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.
SECURITIES LAW IN TIMES OF WAR
Geopolitical conflict creates immediate and complex disclosure obligations for public companies. Under Section 10(b) of the Securities Exchange Act, Rule 10b-5, and Item 303 of Regulation S-K, issuers must evaluate and disclose known trends and uncertainties, including the impact of war, sanctions, supply chain disruption, and cybersecurity risk, where reasonably likely to affect financial condition or results of operations. Recent SEC guidance, including its Ukraine-related comment letters, reinforces that geopolitical events must be analyzed across MD&A, risk factors, financial statements, and disclosure controls.
SEC Opens Broad Review of the Consolidated Audit Trail, Signals Potential Structural Reforms
On April 16, 2026, the Securities and Exchange Commission issued a concept release soliciting public comment on the Consolidated Audit Trail (CAT) and related audit trails and data sources used in the oversight of U.S. securities markets. The release initiates what the Commission describes as a comprehensive review of the CAT’s purpose, structure, cost, and scope, and signals that more fundamental changes to the system may be under consideration.
Code Without a License? The SEC Signals a Path for Crypto Interfaces Outside Broker Registration
The SEC has drawn a new line between software and securities intermediaries. This analysis examines the implications for DeFi interfaces, transaction-based fees, and evolving market structure.
The SEC’s Bail-In Position Prioritizes Function Over Formalism
The SEC’s no-action letter to the Bank of England signals a shift in how U.S. securities law applies to cross-border bank resolution. By allowing reliance on Section 3(a)(9) in bail-in scenarios, the SEC is prioritizing market stability over formal registration requirements. Chairman Paul Atkins’ call for broader rulemaking suggests a potential exemption for securities issued during regulatory bail-ins. This development has significant implications for asset managers, broker-dealers, and institutions with exposure to foreign banks. It reflects a more pragmatic approach to global financial regulation and highlights the tension between investor protection and systemic stability in crisis scenarios.
FinCEN Proposes Sweeping Changes to AML/CFT Compliance Structure
FinCEN’s 2026 AML/CFT proposal reshapes compliance by focusing on risk-based programs, effectiveness, and reduced regulatory burden. Attorney Braeden Anderson provides a detailed legal analysis of what it means for financial institutions.