Michael Garellek

Michael's transactional and advisory work covers a variety of deal types both public and private, including financing and securitization. Michael provides regulatory guidance and best practice to financial industry firms and their representatives as well as, to online marketplace and web3 gaming platforms in Canada. Michael’s specialized practice areas cover legal issues, including those relating to insurance, banking, AML/FT, privacy, securities and OTC swaps and derivatives, among others. This includes critical questions on entity formation, governance and structure. In the areas of payments, securities, banking and insurance, Michael will assist you to make the required applications to Canadian regulators.

• Applications to payments and securities egulatory relating to crypto asset trading platforms, fractional trading of securities and insurance distribution models.
• Provided legal opinions on payments activities, AML/FT and foreign asset control rules and compliance to money transmitter, travel and integrated marketplaces.
• Represented e-gaming companies regarding gaming, payments and securities laws as they apply to loot boxes and in-game awards and gifts.
• Advised an affinity marketing company on the application of securities laws to their digital awards programs.
• Acted for a DeFi protocol on the application of securities and AML laws to the locking of tokens using smart contracts.
• Represented several consumer lenders (BNPL, payday lending, factoring) regarding licensing and disclosure requirements.
• Acted for the Banque Transatlantique, Credit Mutuel/CIC and the BMCE Bank in the opening of their foreign bank representative offices.
• Acted for TradeZero Canada Securities ULC for its licensing as a securities dealer and membership with the Canadian Investment Regulatory Organization (CIRO).
• Acted for State Farm in its CAD 1.6 billion sale of its Canadian insurance and related financial services businesses to the Desjardins Group, and the related CAD 450 million investment by State Farm in the insurance operating companies of the Desjardins Group.
• Assisted a financial institution in its settlement with regulators related to the fallout from the global financial crisis and the investigations into the Canadian Asset-Backed Commercial Paper market.

• The Best Lawyers in Canada™ (2025 Edition) Leveraged Buyouts and Private Equity Law
• Canadian Legal Lexpert Directory 2024
• The Legal 500 Canada Next Generation Partner - Insurance

• Editorial board of the Banking and Finance Law Review
• Ordre des comptables professionnels agréés du Québec (Quebec CPA Order)