Justice Department Tightens Rules for Self-Reporting Misconduct

The Justice Department said Monday it’s tightening rules for self-reporting misconduct like price fixing.

Firms must report any potential violations of criminal antitrust laws “promptly,” or they will still be subject to prosecution, the Justice Department announced Monday in the first update to leniency rules in more than five years.

“Corporate boards and executives, and the counsel advising them, should understand that sitting on their hands after detecting an antitrust crime will have real ramifications -- losing out on leniency means severe consequences,” said Assistant Attorney General Jonathan Kanter, who leads the antitrust division, in a statement.

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