The “Yates Memo” – Nine Years Later
As highlighted in this prior post, in September 2015 then DOJ Deputy Attorney General Sally Yates delivered this speech and released this memo titled “Individual Accountability for Corporate Wrongdoing. (See here for the video of the speech). Like certain other prior DOJ policy memos, the memo took the name of the author and quickly became known as the “Yates Memo.”
The Yates Memo attracted substantial press, particularly the portion of the memo and associated speech that focused on individual liability for alleged corporate wrongdoing. (For instance, this post highlighted what others were saying about the Yates Memo).
Let’s Analyze This For A Bit
This recent Wall Street Journal article titled “DOJ Uncovering More Misconduct Through Self-Disclosure Program, Says Top Official” begins:
“More companies are choosing to voluntarily disclose misconduct to prosecutors after a policy revision last year that increased the potential benefits of doing so, a top Justice Department official said.
Thoughts On Recent DOJ Speeches
Reading speeches by high-ranking DOJ officials through the lens of a specific law is interesting.
For instance, in recent speeches both Deputy Attorney General Lisa Monaco and Acting Assistant Attorney General Nicole Argentieri talked about the importance of individual accountability.
Monaco stated that the DOJ’s “first priority has been — and will continue to be — individual accountability. Companies can only act through individuals. The rule of law demands that those most culpable for a company’s misconduct are the ones being charged, prosecuted, and convicted.”
Likewise, Argentieri stated “companies act only through people, and so, above all, our number one goal is holding culpable individuals accountable — including corporate executives, no matter how prominent or influential.”
Acting Assistant Attorney General Nicole Argentieri On ….
Once again, life follows a certain cycle.
March.
Lots of basketball, the days get longer, and a high-ranking DOJ official speaks at a white-collar crime conference.
First, it was Deputy Attorney General Lisa Monaco (see here for the prior post). The next day it was Acting Assistant Attorney General Nicole Argentieri at the same conference.
Argentieri framed her speech as a discussion of the “Criminal Division’s unyielding efforts to combat white collar crime” and she discussed the following topics: individual accountability, DOJ corporate enforcement policies, the DOJ’s new forthcoming whistleblower program, and the recently enacted Foreign Extortion Prevention Act.
Deputy Attorney General Lisa Monaco On ….
Life follows a certain cycle.
March.
Lots of basketball, the days get longer, and a high-ranking DOJ official speaks at a white-collar crime conference.
So it was as Deputy Attorney General Lisa Monaco delivered this speech at the American Bar Association’s National Institute on White Collar Crime.
Monaco framed her speech as providing “an update on [the DOJ’s] efforts and tell[ing] you what’s top of mind as we confront today’s corporate enforcement landscape.”
She discussed the following topics: individual accountability, recidivism, and incentives (including a new DOJ whistleblower pilot program).