Paida Manhambara

Paida Manhambara is a financial services specialist, advising clients on regulatory, commercial, and transactional matters. She regularly acts for banks, asset managers, card issuers, merchant acquirers, online marketplaces, international payment systems, electronic money issuers, crypto asset service providers, and other fintech firms in connection with:

• UK/EU and cross-border regulatory licensing and structuring matters. 
• Conduct of business obligations.
• Financial crime, including AML/KYC requirements.
• Outsourcing arrangements.
• Contentious and regulatory engagement matters, including internal and external investigations.
• Digitalization projects, product design, and multi-jurisdictional expansion projects.
• Buying, selling, or investing in the financial services sector.

She leverages experience gained while seconded to the consumer finance team of a major UK retail bank to provide pragmatic advice.

Paida is also a co-author of the leading practitioner’s text in her field, “Payment Services: Law and Practice” (Elgar, 2025).

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.
• The Western Union Company (NYSE: WU) in its US$500 million acquisition of International Money Express, Inc. (NASDAQ: IMXI), known as Intermex. 
• Payments firms and electronic money issuers on the application of, and ongoing compliance with, PSD2 and EMD2.
• A non-bank payment service provider on participating in payment schemes across multiple jurisdictions.
• Multi-national banks on strategic cross-border regulatory licensing and structuring matters.
• A global, institutional-grade digital asset manager on structuring and licensing matters.
• Crypto asset firms on the application of the UK financial promotions regime.
• An online marketplace on the application of UK and EU financial services regulation and the use of EU Digital Identity Wallets.
• A range of regulated firms on the application of the Consumer Duty.
• The UK government on the implementation of financial services regulation.
• An investment bank on the integration of a newly acquired online discretionary investment management company / robo-adviser.
• A fintech startup on the development of its offering, from concept and product design, the use of appointed representative and multiple principal agreements, through to its FCA application for authorization.
• Various market participants on white-label arrangements.
• A major merchant acquirer on negotiating partnerships with merchants.
• 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 non-UK CCP on its application to the Bank of England for recognition as a third country CCP.
• ESG firms on compliance with the SFDR, Taxonomy Regulation, and ESG Ratings Regulation.

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