Chairman’s senior team during this period of rapid technological and financial innovation,” said McGranahan.
“I look forward to working with my new SEC colleagues to embrace developments in a manner that responsibly fosters and maintains America’s preeminence in financial services and capital formation.”
Both Tzur and Morrell come with a history of work as lawyers, attorneys and in litigation.
Tzur served as an assistant US Attorney in the Northern District of Illinois as a prosecutor for the SEC Fraud Section. He has also held supervisory positions as Deputy Chief in the General Crimes Section and the Narcotics and Money Laundering Section.
Morrell has experience in civil litigation and government disputes. He has also served as Deputy Assistant General of the US Department of Justice’s Civil Division, leading the Federal Programs branch. Morrell also worked as a Special Assistant and Associate Counsel at the White House to the President and Associate Counsel from 2017-2019.
“Paul and David are excellent attorneys and dedicated public servants,” said SEC Chairman Paul Atkins. “I am delighted to have such talented individuals join the Division of Enforcement to aid in its critical role of protecting investors and the markets.
New hires, but less SEC enforcement action
Action from the SEC’s Enforcement Division dropped to the lowest in a decade last year according to a report from law firm Paul Weiss.
Enforcement action from the SEC division was 313, a 27% decrease from 2024 with only 36 actions taking place against public companies and subsidiaries, with four under Atkins’ regime. Monetary settlements also declined to $808m, a 45% decrease from the previous year.
The report outlined the fall in enforcement action came after the SEC dismissed several pre-existing lawsuits against crypto companies involving Binance, Coinbase, Ripple and Gemini.
The SEC under Chairman Gary Gensler took enforcement action against crypto companies he and the agency believed were facilitating unregistered securities that needed to be listed. After President Donald Trump’s arrival at the Oval Office, Gensler swiftly stepped down and crypto-friendly Atkins was appointed the new SEC Chair.
“Further, 52 of those 56 actions were brought under former Chair Gary Gensler,” said the report.
“Accordingly, only four actions against public companies were initiated under the new SEC administration during 2025 – the fewest in one year since 2013.”
