On 12 November 2013, District Court Judge Jed Rakoff gave a speech entitled “Why Have No High Level Executives Been Prosecuted In Connection with the Financial Crisis?” Judge Rakoff criticised the shift in focus from prosecuting high-level individuals, adding that “the future deterrent value of successfully prosecuting individuals far outweighs the prophylactic benefits of imposing internal compliance measures that are often little more than window-dressing.”