Perhaps one of the most notable changes in corporate enforcement during the Trump administration was the decrease in appetite for requiring independent compliance monitors as part of negotiated settlements. At the end of October 2021, Deputy Attorney General Lisa Monaco announced a slew of changes to DOJ policies in a speech and memorandum to prosecutors (Monaco Memo), including changes to how this administration plans to think about monitors. In this second article in our series taking a close look at the changes wrought by the Monaco Memo, we explore how significant the directives regarding compliance monitors are and how they might play out in settlements. The first article in the series looked at the Monaco Memo’s reversion to the Yates Memo’s requirement that companies provide evidence on all individuals involved in possible wrongdoing and not just those substantially involved. The final article will look at how the DOJ will treat recidivists going forward and the newly established Corporate Crime Advisory Group. See “How Avon Made Its Unique Monitorship a Positive Experience” (Jan. 22, 2020).