Paida Manhambara

PAIDA MANHAMBARA advises a range of global financial institutions, including banks, payment service providers, card networks, electronic money issuers, FinTechs, and investors on complex EU/UK regulatory, commercial, and transactional issues comprising:

• Authorization and licensing requirements, regulatory permissions and exemptions, variation of permissions, as well as using agents, distributors, and appointed representatives.
• Conduct of business obligations, governance, reporting requirements, and compliance arrangements, including in relation to outsourcings, market abuse, product governance, and conflicts of interest.
• Anti-money laundering and KYC rules.
• Digitalisation projects, product design, and multi-jurisdictional expansion projects.
• Contentious and non-contentious engagement with regulators, including regulatory investigations and enforcement actions.
• Regulatory aspects of mergers and acquisitions in the financial services sector.

Before joining Sidley, Paida practiced at a leading London-headquartered global law firm. She leverages experience gained during this time while seconded to the consumer finance team of a major UK retail bank to provide pragmatic advice.

She is also a contributing author to the Journal of Payments Strategy & Systems, the leading journal on payments strategy and systems.

Paida’s representative experience includes advising:

• Great Hill Partners on financial services regulatory aspects of its pending strategic majority investment in a newly formed organization comprising Vivup, a leading provider of health and well-being benefits, and Perkbox, an award-winning global benefits and reward platform.
• An online marketplace on the application of UK and EU payments regulation to its business and requirements relating to EU Digital Identity Wallets.
• A major merchant acquirer on the application of UK and EU regulatory requirements to its business.
• A multinational bank on strategic cross-border regulatory matters.
• Several regulated firms on the application of the FCA’s new Consumer Duty.
• The UK government on policymaking in the financial services sector.
• A multinational investment bank on the financial services regulatory aspects of integrating a newly acquired online investment management platform.
• A FinTech startup on the financial services regulatory aspects of its product design, appointed representative, and multiple principal agreements and FCA application for authorization.
• A major investment bank on compliance with the EBA Outsourcing Guidelines.
• A major investment bank on the application of the UK market abuse regime and performing a full scope review on the adequacy of its relevant systems, controls, policies, and procedures.
• A cryptocurrency exchange on the application of the UK financial promotions regime.
• A non-UK CCP on its application to the Bank of England for recognition as a third country CCP.
• A major investment bank on compliance with the SFDR, Taxonomy Regulation, and other ESG-related matters.

Some of the above matters were handled prior to joining Sidley.

• Member, Law Society of England and Wales
• Freeman of the Worshipful Company of International Bankers