What Will Really Change After the Yates Memo?

This article originally appeared in the National Law Journal and is reprinted with permission from the publication. Any opinions in this article are not those of Winston & Strawn or its clients. The opinions in this article are the author’s opinions only.

Last month, the U.S. Department of Justice’s deputy attorney general, Sally Yates, issued a memorandum announcing a shift in DOJ enforcement in corporate or financial fraud matters. The Yates Memorandum, entitled “Indi­vidual Accountability for Corporate Wrongdoing,” sent shockwaves through the corporate and white-collar community. But it left some to wonder whether the announcement, standing alone, really signals a significant change in DOJ enforcement.