On June 16, the U.S. Department of Justice’s (DOJ) National Security Division (NSD) and the U.S. Attorney’s Office for the Southern District of Texas (USAO-SDTX) announced their decision to decline prosecution of White Deer Management LLC (White Deer), a private equity firm that voluntarily disclosed export control and sanctions violations committed by its newly acquired portfolio company, Unicat Catalyst Technologies LLC (Unicat).[1] This is the first public declination issued under NSD’s M&A Safe Harbor Policy, which applies to voluntary self-disclosures involving potential violations of export control, sanctions, and national security laws.[2]