The Foreign Corrupt Practices Act world changed last week, and I am not certain it was for the better. In a speech at New York University School of Law, Deputy Attorney General Sally Yates announced a new Justice Department policy on individual liability in matters of corporate wrongdoing. These remarks coincided with release of an internal Justice Department Memo from Yates (the “Yates Memo”) titled, “Individual Accountability for Corporate Wrongdoing.” While the change did not relate to enforcement solely or even primarily to FCPA, I think it will mean a sea change for compliance practitioners going forward.
