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"Matheson's real advantage to other Irish firms is Alan Keating in New York.  We can have face to face contact, that's immensely helpful."

Chambers Europe

Expertise

Alan Keating is a partner in our Finance and Capital Markets Department and heads the firm’s New York office.  Alan has been based in New York office since 2011.

Alan advises international companies and financial institutions, asset managers, private equity firms, hedge funds, investment banks, alternative lenders, arrangers, issuers, rating agencies, trustees and investors on all aspects (including restructuring) of debt capital markets, securitisation (cross-border and domestic), structured finance and fund finance transactions.

In particular, Alan advises on CLOs, CDOs, LPNs, NPLs, RMBS, CMBS, US life settlements, receivables and mortgage securitisations, ABS, ABCP, MTN and repackaging programmes, deposit and fund-linked structured products (including Shariah-compliant structures), cat bonds and other insurance-linked securities (ILS), high-yield and other debt offerings (both public and private).

Alan has extensive experience of advising US based alternative asset managers on the structuring, establishment and capital-raising for funds implementing a wide range of investment strategies and also funds investing in private equity, distressed debt and other credit-led opportunities, real estate, infrastructure and a broad range of other asset classes.

Alan also advises clients on Irish prospectus, transparency and market abuse law, and listing queries relating to the listing of debt securities on the Main Securities Market and the Global Exchange Market of Euronext Dublin.

Alan has acted on a number of high profile and market-first transactions involving peer-to-peer (P2P) and marketplace lending platforms, including Europe’s first marketplace lending securitisation.

Alan is a qualified solicitor and a qualified tax consultant and is a member of the Law Society of Ireland and the Irish Tax Institute.  Alan was previously seconded to the legal department of a large investment bank in London where he acted as in-house counsel to the Global Markets — Fixed Income trading desk.  Alan is licensed as a Foreign Legal Consultant with the Supreme Court of the State of New York.

Alan previously tutored at the Law Society of Ireland and University College Dublin.

Experience Highlights

Recent highlights include:

  • Advising a US alternative asset manager on the structuring and establishment of a US$2 billion senior direct lending loan fund.
  • Advising on Europe’s first marketplace lending securitisation of UK SME loans originated through one of the largest UK online marketplace lending platforms.
  • Acting as issuer legal and tax counsel on European CLO transactions (synthetic and cash, managed and static), including a number of US managers’ debut European CLO transactions.
  • Advising US based asset managers, hedge funds and private equity funds on the establishment of Irish investment vehicles for the purposes of acquiring and / or originating (directly or indirectly) a broad range of financial assets in North America and across Europe.
  • Advising a global asset manager on the structuring and establishment of a number of multi-billion dollar funds focusing on infrastructure, real estate and credit-related assets.
  • Advising a US investment firm on the structuring of a US$300 million investment by a European pension fund in a senior secured loan fund focused on North American borrowers.
  • Acting as Irish legal and tax counsel on the European Investment Bank’s first marketplace lending investment.
  • Advising asset managers and hedge funds on acquisitions and disposals of non-core or distressed loan portfolios and financial assets.
  • Advising many of the world’s leading investment banks on an on-going basis in respect of their ABCP, MTN and repackaging programmes.
  • Advising various arrangers on structuring and offering of equity, fund and commodity linked securities.
  • Acting as trustee and agency counsel on structured finance transactions.
  • Acting as borrower and lender counsel in connection with a number of secured revolving credit facilities.
  • Acting as issuer counsel on the acquisition, origination and migration of US life settlement structures
  • Advising on ECB eligible ABS transactions.
  • Advising an Australian pension fund on its investment in a European CLO.
  • Advising Irish corporates on their high-yield bond offerings, including the first ever Eurobond offering by a Bermuda based insurer and reinsurer.
  • Advising insurance and reinsurance companies on the establishment of special purpose reinsurance vehicles (SPRVs).
  • Advising on Russian and Eastern European originated transactions involving the securitisation of consumer and car loans, credit card receivables and other asset classes (both performing and non-performing).
Accolades

Alan Keating is named ‘Highly Regarded’.
IFLR1000 2020

Alan Keating is recommended.
European Legal 500 2019

Alan Keating has been "great to work with from the very beginning. He knows how to strike the balance of communicating with the client at a business level but handling mire technical work independently".
Chambers Europe 2019

Alan Keating is "very detail oriented".
Chambers Europe 2019

Matheson’s real advantage compared to other Irish firms is Alan Keating in New York. We can have face to face contact, that’s immensely helpful.
Chambers Europe 2019

Alan Keating is named a Highly Regarded Individual
IFLR1000 2019

"Alan Keating is very capable."
Chambers Europe 2018 

Clients note that Alan Keating "thought hard about the issues and did a tremendous job of keeping the process on track".
Chambers Global & Europe 2018

"He is one of the most responsive lawyers in the market."
Chambers Europe 2018

Alan Keating is named a Highly Regarded Individual.
IFLR1000 2018

Debt Capital Markets Foreign Expert.
Chambers Global 2017

Education

Qualified as a solicitor in Ireland

Qualified as a solicitor of the Senior Courts of England and Wales (non-practising)

Irish Tax Institute (Chartered Tax Adviser)

University College Dublin (LLM in Commercial Law)

University College Dublin (BBLS)

Securitisation Regulation Requirements to Enter Into Force

Sep 16, 2020, 23:06 PM
The European Securities and Markets Authority (“ESMA”), the EU’s securities markets regulator, confirms that the different elements of the new regime under the Securitisation Regulation (“SR”) will come into force on 23 September 2020.
Title : Securitisation Regulation Requirements to Enter Into Force
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Insight Date : Sep 10, 2020, 12:10 PM
The European Securities and Markets Authority (“ESMA”), the EU’s securities markets regulator, confirms that the different elements of the new regime under the Securitisation Regulation (“SR”)  will come into force on 23 September 2020.

This follows the publication of seven technical standards implementing the SR in the Official Journal of the European Union. The publication of the technical standards triggers the following:

  • Opening of applications for entities to register as a Securitisation Repository (“Repository”); and
  • Entry into force of new disclosure templates.

Repositories

Repositories will centrally collect and maintain the records of securitisations and will be registered and supervised by ESMA. Those entities who wish to be registered as a Repository by ESMA can submit their applications from 23 September 2020.

Until ESMA has registered at least one Repository, information that should be made available by reporting entities to Repositories on public securitisations must continue to be made available via a website which meets certain requirements (pursuant to the fourth sub-paragraph of Article 7(2) of the SR).

Reporting Templates

ESMA reporting templates will now become mandatory for use in reporting from 23 September 2020. The securitisation technical standards (including those relating to disclosure requirements) were published in the Official Journal of the European Union on 3 September 2020. The reporting templates can be found in Annexes II to XV of Commission Implementing Regulation (EU) 2020/1225.

ESMA has published guidance on how to fill in the disclosure templates in its Q&A Document on Securitisation Topics. Stakeholders with questions which are not addressed in this document are invited to submit their question(s) to ESMA through its dedicated Q&A tool. XML schema and validation rules as well as reporting instructions for these templates are available on ESMA’s website.

There is no transitional period. Reporting entities should therefore have processes and systems in place to report under the new rules  from 23 September 2020.

For further information, please contact  Christian DonaghTurlough GalvinAlan KeatingRichard Kelly or your usual Matheson contact.

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