Abena Mainoo

Abena Mainoo’s practice focuses on investigations and civil litigation.

Firm/Organization: Cleary Gottlieb Steen & Hamilton LLP

Blogs: Cleary Enforcement Watch, Cleary International Trade and Sanctions Watch, Cleary M&A and Corporate Governance Watch

Latest Articles

Cleary Enforcement Watch

Priorities, Trends and Developments in Enforcement and Compliance

By Joon H. Kim, Jennifer Kennedy Park, Abena Mainoo, Rahul Mukhi, David Feinstein & Lyuba Shamailova

January 14, 2020

The following post was originally included as part of our recently published memorandum “Selected Issues for Boards of Directors in 2020”. Enforcement of anti-bribery, sanctions and money laundering laws remains a top priority for US authorities. In 2019, the US Department of Justice and civil regulators issued new or updated policies aimed at increasing incentives for self-reporting by companies. Different agencies also provided additional guidance about compliance programs, including the role of officers…

Cleary M&A and Corporate Governance Watch

Priorities, Trends and Developments in Enforcement and Compliance

By Joon H. Kim, Jennifer Kennedy Park, Abena Mainoo, Rahul Mukhi, David Feinstein & Lyuba Shamailova

January 14, 2020

Cleary International Trade and Sanctions Watch

OFAC Takes Aggressive Enforcement Action in Connection With M&A Transactions and Spells Out Compliance Expectations

By Paul Marquardt, Joon H. Kim, Victor L. Hou, Abena Mainoo & Brandon A. Levey

February 28, 2019

The Office of Foreign Assets Control of the U.S. Treasury Department recently issued a series of instructive press releases regarding enforcement actions taken against several companies. The decision to publicize these enforcement actions could signal a more activist and expansionist approach to sanctions enforcement matters and may evidence a broadening of OFAC’s enforcement priorities as the long run of enforcement against financial institutions begins to wind down. The actions demonstrate a focus on acquisition due…

Cleary M&A and Corporate Governance Watch

Tenth Circuit Affirms Ruling Allowing SEC to Bring Securities Fraud Claims Over Certain Foreign Transactions

By Leslie N. Silverman, Abena Mainoo, Matthew C. Solomon & Alexander Janghorbani

January 30, 2019

Last week, in SEC v. Scoville, the U.S. Court of Appeals for the Tenth Circuit held that Dodd-Frank allows the Securities and Exchange Commission to bring fraud claims based on sales of securities to foreign buyers where defendants engage in fraudulent conduct within the United States. In so holding, the Court concluded that Dodd-Frank abrogated in part the Supreme Court’s rule, announced in Morrison v. National Australia Bank Ltd., that fraud claims under the federal securities laws can only be…

Cleary Enforcement Watch

Tenth Circuit Affirms Ruling Allowing SEC to Bring Securities Fraud Claims Over Certain Foreign Transactions

By Leslie N. Silverman, Abena Mainoo, Matthew C. Solomon & Alex Janghorbani

January 30, 2019

Cleary Enforcement Watch

DOJ Remarks Highlight Changes to White Collar Policy

By Jennifer Kennedy Park, Lisa Vicens, Abena Mainoo & Martine B. Forneret

October 8, 2018

On September 27, 2018, in remarks delivered at the 5th Annual Global Investigations Review New York Live Event, Deputy Assistant Attorney General Matthew S. Miner reported on the accomplishments of the Department of Justice (“DOJ”) over the course of the last twelve months. Importantly, he also discussed recent changes to the DOJ’s policies on prosecution of business organizations and how those changes have been implemented.[1] Miner highlighted the DOJ’s efforts to incentivize and provide…

Cleary Enforcement Watch

Sanofi Settles FCPA Charges With SEC for $25.2 Million

By Jennifer Kennedy Park & Abena Mainoo

September 7, 2018

On September 4, 2018, the Securities and Exchange Commission (“SEC”) announced a $25.2 million settlement with French pharmaceutical company Sanofi (“Sanofi” or the “Company”) for violating the books and records and internal controls provisions of the Foreign Corrupt Practices Act (“FCPA”) in connection with a scheme to bribe foreign officials to increase sales of Sanofi products.[2] The Sanofi settlement encompasses conduct by three Sanofi subsidiaries organized in Kazakhstan, Lebanon and the United Arab Emirates…

Cleary Enforcement Watch

Legg Mason Settles FCPA Charge with SEC for $34.5 Million

By Jennifer Kennedy Park, Abena Mainoo & Martine B. Forneret

September 4, 2018

On August 27, 2018, the Securities and Exchange Commission (“SEC”) announced a $34.5 million settlement with investment management firm Legg Mason, Inc. (“Legg Mason” or the “Company”) for violating the internal controls provision of the Foreign Corrupt Practices Act (“FCPA”) in connection with a scheme to bribe Libyan government officials to secure investments from Libyan state-owned financial institutions.[1] The SEC settlement follows a June 2018 non-prosecution agreement between Legg Mason and the U.S.…

Cleary Enforcement Watch

Recent District Court Decision on Applicability of FOIA to Siemens FCPA Monitorship Documents Provides Guidance on Scope of Possible Disclosures

By Abena Mainoo, Lisa Vicens, Jonathan S. Kolodner & Charity E. Lee

June 26, 2018

On June 13, 2018, in its latest decision in a long-running litigation, the U.S. District Court for the District of Columbia considered the applicability of certain exemptions under the Freedom of Information Act (“FOIA”) to documents sought by journalists relating to the actions of the independent compliance monitor that Siemens AG was required to retain under the terms of its 2008 plea agreement for violations of the Foreign Corrupt Practices Act (the “FCPA”). Broadly speaking,…

Cleary Enforcement Watch

Société Générale Enters Into First Coordinated Resolution of Foreign Bribery Case by U.S. and French Authorities

By Joon H. Kim, Lisa Vicens, Abena Mainoo, Guillaume de Rancourt & Pekham Pal

June 7, 2018

On June 4, 2018, the U.S. Department of Justice announced that Société Générale S.A. (“Société Générale”) and its wholly-owned subsidiary, SGA Société Générale Acceptance, N.V. (“SGA”), have agreed to pay over $1 billion in total penalties to U.S. and French authorities in connection with bribe payments to Libyan officials and manipulation of the London Interbank Offered Rate (“LIBOR”). SGA pled guilty on June 5 to conspiracy to violate the U.S. Foreign Corrupt Practices Act’s (“FCPA”)…

Abena Mainoo

Priorities, Trends and Developments in Enforcement and Compliance

Priorities, Trends and Developments in Enforcement and Compliance

OFAC Takes Aggressive Enforcement Action in Connection With M&A Transactions and Spells Out Compliance Expectations

Tenth Circuit Affirms Ruling Allowing SEC to Bring Securities Fraud Claims Over Certain Foreign Transactions

Tenth Circuit Affirms Ruling Allowing SEC to Bring Securities Fraud Claims Over Certain Foreign Transactions

DOJ Remarks Highlight Changes to White Collar Policy

Sanofi Settles FCPA Charges With SEC for $25.2 Million

Legg Mason Settles FCPA Charge with SEC for $34.5 Million

Recent District Court Decision on Applicability of FOIA to Siemens FCPA Monitorship Documents Provides Guidance on Scope of Possible Disclosures

Société Générale Enters Into First Coordinated Resolution of Foreign Bribery Case by U.S. and French Authorities

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