I. Introduction: Enforcement Trends and Priorities -

Among other significant developments, 2015 saw the U.S. Department of Justice (the “DOJ” or the “Department”) document a policy priority of holding individuals accountable for corporate wrongdoing. This policy was laid out in the “Yates Memorandum" —announced by Deputy Assistant Attorney General Sally Quillian Yates—and related changes the DOJ made to the U.S. Attorney’s Manual. The most significant aspect of the Yates Memorandum is the requirement that corporations turn over “all relevant facts relating to the individuals responsible for the misconduct” in order to be eligible for any cooperation credit. This requirement creates questions about how the DOJ will deal with aspects of attorney client privilege law and foreign blocking statutes that intersect with the “all relevant facts” requirement.