When a ranking (atleast in their eyes) colleague identifies key areas of policy, procedure, nomenclature or other corporate issue.
The letter is almost exclusive sent by e-mail nowadays, but used to be typed and distributed in [hard copy]. It is meant to provide clarity of the rules, but also to publicly [indemnify] current and futures violators or said policy, procedure or nomenclature.
Like invoking [Miranda Rights] upon criminal suspects, the memorandizer hopes to strike fear and compliance into the hearts of would be dissenters and reinforce corporate subordinations.

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