Gesmer Updegrove LLP

Regulatory

Partner
Practice Area Leader, Securities Regulation & Financial Services
Practice Area Leader, Securities Enforcement and Investigations

Braeden Anderson is a partner at Gesmer Updegrove LLP and leads the firm’s Securities Regulation & Financial Services and Securities Enforcement and Investigations practice areas. Braeden is a nationally recognized securities regulatory, enforcement, and financial services lawyer whose experience includes prior roles at Sidley Austin LLP, Kirkland & Ellis LLP, and Robinhood Markets, Inc. He advises clients in government investigations, enforcement proceedings, internal investigations, fintech and digital asset regulatory matters, broker-dealer and investment adviser issues, and complex regulatory disputes.

Braeden helped lead the firm to recognition in The Legal 500 United States for Corporate Investigations & White-Collar Crime, Tier 3, and Finance: Fintech, Tier 4 in its 2026 release.

In the 2025 and 2026 editions of Best Lawyers: Ones to Watch® in America, Braeden achieved recognition in Financial Services Regulation Law and Securities Regulation, a peer-review honor awarded to only the top 2% of attorneys in the United States.

Braeden is a nationally visible writer, commentator, and multimedia creator on securities enforcement, fintech regulation, digital assets, market structure, broker-dealer regulation, and investment adviser issues.

In addition to being a frequent contributor and commentator in Bloomberg Law and Law360, Braeden is the founder and principal author of Anderson Insights where he publishes practical analysis on SEC enforcement, FINRA developments, crypto policy, tokenized securities, prediction markets, and emerging financial regulation. The Anderson Insights platform also includes a YouTube channel with more than 170,000 subscribers. In 2025, he was named the #1 United States author in FinTech in Mondaq’s Spring 2025 Thought Leadership Awards.

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 also holds international leadership roles through Chambers USA ranked Mackrell International, where he chairs the network’s Blockchain & Digital Assets Group and Securities Enforcement & Investigations Group which brings together experienced counsel from multiple jurisdictions to deliver coordinated representation in complex regulatory and enforcement matters.

Representative Matters

Represented an SEC-registered investment adviser in parallel SEC and multistate enforcement matters involving suitability, fiduciary duties, portfolio construction, client risk profiling, inverse and leveraged ETFs, and crypto-exposed products. Represented a crypto-focused registered investment adviser in a multi-year SEC investigation concerning advisory practices, disclosures, fees, digital asset strategies, and exchange-traded products, securing a formal notice of no intended enforcement recommendation with no charges, settlement, admissions, or undertakings. Represented an SEC-registered investment adviser in an SEC examination with elevated Enforcement referral risk involving annuity replacements, commission-related conflicts, supervision, books and records, fee practices, and fiduciary documentation. Represented a digital asset investment adviser in parallel state securities investigations involving robo-advisory operations, algorithmic portfolio construction, model governance, disclosures, supervision, and crypto-related recommendations. Served as independent counsel to a special committee of a board of directors in a privileged internal investigation involving allegations of senior executive misconduct, governance issues, fiduciary duties, and reputational risk. Advised a high-growth startup in a corporate governance dispute involving the investigation and negotiated departure of a board member and co-founder accused of misconduct. Served as lead and coordinating counsel in three federal civil actions alleging securities fraud, financial misconduct, and related investment claims involving approximately $30.5 million in controversy. Advised a payments fintech company on money transmission, Money Services Business status, sponsor-bank arrangements, flow-of-funds architecture, FBO and omnibus accounts, BSA/AML, OFAC, transaction monitoring, and examination readiness. Provided regulatory counsel to a digital asset platform launching a tokenized security under Regulation A+, including SEC compliance, state blue sky analysis, investor structuring, and offering-related regulatory considerations. Advised a digital asset securities platform on broker-dealer formation, custody, Special Purpose Broker-Dealer issues, ATS strategy, Rule 15c2-11, DTC eligibility, reporting thresholds, and supervisory obligations. Advised a blockchain foundation on tokenized asset initiatives, secondary trading strategy, broker-dealer and ATS registration exposure, custody, transfer restrictions, disclosures, governance positioning, and enforcement-risk mitigation. Advised a blockchain foundation on implementation of a fiat wallet solution, including MSB classification, state money transmitter issues, safeguarding of funds, BSA/AML, OFAC, data privacy, consumer protection, and regulatory risk allocation. Structured and documented a private placement under Regulation D, Rule 506(c), for an investment vehicle, including accredited investor protocols, subscription documentation, offering materials, and Form D filing. Delivered regulatory opinion and risk analysis concerning broker-dealer registration thresholds for a financial advisory business pursuing capital introductions and investor matchmaking activities. Supported dual-entity RIA structuring and compliance enhancements for affiliated investment advisers seeking to manage separately operated client portfolios. Represented professional athletes and athlete-led business ventures in connection with NIL and athlete rights strategy, investment vehicle formation, governance, and regulatory structuring. Represented victims of digital asset theft and crypto fraud in matters involving self-custody wallet compromise, phishing, social engineering, pig-butchering schemes, blockchain tracing, preservation requests, forensic analytics, and law enforcement coordination. Supported the defense of a public company in an SEC investigation into financial disclosures, including document analysis, identification of key communications, and strategic responses to regulatory requests. Represented a major public company in parallel SEC and DOJ investigations involving allegations of securities fraud, financial reporting issues, and related-party transactions. Conducted an internal embezzlement investigation for a professional sports organization, including a comprehensive audit, factual analysis, and recommendations for corrective measures. Represented a regional bank in a DOJ investigation into lending practices, regulatory compliance, and potential violations of federal law. Represented a major professional sports league in a congressional investigation into business practices, including engagement with legislative committees and preparation of investigative responses. Led the defense of an SEC investigation into municipal securities trading by a global financial institution, focusing on trading practices, supervisory systems, and regulatory compliance. Led an internal investigation into disclosure practices and offshore reinsurance activities for a multinational corporation, including assessment of international regulatory compliance and governance controls. Coordinated responses to a multi-agency regulatory inquiry involving a Wall Street bank’s trading practices and response to market volatility. Represented a large financial institution in an SEC insider trading inquiry, including risk assessment, regulator engagement, and development of a mitigation strategy to resolve the matter favorably. Conducted an internal investigation involving international transactions and governance practices for a multinational corporation facing regulatory scrutiny, while assisting with defense strategy across parallel government inquiries. Assisted a major financial institution with regulatory filings arising from a disqualification event, including analysis of financial disclosures and development of a compliance-focused response strategy. Led a multi-level investigative review in an SEC investigation concerning financial disclosures by a global automotive corporation, with a focus on future liability estimates, accounting judgments, and internal controls. Developed a comprehensive defense strategy in a FINRA investigation involving an investment firm, including witness preparation, document review, regulator engagement, and resolution strategy.

Some matters occurred before Braeden joined Gesmer Updegrove LLP.

English

American Bar Association

National Bar Association

Metropolitan Black Bar Association

New York State Bar Association

D.C. Bar Association

Seton Hall University School of Law, J.D.

California State University at Fresno, B.S.