Chairman Paul Atkins credited Ryan with "significant progress" toward refocusing enforcement priorities, according to the SEC's announcement. Atkins said the goal was to lead the Division of Enforcement back to Congress' original intent.
The agency said Ryan oversaw a "critical course correction" during her time leading the division. According to the SEC, the shift moved the division away from pursuing technical rule violations that carried no allegations of investor harm.
The SEC said Ryan redirected staff toward what it described as "misconduct that inflicts the greatest harm," including fraud, market manipulation, and abuses of trust. The division also moved away from approaches the agency characterized as "touting volume over impact."
The shift included a renewed focus on holding individual wrongdoers accountable, the agency said, an approach it described as promoting stronger deterrence and better safeguarding investors.
Atkins said Ryan "served with honor and distinction since joining the Commission last year." He thanked her for her contributions and wished her well.
In her own statement released by the SEC, Ryan said she "did not seek the role" of Director but was "grateful" for the opportunity to serve. She thanked Atkins, the Commission, and the staff.
The Commission said it expects to name a permanent Enforcement Division Director "in the coming weeks."