Joshua Sterling

Josh Sterling is a partner in the Washington, DC office of Milbank and a member of the firm’s Litigation & Arbitration Group.

Josh is a leading practitioner in commodities and derivatives law. He represents financial markets and intermediaries in precedent-setting litigation, high stakes investigations, and strategic regulatory and transactional matters relating to their offering of novel financial products and other regulated business activities. He is currently leading Milbank’s nationwide litigation efforts concerning the legality of event contracts and prediction markets, as well as assisting several other early-stage and established companies with developing new financial products like perpetual futures and security futures.

In addition to his strategic advisory role in financial market litigation, transactions and regulatory matters, Josh also specializes in representing companies and individuals in investigations and other proceedings before the Commodity Futures Trading Commission (CFTC), the SEC, self-regulatory organizations, and state governments.

Josh helps financial services and corporate clients obtain bespoke regulatory relief or new licenses to assist with the growth of their businesses, whether in on-chain product offerings, new products like perpetual futures, or more traditional commodities and financial activities. Clients also rely on Josh to advocate for them with the CFTC, the SEC, and other regulatory bodies on critical issues affecting their businesses.

Josh's client advice is informed by his tenure in leadership at the CFTC, the primary US regulator of the derivatives markets. At the CFTC, Josh played an instrumental role in completing the remaining rulemakings required by the Dodd-Frank Act, as well as in charging and settling several groundbreaking enforcement actions. As Director of the CFTC's Market Participants Division, Josh oversaw the 3,300-plus banks, intermediaries, and asset managers registered with the agency to trade derivatives in US markets. He was responsible for the CFTC's examination, rulemaking, and enforcement referral programs governing those firms. Josh also was the federal official responsible for oversight of the National Futures Association (NFA), the self-regulatory body for CFTC-registered firms and individuals.