Alert

Recommended Alerts

Sign Up For Alerts

DOJ Unveils New Policies to Incentivize Responsible Corporate Citizenship and Deter Wrongdoing

On September 15, 2022, before an audience at NYU School of Law that included the Director of the SEC’s Enforcement Division Gurbir Grewal, U.S. Attorneys for the Southern District of New York and District of New Jersey, and several line prosecutors, Deputy Attorney General Lisa O. Monaco announced important changes to corporate criminal enforcement. These changes are the result of ongoing study by the DOJ’s Corporate Crime Advisory Group, a group of DOJ experts tasked with a review of corporate enforcement efforts, which Monaco first publicized last October. During her most recent remarks, Monaco emphasized that the DOJ will implement a combination of incentives and deterrents to “make the business case for responsible corporate behavior” and shift the burden of corporate financial penalties away from shareholders. The Department also released an accompanying memorandum further describing the changes. Monaco’s remarks make clear that the DOJ is taking concrete steps to accompany the more aggressive prosecutorial stance against corporate crime that it adopted last October.

Read More

New Threshold and Penalty Amounts Applicable to Hart-Scott-Rodino Filings


Time to Read: 1 minutes Practices: Antitrust

Printer-Friendly Version

Transactions closing on or after February 12, 2009 will be subject to the following revised HSR jurisdictional and filing fee thresholds:

Size-of-Transaction Test

  • The threshold used in the size-of-transaction test will increase from $63.1 million to $65.2 million of voting securities, assets, or non-corporate interests held by an acquiring person.

Size-of-Persons Test

  • The sales and assets thresholds used in the size-of-persons test will increase from $12.6 million to $13 million and from $126.2 million to $130.3 million.
  • The size-of-persons test will apply to transactions valued at less than $260.7 million.

Filing Fees

  • Filing fee thresholds based upon the value of the assets or voting securities being acquired will be revised as follows:

Value of Transaction

Filing Fee

 

$65.2 to $130.3 million (previously $63.1-$126.2 million)

 

$45,000

$130.3 to $651.7 million (previously $126.2 - $630.8 million)

 

$125,000

$651.7 million or more (previously $630.8 million or more)

$280,000

 

 

 

 

 

 

 

 Penalties

  • The maximum civil penalty for HSR-related violations will increase from $11,000 to $16,000 per day and is applicable to transactions closing on or after February 8, 2009.

Other value limitations contained in the HSR coverage and exemption rules have also been adjusted.

If you have any questions about this decision, please contact any of the attorneys listed on this page or your regular Ropes & Gray legal advisor.

Printer-Friendly Version

Cookie Settings