Important Announcement
We are pleased to share that as of August 1, 2025, Braeden Anderson, the founder of Anderson P.C., has joined Gesmer Updegrove LLP as a Partner. Work currently performed by Anderson P.C. will be transitioning to Gesmer. This website will remain active as a curated archive for legal insights.
Gesmer Updegrove LLP, founded in 1986, is a nationally recognized law firm with a premier reputation for representing high-growth companies, innovative technology pioneers, and venture-backed startups. Together, we are enhancing our ability to provide comprehensive, end-to-end legal support to entrepreneurs, founders, investors, and scaling businesses across every stage of the corporate lifecycle. From formation, fundraising, and IP strategy to tax planning, M&A, securities compliance, enforcement defense, and strategic exits, our combined strengths now span the full spectrum of business law.
Thank you for following and supporting us on this journey. To learn more or to connect with Braeden or a member of the Gesmer team, please visit: www.gesmer.com or e-mail him at braeden.anderson@gesmer.com
From Likes to Lawsuits: FINRA Flags Compliance Pitfalls in Influencer Marketing and Crypto Promotions
With social media influencers dominating the advertising space and crypto assets all the rage, it's no surprise that financial firms are exploring new ways to reach clients and promote products. However, the recent insights from FINRA’s Advertising Regulatory Conference highlight a cautionary tale for firms rushing to leverage these trendy marketing tactics: proceed with caution, and bring your compliance team along for the ride.
Update: The Supreme Court’s Decision in SEC v. Jarkesy and Its Broader Impact on SEC Enforcement
The Jarkesy ruling has considerable consequences for the SEC’s enforcement program. For years, the SEC has utilized its administrative forum to pursue civil penalties for securities fraud, with the flexibility to adjudicate matters in-house. However, the Supreme Court's decision effectively eliminates this option for cases seeking civil penalties. As a result, the SEC will likely need to shift more cases to federal court, where defendants are entitled to a jury trial. This shift could increase the complexity, time, and costs associated with SEC enforcement actions.
SEC Charges Abra with Unregistered Offers and Sales of Crypto Asset Securities
The SEC's recent enforcement action against Plutus Lending LLC, doing business as Abra, underscores the agency's unwavering commitment to ensuring that crypto asset offerings and sales comply with federal securities laws. The charges filed today highlight significant regulatory issues surrounding the unregistered offers and sales of crypto asset securities, specifically through Abra's retail crypto asset lending product, Abra Earn.
National Futures Association (NFA) Implements New Member Reporting Requirements
The National Futures Association (NFA) has introduced significant updates through Compliance Rule 2-52 and a corresponding Interpretive Notice. These new provisions, effective October 15, 2024, establish expanded reporting requirements applicable to all NFA Members, including those registered as commodity pool operators (CPOs) and commodity trading advisors (CTAs).
Top 10 Securities Enforcement Developments of Summer 2024
In this review, we highlight the top 10 securities enforcement developments of summer 2024, offering insights into the latest trends, landmark cases, and strategic shifts that are likely to influence compliance strategies and corporate governance moving forward. Whether you're navigating these issues in-house or advising clients, understanding these developments is essential for staying aligned with the evolving standards of securities law.