This will only last until Trump gets back in office in 2024.White collar prosecutions fell to an all-time low during Trump's administration, according to data compiled by Syracuse University. Even before then, the Justice Department was criticized for failing to hold Wall Street executives accountable for the 2007-2009 financial crisis.
The department will require companies to name all people involved in misconduct in order to receive credit for cooperation, as opposed to the previous policy under which companies provided names of people deemed to have been "substantially involved," [Deputy Attorney General Lisa] Monaco said.
The department also will require prosecutors to consider a company's full criminal, civil and regulatory record when considering how to resolve an investigation into wrongdoing, Monaco said. Previously the department focused primarily on similar types of misconduct when weighing a settlement.
[...]
The department also will reverse its shift away from requiring corporate monitors, Monaco said. The use of these independent firms, which tend to be costly for companies, fell out of favor during the Trump administration.
It also will embed a new squad of FBI agents within the department's Criminal Fraud section, which is tasked with pursuing economic crimes, Monaco added.
Reuters
Saturday, October 30, 2021
About time
Labels:
corporations,
DOJ,
white collar crime
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