Michael M. Philipp counsels financial services clients in futures and securities transactions. He also advises them in derivatives regulation, legislation, compliance, and enforcement matters. United States and foreign exchanges and clearing organizations, banks, investment managers, proprietary trading firms, brokerage firms, and end users turn to Michael for guidance in connection with exchange-traded and over-the-counter derivative instruments. He also represents foreign exchanges and clearinghouses in their US offerings of futures and equity options products and derivatives clearing activities.
Michael has experience working with clients on issues related to the Dodd–Frank Wall Street Reform and Consumer Protection Act, as well as US Commodity Futures Trading Commission (CFTC) registration and compliance-related issues. These issues include trade practices, swap reporting and clearing, registration of swap execution facilities (SEFs), futures exchanges, clearing organizations, and swap data repositories (SDRs); retail and eligible contract participant forex (ECP FX) transactions; and futures commission merchant (FCM), swap dealer, commodity pool operator (CPO) and commodity trading advisor (CTA) registrations and compliance. Michael has experience in conducting internal compliance investigations, as well as representing clients in exchange and CFTC inquiries and proceedings, including matters involving allegations relating to disruptive trading practices, such as spoofing and market manipulation. He also provides assistance to firms that are negotiating bilateral and cleared swap documentation.
Before joining Morgan Lewis, Michael worked as an in-house attorney for the Chicago Mercantile Exchange (CME). There he served as counsel to the CME’s regulatory trade practice, compliance, and arbitration committees.
DePaul University College of Law, 1992, J.D.
University of Chicago, 1981, B.A., With Honors
U.S. District Court for the Northern District of Illinois
Awards and Affiliations
Highly Regarded, IFLR1000 United States (2019)
Highly Regarded, IFLR1000 Financial and Corporate (2019, 2020)
Member, Practice Group of the Year, Asset Management, Law360 (2017)
Recommended, Media, technology and telecoms: Fintech, The Legal 500 US (2020)
Recommended, Finance: Structured finance: derivatives and structured products, The Legal 500 US (2019, 2020)
Recommended, Finance: Structured finance, The Legal 500 US (2014–2017)
Lawyer of the Year, Derivatives and Futures Law, The Best Lawyers in America (2017, 2018, 2021)
Recognized, Derivatives and Futures Law, Chicago, The Best Lawyers in America (2007–2012, 2017–2021)
Member, Federal Reserve Bank of Chicago's Working Group on Financial Markets
Board Member, The Ark
Former Member, Chicago Mercantile Exchange and Chicago Board of Trade Business Conduct and Probable Cause Committees
Program Chair, American Bar Association, Futures and Derivatives Law Committee Winter Meeting (2005)
Former Chair, Chicago Bar Association, Futures and Derivatives Law Committee
Former Member, Executive Committee of the Futures Industry Association Law and Compliance Division