Usman M. Sheikh, Partner at Baker McKenzie LLP

About

Usman Sheikh is Chair of the Blockchain, AI & Fintech Practice (Canada). He is a Partner in Baker McKenzie's Toronto office, a member of the Firm's Transactional Practice Group and is also a member of the Litigation and Government Enforcement Practice Group. He leads the Firm's blockchain team (consisting of over 150 lawyers) globally, and co-leads the Firm's artificial intelligence (AI) team in North America. A highly regarded thought leader on emerging technology, Usman is often called upon globally by heads of governments, as well as key regulatory and governmental bodies, to provide insight and strategic input on legal and regulatory developments relating to emerging technologies, including FinTech, blockchain technology / digital assets, artificial intelligence (AI), Web2/Web3, quantum computing and the internet of things (IoT).

Usman was named as one of the "Top 25 Most Influential Lawyers" by Canadian Lawyer (2018) and he is the only lawyer in Canada to be ranked Band 1 for FinTech by Chambers for five consecutive years (2020 - 2024). He was also recognized in Toronto Life's The Influentials 2021 list, an annual feature that highlights Toronto's most influential people over the last 12 months.

Author of over 25 legal and academic publications, Usman is set to publish The Law of Blockchain Technology (Thomson Carswell) in 2025.

As a global thought leader on emerging technology and digital transformation, Usman has addressed the International Monetary Fund (IMF), the Bank for International Settlements (BIS), the Financial Stability Board (FSB), the International Organization of Securities Commissions (IOSCO) and the Monetary Authority of Singapore (MAS). He has also co-lectured with the heads of blockchain for Nasdaq and the TMX, and has also presented to the Canadian Investment Regulatory Organization (CIRO) (then, IIROC and the MFDA), the Law Society of Ontario (LSO), the Royal Canadian Mounted Police (RCMP), the Chartered Professional Accountants of Canada (CPA), and several other regulatory and industry organizations on a range of topics including AI regulatory / legal developments, AI governance frameworks, decentralized finance (DeFi), crypto custody, digital wallets, NFTs, crypto exchanges (crypto asset trading platforms), the metaverse and more. Since 2019, Usman has also been serving as an Adjunct Professor with the University of Toronto (Faculty of Law), teaching a course entitled "Blockchain, Digital Assets, and the Law."

Roles

Dec 2022–Present

Current role

Partner, Chair of the Blockchain & FinTech Practice

Baker McKenzie LLP

Toronto, Canada

Civil LitigationAttorney AdvisorTechnologyInformation Technology (IT)LegalArtificial Intelligence

Usman regularly advises clients on emerging technology matters, including artificial intelligence, blockchain and digital assets, FinTech, quantum computing, Web2/Web3 and internet of things (IoT)-related legal issues, both on corporate and litigation cases. With respect to blockchain mandates, he has provided legal counsel on cutting-edge token sales, NFTs, crypto exchanges and other digital asset trading platforms, blockchain-related mergers & acquisitions and cybersecurity breaches. With respect to artificial intelligence, he has provided advice on AI governance, AI-related disclosures, corporate governance, complex AI product counselling, AI procurement and contracting, AI M&A, data protection and privacy, and the protection of AI-generated works. He has also served as counsel on many of the most prominent and novel litigation matters in Canada involving emerging technologies. Over the year's Usman's clients have included Canada's largest banks and stock exchanges, co-founders of Ethereum, supranational organizations, tech giants, 12 of the largest crypto assets in the world, DeFi protocols, metaverse projects, digital wallet and crypto custody providers, social media platforms, sovereign wealth funds, universities as well as numerous fintech pioneers and innovative start-ups.

Aug 2015–Dec 2022

Former role

Partner; National Lead of Blockchain/Smart Contracts; Securities, Compliance, Investigations

Gowling WLG (Canada)

Toronto, Canada

AttorneyCivil LitigationTechnologyInvestigationsCompliance

Usman Sheikh is a litigation partner in Gowling WLG's Toronto office. He is the National Head of the Blockchain & Smart Contract practice group as well as the firm's National Litigation Lead of the Securities, Compliance & Investigations Group. His practice focuses on complex corporate/commercial litigation, with an emphasis on securities litigation and crypto-currency litigation.

Jul 2013–Jun 2015

Former role

Lawyer

Bennett Jones LLP

AttorneyLegal

Dec 2009–Jul 2013

Former role

Enforcement Counsel

Ontario Securities Commission

(appointed)Toronto, Canada

Attorney AdvisorInvestigationsLitigation Support Specialist

Jul 2004–Nov 2009

Former role

Associate

Lenczner Slaght LLP

AttorneyCivil LitigationLegal AssistanceLegal

Recognition

Honors

Named as a top (Band 1) FinTech lawyer in Canada

Chambers for five consecutive years

May 2024

2019 to 2024

Best Lawyers in Canada for Fintech

Best Lawyers

May 2024

2023 and 2024

Litigation Star

Benchmark Litigation

April 2024

2023 and 2024

Recognized

Canadian Legal Lexpert Directory for "Litigation – Securities"

February 2024

2021 to 2024

Recognized

2021 to 2024

March 2023

2021 to 2023

Publications & speeches

Canada: Competition Bureau releases report from public consultation about effects of AI on competition

Baker McKenzie InsightPlus

March 2025

The Canadian Competition Bureau ("Bureau") recently published the Consultation on Artificial Intelligence and Competition: What We Heard ("Report"), which summarizes feedback it received from its 2024 public consultation about how AI is impacting competition in Canada. The Bureau will use the insights from the submissions summarized in the Report to inform how it will protect and promote competition in Canada's AI market. Significantly, the Bureau recognizes the need to balance the interests of incumbent firms and start-ups as AI continues to evolve, and that new or revised enforcement approaches may be required to counter anti-competitive conduct.

Link

Canada: Competition Bureau maintains a watchful eye on AI

Baker McKenzie InsightPlus

December 2024

The Canadian Competition Bureau (the "Bureau") continues to focus on the intersection between artificial intelligence ("AI") and competition law. Earlier this fall, the Bureau hosted the Competition Summit 2024: Market Dynamics in the AI Era, which provided insight into how AI will impact Canadian competition law policy and enforcement, and has released a report summarizing key take-aways. Through investments in its own capabilities and collaboration with domestic and international partners, the Bureau also remains committed to ensuring that it keeps pace with the evolution of the AI ecosystem and technologies, how new business practices may impact competition, and analytical and enforcement best practices.

Link

Baker McKenzie Excels in Chambers FinTech 2025 Guide with 19 Practice Areas and 22 Lawyer Rankings

Baker McKenzie Newsroom

December 2024

Chambers FinTech has released its 2025 Guide, ranking Baker McKenzie in 19 practice areas and 22 lawyers rankings.

Link