The Department of Justice announced tougher plans to reduce white-collar crime. Residents of Grand Rapids and other nearby areas of Michigan may want to learn more about this new policy change, which was first announced in October of 2021. Corporate misconduct is high on the list of offenses.
According to Politico, the new policy takes aim at boardrooms and executive suites, and it affects corporate culture by holding individuals responsible. The policy intends to target people who often evade compliance.
Shareholders will see accountability
Although there may be costs involved, the policy emphasizes corporate responsibility. A sense of accountability and compliance will be the goal as the Justice Department will take action against wrongdoing.
Change in policy
One major change is no longer giving credit for cooperation in identifying employees involved in misconduct. Corporations will now have to identify all employees who took part in the misconduct, regardless of their position in the company. Status, seniority or position will no longer be important in identification when white-collar crimes are the issue.
Company executives may be the target
Although this may present a challenge, the DOJ will continue to prosecute and hold executives accountable. The DOJ will not tolerate criminal misconduct, so those who have been accused need to be prepared.
Full range of company actions
Deferred prosecution agreements and non-prosecution agreements may no longer be in force. Outside monitors may also be of help to the DOJ in this more aggressive stance to white-collar crimes.
The promise of the Department of Justice is that all individuals, no matter what position, will be held accountable for criminal behavior. How this policy will actually be carried out remains to be seen.