Megha Kalbag

Primary Focus & Experience

Megha advises clients on a broad range of regulatory matters and derivatives transactions, including securities and commodities regulation and financial market infrastructure. She focuses on the Investment Company Act of 1940, the Investment Advisers Act of 1940, the Dodd-Frank Act and the Commodity Exchange Act generally. Her regulatory practice covers both SEC and CFTC initiatives. In this context, she works on bespoke requests and as a specialist on a variety of structured finance and CLO transactions, securities offerings, project finance, leveraged finance, and M&A transactions. Her transactional practice includes advising sell- and buy-side clients on ISDAs, repurchase agreements and bank-owned life insurance and stable value wraps.

Megha is an industry leader in the FICC sponsored member space, and heads Milbank’s team on the Futures Industry Association’s (the FIA’s) CCP Risk Review, the leading comparative analysis of the rules and regulations of CCPs globally. In addition, Megha has been a key resource for clients and internal stakeholders during the transition away from LIBOR, and in this capacity she has negotiated contract-specific terms as well as provided guidance on industry documentation and the LIBOR Act.

Recognition & Accomplishments

Megha received her Juris Doctorate from Columbia Law School and received a Bachelor of Arts from Columbia University, where she graduated magna cum laude. Megha was previously ranked as an associate to watch by Chambers and Partners in the USA nationwide derivatives sector. She is also an active member of the firm’s diversity and inclusion committees.