Carol Derk

Senior Counsel

Toronto
[email protected]
416.367.6181

Carol Derk is senior counsel and a member of BLG’s Securities and Capital Markets Group, the national leader of BLG’s Derivatives Group and the national leader of the Digital Asset Group.

Carol practises in securities law, specializing in derivatives, investment funds and digital assets. She works extensively for managers of investment funds, particularly in product development.

Carol has an extensive digital asset practice. She advises clients on new investment products, crypto asset trading platforms, security token platforms, staking, DeFi and NFTs. Carol also has a broad derivatives practice, including negotiating documentation, advising on regulatory compliance matters and developing new derivatives-based investment products.

Carol is a regular speaker at seminars and conferences on digital assets, derivatives and investment funds. She is a recipient of the Women’s Executive Network (WXN) 2017 Canada’s Most Powerful Women: Top 100 Award, is recognized as a leader in her field by Derivatives Week and was selected by her peers for inclusion in The Best Lawyers in Canada 2018 in the field of mutual funds law. She is also a member of the Derivatives group which has been recognized as Global Capital’s Canadian Law Firm of the Year for derivatives, an award it has received every year since 2014.

Carol provides legal services through a Law Corporation.

Testimonials

Experience

  • Fidelity Clearing Canada ULC and Fidelity Digital Asset Services regarding acting as a custodian of cryptocurrencies for clients in Canada and registering the first IIROC regulated crypto asset trading platform.
  • Fidelity Investments Canada ULC in connection with the launch of its bitcoin investment funds.
  • Canadian and global crypto asset marketplaces seeking to carry on business in Canada.
  • First Block Capital Inc. in connection with its launch of an exchange-traded fund focused on blockchain investments and its launch of a bitcoin fund sold on a private placement basis in Canada and abroad.
  • Vanguard Investments Canada Inc. in connection with its launch of exchange-traded funds, pooled funds and mutual funds in Canada.
  • Public and private investment funds on all issues relating to digital assets and derivatives on digital assets.
  • Investment fund managers on novel and structured products for all types of investment funds, particularly products that involve the extensive use of derivatives.
  • Investment funds regarding the use of securities lending, repurchase and reverse repurchase transactions.

Beyond Our Walls

Professional Involvement

  • Former member, Fintech Advisory Committee, Ontario Securities Commission
  • Former member, Securities Advisory Committee, Ontario Securities Commission
  • Member, Policy Committee, Canadian ETF Association
  • Member, Canada Legal and Canada Regulatory Committees, International Swaps and Derivatives Association
  • Member, Derivatives Subcommittee, Investment Funds Institute of Canada
  • Member, Canadian Bar Association

Community Involvement

  • Former director, Women’s College Hospital
  • Founding member, The Toronto New School
  • Former director and chair, Canadian Children's Opera Chorus

Awards & Recognitions

  • Recognized in the 2025 edition (and since 2006) of The Best Lawyers in Canada® (Mutual Funds Law), in 2022 (since 2021) for Securities Law and in 2021 for Derivatives Law.
  • Recognized in the 2025 edition (and since 2024) of Chambers Canada – Canada's Leading Lawyers for Business (Investment Funds (Nationwide - Canada))
  • Recognized in the 2024, 2023 and 2012-2018 editions (and since 2012) of The Canadian Legal Lexpert® Directory (Investment Funds and Asset Management) and in the 2024 edition (and since 2017) (Derivative Instruments).
  • Recognized in the 2022 edition of IFLR1000 (Financial Services Regulatory - Notable Practitioner)
  • Recipient of the Women's Executive Network (WXN) 2017 Canada's Most Powerful Women: Top 100 Award.
  • Recognized as a leader in her field by Derivatives Week — an online publication that reports on the global derivatives markets.

Bar Admission & Education

  • Ontario, 1986
  • LLB, University of Toronto, 1984
  • MA, University of Toronto, 1981
  • BA (Hons., major in Music History), University of Alberta, 1980