FCPA Compliance Report

In this episode, Tom Fox welcomes David Simon, Partner at Foley & Lardner; Jack Korba, Of Counsel at Foley & Lardner; and Olivier Bustin, a Partner at Pinsent Masons, to talk about doing business in and with the Democratic Republic of the Congo (DRC). This is the first part of a two-part series on this topic. The guests present a detailed approach to evaluating and managing travel into a high-risk country or region. The three argue that while governance and logistics risks remain, improved infrastructure and heightened strategic importance of the DRC’s critical minerals (including cobalt, coltan, lithium, manganese, and rare earths) make risks more manageable and the market more relevant, with noted U.S. government continuity across administrations. They discuss opportunities beyond mining, including power, logistics, banking/insurance, tech, entertainment, and education, while emphasizing infrastructure and bankability constraints. Korba outlines national security, sanctions/export controls, and supply chain “adjacency” risks, as well as the need for sector-specific analysis. The panel highlights “choke points” stemming from concentrated power and weak institutions, and Bustin explains why local content/ownership rules and patronage dynamics require diligence that goes beyond nominal ownership. They conclude by applying a risk-based compliance approach, devoting enhanced resources to higher-risk projects and counterparties. Key highlights: Why DRC Now Beyond Mining Opportunities National Security Risks Choke Points Explained Local Ownership Diligence Risk-Based Compliance Resources: David Simon Jack Korba Olivier Bustin Foley & Lardner Pinsent Masons The Democratic Republic of the Congo as a Near-Term Strategic Opportunity for U.S. Companies Part 1 Part 2 Part 3 Tom Fox Instagram Facebook YouTube Twitter LinkedIn To learn about the intersection of Sherlock Holmes and the modern compliance professional, check out my latest book, The Game is Afoot-What Sherlock Holmes Teaches About Risk, Ethics and Investigations on Amazon.com. Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode, Tom Fox welcomes back Hughes Hubbard partner Mike DeBernardis to discuss the Southern District of New York’s new corporate enforcement voluntary self-disclosure program for financial crimes and why SDNY leadership, including Jay Clayton, likely issued it: to encourage self-disclosure that saves enforcement resources and supports DOJ’s focus on individual accountability. They compare the policy to the (former) DOJ’s Corporate Enforcement Policy, highlighting notable distinctions such as SDNY’s narrower scope (financial/market integrity offenses) and a revised approach to aggravating factors that excludes common CEP considerations like seriousness, pervasiveness, and senior management involvement, while carving out categories including foreign bribery and sanctions evasion, potentially reducing forum shopping. They also examine a “conditional declination” within two to three weeks, its implications for investigation speed and timeliness, and added pressure from whistleblower programs and compressed internal triage timelines. Key highlights: Why SDNY Issued It SDNY Significance Aggravating Factors Shift Does It Move Needle Conditional Declination Speed Whistleblowers and Pressure Resources: Hughes Hubbard and Reed Mike DeBernardis on LinkedIn Tom Fox Instagram Facebook YouTube Twitter LinkedIn For more information on the use of AI in Compliance programs, my new book, Upping Your Game, is available. You can purchase a copy of the book on Amazon.com Learn more about your ad choices. Visit megaphone.fm/adchoices

Welcome to the award-winning FCPA Compliance Report, the longest-running podcast in compliance. In this episode, Tom welcomes Morgan Lewis partners Carl Valenstein (international corporate law, Latin America) and Katelyn Hilferty (international trade, export controls and sanctions) on whether businesses should consider returning to Venezuela after Maduro’s arrest and President Trump’s announcement. Ed. Note: this podcast was recorded in February, and since then, OFAC has issued New and amended Venezuelan-related General Licenses. The situation remains fluid. Valenstein leads off by noting that he is counselling businesses to engage in “watchful waiting” due to continued instability, corruption, weakened institutions, security risks, uncertainty about elections, and a lack of clear U.S. incentives, such as political risk insurance. Hilferty explains that sanctions relief is narrow: two limited OFAC general licenses focused on Venezuelan-origin oil and U.S.-origin diluents, while most sanctions and broad export control restrictions remain in effect, with licenses revocable. They discuss payment and transparency concerns, large outstanding debts, and major capital and operational challenges to restore oil production. They advise companies to review licenses, establish compliance guardrails, screen counterparties, and draft contract and payment terms before pursuing opportunities. Key highlights: What Changed in Venezuela Watchful Waiting Reality Check License Reversals and Uncertainty Compliance Starting Point Checklist Cartels and Terror Designations Beyond Oil and Gas Opportunities Resources: Morgan Lewis Carl Valenstein Katelyn Hilferty Tom Fox Instagram Facebook YouTube Twitter LinkedIn Returning to Venezuela on Amazon.com Learn more about your ad choices. Visit megaphone.fm/adchoices

Welcome to the award-winning FCPA Compliance Report, the longest-running podcast in compliance. In this episode, host Tom Fox welcomes Anik Shah, Director & Senior Legal Counsel at Sandisk, for an insightful discussion about the pivotal changes and enforcement actions around the FCPA in 2025 and their implications for 2026. In 2025, Anik Shah, a preeminent authority on FCPA and anti-corruption enforcement, offers a strategic perspective on the evolving compliance landscape. Given the recent uncertainties following an executive order and the dismissal of high-profile cases, Shah underscores the necessity for companies to maintain robust anti-bribery and anti-corruption controls, especially with potential reprioritization by the Department of Justice. He advocates a proactive risk management approach, emphasizing the importance of third-party risk management and comprehensive training to anticipate and mitigate potential FCPA issues. As enforcement focus shifts toward addressing cartel and transnational criminal organization activities, Shah advises companies to integrate anti-money laundering processes into their compliance strategies to align with global anti-corruption efforts. Key highlights: 2025 FCPA Enforcement Shifts and Uncertainty Voluntary Self-Disclosure Policy Revolution in 2025 Cartel Risk Mitigation through Compliance Integration Central Asia Construction Projects: Anti-Corruption Measures Proactive Measures: Fostering Anti-Corruption Compliance Awareness Resources: Anik Shah on LinkedIn Sandisk Tom Fox Instagram Facebook YouTube Twitter LinkedIn Returning to Venezuela on Amazon.com Learn more about your ad choices. Visit megaphone.fm/adchoices

Welcome to the award-winning FCPA Compliance Report, the longest-running podcast in compliance. In this inaugural episode of 2026, Tom Fox welcomes back Brent Carlson, a specialist in trade and economic sanctions, focusing on compliance issues related to Venezuela. Tom and Brent discuss the shifting political landscape, potential business opportunities in the energy sector, and the steps compliance professionals need to take to navigate new regulations and restrictions from the export control and trade sanctions perspective. Brent emphasizes the importance of a robust, business-aligned compliance strategy, a non-siloed approach involving all risk disciplines, and proactive dialogue with regulators. They also discuss the heightened enforcement landscape and the need for companies to remain vigilant and adaptable in a rapidly changing global environment. Key highlights: Focus on Venezuela: Navigating Export Controls and Sanctions Business Opportunities and Risks in Venezuela Importance of Understanding Business Operations Board of Directors: Asking the Right Questions Geopolitical Changes and Risk Management Resources: Brent Carlson on LinkedIn Red Flags Rising website Tom Fox Five-Part Blog Post Series on Doing Business in Venezuela on the FCPA Compliance and Ethics Blog Instagram Facebook YouTube Twitter LinkedIn Learn more about your ad choices. Visit megaphone.fm/adchoices

Welcome to the award-winning FCPA Compliance Report, the longest-running podcast in compliance. In this inaugural episode of 2026, Tom Fox welcomes back his good friend and colleague, Mike Volkov, to reflect on the tumultuous year of 2025 and discuss the new trends for the upcoming year. This is Part 2 of a two-part series. This episode delves into the significance of the False Claims Act (FCA) as a critical tool for government enforcement, discussing its constitutionality and potential outcomes before the Supreme Court. The conversation expands to discuss how FCA applies across various areas, such as trade enforcement and tariffs, and how it encourages corporate whistleblowing. Additionally, the discussion highlights the growing role of technology, AI, and ChatGPT in compliance, as well as the risks associated with their use. Other focal points include the importance of conflict-of-interest programs and the impact of ethical conduct on marketplace dynamics. The episode underlines the growing scrutiny from financial institutions and private equity over compliance practices, as well as the long-term trend towards a more ethics-driven corporate culture. Key highlights: Supreme Court and Constitutionality Issues on the FCA Corporate Whistleblowers and DOJ’s Stance Technology, AI, and Compliance Risks Conflict of Interest and Ethical Culture Marketplace Accountability and Corporate Reputation Financial Institutions and Due Diligence Resources: Mike Volkov on LinkedIn Volkov Law Group Tom Fox Instagram Facebook YouTube Twitter LinkedIn Learn more about your ad choices. Visit megaphone.fm/adchoices

Welcome to the award-winning FCPA Compliance Report, the longest-running podcast in compliance. We take a short break from our 2-part series with Mike Volkov to review the issues arising from the Trump Administration's invasion of Venezuela. Matt Ellis joins Tom Fox to look at what all this means for companies looking to do business in Venezuela. They discuss the complex landscape of doing business in Venezuela, focusing on the rampant corruption, security challenges, and the implications of U.S. sanctions. They explore the risks associated with engaging with the national oil company, PdVSA, and the broader implications for U.S. companies considering re-entry into the Venezuelan market. The conversation also touches on Cuba's role, international organizations, and the potential for infrastructure rebuilding in Venezuela, emphasizing the need for long-term strategies and careful risk management. Key highlights: Navigating Corruption and Security Risks in Business Banking and Money Laundering Concerns Cuba’s Role and Sanctions Implications International Organizations and Corruption Regulations Infrastructure Rebuilding in Venezuela Long-term Strategies for Companies Resources: Matt Ellis on LinkedIn Miller & Chevalier LLC Tom Fox Instagram Facebook YouTube Twitter LinkedIn Learn more about your ad choices. Visit megaphone.fm/adchoices

Welcome to the award-winning FCPA Compliance Report, the longest running podcast in compliance. In this episode, Tom welcomes, Daniel Zmak, Senior Director of Product Marketing at Diligent to discuss the evolving landscape of compliance. They explore the importance of modernizing compliance practices, addressing challenges like fragmentation and fatigue, and leveraging AI and technology to enhance efficiency. Key topics include the compliance maturity journey, connected compliance, and strategies for improving governance and oversight. With actionable insights and practical advice, this session aims to guide compliance professionals through the dynamic changes in the field. Highlights Include · Highs, Lows, and Surprises in Compliance · Compliance at an Inflection Point · The Compliance Maturity Journey · Fragmentation and Fatigue in Compliance · Connected Compliance: The Concept, Benefits and Future · AI in Compliance: Opportunities and Challenges · Dynamic Compliance Programs Resources Daniel Zmak on LinkedIn Diligent Website Tom Fox Instagram Facebook YouTube Twitter LinkedIn Learn more about your ad choices. Visit megaphone.fm/adchoices