Expertise
Carl specialises in international structured finance and derivatives law. He advises on a broad spectrum of developed and emerging market transactions in securitised and OTC formats, including swaps, repos, securities lending, ETDs and other financial products across all major derivatives asset classes.
Carl is expert on a wide range of industry standard documentation including GMRA, GMSLA, ISDA, FIA, prime brokerage and bespoke derivatives arrangements.
In recent years his practice has focussed on the impact of Brexit and post-crisis financial reforms, including innovative solutions to OTC risk mitigation and benchmark reforms, the new resolution regime and regulatory capital netting frameworks.
- Experience
- Acting for a leading wealth manager on its issuance of £40,000,000 Tier 2 regulatory capital subordinated notes
- Acting for various banks and a banking association on the provision of CRR netting opinions, including as lead adviser to a global bank on its netting project involving over 90 jurisdictions
- LIBOR reform projects for various banks and asset managers, as well as advising various borrowers on hedging related LIBOR transition
- Advising a large oil and gas company on M&A deal contingent commodity hedging
- Initial Margin, Prime Brokerage, FX master confirmations and other derivative trading agreements for a wide array of banks, funds, housing associations and other corporates
- Advising an international bank on bail-in and resolution stay issues in connection with its repo and derivatives business
- Publications
- "Location, location, location: the EU's "location policy" for euro-denominated derivatives clearing" (2021) 5 JIBFL 364
- "The Fight for UK clearing rights in Europe is a big democratic opportunity", Financial News (Issue 1232, 22 March 2021)
