The DOJ and SEC's guide covered ten principal hallmarks, including among others, 'oversight, autonomy and resources', 'incentives and disciplinary measures', and 'confidential reporting and internal investigation'.
While the guidelines are not legally binding, they set out the US government's expectations and the standards the DOJ and SEC use when considering business' compliance programmes during criminal, civil and regulatory enforcement actions.
However, despite the aim of the Biden presidency to tackle corporate crime more aggressively, DAG Monaco acknowledged that the DOJ's current enforcement record falls short of expectations.
In fact, the figures are alarming. According to stats gathered by career experts, Zippia, white-collar prosecutions make up just 3% of federal prosecutions and are down by over 50% compared to 2011. Estimates also suggest that 90% of white-collar crimes go unreported.