Overview
- Under the program, qualifying companies can receive a conditional declination within two to three weeks of a self-report, with SDNY saying it has already granted one within about a month of disclosure.
- The policy covers market‑integrity offenses such as securities, commodities and digital‑asset fraud, false statements to auditors or regulators, and certain willful securities and commodities law violations, but excludes matters with any nexus to terrorism, sanctions evasion, foreign corruption, trafficking, and similar aggravating conduct.
- SDNY removes several factors that often disqualify companies elsewhere, stating that offense seriousness, pervasiveness, senior‑leadership involvement, and prior corporate criminal history will not automatically bar a declination.
- Participating companies must provide extensive cooperation, identify culpable individuals, preserve and produce records including ephemeral messages, make witnesses available, remediate harm, pay full restitution, and report credible allegations for three years.
- A declination binds only SDNY and does not protect individuals, and companies that do not self‑report face a strong presumption against declination with likely resolutions such as a guilty plea, DPA, or NPA that include monetary penalties.