At least a dozen U.S. and foreign financial institutions are considering limiting operations in Venezuela or leaving the country entirely in the wake of threats to nationalize banks.
Brian Stoeckert, president of Los Angeles-based Stoeckert Consulting, Inc. spoke with reporter Larissa Bernardes about risks associated with a Venezuelan bond swap.
A Venezuelan securities exchange market has raised concerns among U.S. Treasury Department representatives, who say that the process lacks transparency and may be ripe for abuse, according to Luis Rivases, president of the Venezuelan Capital Markets Compliance Officers Association.
Two Venezuelan businessmen accused by U.S. prosecutors of acting as clandestine agents for Hugo Chavez's government have dropped a lawsuit against American Express Bank International related to $25 million the men had placed with the bank.
Anti-money laundering specialists who wish to provide their services to Venezuelan banks and financial institutions must now be certified by the Venezuelan Superintendent of Banks (SUDEBAN).
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