The following is an excerpt from Practice Perspectives: Vault's Guide to Legal Practice Areas.
Lisa Vicens regularly represents public companies and their boards in internal and governmental investigations, in particular with respect to anti-bribery and corruption and other cross-border issues. She frequently advises on the development of compliance and integrity programs and counsels clients in advance of strategic transactions. Lisa also represents clients in complex litigation matters arising from cross-border disputes. Her litigation practice includes many notable securities actions and high-profile civil cases. She also has an active criminal pro bono practice.
Lisa frequently works on matters in Latin America, particularly enforcement matters involving clients in the region. She has been recognized by Chambers USA for FCPA and The Legal 500 Latin America for Compliance and Investigations, and named among Latinvex’s Top 100 Female Lawyers in Latin America and Global Investigations Review’s Top 100 Women in Investigations. Lisa joined the firm in 2005 and became a partner in 2015.
Describe your practice area and what it entails.
I am a partner in the White Collar Defense & Investigations practice at Cleary. In that role, I regularly represent public companies and their boards in internal and governmental investigations, in particular with respect to accounting fraud, the Foreign Corrupt Practices Act (FCPA), and other cross-border issues. I also frequently advise companies on the development of compliance and integrity programs and counsel clients in advance of strategic transactions, such as M&A transactions. White collar matters can often result in parallel litigation proceedings, and my practice also includes complex litigation often arising out of enforcement matters. Finally, I have an active criminal pro bono practice.
What types of clients do you represent?
I frequently work on matters in Latin America, particularly enforcement matters involving clients in the region. Over the last five years, I have spent a good amount of time working on investigations and representations arising out of the Lava Jato bribery scandal in Brazil.
What types of cases/deals do you work on?
I have advised clients on a wide range of matters involving allegations of corruption and internal controls violations, including, for example, Petrobras, the Brazil state-owned oil entity, and BNDES, the Brazilian national development bank, and GOL. These matters can take the form of conducting independent investigations for Boards of Directors of companies, representing companies and individuals before U.S. criminal and regulatory authorities, or representing companies and individuals in parallel litigation.
How did you choose this practice area?
I knew that I wanted to work at a law firm with a strong cross-border practice, particularly involving countries that are based or operate in Latin America. I received my Masters degree in Latin American studies and have always had a strong interest in working at a firm that reflected my international interests. I am also Puerto Rican and have a cultural affinity for and interest in the region. When I spent my summer at Cleary in 2004, I really loved the Latin America practice group work that I did, but I also very much enjoyed the experience of working on an investigation by U.S. authorities of one of our financial institution clients. Sarbanes-Oxley had been enacted in 2002 and in the wake of Enron and other corporate scandals, working on large corporate investigations was exciting and interesting work. When I returned to Cleary after graduation, I was fortunate to be at a firm that allowed me to pursue both of my interests—working on enforcement matters involving international clients, with a particular focus on Latin American clients.
What is a typical day like and/or what are some common tasks you perform?
I am sure most law firm partners who respond to this question will tell you there is no such thing as a typical day, and that is partly what is so exciting about our work. The common tasks that I perform will vary based on the matter that I am working on. At the outset of an investigation, I might be advising my client on crisis management, conducting interviews, or gathering relevant information. At its conclusion, I might be making presentations to its Board of Directors or self-reporting to governmental authorities. In the context of a governmental investigation, I may be responding to requests from the authorities or negotiating a resolution on my client’s behalf. On any given day, I am likely fielding questions from clients on various issues, including developments in the laws, in the context of a strategic transaction, or on their potential liability based on an issue that has arisen.
What training, classes, experience, or skills development would you recommend to someone who wishes to enter your practice area?
Developing a deep understanding of the FCPA and compliance and securities laws has been very helpful for me in my practice area. My clients also appreciate my strong understanding of Latin America and the geopolitical issues that companies operating in developing countries may face, as well as my local language skills. Although not necessary, working on FCPA issues within the government is also very helpful, whether at the Department of Justice or the SEC—the two U.S. authorities with jurisdiction to enforce the FCPA.
What do you like best about your practice area?
There are so many aspects of my practice that I love. At an early stage, I am often helping my clients manage a crisis by getting their arms around the facts, informing the appropriate stakeholders, and ensuring that they are taking the right steps to address a situation. Helping a client navigate a bet-the-company type of situation and come out the other side in a better place is extremely rewarding. It is this love for problem-solving that also drives my interest in conducting investigations and putting the pieces of a puzzle together. I also love the opportunity that conducting an internal investigation can provide in learning about an industry and getting to meet the interesting people who work for my clients.
What is unique about your practice area at your firm?
I truly feel fortunate to do the work that I do at Cleary Gottlieb. There are a couple of things that I believe set us apart. First, we combine a strong international practice with a deep bench of white collar practitioners. What that means is that we have relationships with a wide range of international clients, including state-owned entities and foreign private issuers. Their confidence in our white collar bar provides us with the unique opportunity to represent our clients in complex, cross-border investigations. Second, we take a very collaborative approach on the work that we do for our clients. When we are helping our clients manage a crisis and the many issues that can arise from that—including corporate governance, regulatory, criminal, and litigation issues—we do so seamlessly, providing our clients with a coordinated and unified approach. That also makes practicing at Cleary a lot more fun—you work closely with your colleagues to deliver the best advice to clients.
How do you see this practice area evolving in the future?
My practice has only grown more complex and active as time has gone by, and I expect this to continue. Technology has made conducting investigations much more sophisticated, while cross-border cooperation between authorities and the globalization of the world economy has meant more multilateral investigations. Investors, in turn, are demanding more transparency and social responsibility on the part of corporations.
In what ways has the coronavirus pandemic affected your practice? How have you adjusted to lawyering in the wake of COVID-19?
There is no question that the pandemic has affected my practice in different ways. I believe it has been an adjustment, but one that is not without its benefits. Conducting investigations remotely, including collecting evidence and interviewing witnesses and assessing their credibility, was not without its challenges at the outset of the pandemic. However, I am proud of the investigative work that we performed during the pandemic and the results we were able to achieve. I also appreciate the flexibility remote work has provided in terms of seeing my clients and “meeting” them more often. Finally, I also like the additional flexibility it has provided to the associates that I work with and the increased opportunities for them to participate in meetings with clients and governmental authorities.