A key part of Sam’s practice in recent years has been advising clients on synthetic securitisations and similar credit risk transfer products, acting for both issuers and investors. Sam also advises on other credit related products, in particular contingent (fourth trigger) credit default swaps. Sam regularly advises on the enforceability of netting, set-off and collateral arrangements, whether constituted under industry documents or otherwise, and regularly assists with the establishment of such arrangements for capital, compliance and other purposes. Sam has also extensive experience advising on hedging transactions, including deal-continent hedging in respect of both the M&A and project finance related deals. Other work includes advising on various large-scale projects relating to the implementation of compliant variation and initial margin arrangements, and in particular advising industry bodies in respect of regulatory compliant custody documentation.