Tawfiq S. Rangwala is a partner in the New York office of Milbank, Tweed, Hadley & McCloy and a member of the firm’s Litigation & Arbitration Group. Mr. Rangwala also spent two years resident in Milbank’s London office.
Mr. Rangwala's practice focuses on US and international regulatory and criminal enforcement matters, as well as corporate internal investigations across multiple jurisdictions and industries. Most recently, he represented a large global bank in LIBOR-related investigations being conducted by more than a dozen civil and criminal authorities worldwide, including the US Department of Justice, the CFTC, the UK Financial Conduct Authority and other authorities and central banks in several European and Asian countries. Mr. Rangwala is also conducting an internal review of FX trading practices on behalf of a major financial institution, and represents a large broker-dealer in a FINRA investigation relating to alleged manipulative trading practices.
Mr. Rangwala has represented institutions and individuals in a wide range of government investigations and proceedings, including matters involving the origination and securitization of subprime mortgage loans, sales practices for auction-rate securities, insider trading, market timing and late trading of mutual funds, stock options backdating, best execution obligations of broker-dealers, directed brokerage and revenue sharing practices of investment advisers, promotion of tax shelters by accounting firms, kickback schemes in the securities lending industry and the defrauding of a set of high-net worth individuals by their former investment adviser.
Mr. Rangwala also helps financial services firms and corporate clients comply with evolving regulatory obligations, both in the US and internationally. This includes advising broker-dealers, investment advisers and banks on compliance with the securities laws and the rules and regulations of the SEC, FINRA and other self-regulatory organizations. He is also frequently called upon to assist clients in the development of appropriate systems and controls to govern their business and trading activities.
In addition to regulatory matters, Mr. Rangwala has extensive experience handling federal and state court litigation of complex commercial cases involving securities and corporate law, contract disputes and financial restructuring. He is also involved in high-profile litigation on behalf of pro bono clients of the firm, including leading a team that recently secured a court order vacating the death sentence of a Louisiana man convicted of murder in 1986.
