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.
CFTC Files Actions Against Three States Over Regulation of Prediction Markets
The CFTC did what needed to be done. The tension between federal derivatives law and state gambling regimes around prediction markets has been building for years, with states pushing back through enforcement. This move forces the issue into a federal forum and puts jurisdiction squarely where the Commodity Exchange Act says it belongs. It also reflects the underlying competitive dynamic, as these markets sit directly alongside state-regulated gaming. For participants in the space, this is a meaningful step toward clarity and stability.
Robo-Advisers Under the Advisers Act: A Complete Framework for Building, Registering, and Governing a Digital Investment Adviser
Robo-advisers are not a regulatory shortcut. They are fully regulated investment advisers operating through code. While automation reduces human infrastructure, it embeds fiduciary duties, disclosure obligations, and compliance requirements directly into the platform. For fintech founders and financial institutions, success depends on designing systems that satisfy the Advisers Act at scale.
The $46 Million Crypto Theft Case Against John Daghita Exposes a Government Custody Failure
The DOJ’s indictment of John Dean Daghita for the alleged theft of $46 million in U.S. Marshals Service crypto assets reveals a deeper institutional breakdown: flawed custody design, concentrated authority, and a failure to apply basic financial controls to digital assets.
Why the Definition of “Small Adviser” Deserves a Second Look
The SEC’s definition of a “small investment adviser” hasn’t kept up with reality, and it shows in how rules are written and analyzed. Firms managing $150–300 million in AUM are still treated like large institutions, even though many are lean, founder-led operations navigating real compliance strain. A proposed shift to a $1 billion threshold is a step in the right direction, but without legislative backing, it may not stick. This piece breaks down why the definition matters, how it shapes regulatory outcomes, and what needs to happen next.
The Consolidated Audit Trail Enters a More Disciplined Phase
The SEC’s 2026 CAT amendment reduces costs, limits data retention, and introduces a spending cap. Key implications for broker-dealers and market structure.