Teresa Khoo


Teresa advises on a wide range of derivatives transactions and collateral structuring matters and, in addition, also specialises in implementing solutions for clients subject to regulatory risk mitigation requirements (particularly in relation to variation margin and initial margin obligations arising with respect to uncleared derivatives).

In particular, she has worked as both drafting and review counsel for the International Swaps and Derivatives Association, which publishes the industry standard documentation for market participants in OTC derivatives products and conducts the standard review process for custody terms supporting initial margin arrangements from a regulatory compliance perspective.

Teresa advises on the transactional side in a large range of derivatives products including in particular financial guarantees and credit derivatives (with an additional focus on various collateral structuring matters supporting derivatives transactions more generally). She works frequently in a cross-border context, co-ordinating large scale multi-jurisdictional documentation projects and has also advised in relation to the development of codifying legislation for newly created legal jurisdictions. In addition to transactional work, Teresa also regularly acts in an advisory capacity, for example, in relation to the provision of insolvency legal opinions for regulatory capital purposes and other topics including true sale and insurance recharacterization matters. She also has extensive experience in relation to large secured financing transactions by negotiating the hedging-related aspects and separately has advised on contentious matters where the subject matter of proceedings involved derivatives and/or repo and stocklending contracts. Teresa has also collaborated with other specialist teams within the firm on risk reallocation transactions for insurance and pension fund clients.



Admitted as solicitor, England and Wales, 2011


BA Social and Political Sciences, University of Cambridge, 2007

Graduate Diploma in Law, College of Law, London, 2008

Legal Practice Course, College of Law, London, 2009

A&O Shearman was formed on May 1, 2024 by the combination of Shearman & Sterling LLP and Allen & Overy LLP and their respective affiliates (the legacy firms). Any matters referred to above may include matters undertaken by one or more of the legacy firms rather than A&O Shearman.