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.
Navigating FINRA’s New Residential Supervisory Location (RSL) Rule
In response to the growing trend of remote work since the COVID-19 pandemic, FINRA has introduced a new rule under its supervision framework, allowing firms to designate private residences as Residential Supervisory Locations (RSLs). This significant development provides firms with an opportunity to adapt their supervisory practices to a more flexible work environment while ensuring compliance with FINRA’s stringent supervision requirements. Effective June 1, 2024, FINRA Rule 3110.19 enables firms to treat certain residential locations as non-branch locations, offering relief from the annual inspection requirements that apply to branch offices and Offices of Supervisory Jurisdiction (OSJs).
SEC Enforcement on Marketing Rule Violations: RIAs to Pay $1.2M in Fines
The SEC continues to flex its regulatory muscle over Registered Investment Advisors (RIAs) in its latest enforcement action targeting violations of the 2021 marketing rule. Nine RIAs have agreed to pay more than $1.2 million in collective fines for misleading advertising practices. The firms include prominent names like Integrated Advisors Network, Richard Bernstein Advisors, and Abacus Planning Group, each paying six-figure fines to settle charges brought by the commission.
Key Drivers Behind State Securities Enforcement Actions
State regulators play a pivotal role in maintaining the integrity of the securities industry, particularly when it comes to protecting retail investors. While federal agencies like the SEC often garner more attention, state securities regulators serve as critical front-line enforcers of compliance and ethical standards within their jurisdictions. Through targeted enforcement actions and oversight, state regulators address misconduct that can often slip through the cracks at the national level, ensuring that investment advisors and firms adhere to both state and federal regulations.
Massachusetts Investment Advisor Fined for Undisclosed WeChat Communications
In a recent enforcement action, a Massachusetts-based investment advisor has been sanctioned by the Financial Industry Regulatory Authority (FINRA) for conducting business communications through an unapproved messaging platform, in violation of recordkeeping rules. The advisor, formerly associated with a major brokerage firm, was found to have used WeChat, a Chinese social media application, to interact with clients without the firm's approval or proper documentation.
Opinion: U.S. Congress Must Establish a Clear Regulatory Framework for Crypto Assets to Maintain Western Leadership in Financial Innovation
By now, we all know that cryptographic blockchain has the potential to revolutionize the transfer of value over the internet—quickly, inexpensively, and without intermediaries. With mass-adoption, a blockchain-powered immutable public ledger of transactions could reshape financial systems globally. Yet, like any transformative technology, its long-term success hinges on legal and regulatory clarity. It is time for Congress to establish a comprehensive, sensible framework for regulating crypto assets.