Nancy Carroll > McCarthy Tétrault > Toronto, Canada > Lawyer Profile

McCarthy Tétrault
66 Wellington Street West
Suite 5300, TD Bank Tower Box 48
Toronto ON M5K 1E6

Work Department

Insurance: Transactional & Regulatory


National Head of Insurance and Reinsurance Group. With deep insurance regulatory and transactional expertise, advises insurance companies, reinsurance companies, insurance agencies, brokerages, banks and financial institutions on complex transactions, regulatory and corporate governance matters. Acts for domestic and international insurance companies on significant M&As, reinsurance transactions, transfers, demutualizations, reorganizations, licensing and commercial matters. Advises on all aspects of insurance and bank regulatory compliance: regulatory approvals, financing, outsourcing, privacy, cyber security, anti-money laundering, insurtech/fintech, compliance and market conduct reviews, risk management, permitted investments, and distribution of insurance and other financial services. Acts on the establishment of insurance companies, reinsurance companies, brokerages and banks, and entry to and exit from the Canadian market. Advises regulated and unregulated financial services providers and corporations on what constitutes insurance and licensing requirements. Member of Financial Services Regulatory Authority of Ontario (FSRA) Stakeholder Committee for Life & Health Insurance.


JD (University of Toronto, 1984); Ontario Bar, 1986.


Canadian Bar Association, Ontario Bar Association, American Bar Association.

Lawyer Rankings

Canada > Insurance

(Leading individuals)

Nancy CarrollMcCarthy Tétrault

McCarthy Tétrault scores highly with clients for its ‘thorough knowledge of the insurance licensing process and regulatory requirements‘. In Toronto, high-profile department co-head Nancy Carroll attracts rave reviews from sources for her ‘keen understanding of both the regulatory landscape and marketplace‘; she recently teamed up with the firm’s private equity practice to advise True Wind Capital on its investment in Sterling Capital Brokers. Fellow group co-head Hartley Lefton, also in Toronto, is an impressive up-and-coming name within corporate insurance. The group’s robust regulatory and transactional offering is supplemented by a solid contentious capability, which draws on Toronto-based insurance litigation head William Scott and the ‘highly knowledgeable and practicalAidan Cameron in Vancouver.

Canada > Banking and finance

Noted for its ‘knowledge of industry precedents‘, McCarthy Tétrault possesses an enviable track record of involvement in many of the country’s landmark finance transactions. The firm also houses a prominent regulatory practice, which frequently advises domestic and foreign financial institutions on financial services policy development and implementation. Names to note in the former sphere include high-profile specialist Richard Higa, who shines in major, large-scale lending transactions. Higa led on one of the market’s marquee deals for 2021 when he acted as Canadian counsel to Bank of America Securities and Bank of America (Canada Branch) — as financial advisor, underwriter and lead arranger to Rogers Communications — in relation to Rogers’ C$26bn acquisition of Shaw Communications. The group also includes Justin Lapedus, whose practice takes in a broad range of secured and unsecured lending transactions; project finance specialist Stephen Furlan; and Montreal-based Michel Deschamps. On the non-transactional side, Ana Badour is recommended for her strong skill sets in banking regulation and fintech, while Nancy Carroll combines strength in financial services and insurance law matters. Seasoned counsel Barry Ryan is also highly regarded for his long-standing reputation in the banking and finance field. Up-and-coming names include partner Ian Mak and talented associate Noel Chow, both of whom focus on transactional work. Debt capital markets expert Marc MacMullin spearheads the broader financial services department.