The DOJ’s New Officially Unofficial Policy May Enable Federally Regulated Business to Avoid Criminal ChargesOn March 8, 2018 by Schnader in Client Alerts
Last November, Deputy Attorney General Rod Rosenstein announced a new enforcement policy. Under the new policy, businesses subject to the Foreign Corrupt Practices Act (“FCPA”) may avoid criminal liability by self-reporting wrongdoing, fully cooperating with Department of Justice (“DOJ”) investigations, and demonstrating timely and appropriate remediation of the conduct at issue. United States Attorneys’ Manual (“USAM”) Insert § 9-47.120.
Last week, the DOJ unofficially extended this new policy to other federal regulations. More specifically, John Cronan, the acting head of the DOJ’s Criminal Division, and Benjamin Singer, chief of the DOJ’s securities and fraud unit, stated that the DOJ would be extending this policy to “other contexts.” Cronan and Singer told attendees of the American Bar Association’s white collar conference that Barclays Bank PLC (“Barclays”) would be the first beneficiary of this extension of the new policy beyond the FCPA.
UPDATE: Laurel Brandstetter comments about the new DOJ policy and was quoted in “Corporate Lawyers Like New DOJ Enforcement Policy, But Seek More Clarity,” published in Corporate Counsel on March 7, 2018.