It might be said that there is a little something for everyone in the latest DOJ revisions to its corporate enforcement policies. Deterrents, incentives and, perhaps, an added measure of fairness are embedded in provisions like those addressing clawbacks and compensation systems as well as monitorships. “No one should have a financial interest to look the other way or ignore red flags,” Monaco said in a September 15 speech made on the same day that her revised memo was issued. At the same time, the DOJ appears to acknowledge that some aspects of its own methods of doing business, including the selection and operation of monitors, could be improved. This is the third of the Cybersecurity Law Report’s series on Monaco’s speech and the Revised Monaco Memo. The first installment
addressed the highlights of the new policy, and the second
focused on the impact on deal making and strategy. See “Privacy and Security Regulators Discuss New Enforcement Proposals and Compliance Best Practices
” (Jun. 15, 2022).