Focus, Fairness, And Efficiency: A Closer Look At The DOJ’s “White Collar Enforcement Plan”
Earlier this week, the Department of Justice Criminal Division released various policy materials relevant to corporate enforcement.
Included in the materials was this memo to Criminal Division Personnel with a subject line “Focus, Fairness, and Efficiency in the Fight Against White-Collar Crime.”
The memo touches upon many issues long the focus of prior DOJ policy memos such as individual accountability, incentivizing voluntary disclosure and cooperation, the goal of efficient investigations, and the use of monitors.
The memo begins:
DOJ Criminal Division Announces “White-Collar Enforcement Plan”
For at least the past 20 years, the Department of Justice under all administrations has articulated various policies relevant to “white collar crime.”
The policies have all generally encouraged voluntary disclosure and cooperation with a pledge to treat business organizations that do those things less harshly than if the DOJ finds out about potential criminal activity through other ways.
The most recent example occurred yesterday in the form of this speech by Matthew Galeotti (Head of the DOJ Criminal Division) at a financial crime conference.
Galeotti began:
Acting Principal Deputy Assistant Attorney General Nicole Argentieri On ….
Yesterday Acting Principal Deputy Assistant Attorney General Nicole Argentieri delivered this speech at the annual FCPA dog and pony show.
Argentieri addressed four topics: (1) the DOJ “achievements this year in the fight against corruption and white collar crime; (2) how the DOJ is “actioning the recent corporate enforcement policies announced by the department — policies that built upon longstanding Criminal Division policies and practices in a space where the Criminal Division has long been a leader; (3) “the Criminal Division’s ongoing use of data analytics, and how we are expanding our use of data to enhance our FCPA enforcement efforts”; and (4) “an exciting new resource dedicated to deepening our international partnerships in key parts of the world that will enhance our ability to identify and prosecute foreign bribery offenses and allow us to generate new and impactful cases.”
Acting Assistant Attorney General Argentieri On …
Another day, another speech by a DOJ official.
Recently, Acting Assistant Attorney General Nicole Argentieri delivered this speech in which she discussed the following topics: foreign law enforcement cooperation, corporate cooperation, compensation incentives and clawbacks, voluntary disclosure, and the DOJ’s recent “safe harbor” policy in connection with merger and acquisition activity.
Regarding foreign law enforcement cooperation, Argentieri stated:
Glencore … In Its Own Words
As highlighted here, in May 2022 Glencore (a commodities company incorporated in the United Kingdom and headquartered in Switzerland) resolved a net $443 million FCPA enforcement action.
According to the DOJ: “From at least in or about 2007 up to and including in or about 2018, Glencore, through certain of its employees and agents, while acting on behalf of Glencore, together with its co-conspirators, knowingly and willfully conspired and agreed with others to corruptly provide more than $100 million in payments and other things of value to various intermediaries with the intent that a significant portion of these payments would be used to pay bribes to and for the benefit of foreign officials to secure an improper advantage and to influence those foreign officials in order to obtain or retain business in Nigeria, Cameroon, Ivory Coast, Equatorial Guinea, Brazil, Venezuela, and the Democratic Republic of Congo.”
A recent sentencing submission by Glencore makes for an interesting read.