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What New Rules for Compliance Monitors Really Mean

Melissa Klein Aguilar | April 1, 2008

Take it as proof of how pervasive compliance monitors have become in corporate criminal settlements: They now come with their own guidelines, in the form of a Justice Department memo.

Craig Morford, acting deputy attorney general until last month, issued the guidelines on selection of compliance monitors March 7. The rules come amid concerns over transparency and possible conflicts of interest in the selection of monitors. The issue came into sharp relief last year when Christopher Christie, the U.S. attorney for New Jersey, approved a $52 million contract for his former boss (and former Attorney General) John Ashcroft to be compliance monitor at medical device company Zimmer Holdings for all of 18 months. Lawmakers questioned Ashcroft and others about the arrangement at a Congressional hearing on March 11, shortly after the guidelines were issued.

Compliance monitors cropped up occasionally in the 1990s as part... To get the full story, subscribe now.