Managing Compliance and National Security Risks When Doing Business in the DRC, Part 2

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 discuss doing business in and with the Democratic Republic of the Congo (DRC). This is the second part of a two-part series on this topic, in which they present a detailed approach to evaluating and managing travel to a high-risk country or region.

They discuss how companies investing in high-risk jurisdictions like the Democratic Republic of the Congo should treat diligence as ongoing risk management, using tailored controls, audits, and continuous monitoring informed by geopolitical developments and government/regulatory priorities (including signals such as announcements and sector focus, such as critical minerals). The speakers emphasize pragmatism: accepting some ambiguity while designing jurisdiction-specific compliance frameworks, rather than placing standard programs on “autopilot” and maintaining active C-suite and board engagement. They stress building and documenting a rational, risk-tolerant decision process that can be explained to regulators (e.g., DOJ/SEC), including knowing counterparties and local dynamics, implementing real controls, and escalating decisions appropriately. Key pitfalls to avoid include overcommitting to projects beyond risk tolerance and entering transactions without sufficient preparation. The panel also urges compliance leaders not to be paralyzed by fear, to shape opportunities early, and to note market opportunities and signals of U.S. engagement, such as financing for the Lobito railway corridor.

Key highlights:

Ongoing Risk Controls

Pragmatism In High Risk

Regulator Ready Diligence

Mistakes To Avoid

Where To Start

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

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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