BRAEDEN ANDERSON
This work began as one lawyer writing carefully about issues he studies and practices.
It now reaches over a million readers, alongside 20,000 newsletter subscribers and 160,000 YouTube followers.
Thank you for being part of this community.
Looking for something specific?
The full Anderson Insights archive is now searchable. Use the search bar to find past content by topic, agency, or keyword. Try searching: “SEC v. Jarkesy,” “ATS regulation,” “custody” or “digital assets”
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.
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.
Massachusetts Investment Advisor Fined for Undisclosed WeChat Communications
In a recent enforcement action, a Massachusetts-based investment advisor has been sanctioned by the Financial Industry Regulatory Authority (FINRA) for conducting business communications through an unapproved messaging platform, in violation of recordkeeping rules. The advisor, formerly associated with a major brokerage firm, was found to have used WeChat, a Chinese social media application, to interact with clients without the firm's approval or proper documentation.
SEC Targets Standalone Investment Adviser in Groundbreaking Off-Channel Communication Enforcement Action
On April 3, 2024, the U.S. Securities and Exchange Commission (SEC) announced a landmark enforcement action against Senvest Management, LLC (Senvest), marking the first such action against a private fund adviser and a standalone investment adviser for failures related to off-channel communication recordkeeping. This case represents a significant development in the SEC’s ongoing enforcement efforts focused on recordkeeping failures in the financial industry.
SEC Crackdown on Texting Violations: Asset Managers and Rating Agencies Brace for Next Round of Fines
The SEC’s relentless pursuit of record-keeping violations has reached new heights, as asset managers and rating agencies find themselves in the crosshairs of the regulator’s expanding probe into the use of personal devices for business communications. The investigation, which began in 2021 with a focus on investment bankers, has already resulted in over $2 billion in civil penalties from Wall Street firms. With recent settlements amounting to nearly $400 million from multiple firms, the SEC shows no signs of slowing down.