Can an applicants former directors, officers, and employees be included in the scope of the conditional leniency letter?
The Corporate Leniency Policy does not refer to former directors, officers or employees, so the Division is under no obligation to grant leniency to those former representatives. However, the Division has the authority to agree not to prosecute former directors, officers and employees who come forward to cooperate and often reaches such agreements. It is therefore possible, and in many cases advisable, for the applicant to seek to include in the corporate conditional leniency letter protection for former directors, officers or employees or certain named former directors, officers, or employees on the same basis as current ones. The model letter provides optional language for the inclusion of former directors, officers or employees in paragraphs #2(c)-(f), #3, and #4. As noted in footnote 3 of the model corporate conditional leniency letter, whether the Division includes former directors, officers, or employees in the agreement depends on a number of factors, such as whether the applica
Related Questions
- If a corporate conditional leniency letter is revoked, what will happen to the protection provided in the letter for the corporations directors, officers, and employees?
- When can an applicant or its employees judicially challenge a Division decision to revoke conditional leniency?
- What are the conditions for leniency protection for the applicants directors, officers, and employees?
