Last month, I considered the effects of the Securities and Exchange Commission’s whistleblower program and how it has transformed the dynamics of SEC investigations and enforcement in Foreign Corrupt Practices Act cases. With the now one-year-plus run of the Yates Memo and its incorporation of the memo into the superstructure of the Justice Department’s FCPA Enforcement Pilot Program, it seems to me that these two initiatives have now formally changed the nature of investigations and enforcement of FCPA violations.
