An earthquake in the world of Foreign Corrupt Practices Act enforcement occurred in September, and it relates to the Justice Department’s now stated goal of pursuing culpable individuals rather than simply settling with corporations that pay large fines for misconduct. It was announced by Deputy Attorney General Sally Yates in a speech to the New York University School of Law titled, “New Policy on Individual Liability in Matters of Corporate Wrongdoing.” At the same time the Justice Department released a memo titled “Individual Accountability for Corporate Wrongdoing” (the “Yates Memo”) laying out the parameters of the new policy.
