Tag: Venezuela

Daily Compliance News: September 29, 2026, The End of SOX Edition

Post author By Admin
Post date September 29, 2026
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Welcome to the Daily Compliance News. Each day, Tom Fox, the Voice of Compliance, brings you compliance-related stories to start your day. Sit back, enjoy a cup of morning coffee, and listen in to the Daily Compliance News. All from the Compliance Podcast Network. Each day, we consider four stories from the business world, compliance, ethics, risk management, leadership, or general interest for the compliance professional.

Top stories include:

Trump Administration to get rid of SOX reforms. (FT)
Ex-chair of China’s BAIC has a death sentence suspended. (Reuters)
Boeing compliance expert sues for retaliation. (Bloomberg Law)
Why refiners will not touch Venezuelan gold. (NYT)

My first work of general non-fiction is now out: Deluge Before Dawn, the story of the 2025 flood in Kerr County, Texas, which killed 119 people and devastated a county. It is a story of tragedy, heartbreak, survival, and resilience.

It is available on the following sites:

Amazon.com

Stoney Creek Publishing

Barnes and Noble

Texas A&M University Press

Bookshop.org

Google.Books

Walmart

This week only, the Kindle e-book version is available for $0.99 on Amazon.

Tags Boeing, China, corruption, Enron, SOX, Venezuela

Daily Compliance News

Daily Compliance News: September 18, 2026, The 21 Air Suspended Edition

Post author By Admin
Post date September 18, 2026
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Top stories include:

Amazon suspends 21 Air. (NYT)
Congress wants FTC to investigate Amazon/Walmart bots. (WSJ)
Hamm into Venezuela. (NYT)
John Eastman wants the Supreme Court to overturn his disbarment. (Reuters)

It is available on the following sites:

Amazon.com

Stoney Creek Publishing

Barnes and Noble

Texas A&M University Press

Bookshop.org

Google.Books

Walmart

This week only, the Kindle e-book version is available for $0.99 on Amazon.

Tags 21 Air, Amazon, bots, FTC, Harold Hamm, John Eastman, Venezuela

Daily Compliance News

Daily Compliance News: August 24, 2026, The Racing into Venezuela Edition

Post author By Admin
Post date August 24, 2026
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Top stories include:

AI for email compliance. (NJIT News)
TikTok settles for $400MM. (Reuters)
New GRC products. (CCI)
Racing to get into Venezuela. (WSJ)

To learn about the intersection of Sherlock Holmes and the modern compliance professional, check out Tom’s latest book, The Game is Afoot-What Sherlock Holmes Teaches About Risk, Ethics and Investigations on Amazon.com.

Tags AI, CCI, email compliance, GRC, TikTok, Venezuela

FCPA Compliance Report

FCPA Compliance Report: The Business Case for Going Back into Venezuela with Loren Steffy

Post author By Admin
Post date July 27, 2026
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Welcome to the award-winning FCPA Compliance Report, the longest-running podcast in compliance. In this episode, Tom welcomes back former Houston Chronicle business columnist Loren Steffy to discuss the business aspects of returning to Venezuela.

Loren Steffy has spent much of his career analyzing the energy industry and the challenges of oil and gas development. On Venezuela, he argues that Trump administration moves are unlikely to produce meaningful gains in oil output and are more likely to deepen market uncertainty, especially in West Texas. Steffy says Venezuela’s oil sector is effectively too risky and too unstable for major foreign investment because its infrastructure has deteriorated, its legal and political environment remains unclear, and rebuilding production would require major capital, advanced technology, and years of work. Even if some companies were willing to take a chance, he believes the combination of insecurity, weak rules, and Trump-era policy uncertainty makes a broad investment revival in Venezuela highly unlikely.

Resources:

Loren Steffy on LinkedIn

Stoney Creek Publishing

Tom Fox

The FCPA Compliance Report was recently named the world’s Best Business Ethics Podcast by FeedSpot.

Tags FCPA, Loren Steffy, Stoney Creek Publishing, Venezuela

2 Gurus Talk Compliance

2 Gurus Talk Compliance – Episode 76 – The CW Wrap Up Edition

Post author By Admin
Post date May 15, 2026
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What happens when two top compliance commentators get together? They talk compliance, of course. Join Tom Fox and Kristy Grant-Hart in 2 Gurus Talk Compliance as they discuss the latest compliance issues in this week’s episode!

Stories this week include:

Jury says Musk owes $2.1bn for Twitter; SEC says $1.5MM. (Reuters)
Jho Low wants a pardon. (WSJ)
JPMorgan rejects the claim but offered a $1MM settlement. (WSJ)
The black hole of Venezuela. (NYT)
D&B partners with Anthropic for compliance AI. (Security Brief)
Compliance Week National Conference – Discussion about SEC & DOJ’s regulatory statements.
State increasingly taking lead in anti-trust enforcement – (Corporate Compliance Insights)
So What Happened with Broadcat? – (Corporate Compliance Insights)
Prediction Market Risk Is Hiding in Your Organization, Whether You Know It or Not – (Corporate Compliance Insights)
Florida man buys mask at gas station to burglarize bank across the street: deputies – (WFLA )

Resources:

Kristy

Kristy Grant-Hart on LinkedIn

Order Kristy’s updated, 10-year, new edition of How to Be a Wildly Effective Compliance Officer by clicking here.

Tom

Check out the top compliance handbook, The Compliance Handbook, 7th edition, published by LexisNexis. Visit the LexisNexis® Store at https://lexisnexis.com/fox20

To save 20% on The Compliance Handbook: A Guide to Operationalizing Your Compliance Program, please reference or enter promotion code: FOX20.

Offer expires December 31, 2026. Offer applies to new orders only, before shipping and taxes are calculated, and shipped to a U.S. address. Discount will be applied to each applicable product after code FOX20 is entered. Discount does not apply to current subscriptions, renewals, or updates. Certain exclusions and other restrictions may apply. Void where prohibited. View full terms here.

Tags Broadcat, CW 2026, D&B, Elon Musk, Florida Man, Jho Low, JPMorgan, prediction markets, State AntiTrust Enforcement, Venezuela

From the Editor's Desk

From the Editor’s Desk: Aaron Nicodemus Reflections on March and April in Compliance Week

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Post date April 3, 2026
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In this episode of From the Editor’s Desk, Tom Fox sits down with Aaron Nicodemus for a lively and insightful look back at the biggest compliance stories from March, while also previewing the trends, enforcement issues, and events set to shape April. They also begin the countdown to the 2026 Compliance Week National Conference in May.

Tom and Aaron break down the fast-moving, policy-driven shifts in U.S. sanctions on Venezuela, Iran, and Russia, and explore how companies are balancing business opportunities with escalating geopolitical and compliance risks amid a volatile oil market. They spotlight Compliance Week’s feature on illegal mining, unpacking its deep connections to financial crime, corruption, and supply chain exposure. The conversation also examines a notable March FCPA declination under the DOJ’s new Corporate Enforcement Policy, focusing on what it signals about voluntary self-disclosure, remediation, cooperation credit, and the Department’s continued emphasis on prosecuting individuals. Along the way, they consider possible aggravating factors, including payments tied to designated criminal or terrorist groups, and what these developments may mean for the future of cross-border enforcement cooperation.

Looking ahead, Tom and Aaron preview the 2026 Compliance Week National Conference, taking place May 6–8 in Washington, DC, including awards finalists, anticipated remarks from DOJ and SEC officials, and timely sessions on AI, whistleblowers, and emerging compliance challenges. They also highlight the conference’s expanded commitment to new voices and share an early look at the Third Party Risk Management & Supply Chain Summit, coming October 26–28 in Chicago.

Resources:

Aaron Nicodemus on LinkedIn

Compliance Week

Tags 3rd parties, Balt, bribery, Compliance Week, Compliance Week National Conference, corruption, CW, FCPA, FTOs, Iran, Russia, sanctions, Venezuela

Innovation in Compliance

Innovation in Compliance: Venezuela’s Energy Reopening with Loren Steffy

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Post date March 17, 2026
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Innovation comes in many areas, and compliance professionals need not only to be ready for it but also to embrace it. Join Tom Fox, the Voice of Compliance, as he visits with top innovative minds, thinkers, and creators in the award-winning Innovation in Compliance podcast. In this episode, host Tom Fox visits with energy journalist/publisher Loren Steffy to discuss whether a Trump administration announcement regarding Venezuela is meaningful for oil markets, concluding that it mainly increases uncertainty and is unlikely to drive major U.S. oil-company investment.

They note West Texas shale generally needs about $60 oil to break even, making $50 oil politically and economically problematic. They explain that Venezuela’s heavy crude requires specialized extraction technology and extensive, aging infrastructure upgrades to reach the market, potentially costing billions and taking decades, with some estimates placing Venezuela’s break-even price at $80 or higher. They emphasize governance, corruption, degraded PDVSA human capital, contract enforceability, and unresolved debts (including reported $12B owed to ConocoPhillips) as key barriers, making Venezuela “uninvestible” for most majors and suggesting only high-risk players might consider entry amid unclear U.S. strategy.

Key highlights:

Venezuela Heavy Crude Basics
Infrastructure Rebuild Challenge
Human Capital and Governance
Old Debts and Legal Risk
Government Plan or Subsidies

Resources:

Loren Steffy on LinkedIn

Stoney Creek Publishing

Innovation in Compliance was recently ranked Number 4 in Risk Management by 1,000,000 Podcasts.

Tags Loren Steffy, price of oil, Trump Administration, Venezuela

FCPA Compliance Report

FCPA Compliance Report: Venezuela Re-Entry: A Strategy of Watchful Waiting

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Post date March 2, 2026
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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:

Tom Fox

Returning to Venezuela on Amazon.com

Tags Carl Valenstein, Katelyn Hilferty, Morgan Lewis, OFAC, sanctions, Venezuela

Daily Compliance News

Daily Compliance News: February 18, 2026, The Stupid Is as Stupid Does Edition

Post author By Admin
Post date February 18, 2026
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Welcome to the Daily Compliance News. Each day, Tom Fox, the Voice of Compliance, brings you compliance-related stories to start your day. Sit back, enjoy a cup of morning coffee, and listen in to the Daily Compliance News. All, from the Compliance Podcast Network. Each day, we consider four stories from the business world, compliance, ethics, risk management, leadership, or general interest for the compliance professional.

Top stories include:

Just how big is Ukraine’s corruption problem? (TheIndependent)
HB-1 visas and GOP racial hatred. (NYT)
More energy investments in Venezuela. (WSJ)
The Trump Administration wants history and science removed from federal parks. (Reuters)

Tags corruption, HB-1 Visa Program, Trump Administration, Ukraine, Venezuela

FCPA Compliance Report

FCPA Compliance Report: Navigating Security Threats In Venezuela with Marc Duncan – A Comprehensive Approach to Risk Management

Welcome to the award-winning FCPA Compliance Report, the longest-running podcast in compliance. In this episode, Marc Duncan, Chief Operating Officer at Salus Solutions, joins Tom to discuss security issues that US companies returning to Venezuela need to address upon reentering the country.

They deep dive into understanding and managing security threats across domains such as finance, personnel, corporate structure, and cyber operations. Duncan discusses the importance of viewing problems abstractedly, conducting full-scale threat assessments, and the crucial role of continuous monitoring. He shares insights into working with local communities, ensuring physical and operational security, and developing crisis communication strategies. The conversation also touches on insider threats, technical surveillance countermeasures, and the need for a responsive, flexible security team. Learn how companies, including those operating in high-risk environments such as Venezuela, can effectively prepare for and mitigate risks.