In the SEC’s Division of Enforcement, a Deputy Director is a top manager who reports to the Division’s Director and oversees major parts of the enforcement program. In the current structure, deputy directors are assigned either to geographic regions or to specialized units. They supervise and coordinate enforcement investigations and lawsuits in the SEC’s regional offices under their remit, help set and implement enforcement strategies, and ensure those offices carry out the Division’s investor‑protection mission. For example, Paul Tzur was appointed “Deputy Director overseeing the agency’s enforcement program in the Chicago, Atlanta, and Miami Regional Offices,” and David Morrell was appointed to the same role for the New York, Boston, and Philadelphia offices, reflecting this oversight and coordination function.[1][2][3]
Before joining the SEC, Paul H. Tzur worked primarily as a white‑collar defense and complex commercial litigation lawyer in private practice and, earlier, as a federal prosecutor:
Private‑practice bios (e.g., at Blank Rome LLP) confirm this background as a former federal prosecutor who later specialized in high‑stakes white‑collar and commercial matters.[2]
Before joining the SEC, David M. Morrell was a litigator in private practice and held several senior roles in the U.S. Department of Justice and the White House:
His law‑firm biography at Jones Day and professional profiles (e.g., Federalist Society) corroborate these DOJ and White House roles and his focus on high‑stakes civil litigation and government‑related disputes.[2][3]
These are standard (non‑acting) deputy director appointments. The announcement states that Paul H. Tzur and David M. Morrell “have been named as Deputy Directors of the Division of Enforcement,” and then specifies that:
The release does not describe either role as “acting” or “interim,” so their appointments take effect on those start dates as regular Deputy Directors within the Division’s leadership structure.[1]
Historically the SEC’s Division of Enforcement had a single Deputy Director, but a 2025 reorganization replaced that with multiple Deputy Directors, each with a defined portfolio. According to industry analysis of that reorganization, the Division now has:
for a typical total of four Deputy Directors. The SEC’s own staff directory reflects this multi‑deputy structure, listing roles such as “Deputy Director, Enforcement (West)” and “Deputy Director, Enforcement (Specialized Units).”[1]
All Deputy Directors report to the Director of the Division of Enforcement (since September 2, 2025, Judge Margaret “Meg” Ryan).[3] The Director in turn reports to the SEC Chair and the Commission.
Public information about these appointments does not indicate any immediate change in the SEC’s formal enforcement priorities or in specific ongoing investigations.
The announcement frames Paul H. Tzur and David M. Morrell’s roles as strengthening leadership over existing regional enforcement programs and “enforcement investigations and litigations” in several key offices in support of the SEC’s investor‑protection mission.[1] It emphasizes their experience and commitment to “protecting investors and the markets” and to “protecting the integrity of our financial markets through proper enforcement of U.S. securities laws,” but does not announce new thematic priorities or changes to active cases.[1]
In general, enforcement priorities are set by the Commission and the Division’s Director; deputy directors help implement and manage those priorities across the regions. While new leaders can influence how resources are allocated or how aggressively matters are pursued, there is no public evidence that these particular appointments, by themselves, alter existing investigations or formal policy priorities.[1][2]
The full text of the SEC’s announcement and leadership statements can be read at:
Either link provides the full press release and leadership statements announcing their appointments.