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BRAEDEN ANDERSON

This work began as one lawyer writing carefully about issues he studies and practices.

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Hi, I’m Braeden.

I'm a partner at Gesmer Updegrove LLP, where I lead the Securities Regulatory and Enforcement and Digital Assets practice areas. I’ve served as Assistant General Counsel at Robinhood, practiced at Kirkland & Ellis and Sidley Austin, and represented clients in high-stakes matters before the SEC, DOJ, FINRA, and state regulators.

I write and make content for people who don’t have time to guess: founders, lawyers, regulators, and smart operators who know better than to rely on Google or the AI answer without context.

I've been recognized by U.S. Best Lawyers: Ones to Watch® for Financial Services and Securities Regulation, and listed in Marquis Who’s Who in America for contributions to law and public service.

Enjoy the content. I hope you find what you’re looking for. And if you want to talk something through, don’t hesitate to reach out. I’d love to hear from you. It’s really cool when readers become clients.

Anderson Insights K. Braeden Anderson Anderson Insights K. Braeden Anderson

SEC Charges BIT Mining with FCPA Violations in Connection with Bribery Scheme to Influence Members of Japanese Parliament

The Securities and Exchange Commission (SEC) has announced a significant enforcement action involving BIT Mining Ltd., formerly known as 500.com Limited, for violations of the Foreign Corrupt Practices Act (FCPA). The company has agreed to pay a $4 million civil penalty to resolve charges stemming from a bribery scheme that took place from 2017 to 2019. The scheme aimed to influence Japanese government officials, including members of Japan’s parliament, in an effort to establish an integrated resort and casino in the country.

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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.

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