Investing in the cannabis industry is not without its risks, given the evolving regulatory landscape and the varying state and federal statuses of the product itself. The Financial Crimes Enforcement Network (FinCEN) has...more
The evolving regulatory landscape for marijuana-related businesses poses unique compliance challenges for firms in the securities industry. The Financial Crimes Enforcement Network (“FinCEN”) continues to enforce its 2014...more
It turns out that if you want to know the Department of Justice’s policy on marijuana enforcement, you just have to sue them. In a remarkably candid showing of the DOJ’s current policy concerning marijuana enforcement,...more
Welcome back to The Week in Weed, your Friday look at what’s happening in the world of legalized marijuana. This week, Virginia Governor Youngkin took action on the retail market bill. The Florida Supreme Court handed down...more
The sale of adult-use cannabis has been legalized in 24 states in the United States. But this does not mean there are no other legal impediments to the cannabis industry in those jurisdictions. For example, cannabis...more
There Has Been Little Movement in Federal Legalization. This has led to cannabis investors and companies to downgrade expectations for federal legalization and focus their strategies on state reform. Federal lawmakers...more
For financial institutions who engage in marijuana-related banking services, the primary compliance challenge remains the disconnect between federal and state law, as it is still illegal to manufacture, distribute, or...more
As we pass the halfway mark of 2022, it's a good time to reflect on what has happened, or not happened, with respect to the legal framework for the provision of financial services to marijuana-related businesses...more
Attorney General Merrick Garland has reiterated that the Department of Justice will not prioritize prosecuting marijuana use, a position that Garland expressed during his confirmation hearings. In remarks in front of a Senate...more
Prior to his Judiciary Committee confirmation hearing last week, Judge Merrick Garland had not clarified his views on marijuana policy and how he would approach the issue if confirmed as Attorney General. However, after his...more
On November 3rd, voters in Arizona, New Jersey, South Dakota, Montana, and Mississippi passed ballot measures to bring legal cannabis to each of their states. It’s not every year that we see states from opposite ends of the...more
Medical marijuana will be on the ballot this November in Mississippi. Initiative 65 proposes to amend the Mississippi Constitution to allow citizens, certified by physicians, to use medical marijuana. For the most part,...more
In the early 1970s, I worked as a petroleum transfer engineer (aka service station attendant). In those halcyon days, we actually pumped the gas for customers, washed their windows and offered to check the oil. I remember one...more
Maryland first joined the "legal marijuana" party back in 2014, and in June 2017, the Maryland Medical Marijuana Commission licensed the first dispensary. Originally published in Maryland State Bar Association Section of...more
The quasi-legal status of marijuana in today’s United States is raising serious questions about federalism and enforcement for U.S. financial institutions. It is well known that marijuana is still classified as a Schedule I...more
Federal legislators continue to struggle over the growing disconnect between increasing State legalization of the cannabis industry, and the continued illegality of cannabis under federal law....more
The myriad—and conflicting—state, federal and international laws governing the burgeoning marijuana industry have created a complicated legal landscape for financial institutions. In the United States, most states have...more
Since President Trump assumed office in January 2016, there has been substantial concern that the Department of Justice would take a harder line on state-legal cannabis than DOJ’s relatively tolerant approach during the Obama...more
Perform an online search for “is CBD legal?” and you will get a variety of different results. It is a challenging question because CBD can refer to cannabinoids from different sources, and it is often interchanged with other...more
It’s hard to keep up with the news these days. It sometimes feels like you can’t step away from your phone, computer, or TV for more than an hour or so without a barrage of new information hitting the headlines—and you’re...more
On January 4th, Attorney General Jeff Sessions took a big step backward. He announced that the Department of Justice rescinded the " Cole Memo " and other internal enforcement guidelines, issued under the Obama Administration...more
President Trump piqued the interest of participants in and observers of the marijuana industry when he stated in early June that he would “probably” support recently proposed bipartisan legislation aimed at removing the...more
New York State Encourages Banking for State-Licensed Medical Marijuana Businesses – Whereas a Maine Company Runs Into Trouble, Despite State Law Legalizing Medical Marijuana....more
Entrepreneurs looking to enter Massachusetts’ newly minted recreational marijuana market can sleep a bit easier tonight after a statement from U.S. Attorney Andrew Lelling (the top federal prosecutor for the state) regarding...more
ON OCTOBER 2, 2012, kidnappers robbed and abducted a marijuana dispensary owner from his Newport Beach home. They then drove him to the Mojave Desert where they tortured him and demanded that he reveal where he had buried his...more