The Department of Justice has released an updated corporate enforcement memorandum that materially revises the standards governing self-disclosure, cooperation credit, and the imposition of corporate compliance monitors. Companies and counsel should familiarise themselves with the new framework, particularly its presumption-of-declination provisions, the recalibrated mitigation framework, and the new criteria for monitor selection and duration.
Key takeaways: self-disclosure timing windows have tightened; cooperation credit now expressly requires extraterritorial production of certain documents; and the bar for avoiding a monitor has been recalibrated upwards. Companies under active investigation should review their cooperation posture in light of the new guidance.
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