Joshua B. Sterling
Josh Sterling’s practice focuses on representing U.S. and non-U.S. asset managers, private investment funds, and registered investment companies. He helps clients evaluate how the federal securities and commodity futures trading laws affect their investment management activities, and, as needed, he assists them in obtaining exemptive relief and other guidance from the SEC, the CFTC and the National Futures Association. In particular, Josh advises a variety of asset managers located in Asia and Europe on the legal and regulatory implications of offering their products and services in the United States.
Currently, Josh is helping several firms assess how their investments activities may implicate requirements to register as commodity pool operators and commodity trading advisers with the CFTC, and whether those clients may avail themselves of exemptions from registration. He is also assisting a major Indian banking organization explore various means of attracting investments from the United States. In addition, he is advising asset managers, commercial lenders, and other financial institutions on Volcker Rule matters under Dodd-Frank.
Josh recently represented a bank-sponsored mutual fund complex and its independent directors in multiple reorganization and liquidation transactions, following the bank’s strategic decision to discontinue its captive mutual fund business. Josh also helped counsel a committee of independent directors during its review of several fund reorganizations that were prompted by a management buyout. In addition, he is assisting a “turn-key” multiple series trust launch new funds run by advisers who offer specialized investment programs, including managed futures, tactical allocation, and international strategies. Josh regularly advises fund managers on compliance, registration, and operational matters.
During the recent financial crisis, Josh took a leading role in helping several money market fund clients participate in the Treasury Department’s Temporary Guarantee Program. He also worked with a number of other Bingham lawyers to help money market funds obtain no-action relief that enabled those funds to receive financial support from their sponsors. In addition, Josh helped advise a board committee during its review of a shareholder demand regarding several funds’ investment of securities lending collateral in notes issued by structured investment vehicles.
- New Compliance Obligations Facing Swap Dealers, Introducing Brokers and Futures Commission Merchants, Bingham Seminar, New York (2013)
- Key Compliance Issues for Registered Commodity Pool Operators and Commodity Trading Advisors, Bingham Seminar, New York (2013)
- Morgan Stanley Latin America Investment Conference, Rio de Janeiro (2013)
- New Opportunities and Challenges for Emerging Fund Managers, Boston (2013)
- Year-end Review of Compliance/Legal Matters, Bingham Seminar, New York (2012)
- CFTC Registration, IA Watch Webinar (2012)
- Navigating Possible CFTC Registration and the Treatment of Swaps, Bingham Seminar, New York (2012)
- Viteos Singapore Roundtable on Commodity Futures Regulation of Asset Managers (2012)
- Citi Prime Finance Hong Kong Roundtable on CFTC Regulatory Developments (2012)
- Compliance Asia CFTC Update Program (2012)
- Key CFTC Developments for Private Fund Managers, Bingham Seminar, Boston (2012)
- Key CFTC and AIFM Developments for Asian Fund Managers, Bingham Seminar, Hong Kong (2012)
- A Briefing on the Volcker Rule — Where Are We and What Are the Implications for Non-U.S. Asset Managers, HKIFA-Bingham Webinar (2012)
- CFTC Registration & Reporting Amendments, Citi-Bingham Webinar (2012)
- CFTC Teleconference (2012)
- CFTC Registration & Reporting Amendments, Citi Prime Finance & Futures Online Seminar (2012)
- Today’s Regulatory and Enforcement Environment — Practical Considerations for Your Organization, ICI Legal Forum, Washington, D.C. (2011)
Co-author, “CFTC Adopts Final Rules for Trading Swaps on Organized Facilities,” Bingham.com (May 2013)
Co-author, “Compliance With Dodd-Frank Swaps Provisions: Update on Key Deadlines Under ISDA Dodd-Frank Protocols,” Bingham.com (May 2013)
Co-author, “CFTC Issues Further Time-Limited No-Action Relief for Certain Swap Reporting Requirements of Parties That Are Not Swap Dealers or Major Swap Participants,” Bingham.com (April 2013)
Co-author, “CFTC Issues Further Time-Limited No-Action Relief for Securitization Vehicles Subject to Commodity Pool Regulations,” Bingham.com (April 2013)
Co-author, “Recent CFTC Amendments to CPO/CTA Registration and Reporting Requirements,” VC Experts (Feb. 24, 2012)
Co-author, “CFTC Issues Broader Interpretive Exclusion From Commodity Pool Regulation for Securitizations, and No-Action Advice “Grandfathering” Some Securitizations and Extending Temporary Registration Relief Until March 31, 2013,” Bingham.com (December 2012)
Co-author, “Dissent in Mutual Fund Advisory Fee Case Makes U.S. Supreme Court Review More Likely,” ABA Securities Litigation Journal, Vol. 19, No. 1 (Aug. 21, 2008)
Co-author, “Seventh Circuit ‘Disapproves’ Gartenberg, But Is This New Approach Fundamentally Different?,” Journal of Investment Compliance, Vol. 9, No. 3 (May 27, 2008)
Co-author, “The SEC Proposes a Plain English Brochure for Advisory Clients,” Insights, Vol. 22, No. 3 (March 2008)
- American Bar Association, Business Law Section
- District of Columbia Bar, Corporation, Finance and Securities Law Section