Governance Implications of DOJ’s New Compliance Focus

By on August 13, 2015

The board of directors’ audit committee agenda just got quite a bit busier, thanks to a new U.S. Department of Justice staffing decision.

On July 30, Fraud Section Chief Andrew Weissman disclosed the DOJ’s decision to create the position of “compliance counsel,” the specific role of which will be to help determine whether corporations subject to DOJ investigation have maintained a good faith compliance program. The DOJ’s Principles of Federal Prosecution of Business Organizations (a/k/a the “Filip Guidelines”) make it clear that the existence and effectiveness of a corporation’s pre-existing compliance program is a factor DOJ will take into consideration when making a prosecution decision. This perspective has been underscored in a series of recent public speeches by DOJ Criminal Division officials.

Read the full article in Corporate Counsel.

Michael W. Peregrine
Michael W. Peregrine represents corporations (and their officers and directors) in connection with governance, corporate structure, fiduciary duties, officer-director liability issues, charitable trust law and corporate alliances. Michael is recognized as one of the leading national practitioners in corporate governance law. Read Michael W. Peregrine's full bio.