Return to the Yates Memo: Deputy Attorney General Announces Tougher Approach to White Collar Enforcement
On October 28th, Deputy Attorney General Lisa Monaco announced that the Department of Justice is renewing its focus on white collar crime and enforcement, and highlighted three new initiatives aimed at achieving these ends:
- The Department will restore guidance adopted in 2015 – known as the “Yates Memo” – which requires that companies wishing to receive cooperation credit in DOJ investigations disclose all non-privileged information related to all individuals involved in corporate misconduct.
- In a diversion from current Department policy, Deputy Attorney General Monaco announced that DOJ will now consider all prior misconduct by a company when assessing the appropriate resolution to a criminal investigation.
- DOJ is empowering its prosecutors to require the appointment of independent monitors whenever necessary to show “that a company is living up to its compliance and disclosure obligations.”
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