Deborah North’s practice focuses on a broad range of derivatives and structured finance transactions, with a focus on OTC derivatives and structured synthetic products as well as the cross-border security arrangements, and the regulatory issues that they often entail.
She has advised on a range of products including credit-linked notes, structured repos, and contingent credit default swaps transactions. She also advises on insurance-linked products and commodity derivatives including in the context of renewable energy. Given her transactional and regulatory derivatives experience she has been called upon by several clients in the legal/tech and fintech space to create documentation frameworks and multi-jurisdictional regulatory analysis for their start-up offerings. Most recently she advised a global custodian on offering custodial services for crypto.
Deborah is considered a leader in the clearing of OTC derivatives. Her work in this area includes advising on the standard documentation for the clearing of OTC derivatives, advising on the rulebooks for more than 20 existing and prospective clearing houses, and engaging with the CFTC, the Federal Reserve Board, and the SEC on clearing related matters. Her clients include financial institutions, industry associations, and clearing houses. Notably Deborah advised ISDA and market participants on several clearing-related U.S. law opinions that address some of the significant bankruptcy and capital related issues in this space.
Deborah has developed an extensive derivatives regulatory practice. She has advised numerous financial institutions on their registration as swap dealers and security-based swap dealers, including on all aspects of compliance materials, documentation, and interaction with the SEC, CFTC, NFA, and, where applicable, their European home regulators. She regularly advises buy side, sell side, and market infrastructure clients and industry associations such as FIA, SIFMA AMG, ISDA, and MFA and on the most pertinent issues for the industry, most recently in the context of uncleared margin, the voluntary carbon markets, sustainability-linked derivatives, and the transition away from the IBORs. Deborah participated in the CFTC’s Interest Rate Benchmark Reform Subcommittee as a special governmental employee and advised the ARRC on regulatory issues associated with the transition.
Deborah joined the firm as a partner in 2022.
Board Member, Women in Derivatives
Board Member, Internationals Network
March 7, 2023
February 8, 2023
February 3, 2023
ABA Derivatives and Futures Law Committee Winter Meeting 2023