In this podcast, Matt Ellis participates in a conversation with the FCPA Professor regarding recent bribery and anti-corruption developments in Latin America, including the current enforcement climate in Brazil, the regulatory complexities which often serve as the root cause of bribery in Latin America, and risk points for companies doing business in the region. "Brazil is at an exciting point and it's really sending a message to the rest of the region," Ellis said. "Whereas in some countries, there is a real lack of attention, in others, people are watching what's happening in Brazil and they're thinking about the implications for their own countries." As to the biggest risks for multinational companies operating in Latin America, Ellis discusses the two "bookmarks of compliance," that are most often overlooked in the development of a robust compliance policy – the initial risk assessment and the compliance audit.