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.
Palo Alto Networks Insider Trading Case: Ninth Circuit Orders Resentencing
The Ninth Circuit has upheld securities fraud convictions against Sivannarayana Barama, a former Palo Alto Networks engineer who profited $7 million through insider trading. However, the court remanded the case for resentencing, ruling that the district court improperly used Barama’s trading gains as a proxy for the company’s loss without determining an actual loss.
Under the Radar: SEC Penalizes Adviser for Weak MNPI Controls in CLO Trades
Managing MNPI risk is no longer just about avoiding direct trades on inside information; it’s about creating robust, tailored safeguards that address the way MNPI can impact related investments, particularly in intricate vehicles like CLOs. With the SEC placing renewed focus on MNPI in credit markets, now is the time to ensure your compliance protocols are more than just routine. This article unpacks the SEC’s action against Sound Point and provides essential takeaways for investment advisers on avoiding similar pitfalls.
SEC Charges North Carolina Resident with Insider Trading in Biopharmaceutical Company
In a recent enforcement action, the Securities and Exchange Commission (SEC) charged Matthew Groom, a North Carolina resident, with insider trading involving the Massachusetts-based biopharmaceutical company, Spero Therapeutics, Inc. According to the SEC’s complaint, Groom used confidential information obtained during his role as an IT consultant for Spero to avoid substantial financial losses ahead of a significant corporate announcement.
Pharmaceutical Executive Pleads Guilty to Insider Trading Charges
A former executive of a global pharmaceutical company pleaded guilty today in a Boston federal court to insider trading, admitting to earning more than $250,000 through unlawful trading activities based on confidential information.
Recent SEC Enforcement Action Highlights the Importance of Robust MNPI Policies in CLO Trading
In a significant enforcement action, the U.S. Securities and Exchange Commission (SEC) has sanctioned a private fund manager for failing to implement adequate policies and procedures to prevent the misuse of material nonpublic information (MNPI) while trading securities issued by collateralized loan obligation vehicles (CLOs). This case underscores the SEC’s focus on credit managers and emphasizes the importance of strong compliance frameworks for preventing MNPI violations in CLO trading.