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.
Regulatory Update and Recent SEC Actions – October 2024
October 2024 has seen the Securities and Exchange Commission (SEC) continue its aggressive enforcement actions and regulatory updates, targeting a wide range of issues from improper record-keeping to non-compliance with new marketing rules. This month also saw key personnel changes within the SEC, the disbandment of the Climate and ESG Task Force, and the adoption of rules affecting venture capital funds and registered investment companies. Below are the highlights of recent SEC actions and regulatory developments.
SEC Commissioner Mark Uyeda Criticizes Agency’s Crypto Policy as a “Disaster”
In a striking rebuke of the U.S. Securities and Exchange Commission’s (SEC) approach to cryptoc regulation, SEC Commissioner Mark Uyeda publicly criticized the agency's handling of the industry, calling it a "disaster" during a Fox Business panel on October 10. Uyeda's remarks reflect growing internal dissent over how the SEC, under the leadership of Chair Gary Gensler, has enforced crypto policy without providing the much-needed clarity the sector requires.
Is the SEC Finished with NPAs and DPAs in FCPA Cases?
In 2010, the SEC introduced Deferred Prosecution Agreements (DPAs) and Non-Prosecution Agreements (NPAs) as part of a strategy to strengthen its enforcement efforts by encouraging cooperation from companies and individuals. However, since then, the SEC has rarely used these tools, employing DPAs only twice and NPAs three times, mostly in FCPA enforcement actions. The last use of either agreement was in 2016 in cases involving Nortek and Akamai Technologies. Since then, the SEC has not returned to NPAs or DPAs, raising questions about whether the agency has moved away from these agreements for resolving FCPA cases.
SEC Charges “Magic Mushroom” Company and Two Individuals in $8 Million Pump-and-Dump
The Securities and Exchange Commission (SEC) has filed charges against Minerco Inc. (former over-the-counter ticker: MINE) and two individuals—Bobby Shumake Japhia and Julius Makiri Jenge—in connection with an alleged multimillion-dollar pump-and-dump scheme that defrauded investors out of approximately $8 million. The SEC's complaint alleges that the defendants generated millions of dollars in illicit profits by manipulating the market for Minerco’s stock through deceptive tactics and false promotions.
SEC Chair Gary Gensler on Crypto: ‘It’s Unlikely This Stuff Is Gonna Be a Currency’
In a recent speech at New York University School of Law, U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler made headlines with his assertion that cryptocurrencies like Bitcoin (BTC) are unlikely to ever become widely accepted forms of currency. While this statement may have grabbed attention, it largely reiterates what many industry participants already understand: the primary value of crypto assets lies in their utility as a store of value or an investment vehicle, not as a replacement for fiat currencies. Gensler’s comments, while perhaps technically accurate, miss the mark in addressing the real issues facing the crypto industry today.