The Yates Memo and the Evolving FCPA Enforcement Paradigm: Implications for the Prosecution of Corporate Wrongdoers
Following the issuance of the U.S. Department of Justice’s ‘Individual Accountability Policy’ (also known as the Yates Memorandum), serious debates and discussions over its possible implications for the prosecution of corporate wrongdoers have come into play. The Yates Memo, which demonstrates DOJ's increased effort to hold individuals accountable for corporate wrongdoing, also instructs that "to be eligible for any cooperation credit, corporations must provide to the [DOJ] all relevant facts about the individuals involved in corporate misconduct." This requirement will likely have negative implications for companies and will affect the ever changing FCPA enforcement paradigm. To avoid possible legal risks and liabilities, it is important for corporate executives and officers to monitor Yates Memo developments.
In this two-hour LIVE Webcast, a panel of distinguished professionals and thought leaders organized by The Knowledge Group will help the audience understand the important aspects of the Yates Memo and the Evolving FCPA Enforcement Paradigm. They will provide an in-depth discussion of this significant topic. Speakers will also offer best practices in developing and implementing effective risk mitigation strategies while ensuring compliance with FCPA laws.
Key topics include:
- The Yates Memorandum - An Overview
- Significance of the DOJ's Individual Accountability Policy
- Possible Implications on the FCPA Enforcement
- Compliance Requirements and Challenges
- Best Risk Mitigation Strategies
Wilmer Cutler Pickering Hale and Dorr
Ernst & Young LLP
Latham & Watkins LLP
Hewlett Packard Enterprise
- Yates Memo - An Overview
- Key Principles
- Trends in DOJ Enforcement
- Trends in SEC Enforcement
- Roles of Whistleblower
- Practical Impact on Corporations
- Potential Complications
- Yates Reinforcement: DOJ Fraud Section Pilot Program
- DOJ Fraud Section Pilot Program
- Key caveats
- Definition of an effective compliance program
- The Yates Memorandum and Compliance
Justin Goodyear focuses his practice on white collar enforcement, internal investigations, and other litigation matters. His background as a prosecutor of securities fraud and FCPA cases enables him to assist clients with responding to government investigations, preparing for litigation, and developing policies and training programs to enhance compliance. His recent engagements include representing a U.S. financial services company with an insider trading investigation and representing a European investment firm with an FCPA investigation. From 2010 to 2015 Mr. Goodyear was a trial attorney in the Securities and FCPA Units of the Fraud Section of the US Department of Justice (DOJ). During that time he led multiple global investigations into possible FCPA violations by major companies; oversaw a securities fraud investigation into a broker-dealer that resulted in a guilty plea and a multi-million dollar resolution; and investigated matters related to insider trading violations and stock market price manipulation.
Justin Goodyear focuses his practice on white collar enforcement, internal investigations, and other litigation matters. His background as a prosecutor …
Steve has over 14 years of professional experience that includes investigating complex criminal and civil matters, evaluating and implementing compliance programs, and reviewing and revising corporate internal controls. Steve’s experience stems from his time as a federal prosecutor with the United States Department of Justice’s Criminal Division, Fraud Section, FCPA Unit; Principal Investigations Counsel of a Fortune 30 company; in private law practice at a multinational law firm; and at EY.
Steve has investigated business conducted in over 40 countries, including allegations relating to alleged violations of laws governing transnational bribery and corruption (including the Foreign Corrupt Practices Act); money laundering; revenue recognition; false claims; antitrust; the sale of securities; and mail and wire fraud. Steve’s experience also spans a substantial number of industries, such as technology and aviation; financial services; natural resource exploitation, including oil and gas, iron mining, and drilling services; health, life sciences, and medical device manufacturing; and government and defense contracting.
Steve gained extensive transnational investigative experience during four years as an attorney in the Foreign Corrupt Practices Act Unit of the Fraud Section at the United States Department of Justice (Criminal Division). While there, Steve was lead prosecutor in a number of high-profile matters. Among them was the prosecution of a managing director of Morgan Stanley for circumventing Morgan Stanley’s internal controls — a matter in which the government declined to prosecute Morgan Stanley, based upon the quality of Morgan Stanley’s internal controls and compliance program. Steve also led the first FCPA investigation to use a court-sanctioned wiretap. Steve built upon his government experience as Principal Investigations Counsel in the Compliance Department of IBM, where he was responsible for overseeing investigations around the world.
Steve has over 14 years of professional experience that includes investigating complex criminal and civil matters, evaluating and implementing compliance …
Douglas Yatter is a partner in the New York office of Latham & Watkins and a member of the firm’s White Collar Defense & Investigations Practice and its Financial Institutions and Energy – Oil & Gas Industry Groups. His practice focuses on advising clients across the financial services industry and the energy sector in government and internal investigations, litigation, and regulatory matters. He has advised major corporations, boards of directors, and individuals in significant market abuse, FCPA, and financial fraud matters. He has also represented defendants and plaintiffs in all phases of complex civil litigation.
Mr. Yatter previously served for nearly five years in the Division of Enforcement of the US Commodity Futures Trading Commission, first as Trial Attorney and then as Chief Trial Attorney. At the CFTC, Mr. Yatter conducted and supervised investigations and litigation involving fraud, manipulation, insider trading, disruptive practices, and a range of other issues. During his tenure, he was a leader of two of the CFTC’s highest profile enforcement matters, including the ISDAFIX interest rate benchmark investigation and the investigation of the shortfall in customer funds at MF Global Inc. His work addressed swaps, futures, and other derivatives across various markets, often in coordination with the Department of Justice, the SEC, and other domestic and international authorities.
Mr. Yatter serves as a member of the Advisory Board of the Program on Corporate Compliance and Enforcement at New York University School of Law.
Douglas Yatter is a partner in the New York office of Latham & Watkins and a member of the firm’s …
Glenn S. Leon is Senior Vice President and Chief Ethics and Compliance Officer for Hewlett Packard Enterprise. He oversees the strategy and implementation of HPE’s ethics and compliance program, which includes ethical decision making based on HPE’s Standards of Business Conduct and both internal and external investigations. His team is also responsible for social and environmental sustainability and compliance, privacy, and the HPE Foundation.
Prior to joining HPE, Mr. Leon was a Deputy Chief of the Fraud Section of the Criminal Division at the U.S. Department of Justice, where he led investigations involving allegations of securities fraud, FCPA violations, bank and mortgage fraud, and money laundering. Prior to that, he worked for twelve years as an Assistant U.S. Attorney for the District of Columbia, investigating and prosecuting white collar, organized crime, and homicide cases. Before that, he was in private practice as a litigation associate at two national law firms.
Mr. Leon earned his J.D. from New York University School of Law, and graduated from Brandeis University, magna cum laude, with a degree in Economics.
Mr. Leon’s current office location is Herndon, Virginia.
Glenn S. Leon is Senior Vice President and Chief Ethics and Compliance Officer for Hewlett Packard Enterprise. He oversees the …
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Method of Presentation:
Experience in corporate or white collar criminal law
NASBA Field of Study:
Business Law - Technical
NY Category of CLE Credit:
Areas of Professional Practice
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