Twice in the last two years, a privilege paradox has surfaced in DOJ corporate enforcement guidance. The “all relevant facts” requirement of both the Yates Memo and the recently released FCPA Corporate Enforcement Policy have forced companies to, once again, contend with competing expectations of safeguarding privilege while remaining eligible for full cooperation credit. In a guest article, Baker Botts partners Bridget Moore and Kyle Clark, and associate Christine Ingram, examine the policies and provide practical approaches for preserving privilege for employee-witness-interview memos in the post-Yates world. See “Maintaining Work Product Protection During Investigations After the Herrera Decision” (Feb. 7, 2018).