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Justice Department Revises Corporate Prosecution Guidelines

By Matt Squire

CORRECTION APPENDED The U.S. Justice Department revised guidelines on prosecuting corporate wrongdoers Thursday, following pressure from lawmakers and businesses that said it had overzealously pushed companies to waive their attorney-client privileges. The new policies will address those concerns by asking that companies that face prosecution be rewarded for disclosing relevant facts rather than for waiving attorney-client privileges, said Deputy Attorney General Mark Flip, who announced the changes at the New York Stock Exchange. Corporations that cooperate with investigators will receive "due credit" even when they retain their privacy privileges with their legal counsel teams, he said. The guidelines also prohibit...

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