On Oct. 4, 2023, Deputy Attorney General Lisa Monaco announced a new safe harbor policy for merger and acquisition (M&A) transactions. Under the new safe harbor, acquiring companies that promptly and voluntarily disclose criminal misconduct discovered at the target company to the U.S. Department of Justice (DOJ) within a certain time period, cooperate with the ensuing investigation, and engage in timely remediation, restitution, and disgorgement will receive the presumption of a declination (i.e., the DOJ will not prosecute the company). The policy applies to all DOJ components engaged in corporate criminal enforcement.
