Deputy Attorney General Rod Rosenstein Announces Revisions to Yates Memo

Sullivan & Cromwell LLP - November 30, 2018
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During a speech delivered Thursday at the International Conference on the Foreign Corrupt Practices Act (“FCPA”) in Oxon Hill, Maryland, Deputy Attorney General Rod Rosenstein announced revisions to certain of the Justice Manual’s corporate enforcement policies regarding individual accountability.  Those changes modify Department of Justice (“Department”) policies originally announced in a September 9, 2015 memorandum from then-Deputy Attorney General Sally Yate (the “Yates Memo”).  The principal impact of the modifications is to amend the approach set out in the Yates Memo that “[t]o be eligible for any cooperation credit, corporations must provide to the Department all relevant facts about the individuals involved in corporate misconduct.”  This policy was frequently considered to constitute binary arrangement, under which any cooperation credit required identification and disclosure of all participants and partial credit was unavailable or elusive.  The modified policy is intended to provide more flexibility and expedition in conducting criminal investigations and negotiating their resolutions.