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US Prosecutors to Credit Companies for Self-Reporting

US Prosecutors to Credit Companies for Self-Reporting

by Starling Insights

Starling Insights Editorial Board


Last month, US Attorneys Damian Williams and Breon Peace (Manhattan and Brooklyn, respectively), announced a new policy to show greater leniency to companies that self-report misconduct.

Effective immediately, rather than waiting for misconduct to be reported by whistleblowers or discovered by prosecutors, companies that voluntarily disclose wrongdoing will benefit from reduced financial penalties and may avoid prosecution entirely. 

This policy comes in response to a memo issued by Deputy Attorney General Lisa Monaco in September, which ordered all branches of the US Department of Justice that prosecute white-collar crime to develop policies motivating self-disclosure. 

Self-reporting may not absolve firms of blame completely, however. Federal prosecutors may still seek a guilty plea if the conduct is widespread, involves current executives, or threatens national security, health, or the environment. The DOJ has also signaled intent to hold executives personally accountable in such instances.

Starling recently published “The Era of Accountability,” a Deeper Dive supplement to our 2022 Compendium, which discusses the global push from regulators, politicians, investors, employees, and the public to hold corporate leaders accountable for the (mis-) management of culture and conduct risks. This Deeper Dive is only available here on Starling Insights.

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