Michael Sackheim is a partner in Sidley's New York office, where he focuses on futures and derivatives regulatory, transactional and enforcement matters. In the enforcement area, Michael was appointed by a federal court as the receiver in one of the largest foreign currency fraud cases ever brought by the government. He has recently represented a Dubai trading entity in a federal court injunctive action brought by the U.S. Commodity Futures Trading Commission (CFTC) and in a civil forfeiture action brought by the Department of Justice. Michael also recently represented a publicly-traded energy company in a CFTC administrative enforcement action. In the past year, Michael has represented a leading international financial organization in a CFTC investigation involving allegations of the attempted manipulation and false reporting of agricultural product transactions, and a large foreign exchange dealer in an investigation conducted by the National Futures Association.

Michael helped develop and obtained regulatory relief permitting the first public commodity pool traded on a securities exchange to be exempt from customary commodity pool prospectus delivery and position limits requirements. He also has obtained relief for a non-U.S. futures exchange permitting various of its stock index futures products to be traded in the U.S. Michael has represented several non-U.S. exchanges in petitioning the CFTC to permit their members to act as futures brokers for U.S. investors without being required to be registered with the CFTC. On a regular basis, he negotiates derivatives trading documents, including swap, repurchase, prime brokerage and futures agreements for hedge funds, mutual funds and other market participants.

Michael is the former Chair of the American Bar Association's International Securities Transactions Committee, as well as the former Chair of the New York City Bar's Futures & Derivatives Regulation Committee. Michael has been an Adjunct Professor at New York Law School where he taught a seminar on Derivatives Markets Regulation. He is the Managing Editor of Futures & Derivatives Law Report (published by Thomson/West LegalWorks). Michael is the author of numerous scholarly articles in the areas of derivatives and legal ethics. He is a frequent speaker on these subjects before various groups, including the New York City Bar, American Bar Association, Practising Law Institute, Futures Industry Association and in-house legal departments of investment banks. Michael has been recognized since 2012 in The Best Lawyers in America in Derivatives and Futures Law and received the 2008 Thurgood Marshall Award from the City Bar of New York. Michael is also recognized in Chambers USA 2013 and 2012 in Capital Markets: Derivatives.