Cheryl Isaac Photo

Cheryl L. Isaac

Senior Counsel


Cheryl represents financial institutions, energy companies, and commodity trading firms (including both end-users and swap dealers) on a variety of derivatives transactions, and drafts documentation for interest rate swaps, foreign exchange, commodities, and other derivatives product lines.

She assists clients on compliance with Title VII of the Dodd-Frank Act and all related regulations and interpretive guidance issued by the Federal Reserve, Commodity Futures Trading Commission (CFTC), Federal Deposit Insurance Corporation, Office of the Comptroller of the Currency, and others.

Cheryl is also an active member of the firm’s Blockchain, Digital Currencies & Smart Contracts industry group, in which she advises clients on the evolving laws and regulations that apply to cryptocurrencies and digital tokens.  She works with both start-up and established companies to ensure that they understand and are in compliance with CFTC regulations, the Bank Secrecy Act, FinCEN’s money transmitter registration requirements, and various state licensing requirements.  She regularly counsels clients in the areas of derivatives, banking and commodities trading on the potential impact of blockchain/distributed ledger technology and how businesses may benefit from this disruptive new technology.

Prior to joining Michael Best, Cheryl practiced law in the Derivatives group of a global law firm in Washington, D.C. She began her legal career in the Structured Finance practice group of a global law firm based in New York City. Cheryl also previously served as a legal intern for Investment Advisor Association and as a law clerk for Senator Charles E. Schumer, in his Senate Judiciary Committee office.

Professional Activities

  • Member, District of Columbia Bar Association, Corporation, Finance and Securities Law Section
  • Board Member, Women’s Bar Association Foundation of the District of Columbia
  • Member, American Bar Association, Section on Business Law and Derivatives and Futures Law Committee
  • Member, International Swaps and Derivatives Association, Inc.



Community Involvement

  • Board and Executive Committee Member, Anti-Defamation League
  • Associate Trustee, Washington Lawyers Committee for Civil Rights and Urban Affairs
  • Member, D.C. Bar Association Foundation Young Lawyers Network Leadership Council
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