Eliel Flores is an associate at Mayer Brown's Washington DC office and a member of the Financial Services Regulatory & Enforcement practice. Eliel has significant experience representing global financial institutions in cross-border enforcement proceedings relating to money laundering, US economic (OFAC) sanctions issues and tax evasion. He is experienced in investigations, with a focus on cross-border, financial regulatory and compliance investigations.
Eliel has worked onsite in locations including Argentina, the UK, Switzerland and the Caribbean, representing major Canadian, French, Spanish, Swiss and UK financial institutions, and their local subsidiaries, subject to or anticipating investigations or inquiries by the Department of Justice (DOJ), the Federal Reserve Board (FRB), or other US regulators.
Between 2017-2021, Eliel was seconded to the firm’s London office, where he advised a leading international bank on a global regulatory investigation arising out of a deferred prosecution agreement relating to financial crime risk and compliance. In that role, he advised the financial institution on a global regulatory investigation conducted by the bank’s independent skilled person and arising out of a deferred prosecution agreement relating to financial crime risk and compliance. In addition, he played a leading role in a review of the financial institution’s AML and sanctions compliance programs.
Eliel has advised clients on their implementation of the Foreign Account Tax Compliance Act (FATCA) and on compliance with the Program for Non-Prosecution Agreements or Non-Target Letters for Swiss Banks (the Swiss Program) administered by the DOJ. He has played a leading role in related internal investigations at major financial institutions, including reviewing and supervising review of US-related accounts, interviewing bank executives and relationship managers, meeting with management to discuss policies, and advising client banks on how to pursue appropriate remediation measures. As a fluent Spanish speaker Eliel had first chair responsibility for material portions of one of the investigations mentioned above that involved a Spanish bank. He also prepared detailed reports and presentations for the DOJ and met with the DOJ (Tax Division) to discuss settlement terms and to successfully negotiate final non-prosecution agreements.
In addition, Eliel represented a major global insurance company with all phases of trial preparation for a complex breach of contract litigation concerning the client's acquisition of a subsidiary in Mexico. This included analyzing the adequacy of Mexican insurance reserves and preparing detailed reports, as well as drafting interrogatory response.
Columbia University, BA
UCLA School of Law, JD
- District of Columbia