Dan has been advising leading financial institutions, supranational organisations, governments, NGOs, multinationals and asset management firms operating in the secondary securities and derivatives markets for over 25 years. He has been admitted to practise in the world’s key financial capitals: New York (non-practising), England and the Cayman Islands (non-practising). He is counsel to many of the world’s systemically important financial institutions, advising on their high-value trades with idiosyncratic risk. He also leads our ESG, Boycotts and Sanctions Desk, advising on the application, opportunities and risks attached to exclusions, divestments and sanctions, offering a real-world market perspective. He is also the author of leading peer reviewed academic articles including “A Pox on the Pax ESG”, discussing the unforeseen risks attached to ESG policies, in Butterworths Journal of International Banking and Financial Law (2021) and has received extensive quotations in the Financial Times and City A.M. on ESG matters.
Recent engagements Include:
- A series of structured rolling collars and put/calls for a UK local authority pension scheme to lock in equity price risk on a bespoke index, with a notional ˃ USD 1 billion.
- A series of sovereign and corporate loan total return swaps in a broad range of Asian and South American emerging markets, with a combined notional ˃ USD 1 billion
- Advice on regulatory capital swaps on a notional ˃ USD 1 billion.
- Tail risk, ESG, financing and trading aspects of deliverable cash and carry arbitrage on EU carbon dioxide allowances (EUAs) on a notional ˃ USD 1 billion
- Advice to hedge fund activist strategy on novel solution to managing rehypothecation risk on activist, ESG and stewardship positions
- Advice on regulatory, governance and legal issues resulting from non-financial boycott, sanctions and divestment decisions, particularly on “S” grounds
- Legal and regulatory analysis of a wide range of digital assets, including utility/access, work, security, and exchange tokens; PoS / PoW aspects; DeFi, NFT and Layer 1; staking and embedded optionality.