Mila Pencheva

Mila is a senior counsel in our Financial Services Regulatory Group.

She has wide experience in the regulation of financial services, with particular focus on the regulation of payment and electronic money services, consumer credit and mortgages.

She often advises clients on the regulatory perimeter and acts for them on various applications to the FCA, including for change in control, authorisation, AML registration and the FCA's regulatory sandbox. Mila also provides day-to-day advice to regulated businesses on their conduct obligations such as treating customers fairly and ensuring their customer terms and conditions, financial promotions and wider communications are compliant with applicable rules and legislation. She has experience coordinating multi-jurisdictional regulatory surveys and regularly provides regulatory input on corporate transactions.

Legal 500 2025: "Mila Pencheva is a consummate regulatory professional with an incredible eye for detail. Quick to understand and contextualise very particular and unusual aspects of products and services."

Legal 500 2026: "Mila Pencheva is among the most outstanding external counsel I have had the opportunity to work with. She combines a meticulous attention to detail with a deep understanding of complex legal and regulatory frameworks, and consistently delivers advice that is not only legally sound but also highly aligned with commercial priorities. Her thoughtful, solutions-oriented approach adds real strategic value."