Cheryl Aaron Photo

Cheryl I. Aaron

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, Federal Deposit Insurance Corporation, Office of the Comptroller of the Currency, and others.

Cheryl has extensive experience advising clients on a range of derivatives and banking-related regulatory issues such as cross-border trading, federal deposit insurance, capital and margin requirements, and swap dealer registration. She also assists clients in creating advocacy strategies and responding to federal regulators’ proposed rulemakings in these areas of law. 

She counsels clients in blockchain/distributed ledger technology, including the potential impact on business operations and the possible regulatory implications for the commodities, banking, and derivatives industries.

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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