It might be said that there is a little something for everyone in the latest DOJ revisions to its corporate enforcement policies. Deterrents, incentives and, perhaps, an added measure of fairness are embedded in provisions like those addressing clawbacks and compensation systems as well as monitorships. “No one should have a financial interest to look the other way or ignore red flags,” Monaco said last month at a speech accompanying the release of a revised memo. At the same time, the DOJ appears to acknowledge that some aspects of its own methods of doing business could be improved. The monitor provisions in the new memo” confirm what many have been saying for some time: that there is a real need to improve the way monitors are selected and operate. This message seems to have been received, and that is an important takeaway,” said Lucinda Low, a partner at Steptoe. This is the third of the Anti-Corruption Report’s series on Monaco’s speech and the Revised Monaco Memo. The first installment addressed the highlights of the new policy, and the second focused on the impact on deal making and strategy. See our four-part series on the (first) Monaco Memo: “A Roll Back on Individuals and Cooperation” (Jan. 19, 2022); “A Shift in the Monitorship Cost/Benefit Analysis” (Feb. 2, 2022); “Considering All Prior Misconduct” (Feb. 16, 2022); and “The Corporate Crime Advisory Group” (Mar. 2, 2022).