The U.S. Attorney’s Office for the Southern District of New York (SDNY) is taking aim at corporate criminal wrongdoing with a new whistleblower initiative. Our White Collar, Government & Internal Investigations Team breaks down the key elements of this new program and what it means for companies and counsel.

• Offering the promise of non-prosecution to corporate whistleblowers, the SDNY’s new Whistleblower Pilot Program signals a more aggressive approach to corporate criminal enforcement by federal authorities
• This new initiative comes against the backdrop of a variety of revisions and refinements to DOJ corporate criminal enforcement policy, and is all but certain to lead to more corporate criminal enforcement activity
• Companies must place even more of a premium on effective and focused detection of and response to potential misconduct

On January 10, 2024, the U.S. Attorney’s Office for the Southern District of New York (SDNY) unveiled a new Whistleblower Pilot Program aimed at incentivizing “early voluntary self-disclosure of criminal conduct” that is otherwise unknown to enforcement authorities. The program, which applies to conduct in the corporate, financial, and investment spaces, is an unmistakable signal that corporate criminal enforcement remains a top priority for federal authorities and can be expected to increase as individuals respond to these newly promulgated incentives.

The Pilot Program

In contrast to the monetary incentives offered by the U.S....

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