Manhattan U.S. Attorney Announces NPAs for Corporate Cooperation in Investigations

Federal prosecutors in the Southern District of New York plan to offer companies non-prosecution agreements (NPAs) in exchange for cooperation in criminal investigations, U.S. Attorney Jay Clayton announced Feb 5 at the Securities Enforcement Forum in New York. The shift follows a broader scaling back of corporate crime enforcement by the Justice Department, with renewed focus on immigration and drug cases under the current administration. Clayton emphasized that prompt signing of NPAs with continued cooperation is a priority to encourage reporting and rooting out wrongdoers. He also highlighted ongoing priorities in white-collar enforcement, including misconduct in small-cap stocks, private funds, and prediction markets, where prosecutions are expected. Clayton criticized the enforcement of the Foreign Corrupt Practices Act, calling it不利 to U.S. interests and preferring measures that target individuals over penalizing companies.