Canna Law Blog

MAY 26, 2019

Looks like marijuana banking is stuck, again. The banking associations from all 50 states and 1 U.S. territory sent a joint letter to leaders of the Senate Banking Committee on Monday, to urge advancement of bipartisan legislation that would protect financial institutions that service marijuana businesses.

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Banking Marijuana Safety Legislation 98

Cannabis Law Report

DECEMBER 14, 2021

monetary banking protocols in banking cannabis and hemp operations. This honor is part of a financial services certification program overseen by the Policy Center for Public Health & Safety (PH&S) in collaboration with state attorneys general. ALBUQUERQUE, N.M. , Dec.

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Banking Hemp Compliance Compliance 52

Canna Law Blog

DECEMBER 5, 2019

The tides have been rapidly changing for hemp companies to gain access to banking, which has not traditionally been available to hemp companies due to the fact that hemp was (sort of) federally illegal until about a year ago. That has made it very difficult for many hemp and hemp-derived CBD (“Hemp-CBD”) businesses to access bank accounts.

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Banking Hemp Compliance Compliance 72

Cannabis Law Report

OCTOBER 19, 2021

(DENVER) October 19, 2021 – Simplifya (“Simplifya” or “the Company”), the leading regulatory and operational compliance company servicing the cannabis ecosystem through advanced software and technologies, announced it has expanded its suite of regulatory and compliance tools with the launch of Simplifya Market Guide. Policy Movement.

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Cannabis Law Report

OCTOBER 31, 2019

Law Firm Manatt, Phelps & Phillips, LLP writes… The Cannabis Banking Guidance from California’s Department of Business Oversight (DBO) offers California-chartered financial institutions serving cannabis-related businesses assurances that the DBO will not bring enforcement actions based solely on such relationships.

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Canna Law Blog

FEBRUARY 27, 2019

Six years after it was initially introduced, the House Financial Services Committee released the latest draft legislation that would create a “safe harbor” for banks to serve the rapidly expanding cannabis industry on February 7, 2019. Specifies how businesses on tribal land could qualify; and.

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Banking Marijuana Legislation Business 99

Canna Law Blog

JANUARY 16, 2019

And there are so many ramifications, from food law to trademarks to the financial services environment. We represent a handful of banks (and a larger handful of credit unions), and we give those outfits advice on banking hemp and marijuana. We are optimistic that the hemp industry will have ample banking options.

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Cannabis Law Report

NOVEMBER 18, 2021

BOSTON, DENVER, LOS ANGELES and NEW YORK — Leading cannabis law firm Vicente Sederberg LLP on Thursday announced several attorney promotions across its offices, including three new partners. Jerrico Perez is based in VS’s Denver office, where she focuses her practice on administrative law, regulatory compliance, and licensing.

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Cannabis Law Report

FEBRUARY 9, 2022

Well worth a read if you want to catch up on the state of British banking for cannabis / hemp products… it’s not good! Banks, insurance companies and payment providers are refusing to work with cannabis-related companies throughout the UK, hampering the growth of the industry and leaving many in financial limbo.

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Cannabis Law Report

SEPTEMBER 25, 2019

House of Representatives approved the Secure and Fair Enforcement (SAFE) Banking Act 321-103. It is the first standalone cannabis policy reform bill to ever reach a House floor vote. Neal Levine of the Cannabis Trade Federation states … The bipartisan SAFE Banking Act ( H.R.1595 In a vote Tuesday, the U.S.

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Banking Safety Compliance Compliance 55

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. While hemp and marijuana are both derived from the plant Cannabis sativa L, they are legally distinguished on both a federal and state level by their THC content.

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Banking Law Compliance Compliance 40

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

DECEMBER 18, 2021

(DENVER) December 16, 2021 – Simplifya (“Simplifya” or “the Company”), the leading regulatory and operational compliance software platform serving the cannabis industry, announced it experienced 100% growth year-over-year in 2021. Simplifya Growth Highlights. Simplifya experienced 100% growth year-over-year (2020 to 2021).

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Compliance Compliance Banking Business 52

Cannabis Law Report

APRIL 25, 2022

Certification Supports Law Enforcement in how to Identify Legal Operators from Illicit. ” The Public Health & Safety Cannabis Financial Service Certification helps law enforcement and state regulators distinguish legal cannabis operators from illicit. .” It also determines both outstanding U.S.

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Hemp Banking Safety Compliance 52

Canna Law Blog

MARCH 11, 2022

The policy is part of the Marijuana Regulation and Taxation Act’s (MRTA) social and economic equity plan, which Simon Malinowski wrote about in this blog post last April. Our colleagues at Green Light Law Group have pointed out as did our own Vince Sliwoski in writing about the impact of the new Oregon license moratorium, here and here.

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Retail Policy Banking Programs 89

Cannabis Law Report

SEPTEMBER 12, 2021

It is time for federal action to clarify and harmonize the laws and regulations surrounding the state-legal cannabis industry and marijuana-related businesses, so that this industry can take part in the legitimate financial services industry.”. Hood Remarks at the PBC Conference 2021: Payments, Banking, Compliance in the Cannabis Industry.

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Banking Law Legalization Hemp 89

Cannabis Law Report

JULY 2, 2019

Starting today, US manufacturers and merchants can apply through LegitScript to certify CBD products and websites that are in compliance with USDA, FDA, FTC, and DEA regulations, as well as state-specific laws.

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Compliance Compliance Programs CBD 40

Cannabis Law Report

AUGUST 10, 2022

Thirty-eight states have either decriminalized cannabis or enacted laws authorizing its use for medical or recreational adult use. [1] Some advocates are still pushing to pass the SAFE Banking Act, allowing banks insured by the FDIC to serve cannabis businesses without fear of violating federal law.

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Legalization Banking Legislation Compliance 52

NORML

FEBRUARY 22, 2019

Arizona Governor Doug Ducey signed legislation into law this week permitting the production of industrial hemp in accordance with the new federal regulations. Legislation is pending, House Bill 2149, to amend the definition of “cannabis” under the 2010 voter-approved medical marijuana law. AZ resident? Connecticut.

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Legislation Hemp Compliance Compliance 178

SMPL

AUGUST 14, 2019

The American Bar Association (ABA) adopted a resolution on Monday that calls on Congress to allow states to set their own marijuana policies and recommends rescheduling or descheduling cannabis under federal law. The report goes on to describe how its recommendations would help resolve some of these issues.

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Cannabis Law Report

NOVEMBER 15, 2021

Treasurer Tyler Klimas, Executive Director of the Nevada Cannabis Compliance Board, At-large board member Steve Marks, Executive Director of the Oregon Liquor and Cannabis Board. As we collectively analyze and respond to emerging issues in the cannabis industry, we will continue to be the preeminent voice in cannabis regulatory policy.”.

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Compliance Compliance Programs Topical 98

NORML

JUNE 14, 2019

Governor John Bel Edwards (D) of Louisiana signed legislation into law giving patients the option to inhale medical cannabis through vaporization. Governor Doug Ducey (R) of Arizona signed legislation into law to establish medical cannabis testing standards. Click here to email your lawmakers in support of banking access.

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Legislation Banking Access Hemp 148

Canna Law Blog

MARCH 30, 2022

Federal law still treats cannabis as a Schedule I narcotic, which means businesses have limited access to banking. The law in every state allows property owners to be held liable if their negligence causes damages to people on the premises.

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Business Policy Events Conditions 92

Cannabis Law Report

FEBRUARY 28, 2023

A unique cannabis public policy and industry experiment is ramping up in Malta where non-profit adult-use cannabis clubs are expected in the near future. Starting next week, Malta’s government will begin accepting applications for non-profit adult-use cannabis clubs.

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Banking Policy Legalization Cannabis 52

Cannabis Law Report

APRIL 17, 2022

Last week, New York lawmakers and Governor Hochul passed the state’s budget, which includes a change to New York’s tax law that may help cannabis businesses see significant tax savings. Proposed Cannabis Banking Bill. Advisory Board.

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Conditions Cultivation Banking Business 52

NORML

MARCH 22, 2019

House Financial Services Committee has scheduled to convene a markup on The Safe Banking Act, HR 1595 on Tuesday, March 26th. Governor Ron DeSantis (R) of Florida signed legislation into law to restore patients’ right to smoke medical cannabis. Under state law, adults face civil penalties for minor marijuana possession offenses.

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Legislation Hemp Patients Compliance 134

Cannabis Law Report

AUGUST 6, 2019

Regulators won’t punish credit unions simply for working with marijuana businesses that are operating in compliance with state laws, the head of the federal agency that oversees the financial services providers said in a new interview. We don’t get involved with micro-managing credit unions,” he said.

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Banking Compliance Compliance State Laws 40

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. Here’s a look back at 2019 and a projection of what’s to come in 2020 Cannabis Law. . 2019 Defining Moments in California Cannabis Law . January 2019.

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Law Banking Hemp Retail 59

Cannabis Law Report

JULY 4, 2019

Canada : Questions Regarding Canadian And Uruguayan Cannabis Laws. Cummins: CAN CANNABIS COMPANIES OPEN BANK ACCOUNTS IN URUGUAY? Last Updated: July 3 2019. Article by Patrick J. Blaney McMurtry LLP. Your LinkedIn. Connections at Firm. From: Patrick Cummins, Blaney McMurtry LLP, Toronto, Ontario, Canada.

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Law Banking Seed-To-Sale Cannabis 40

Canna Law Blog

AUGUST 2, 2022

It’s a policy idea, or directive. I’ll be interested to see how industry feels about this policy change. Inflation is taking a toll on everything from wages to investment, and the classic struggles around taxation, banking, etc. For now, it’s important to note that the Release isn’t a new rule.

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Environment Compliance Compliance Policy 87

Cannabis Law Report

MARCH 29, 2019

An-Chi Tsou is the principal at Tsou Consulting, LLC, specializing in state and local regulatory and legislative compliance, guidance, and advocacy. As most people know, state law provides very generous authority to local jurisdictions regarding operational requirements and standards. Authored By: An-Chi Tsou.

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NORML

MARCH 8, 2019

This week, a bipartisan coalition of more than 100 co-sponsors has reintroduced legislation in Congress, The Secure and Fair Enforcement Banking Act (SAFE Banking Act), HR 1595, to allow state-licensed marijuana-related businesses to engage freely in relationships with banks and other financial institutions. FL resident?

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Legislation Patients Access Seed-To-Sale 168

MMJ Recs

MARCH 16, 2024

Regulatory Framework and Policy Implications The regulatory framework governing the medical marijuana industry has profound implications for businesses, consumers, and society as a whole. Policy decisions related to taxation, zoning, and advertising also impact the industry’s operations and growth trajectory.

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Supply Chain Research and Development Marijuana Seed-To-Sale 105

NORML

FEBRUARY 15, 2019

The House Financial Services subcommittee on Consumer Protection and Financial Institutions held a hearing Wednesday to address the lack of access to basic banking services by state-legal marijuana businesses. ” At a more local level, the decriminalization policy in Dayton, Ohio went into effect this week. MT resident?

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Legislation Hemp Compliance Compliance 161

Cannabis Law Report

FEBRUARY 14, 2019

AUTHORS: Darren Kaplan, Garrett Graff, Keenan Jones Hoban Law Group. PUBLISHER: CANNABIS LAW REPORT. . By the spring, Blumenauer seeks committees to begin passing laws that “narrow the marijuana policy gap – the gap between federal and state marijuana laws.”. Darren Kaplan : Hoban Law Group.

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Banking Compliance Compliance Access 40

NORML

MAY 31, 2019

Governor Jared Polis (D) of Colorado signed multiple cannabis reform bills into law that regulate cannabis delivery services and social consumption spaces, and reduce criminal penalties for the possession of large quantities of cannabis. Click here to email your lawmakers in support of banking access. AL resident? IL resident?

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Legislation Banking Access Hemp 110

Cannabis Law Report

AUGUST 20, 2022

Six months ago, Facebook finally made it impossible to run our page, the second biggest cannabis law reform page in the world, which had reached 750,000 followers. We continue to operate our Facebook group, CLEAR Drugs Policy Reform , which has around 10,000 members. We have no explanation for either of these problems.

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