A company’s approach early on will set the tone with the relevant authorities for the entirety of the investigation

Companies should consider whether to cooperate as soon as a potential issue arises. While regulatory and law enforcement authorities often offer incentives to companies that cooperate in their investigations and enforcement actions, costs and risks of cooperation can at times be significant and must be considered before a decision is made whether to cooperate and to what extent.

Because a company’s approach early on will set the tone with the relevant authorities for the entirety of the investigation, it is especially important to weigh the benefits and drawbacks of cooperation early on, decide upon a cooperation strategy, and stick to that strategy as the investigation progresses.

This chapter explores some relevant considerations in determining whether and how to cooperate in an investigation, as well as available guidance from different authorities as examples of the factors considered and cooperation credit extended (or denied) in different contexts.