In a significant development, US Deputy Attorney General, Lisa Monaco, announced a new ‘Safe Harbor Policy’ at the Society of Corporate Compliance and Ethics’ Compliance & Ethics Institute in Chicago on October 4, 2023. Learn more here
Monaco used the opportunity to inform attendees about the policy, which focuses on voluntary self-disclosures in the context of the merger and acquisition process. This was announced live from Washington, outlining how the policy would work for acquiring companies willing to disclose criminal misconduct voluntarily during the acquisition process.
While the full details of Monaco’s speech are not publicly available, the fundamental premise of this newly announced policy aims to encourage transparency and, ultimately, ethical business practices. By offering a form of leniency to companies who self-report illicit activity swiftly, this could potentially shift the groundwork in how mergers and acquisitions are conducted in the future.
This announcement has sparked broad interest and lively discussion, particularly among legal professionals working in corporate law and compliance. As US Deputy Attorney General, Monaco’s declaration undoubtedly carries significant weight and will surely influence upcoming merger and acquisition activities.
For more detailed coverage and updates on this development, consider accessing the full recording of the announcement or seeking the related official documents that delve into the specifics of the policy. For legal professionals, especially those directly involved in mergers and acquisitions, understanding this ‘Safe Harbor Policy’ is crucial.
Given the Deputy Attorney General’s role in enforcing the law and her position on ethical business practices, companies may need to recalibrate their approach to merger and acquisition activities. Transparency and swift self-disclosure might well become a new norm in this arena.