From Bay Street to fintech start-ups, from the rise of cryptocurrency to the cutting edge of digital payments—Stacey (Nice) Hoisak (LLB’98) has built a career defined by adaptability and innovation. Today, she leads legal and compliance for one of Canada’s foremost companies in white-label payments and banking-as-a-service solutions. NEXUS caught up with Hoisak to reflect on her time at UNB, the twists and turns of her career path, and the exciting, ever-evolving landscape of the fintech sector.
I really loved my time at UNB Law—it has such a close-knit community, full of supportive professors who took the time to challenge and mentor us. I was drawn to law because I’ve always been interested in the analytical side of things and problem-solving, and I wanted to explore how to apply that to complex issues. It also helped satisfy my love of reading, writing, and critical thinking. UNB Law felt like the right fit because of its strong reputation, small class sizes, and the opportunity to really build lasting relationships with both faculty and peers. I had also done my undergrad in Science at UNB, so I knew that I loved Fredericton and wanted to stay there.
In those first few weeks of law school, I felt a little out of place. I think I might have been the only person in my section with a science degree, and I had moments of imposter syndrome and self-doubt. The shift from labs and experiments to casebooks and legal arguments felt overwhelming at times, and I questioned whether I could really do it. The welcoming and supportive professors really helped me find my place and settle in.
Looking back, I think if I had gone to a larger law school, I might have gotten lost in the crowd. But at UNB, I was able to build relationships with my professors right from the start, which made me feel much more at home.
One of my favourite experiences was in trial practice with Prof. Bladon. He made everything engaging and fun. We held moot courts and trial exercises, even recruiting friends from other classes to act as witnesses. It was a challenging but rewarding class, and I loved every minute of it.
I also really enjoyed both corporate finance and tax law with Prof. Bird (BCL’67). He was tough—very tough—but also very fair. I was used to earning A’s across the board, so when I got a C+ on his tax law exam, I couldn’t believe it. After reviewing my answers, I went to his office to discuss a few of the questions. He told me, “If you can explain why you think you’re right, I’ll listen.” We ended up debating for an hour and a half, and he ultimately agreed with me on two of the three questions, raising my grade to a B+. That willingness to listen and to treat the exchange as a real debate was an incredibly impactful experience.
I honestly had no plans to move to Toronto—or even leave the Maritimes. I assumed I’d stay close to home. But during recruitment week, Stikeman was one of four firms that came to campus to hire summer students. They interviewed me, took me out to dinner, and really won me over. I began to think of Toronto as an adventure. I didn’t know anyone there, but that kind of leap has always appealed to me. So, I took the chance. I joined Stikeman as a summer student after my second year, had a fantastic experience, and was invited back first as an articling student and then as an associate. Looking back, it was an incredible foundation for my legal career.
When I was articling, I had the chance to work on a bit of everything. Once I became an associate, I focused on corporate law, which quickly narrowed into M&A and securities work. At that time, there was a lot of public M&A activity, so that became the core of my practice.
That experience sparked a strong interest in securities law, and with Stikeman’s support, I completed my Master’s Degree in securities law while continuing to practice. One of the highlights of that period was working in-depth in the field of income trusts, which was just emerging in Canada. My mentor, Simon Romano, was a pioneering legal innovator behind the structure, and I was fortunate to work closely with him. For a few years I did a great deal of income trust work until the tax rules changed, and then we worked on unwinding them!
It was a demanding environment, especially with the long hours expected of young associates in private practice, but the people made all the difference. I felt incredibly lucky to be surrounded by colleagues I genuinely enjoyed working with.
From there, I transitioned into in-house roles, including at a small FinTech start-up called Alpha Exchange, and then private equity with Birch Hill Equity Partners and various other General Counsel roles, mainly in the FinTech space.
It was a combination of factors. At that point, I was a senior associate considering whether to pursue partnership. I had also just returned from my second maternity leave, so balancing work and family was on my mind. But what really drew me in a new direction was my growing interest in the business side of things.
Over seven years of working on deals, I became key counsel to a couple of clients and developed a deep understanding of their businesses. I realized I enjoyed engaging with the strategy, operations, and overall business challenges as much as, if not more than, the legal aspects. After some reflection and conversations with many mentors, I decided to pivot toward a role where I could combine my legal expertise with a hands-on involvement in business strategy. That decision ultimately set the stage for the next phase of my career, where I could contribute at both the legal and strategic levels.
I’ve always been fascinated by innovation, and fintech is where law, technology, and finance all collide. My first role after private practice was with a fintech startup, Alpha Trading Systems was a small company in the sense of the number of employees, but probably the smartest group of people I’ve ever worked with in one place. The company’s goal was ambitious: to build a new stock exchange that could compete with the TSX. It was backed by major Canadian investment dealers, so there was a lot at stake.
I focused primarily on the regulatory and commercial law aspects, helping the company navigate the approval process. We secured regulatory approval, launched successfully, and within about a year had captured roughly 20% of the market share. At that point, the TSX decided to acquire us. I then spent about a year and a half working on the acquisition and integration, which was a great outcome for both sides.
Early on, my role was very hands-on—structuring deals, working with regulators, and supporting rapid growth. Over time, it’s evolved into more leadership and governance, balancing innovation with risk management.
Every part of that experience was unique. When I joined Coinsquare, I actually knew very little about crypto, which was part of the appeal. I was approached about the role of general counsel, met with the team several times, and ultimately decided to take the leap because I wanted to learn.
The company had already run into regulatory challenges before my arrival. To be fair, the whole crypto industry at the time was a gray area—regulations were unclear, and many companies were navigating untested waters. About six months after I joined, Coinsquare reached a settlement with the securities commission. As part of that, the CEO and two other senior executives stepped down, leaving the board to find replacements. Because of my background as a lawyer—and because the company needed credibility with regulators, shareholders, and banking partners—I was asked to step in as interim CEO. It was only supposed to be for a month, but that first month was a whirlwind, and grew into a one-year role. My focus was on rebuilding trust with regulators, shareholders, vendors, banks, and employees, while also providing stability and reassurance to the team.
The group that stayed on at Coinsquare, along with the new board and executive members we brought in, was outstanding. It was truly the ultimate team effort. You don’t realize the strength of the people around you until you’re in a crisis, and everyone really came together to save the company. Looking back, it was undoubtedly the most stressful year of my career—there wasn’t even a learning curve, it was vertical. But it was also the greatest crash course in crisis management and resilience I could have imagined. I’m really grateful to have been given the opportunity to help lead the company through that period, and I wouldn’t change it for the world.
Berkeley is a Canadian fintech company that operates mainly in the payments space—things like prepaid cards and related solutions. The company has actually been around for about 20 years. It’s relatively small and tightly run, fully Canadian-founded and owned. You won’t typically see the Berkeley name on prepaid or gift cards, even though those products are everywhere now. That’s because the company works behind the scenes, providing white-label solutions for partners. Essentially, Berkeley powers the infrastructure while the client’s brand is front and centre.
I joined as their first in-house lawyer. Until then, all of the company’s legal work had been handled externally, and while outside counsel did a great job, Berkeley was growing and expanding. They wanted someone who could not only handle legal work internally, but also really learn the business and contribute at the executive level—particularly on strategy. That combination of law and business was exactly what I was looking for.
My day-to-day involves everything from contract negotiations and regulatory reviews to advising the executive team on strategy and risk. A big part of the role is ensuring we can innovate responsibly while maintaining trust with our clients and regulators. It’s been a great fit. The leadership team is smart, collaborative, and genuinely kind, which makes a huge difference. I’ve been with Berkeley for about a year now, and it’s been an excellent opportunity to continue working at the intersection of fintech, law, and strategy.
In the space I’m working in now, there’s a lot of focus on open banking and real-time payment rails. Both have been on the radar of Canadian regulators and the federal government for quite some time, and industry groups have noted that Canada has fallen a bit behind other G7 countries on open banking in particular. So, that's something that we're watching really closely.
Another area we’re watching closely is privacy law. New legislation to modernize PIPEDA was expected to come into force with Bill C-27, then dropped off the table with the change in government. It is unclear if and when it will be back on the agenda, but if it arrives, enhanced privacy and data protection requirements will have a major impact on companies like ours.
Most recently, the Retail Payment Activities Act introduced a new framework of requirements for payment service providers such as Berkeley. Its central goal, like much of the regulatory activity in fintech, is consumer protection. Privacy remains a huge priority, but regulators are also conscious of the need to balance protection with innovation so as not to stifle growth in the industry. So far, I think they’ve managed that balance reasonably well, and it will be fascinating to see how it continues to evolve.
Beyond open banking and payments regulation, two shifts stand out. The first is the mainstreaming of digital assets. Since the early 2010s, cryptocurrencies and now stablecoins have gone from niche to front-page news, driving new regulatory frameworks worldwide. It’s been fascinating to watch the space change dramatically, with periods of enthusiasm, skepticism, and renewed interest. The second is the rise of embedded finance and API-driven services, which have transformed how people access payments, credit, and other finance tools.
For me, both of these underscore the importance of balancing innovation with accessibility. Financial technology has enormous potential to serve underrepresented groups—the underbanked, or those who struggle to meet the strict requirements often needed to open a bank account or transfer money online. At the same time, regulators need to ensure that new systems don’t create avenues for money laundering or other risks.
Finding that balance—between robust protections and broader access to the financial system—is one of the central challenges in fintech. And it’s also one of the most exciting opportunities.
AI in financial services, stablecoins and digital currencies, and global payments are at the top of the list. They each carry their own legal implications. AI in financial services raises questions of bias, explainability, and liability. Stablecoins and digital currencies challenge existing securities, banking, and payments laws. And cross-border payments—especially in a fragmented regulatory environment—will require harmonization on AML, data protection, and consumer rights. Together, these will define the next decade of fintech law.
It’s about embedding compliance into product design, working hand-in-hand with leadership, technology, and product teams so the guardrails are clear early, not bolted on later. I always advocate using a risk-based approach, which helps align regulatory expectations with business goals. Most importantly, when legal and compliance are seen as partners, not blockers—and when there’s open dialogue with regulators—innovation and compliance can reinforce each other.
Regulators are becoming more open, but there’s still room for dialogue. Greater collaboration and sandboxes where companies and regulators can experiment safely are helpful. We do have a lot of interaction with both regulatory groups and advocacy groups, and I feel like there is a true desire on both sides to continue to work together to bolster innovation.
Best practices include privacy-by-design, regular training, and strong governance. Creating a culture where employees understand privacy isn’t just legal’s job—it’s everyone’s responsibility—is key.
I think the key is understanding the risk you take when you over-disclose or don’t pay attention to what you’re agreeing to. And it’s not easy, companies often bury their privacy policies and make it difficult to opt out. That’s one of the things new privacy legislation in Canada will likely address by requiring clearer and more accessible options.
We live in an age of convenience and instant gratification. Most of us—myself included—are guilty of just clicking “accept” to move forward. The problem is that every time you do, you’re giving away some of your personal information. And once it’s out there, there’s no getting it back.
If I could give one piece of advice, it would be: take a moment before you click. Check what you’re agreeing to. As privacy laws evolve and offer stronger protections, those protections only work if you take advantage of them.
It’s certainly been a journey, and so much has changed over the years. From my earlier leadership roles to now, I’ve seen a real evolution—not just in the industry, but in myself as a leader.
Earlier in my career, as a woman in leadership, I often felt the need to project extra confidence, and that could be met with labels like “overly assertive.” Those moments reflected broader biases that many women in leadership still encounter.
What I’ve learned over time is the importance of balance. Strength and empathy are not opposites—they complement one another. You can lead with confidence and decisiveness, while also showing humility and genuine care for the people around you. That balance has become central to my own leadership style, and I think it’s what makes leadership not only effective, but sustainable.
I think what I’m most proud of comes down to two things. First, I’ve never been afraid to branch out into something new. Time and again, I’ve trusted my instincts and followed opportunities that felt right—even when they meant stepping into unfamiliar territory. That flexibility, adaptability, and resilience have led me into some fascinating roles where I’ve learned a tremendous amount.
Second, I’m proud of the impact I’ve had on the people and organizations I’ve worked with. I’ve had the privilege of helping to build strong companies and, just as importantly, of mentoring others. Early in my career, I had incredible mentors who shaped the way I thought about leadership, and I’ve always tried to pay that forward. Even with relatively small teams, I’ve made it a priority to help people grow, develop, and find their own paths. At the end of the day, I hope I’ve managed not just to contribute professionally, but also to be a good person along the way. Looking ahead, I want to keep building on that foundation: taking on opportunities where I can help organizations scale responsibly, while continuing to support and inspire the next generation of leaders.
