On October 4, 2023, Deputy Attorney General Lisa Monaco announced that the US Department
of Justice (DOJ) adopted a new safe harbor policy for voluntary self-disclosures made in
connection with mergers and acquisitions (M&A). Under the new policy, acquiring companies
that (a) promptly and voluntarily disclose criminal misconduct; (b) cooperate with the DOJ’s
ensuing investigation; and (c) engage in “timely and appropriate remediation, restitution, and
disgorgement,” will receive the presumption of a declination (i.e., a decision by DOJ not to
prosecute the alleged misconduct).
