Greenspoon Marder Cannabis Law Group Blog

AUGUST 26, 2019

The guidance offers reassurance to credit unions following the 2018 Farm Bill, which federally legalized hemp, but failed to address banking in the hemp industry, leaving the banking industry uncertain as to their capacity to legally serve the industry. I’ve seen dispensary employees have their bank accounts shut down.

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Banking Hemp Marijuana Events 40

The Blunt Truth

SEPTEMBER 10, 2019

Following last year’s passage of the 2018 Farm Bill, the National Credit Union Administration (NCUA) issued a regulatory update in August of 2019 to federally insured credit unions. As to the effects of the 2018 Farm Bill, the NCUA highlighted three points.

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Hemp Business Compliance Compliance 78

Cannabis Law Report

JULY 2, 2019

The world of marijuana banking has been rife with compliance risks for years. The risks and significant compliance burden of serving a business that is still federally illegal has led to a smaller number of institutions choosing to serve these customers. Bank Secrecy Act Compliance. July 1 2019. Article by Ann L.

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Banking Hemp Marijuana Compliance 40

Cannabis Law Report

SEPTEMBER 24, 2019

As early as September 23, 2019, the United States House of Representatives is expected to vote on the widely anticipated Secure and Fair Enforcement (SAFE) Banking Act. Today’s cannabis industry encompasses the growth, processing, distribution, and other ancillary services related to both hemp and marijuana.

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Banking Law Compliance Compliance 40

Cannabis Law Report

DECEMBER 14, 2019

On December 3, 2019, four federal agencies, in consultation with state banking regulators, clarified the legal status of hemp growth and production under the Bank Secrecy Act (BSA) for banks 1 providing financial services to hemp-related businesses. JD Supra Release. percent on a dry weight basis.” The Joint Statement.

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Hemp Business Banking Agriculture 59

Cannabis Law Report

SEPTEMBER 10, 2019

Following last year’s passage of the 2018 Farm Bill, the National Credit Union Administration (NCUA) issued a regulatory update in August of 2019 to federally insured credit unions. As to the effects of the 2018 Farm Bill, the NCUA highlighted three points. By Tonya M. Esposito & Renee B. Appel on September 10, 2019.

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Hemp Business Compliance Compliance 45

Cannabis Law Report

JANUARY 21, 2022

20, 2022 /PRNewswire/ — Dama Financial (“Dama”), the nation’s largest provider of access to banking and payment solutions for the cannabis industry, has entered into an agreement to acquire GrowFlow Corp. (“GrowFlow”), whose business management and compliance tools have processed more than $3.3

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Supply Chain Compliance Compliance Banking 52

Medicinal Genomics

NOVEMBER 5, 2019

The 2018 Farm Bill also closed a loophole that allowed high THCA plants to meet the 0.3% The 2018 bill specified that labs must use a “post-decarboxylation or other similarly reliable” method for detecting THC. Excluding stem and leaves from the sample will make it much more difficult to stay below the 0.3% THC requirement.

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THC Hemp DEA Banking 81

Cannabis Law Report

SEPTEMBER 12, 2021

Top Federal Financial Regulator Slams Congress Over Marijuana Inaction And Calls For Interagency Banking Workgroup. Hood Remarks at the PBC Conference 2021: Payments, Banking, Compliance in the Cannabis Industry. Here’s his full presentation. September 2021. NCUA Board Member Rodney E. Board Member Rodney E.

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Banking Law Legalization Hemp 89

Cannabis Law Report

AUGUST 11, 2021

The company insiders allegedly used Sharp to hide their large penny stock holdings in portions of less than 5% of the issuers’ total outstanding shares in order to evade certain securities disclosure requirements and brokers’ compliance protocols, stated authorities. which trades at 17 cents per share after peaking over $8 in 2018. “We

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Compliance Compliance Law Banking 111

Cannabis Chronicles

JULY 1, 2019

billion in the United States in 2018, and the number of “plant-touching” jobs is expected to pass 500,000 by 2022, according to New Frontier Data, a cannabis market research and data analysis firm. That means business owners like Ivan and Anne Wood have to take extra precautions to make sure they’re in compliance.

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Business Data Banking Cultivation 100

Cannabis Law Report

MARCH 13, 2019

The Cannabis and Hemp Advisory practice will provide counsel and support to existing businesses, start-ups, and ancillary service providers within the cannabis industry, especially in the areas of: tax planning; compliance with section 280E of the U.S. Will Banks get a Hit of the Cannabis Industry? CONTINUE READING. CONTINUE READING.

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Hemp Business Banking Concentrates 71

Cannabis Law Report

MAY 26, 2019

National Survey on Marijuana Laws and Regulations Copyright © 2018 Fox Rothschild LLP | Attorney Advertising. Navigating the various state compliance regulations – while the consumption of marijuana, regardless of its intended use, is still prohibited at the federal level – can be a daunting task. ” Introduction.

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Law Marijuana Compliance Compliance 55

Cannabis Law Report

NOVEMBER 6, 2021

“In 2018, the U.S. Also, understanding the regulatory and compliance framework in your cannabis clients’ states will go a long way toward mitigating your own risk, she said. Very few financial institutions service accounts associated with cannabis businesses, and certainly federally chartered banks do not.

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Banking THC Hemp Cannabis 52

Cannabis Law Report

MARCH 20, 2020

MOBILE, DIGITAL BANKING . COMPLIANCE. HIPAA COMPLIANCE. Florida earned an estimated $626 million in sales in 2018. FINANCIAL SERVICES. ACCOUNTANT , CPA. TAX FRAMEWORKS. ADVERTISING OPPORTUNITIES. LEGAL SERVICES. INTELLECTUAL PROPERTY . TRADEMARK ,, PATENT PROTECTIONS. BRANDING , MARKETING. CORPORATE LAW.

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Dispensary Compliance Compliance Cultivation 64

Veriheal

NOVEMBER 12, 2020

And because cannabis businesses can’t take advantage of banking protection s or other forms of federal assistance, they run the risk of being even more hard-hit by the recession. An addition to the tax code that was enacted in 2018 stipulated that businesses grossing less than $25M in revenue could deduct a larger portion of their expenses.

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Business Banking Cannabis Compliance 62

Cannabis Law Report

DECEMBER 12, 2019

Compliance with state laws is of little benefit when it comes to federal bankruptcy, banking, and tax codes. 2018); and In re Rent-Rite Super Kegs West, Ltd., The cannabis business-lessee was apparently in compliance with all applicable Washington State laws and regulations. BAP 2015); In re Medpoint Mgmt., 111 (Bankr.

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Compliance Compliance Chronic Pain Banking 59

Cannabis Law Report

JUNE 11, 2019

Since the legalization of recreational cannabis use in Canada in October 2018, investment has flowed into the cannabis sector. Entities financing cannabis businesses should perform due diligence to ascertain whether this is the case and seek to negotiate relevant representations and warranties to minimize risk and ensure compliance.

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Compliance Compliance Business Policy 40

Cannabis Law Report

NOVEMBER 7, 2019

Colorado has long been regarded one of the the US’s better state markets for efficient compliance and good regulatory management by state and local authorities. This, we have learned, happened regularly throughout 2017 and 2018. Teri Buhl reports. 20094 Hwy 60 Rocky Ford, Co 81067, Google Maps.

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Hemp Research and Development Banking CBD 104

Canna Law Blog

JULY 30, 2019

Commercial cannabis licensing in California kicked off on January 1, 2018. No real banking options. This means that our rules probably aren’t the strongest to satisfy the 2014 FinCEN guidelines that enable cannabis banking, and this is why we don’t have really robust banking options in California.

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Collective Banking Cannabis Compliance 57

Cannabis Law Report

FEBRUARY 4, 2019

On December 12, 2018, the WSLCB passed Board Interim Policy (BIP) 06-2018 which allows marijuana licensees to spend personal funds on their marijuana business prior to the Board vetting the funds. Have lost their bank. The bank has denied their application. Trending Now: Use of Personal Funds. Payment Methods.

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Topical Packaging Retail Legislation 65

WeedAdvisor

AUGUST 31, 2019

until December of 2018, it did not discourage companies from pulling the same stunt across the ocean. Things like access to loans, daily banking and online payments are off-limits because of the skittish financial industry. When that time comes, a lot of businesses will need to watch their compliance. Like in the U.S.,

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CBD Compliance Compliance THC 45

Canna Law Blog

AUGUST 23, 2019

Commercial marijuana activity remains a federal crime, and the Bank Secrecy Act (“BSA”) generally prohibits financial institutions from accepting marijuana-generated dollars. That has made it very difficult for many hemp and hemp-derived CBD (“Hemp-CBD”) businesses to access bank accounts. That is changing.

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Hemp Business Cultivation Banking 69

Cannabis Law Report

DECEMBER 23, 2019

It has been two years since California began licensing yet operators still struggle with compliance and are all still de facto, breaking one law or another. December 2019 – Federal banking regulators take steps to allow for financial services for hemp related businesses. . Posted by Alexa Steinberg, Esq. | Dec 20, 2019

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Law Banking Hemp Retail 59

Cannabis Law Report

AUGUST 8, 2019

investment community as to the boundaries of legal risk and compliance. Medical use of cannabis when prescribed by a registered specialist doctor was legalised in November 2018. to be paid into his Spanish bank account and allowed the fraudsters to withdraw money from that account. There is very little guidance for U.K.

Legalization 40

Legalization Banking Compliance Compliance 40

Cannabis Law Report

JULY 28, 2022

To the south, the US has generally had to play catch up with Canadian legislation, where cannabis was legalised in 2018. Globally, sales increased from $21 billion in 2020 to $29 billion in 2021 and are expected to reach $35 billion this year, according to Jason Wilson, cannabis research and banking expert at ETF Managers Group.

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Legislation CBD Media Recreational 52

Cannabis Law Report

MARCH 17, 2020

As Congress is considering legislation to provide banks with a safe harbor for providing services to those in the cannabis industry, other areas, from financial services to soft drink manufacturers, are actively assessing how the explosion of this new market will impact their products and services. Compliance program.

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Compliance Compliance State Laws Law 59

Cannabis Law Report

JUNE 28, 2022

While hemp derivatives are lawful under the 2018 Farm Bill, they are not yet regulated by the Food and Drug Administration (FDA). California has had marijuana delivery for quite a few years at this point, and these licenses carry with them very strict protocols and standards to ensure strict compliance and public safety.

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Legalization Supply Chain Hemp Cannabis 52

Cannabis Law Report

JUNE 9, 2021

The hint of undisclosed promotions that influenced the price of Majesco stock was first reported by journalist Chris Carey at Sharesleuth.com in 2018. Because the company was NASDAQ listed independence rules are important to keeping the company in compliance with a NASDAQ listing. Groussman before he ate too much Pizza.

Banking 82

Banking Compliance Compliance Dispensary 82

The Blunt Truth

OCTOBER 29, 2019

The 2018 Farm Bill, which federally legalized hemp (formerly a Schedule I drug like its close cousin, marijuana), opened the gates for mass hemp production—well, almost. The SAFE Banking Act May Help CBD Industry. Because cannabis at the federal level is considered an illegal substance, most banks are not servicing cannabis businesses.

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Hemp Legislation CBD Research and Development 45

Cannabis Law Report

SEPTEMBER 12, 2022

The market became so lucrative that Senator Mitch McConnell of Kentucky passed the Hemp Farming Act inside of the 2018 Farm Bill. This ushered in a new era and facilitated an entire new industry with President Donald Trump’s signature on December 20, 2018. Hemp is simply a type of cannabis plant defined as having less than.3

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Hemp CBD Food Extraction 52

Cannabis Law Report

JUNE 26, 2022

There also exist certain requirements to demonstrate compliance with the Regulations. To remain in compliance with the Act and its Regulations, IHEs must provide an annual notification to students and employees of certain information related to the Act. On request, IHEs must provide a copy of their biennial report to the U.S.

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Research and Development Education Programs Policy 52

Cannabis Law Report

DECEMBER 21, 2019

Shan had no intentions of letting a local fire department shut down his money making CBD machine and came up with a plan, assisted by (VP of operations) Jenna Lubieniecki , during late 2018 to set up a secret unregulated extraction plant in Rocky Ford, Colorado. Cease and Desist Letter. Folium appealed the decision but Arent fought back.

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Hemp Seed-To-Sale Extraction THC 94

Cannabis Law Report

SEPTEMBER 16, 2022

Its medical cannabis program is grounded in a 2017 voter-approved amendment to Florida’s Constitution, which was implemented through a 2018 statute. Florida was the bellwether for Southern cannabis. Following the majority of other states on this issue, the bar association issued Ethics Opinion No. Conclusion.

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Law Programs Cultivation Dispensary 52

SpeedWeed

JULY 21, 2021

From July 2017 to June 2018, the state saw $529,851,245 in taxable medical and adult-use cannabis sales, a figure that has steadily increased to $719,216,651 during the current fiscal year, which includes sales data from July 2020 to March 2021, according to the Nevada Department of Taxation. They’re looking for convenience.”.

Dispensary 52

Dispensary Packaging Terpenes Consumption 52

SpeedWeed

JULY 21, 2021

From July 2017 to June 2018, the state saw $529,851,245 in taxable medical and adult-use cannabis sales, a figure that has steadily increased to $719,216,651 during the current fiscal year, which includes sales data from July 2020 to March 2021, according to the Nevada Department of Taxation. They’re looking for convenience.”.

Cultivation 52

Cultivation Legislation Dispensary Packaging 52

SpeedWeed

JULY 22, 2021

From July 2017 to June 2018, the state saw $529,851,245 in taxable medical and adult-use cannabis sales, a figure that has steadily increased to $719,216,651 during the current fiscal year, which includes sales data from July 2020 to March 2021, according to the Nevada Department of Taxation. They’re looking for convenience.”.

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Dispensary Packaging Terpenes Consumption 52