Richard Levin, chair of Nelson Mullins’s FinTech and Regulation Practice, was recently quoted in an article in FinOps report – “U.S. SEC Loan Reporting: Ops Cost of Transparency." The article discussed the operational and legal challenges of complying with the Securities and Exchange Commission (SEC) and its requirement to report information on securities loan transactions to the Financial Industry Regulatory Authority.

The SEC requests that lenders of securities or their lending agents report the economics and other detailed terms of securities lending transactions to a regulated national securities agency (RNSA) 15 minutes after they are completed. Some argue that such disclosure would indicate to all other market participants that a short position is being established, establishing a market impact that will increase the costs associated with continuing to build a short position over time. "The SEC’s analysis of the costs of implementing its proposal may be challenged as flawed," Levin said. 

An electronic trading and Wall Street veteran, Levin was one of the first lawyers to focus on the regulation of blockchain and digital assets. He is considered a thought leader in the FinTech space. Chambers and Partners has recognized him as one of a select group of attorneys in the FinTech, blockchain, and cryptocurrency space. He is a frequent speaker at conferences on FinTech and regulatory issues and is the co-author of several chapters of books on U.S. regulation of digital assets and blockchain technology.

For the full article,click here.