DOJ to Press Companies to ‘Own Up' for Misconduct, Monaco Says [Business News Network (BNN) (Canada)]
GLENCORE PLC UNSP/ADR (GLNCY)
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Source: Business News Network
any kind of leniency from prosecution by the Justice Department, Deputy Attorney General Lisa Monaco said. The Justice Department is implementing new policies to crack down on corporate crime in a bid to help companies have “predictability” when it comes to what kind of compliance and disclosure programs they should have, Monaco said Friday on Bloomberg Television's “Balance of Power With David Westin.” “This is about being very, very clear,” Monaco said. “We want companies to have in place a program that allows them to detect misconduct. Their program needs to be designed to be able to detect it and detect it early.” Monaco announced the policy Thursday following a yearlong review by an advisory group she created last fall. Under the changes, the department will allow more companies that voluntarily report misconduct to avoid pleading guilty and shift the focus to prosecuting executives by encouraging companies to claw back compensation from executives and employees responsib
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