Self-reporting possible wrongdoing impacts SEC investigations, and effects even the determining of penalties.

Essentially, entities would receive credit for this self-reporting, and, according to reports by the SEC, the credit has been substantial.  Such credit has even risen to both the SEC and DOJ not prosecuting targets.  Such an approach is also not new given the SEC’s history with the Seaboard report that listed the factors the SEC would consider when making enforcement decisions.  Of course, some companies also may try to correct the situations before reporting such an approach may have certain dangers associated with it.  The DOJ has also indicated the importance of “getting in” early to develop credibility with the prosecutors.

Thus, there is more to self-reporting than meets the eye.