Lawyer Profile Detail

Nancy J. Carroll




Financial Services
Regulatory Advice






[email protected]



University of Toronto


Ontario, 1986


Chinese Version

Nancy J. Carroll is a partner in our Financial Services Group in Toronto, head of our National Insurance and Reinsurance Group and a former member of McCarthy Tétrault's governing Board of Partners. She advises banks, insurance companies, financial institutions and pension plans on transactions and regulatory matters. She has expertise in banking law, insurance law, financial services law and regulation.

Ms. Carroll acts for international banks and insurance companies on establishing their branch operations in Canada. Ms. Carroll has extensive experience representing banks and pension plans on complex mergers and acquisitions. She also acts regularly for domestic and international insurance companies on significant mergers and acquisitions, reinsurance transactions, transfers of blocks of business, demutualizations, corporate reorganizations, and licensing matters. She advises banks, insurance companies and other financial institutions on regulatory compliance, regulatory approvals, financing, outsourcing, privacy, anti-money laundering, document retention and e-commerce. Ms. Carroll acted as counsel on the first demutualization of a large life insurance company in Canada, The Mutual Life Assurance Company of Canada.

Ms. Carroll is the editor of Consolidated Insurance Companies Act of Canada, Regulations and Guidelines, 2017 Edition published by Thomson Reuters. She has co-authored the Canadian chapter of Anti-Money Laundering International Law and Practice, published by John Wiley & Sons. She has co-authored a public consultation paper on insurance law reform in Ontario. She acted as an advisor to insurance regulators, having served as a member of the Insurance Legislation Review Project established by the Ontario Government to make detailed recommendations for modern provincial insurance legislation and as a member of the Financial Services Commission Ontario Insurance and Deposit Institutions Legal Advisory Committee.

Ms. Carroll is listed in Lexpert as a leading lawyer in Financial Institutions Regulation. She has a Distinguished peer rating in Martindale Hubbell for Mergers, Acquisitions and Divestitures, Banking Law and Corporate Law. She is recognized as a leading lawyer in the Legal Media Group’s Guide to the World’s Leading Insurance and Reinsurance Lawyers, The International Who’s Who of Insurance and Reinsurance Lawyers, The International Who’s Who of Business Lawyers, and Who’s Who Legal: Canada. She is ranked in the current edition of Chambers Canada in the area of insurance: transactional & regulatory. Ms. Carroll has also been recognized in the Legal Media Group’s World Leading Women in Business Law Directory.

Ms. Carroll is a frequent writer and speaker on regulatory, privacy, anti-money laundering and e-commerce matters concerning banks, insurance companies and other financial institutions.

Ms. Carroll received her JD from the University of Toronto, her MA (International Politics) from Queen’s University, and her BA (Hons.) (Political Science and History) from Mount Allison University. She was called to the Ontario bar in 1986.



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McCarthy Tétrault delivers integrated business law, tax, real property, labour and employment, and litigation services nationally and globally through offices in Vancouver, Calgary, Toronto, Montréal, Québec City, as well as in New York City and London, UK.