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Damian Carolan



Carolan Damian
Damian Carolan



Damian advises financial institutions on national and international regulations, with a particular focus on derivatives and securities regulation and the development of new markets and clearing settlement systems.

He advises banks on regulatory reform, including changes to custody requirements, payment systems and the authorisation processes to open new branches and subsidiaries. Damian has also assisted industry associations with developing standard form documentation and submitting responses to consultations with regulators.

Damian is ranked as a leading individual for regulatory matters by Chambers & Partners and as a leading lawyer by IFLR1000 and is regularly quoted in the press on regulatory matters.

“One interviewee describes him as “both technically expert and user-friendly,” and notes: “He genuinely understands how financial institutions are put together and the regulatory environment in which they function.”” – Chambers UK 2018 – Financial Services: Non-contentious Regulatory. 

News & insights

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Publications: 17 DECEMBER 2019

Dramatic December Election - Consequences for Financial Services Regulation

As the UK processes the result of December's general election and the political drama that entailed, we reflect on what it means for financial institutions’ Brexit plans.

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Publications: 20 JUNE 2018

Allen & Overy's weekly update on Key Regulatory Topics - 8 June 2018 – 14 June 2018

Allen & Overy publish weekly updates on key regulatory topics affecting the financial services sector. If you would like to receive this update by email and be added to our marketing mailing list please contact  

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Publications: 13 JUNE 2018

PRA consultation paper published on the revised EU securitisation framework and significant risk transfer

On 22 May 2018, the UK Prudential Regulatory Authority (PRA) published a consultation paper [PDF] setting out its proposed approach to implementing certain matters related to the coming EU Securitisation Regulation and revised securitisation capital framework under the amended EU Capital Requirements Regulation (CRR), as well as certain updated expectations on the part of the PRA with regard to significant risk transfer (SRT) securitisation.

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Publications: 20 FEBRUARY 2018

PRA consultation paper published on eligibility requirements for guarantee CRM

On Friday 16 February 2018, the PRA published a consultation paper on the eligibility of guarantees as unfunded credit risk mitigation (CRM).

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Admitted as solicitor, England and Wales, 1997