Lisa Monaco on Voluntary Self Disclosures in Mergers & Acquisitions [Podcast]

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By Adam Turteltaub

On October 4, 2023 at the SCCE Compliance & Ethics Institute in Chicago, US Deputy Attorney General Lia A. Monaco spoke live from Washington to the attendees and used this opportunity to announce a new Safe Harbor Policy for voluntary self-disclosures made in the context of the merger and acquisition process.

Under the policy, acquiring companies that promptly disclose criminal misconduct voluntarily within the six-month safe harbor period, cooperate with investigators and engage in remediation, restitution and disgorgement will receive the presumption of a declination. She also explained that, absent aggravating factors at the acquired company, it will not impact the acquiring company’s ability to receive a declination.

She also shared how the Department of Justice has been fighting corporate crime including:

  • The expansion of corporate enforcement efforts in the national security realm
  • New tools DOJ is using to penalize corporate misconduct and provide invectives for good corporate citizenship
  • Areas where they see further opportunity for innovation and expansion

Listen in to learn more and hear her underscore the importance of compliance programs, proper corporate incentive plans, and the DOJ’s expectation that the compliance team will have a seat at the deal table.