TheCorporateCounsel.net

With the Democratic majority in both houses of Congress expected to take an aggressive approach to investigations, this Mayer Brown memo provides some guidance on whether a particular company is likely to be on the receiving end of an investigative subpoena. This excerpt highlights questions that companies that have interacted with the Trump administration should ask in assessing their risk of being targeted by Congress:

– Have interactions with the administration resulted in significant regulatory decisions, transaction approvals, exemptions, tariff relief, federal funding, or other benefits that could become the subject of congressional inquiry?

– Has the company entered into prominent commercial relationships or participated in initiatives that may attract political or public attention?

– Could internal communications, board materials, or other records be interpreted differently from the company’s public statements or explanations of its decisions?

– Are there issues involving government relationships, corporate conduct, or public policy that could become relevant to a broader investigation of administration actions?

The memo says that companies expecting possible congressional scrutiny should identify potential areas of exposure, ensure they can preserve and collect relevant records, and establish a coordinated, cross-functional response. Senior executives and directors should also be prepared for possible inquiries or testimony and a strategy for engaging with policymakers and managing internal and external communications should be developed.

By the way, if you represent a tech sector company – particularly one that’s played footsie with the Trump administration – be sure to check out this Fenwick memo on oversight topics that tech companies should expect to see inquiries from Congress about in 2027.

– John Jenkins