Jurisdiction(s):
United Kingdom

US white-collar enforcement 2023: voluntary self-disclosure incentives, policies on ephemeral messaging and personal devices, and crypto prosecutions and regulatory actions - key takeaways and 2024 outlook for UK practitioners

Published on: 02 January 2024

Published by a Law360 reporter

Legal News

Article summary

In 2023, the US Government stepped up its bid to persuade corporates that swiftly flagging internal misconduct is the wisest course—perhaps overly swift, some white-collar criminal defence practitioners argue. Early in the year, the US DOJ unveiled fresh guidance on the business use of ephemeral messaging platforms, mobile phones and other personal devices, yet knotty issues remain over what that policy will mean as 2024 approaches. The department also pressed on with its assault on the crypto sector, closing the year with a pair of headline-grabbing wins. What follows is an overview of how the US DOJ advanced its priorities, aims and enforcement activity through 2023, what it chose to emphasise, and what may lie ahead. It sets clear expectations for the year ahead.

Self-disclosure

A frontrunner for 2023’s white-collar buzzword is ‘self-disclosure’, as the US Government intensified its continuing campaign to nudge companies away from reluctance about voluntarily revealing suspected wrongdoing. To bolster that drive—and to demonstrate the policy’s yield—the DOJ showcased matters in which businesses gained credit for own-reporting, co-operating with the US Government and taking proactive measures to deter future misconduct—signalling the benefits on offer for early engagement...

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