In the past decade, the Department of Justice’s Criminal Division (DOJ) has leveraged its use of corporate monitorship against companies to achieve several goals: to deter companies from wrongdoing through the threat of costly oversight, to incapacitate a company from further wrongdoing, and to reform a company’s internal compliance mechanisms.1 To preface, corporate monitorships are…
Tag: Corporate Compliance
In SEC’s Whistleblower Program, Will Confidentiality Prove Counterproductive?
Early last month, in a heavily censored report, the U.S. Securities and Exchange Commission (SEC) publicly announced an award of roughly half a million dollars to [redacted], who reported original information about [redacted] that occurred at [redacted] over the course of [redacted].1 Needless to say, the entire case remains shrouded in mystery. Moreover, this announcement came just months…
Ramping Up Corporate Compliance
Corporate compliance has become an increasingly prominent area of law. The regulatory state has grown to unprecedented heights creating more regulations, which in turn has led to more violations, and higher corporate costs. For example, in 2013, J.P. Morgan agreed to a settlement with the Justice Department for a staggering $13 billion for various regulatory…