Last fall, Deputy Attorney General Lisa Monaco announced significant changes to Department of Justice policies on corporate criminal enforcement, including the use of monitors, review of prior misconduct, and cooperation. As Monaco stated, "This is a start -- and not the end -- of this administration's actions to better combat corporate crime." These changes and the Administration's formation of a Corporate Crime Advisory Group signal a shift in DOJ's commitment to ferreting out corporate crimes and more rigorous enforcement activities. The U.S. Securities and Exchange Commission (SEC) has announced its own intention to conduct faster investigations, bring bigger cases, and to seek harsher penalties. In his first speech on enforcement, SEC Chairman Gary Gensler quoted the agency's first Chair, Joseph Kennedy, to summarize his own agenda: "The Commission will make war without quarter on any who sells securities by fraud or misrepresentation." Chairman of the Commodity Futures Trading Commission (CFTC), Rostin Behnam, has also requested that Congress expand the CFTC's enforcement powers and professed the agency's readiness to serve as the "primary cop on the beat" for cryptocurrency markets.
Former DOJ prosecutor Luke Cass and Britt Biles, who held former senior legal roles at the SEC, the White House, and the U.S. Small Business Administration will explain these policy shifts and discuss the risks for corporate America under this new era, additional priority enforcement areas for the Administration, and what these new policies mean for the future of corporate compliance.
- Luke Cass, Partner, Womble Bond Dickinson
- Britt Biles, Partner, Womble Bond Dickinson
- Moderator: Nicholas Marr, Assistant Director, Practice Groups, The Federalist Society
As always, the Federalist Society takes no position on particular legal or public policy issues; all expressions of opinion are those of the speaker.