Megha Kalbag


F +1 212.822.5395

New York

55 Hudson Yards

New York, NY US 10001-2163

T +1 212.530.5395

F +1 212.822.5395

Megha Kalbag is an associate in the New York office of Milbank LLP and a member of the firm’s Alternative Investments Practice.

Primary Focus & Experience

Megha advises clients on a range of issues involving derivatives documentation and negotiation, as well as on regulatory matters, including commodities and securities regulation, applicable to both cleared and uncleared derivatives transactions. She focuses on the Dodd-Frank Act, the Commodity Exchange Act generally, the Investment Company Act (1940 Act) and the Investment Advisers Act. 

She has extensive experience in navigating clients (sell-side and buy-side) through the global uncleared swap margin rule implementation process. In this context, she also drafted comment letters to US regulators on behalf of the International Swaps and Derivatives Association, Inc. (ISDA). In addition, Megha frequently counsels clients on issues relating to commodity pool operator and commodity trading advisor registration and exemptions. 

Megha’s work includes updating and maintaining the Futures Industry Association’s (the FIA’s) CCP Risk Review, the leading comparative analysis of the rules and regulations of CCPs around the world.

She also works with US and offshore corporations and financial institutions to address investment company status issues, including qualification for exemptions from the Investment Company Act, in a broad range of securities offerings, financings and M&A transactions.

Recognition & Accomplishments

In both 2018 and 2019, Megha was ranked as an associate to watch by  Chambers and Partners in the USA nationwide derivatives sector. 

Megha received her Juris Doctorate from Columbia Law School and received a Bachelor of Arts from Columbia University, where she graduated magna cum laude. 

Additional Details
  • Columbia Law School, J.D.
  • Columbia University, B.A.
  • New York