BRAEDEN ANDERSON

Welcome to Anderson Insights.

We provide authoritative analysis on securities and commodities regulation, SEC and FINRA enforcement, and legal developments affecting crypto, digital assets, fintech, and financial services, authored by Braeden Anderson.

Please enjoy our legal writings. If you want to talk anything through, send Braeden an email.

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The full Anderson Insights archive is now searchable. Use the search bar to find past content by topic, agency, or keyword. Try searching: “SEC v. Jarkesy,” “ATS regulation,” “custody” or “digital assets”

K. Braeden Anderson 3/19/25 K. Braeden Anderson 3/19/25

Acting SEC Chair Reshapes the Agency Ahead of Trump’s Pick

The Securities and Exchange Commission (SEC) is undergoing a profound transformation as its acting leadership reshapes the agency ahead of the confirmation of President Trump’s nominee, Paul Atkins. These sweeping changes include staffing reductions, leadership shake-ups, and a recalibration of enforcement priorities, raising questions about the future of securities regulation in the United States.

K. Braeden Anderson 3/19/25 K. Braeden Anderson 3/19/25

SEC Accuses Cannabis CFO of $4.2M Round-Trip Accounting Scheme: Industry Lessons

The U.S. Securities and Exchange Commission (SEC) has filed charges against the former CFO of Acreage Holdings, Glen Leibowitz, alleging his involvement in a $4.2 million round-trip transaction designed to manipulate the company’s year-end cash balance. This case underscores the increasing regulatory scrutiny cannabis companies face, particularly as they grapple with complex financial reporting obligations, banking restrictions, and compliance challenges.

K. Braeden Anderson 3/19/25 K. Braeden Anderson 3/19/25

SEC Backs Down on Ripple

In a major development for the cryptocurrency industry, the U.S. Securities and Exchange Commission (SEC) has ended its appeal against Ripple Labs regarding the legal status of the XRP token. This decision marks a significant shift in regulatory posture, reflecting broader changes in crypto oversight under the new administration.

K. Braeden Anderson 3/19/25 K. Braeden Anderson 3/19/25

CFTC Pulls Back on SEF Registration Advisory: A Win for Market Clarity

The Commodity Futures Trading Commission (CFTC) just hit the reset button. On March 13, 2025, the Division of Market Oversight (DMO) issued CFTC Letter No. 25-05, officially scrapping the controversial 2021 Advisory on Swap Execution Facility (SEF) Registration (CFTC Letter No. 21-19). Effective immediately, this move restores the pre-2021 regulatory framework, providing much-needed clarity for commodity trading advisors (CTAs), introducing brokers (IBs), and other market players facilitating swap execution.

K. Braeden Anderson 2/18/25 K. Braeden Anderson 2/18/25

FINRA’s Probe Raises Constitutional Questions Amid Growing Scrutiny of Regulatory Power

A new lawsuit against the Financial Industry Regulatory Authority (FINRA) highlights growing tensions between regulatory enforcement and constitutional protections. On February 15, Francis G. Smith of FGS Financial Inc. filed a complaint in the U.S. District Court for the District of Columbia, alleging that FINRA violated his due process rights. The lawsuit claims that during a probe into his continuing education compliance, FINRA demanded sworn testimony and warned Smith he could face expulsion from the securities industry if he asserted his Fifth Amendment right against self-incrimination.

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Braeden Anderson

K. Braeden Anderson serves as a Partner at Gesmer Updegrove LLP, where he leads the firm’s Blockchain & Digital Assets and Securities Enforcement & Investigations practices. He also chairs Mackrell International’s Blockchain & Digital Assets Group and its Securities Enforcement & Investigations Group.

Named to Best Lawyers: Ones to Watch® in America (2025) for Financial Services Regulation Law and Securities Regulation, Mr. Anderson has built a national reputation as a securities regulatory and enforcement attorney operating at the intersection of traditional finance and emerging technologies. His practice focuses on advising financial institutions, fintech companies, investment advisers (including robo-advisors), broker-dealers, trading platforms, and digital asset companies in complex regulatory, enforcement, and compliance matters before the SEC, CFTC, FINRA, DOJ, and state regulators.

Within the digital asset and blockchain space, Mr. Anderson regularly counsels clients on issues involving market structure, tokenization, robo-advisor and broker-dealer registration, custody frameworks, AML and KYC obligations, and secondary trading considerations for regulated assets. His work spans both established financial institutions and early-stage ventures, helping clients operate within rapidly evolving regulatory environments with precision and strategic clarity.

Mr. Anderson also represents professional athletes and sports organizations in connection with regulatory and investigative matters requiring careful handling and discretion.

Prior to joining Gesmer, Mr. Anderson founded a Washington, D.C.-based law firm. He previously served as Assistant General Counsel at Robinhood Markets, Inc. (HOOD), where he advised on significant regulatory and enforcement matters. Earlier in his career, he practiced at Kirkland & Ellis LLP and Sidley Austin LLP in New York and Washington, D.C., representing clients in matters involving major federal enforcement authorities and providing regulatory advice on complex financial matters.

Mr. Anderson is an active contributor to the national conversation on securities and digital asset regulation. He publishes a widely followed weekly newsletter that has reached millions of legal and financial professionals and produces video content on YouTube for an audience of over 160,000 subscribers. He is also the editor of this legal publication, Anderson Insights, where he provides in-depth analysis for regulators, in-house counsel, and compliance professionals.

Mr. Anderson is also the creator of The Long Game with Braeden Anderson, a new digital series on YouTube exploring the intersection of golf, discipline, and high-performance thinking, featuring match-play conversations with legal executives and business leaders.

He was recently recognized as the most-read fintech thought leader in the United States in Mondaq’s Spring 2025 Thought Leadership Awards.