by Jacquelyn M. Kasulis, Zachary S. Brez, Nick Niles, Meghan Dolan, Grace Zhu, Shruti Chandhok, Brian Benczkowski, Mark Filip, John Lausch, Kim B. Nemirow, Marcus Thompson, Asheesh Goel, Cori A. Lable, Erin Nealy Cox, and David Weiner
Top left to right: Jacquelyn M. Kasulis, Zachary S. Brez, Nick Niles, Meghan Dolan, and Grace Zhu.
Middle left to right: Brian Benczkowski, Mark Filip, John Lausch, Kim B. Nemirow, and Marcus Thompson.
Bottom left to right: Asheesh Goel, Cori A. Lable, Erin Nealy Cox, and David Weiner.
Not pictured: Shruti Chandhok.
(Photos courtesy of Kirkland & Ellis LLP)
Overview
Deputy Attorney General Lisa Monaco recently announced that the Department of Justice has adopted a new Mergers & Acquisitions Safe Harbor Policy, in remarks delivered at the Society of Corporate Compliance and Ethics’ 22nd Annual Compliance & Ethics Institute on October 4, 2023. Under the Safe Harbor Policy, acquiring companies will receive a presumption of declination of prosecution if they: (1) promptly and voluntarily disclose criminal misconduct within six months from closing of an acquisition, (2) cooperate with the DOJ’s investigation and (3) engage in timely and appropriate remediation, restitution and disgorgement. The Safe Harbor Policy, which will be applied department-wide, is a continuation of the DOJ’s efforts to incentivize voluntary self-disclosure and encourage companies to prioritize compliance.