Securities Enforcement. Corporate Investigations. Financial Regulation.
Independent analysis of the laws, regulations, investigations, and enforcement actions shaping modern financial markets.
BRAEDEN ANDERSON
Braeden is one of the top securities lawyers in the country and was recognized by Best Lawyers: Ones to Watch® in America in the Financial Services Regulation Law and Securities Regulation categories. This honor is awarded to only the top 2% of attorneys in the United States and is based on a comprehensive peer-review survey.
Braeden helped lead Gesmer Updegrove to recognition in The Legal 500 United States for Corporate Investigations & White Collar Crime, Tier 3, and Finance: Fintech, Tier 4.
Braeden is active in the U.S. securities enforcement community through Securities Docket, where he has served on the 2025 and 2026 Advisory Boards and contributed video commentary through the Weekly Update.
Braeden was named the #1 United States author in FinTech in Mondaq’s Spring 2025 Thought Leadership Awards, reflecting the national reach and influence of his writing on fintech, securities regulation, and digital asset policy.
NAM Advocates for SEC Oversight of Proxy Advisory Firms
On December 3, 2024, the National Association of Manufacturers (NAM) filed a brief with the U.S. Court of Appeals for the D.C. Circuit, urging the court to overturn a lower court decision that challenges the Securities and Exchange Commission’s (SEC) authority to regulate proxy advisory firms. This development marks the latest chapter in NAM’s long-standing campaign to ensure proper oversight of these powerful entities.
JPMorgan Employee Challenges SEC Regulation of Outside Activities
On December 3, 2024, a federal lawsuit filed in the U.S. District Court for the District of Arizona challenges the authority of the Securities and Exchange Commission (SEC) to regulate outside business activities of employees through its oversight of Financial Industry Regulatory Authority (FINRA) rules. The case, Preston v. SEC, No. 2:24-cv-03396, raises significant constitutional and administrative law questions.
Navigating the SEC's FY 2024 Enforcement Landscape: Trends, Takeaways, and What Lies Ahead
The SEC’s Enforcement Division's 2024 annual report reveals a dramatic shift in its enforcement approach during the fiscal year (October 2023–September 2024), with a striking 26% decline in total enforcement actions compared to 2023. This marked a sharp departure from the post-pandemic trend of rising enforcement activity.
FINRA Likely to Amend Expulsion Practices in Wake of D.C. Circuit Ruling
The Financial Industry Regulatory Authority (FINRA), the financial industry’s self-regulator, faces a turning point following a recent ruling by the U.S. Court of Appeals for the D.C. Circuit. In Alpine Securities Corp. v. FINRA, the court held that FINRA’s expedited expulsion proceedings likely exceed its authority without prior oversight from the Securities and Exchange Commission (SEC). This decision has significant implications for FINRA’s enforcement practices and the broader broker-dealer landscape.
D.C. Circuit Issues Long-Awaited Decision in Alpine v. FINRA
On November 22, 2024, the D.C. Circuit issued a landmark decision in Alpine Securities Corporation v. FINRA, a case that examines the constitutional boundaries of the Financial Industry Regulatory Authority’s (FINRA) enforcement powers. The ruling enjoined FINRA from expelling Alpine Securities Corporation without prior SEC review, emphasizing the limitations of expedited enforcement proceedings under the nondelegation doctrine.