Mixing Cannabis and Psychedelics Business

by Griffin Thorne, Attorney @ Harris Bricken Many cannabis companies are thinking about creative ways to pivot into the developing psychedelics market. One of the questions I hear most frequently hear is whether this is a good idea. It’s one…

Ten “Must Haves” for Cannabis Businesses in 2022

By Hilary Bricken, Principal at Harris Bricken I started as a lawyer in the cannabis industry in 2010. Twelve years in there has been immense progress and maturation at the business level for cannabis licensees. This post is dedicated to…

Industry Rocked As Leading UK Bank Shuts Its Doors To Cannabis Businesses

January 11, 2022
Ben Stevens
Banking, Finance & Real Estate, United Kingdom
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METRO Bank, one of the few institutions in the UK open to working with cannabis-related companies, is now closing its doors to the sector. The bank, which became the first high street bank in over 100 years to open in…

Understanding Dispensary Cash Flow and How to Manage It

By LaKia Bourne and JoAnne Williams There’s no question that the cannabis industry is growing, and growing rapidly. While Americans have started to spend big on buds, with legal dispensaries grossing over $17.5 billion in sales this past year, the…

Q&A with Seth Goldberg, Duane Morris Partner and Co-lead of Cannabis Industry Group

How has the deal-making environment changed over the past five years? Five years ago, the cannabis market was so much different than it is today. Only about 24 states had passed medical marijuana legislation, and only a small handful of…

Cannabis CEOs signal confidence on marijuana banking law passing

Marijuana advocates have been stacking victories over the last few years at the state level with nearly 20 U.S. states having now approved adult recreational marijuana use. But even as momentous as those changes have been, reform at the federal…

Recreational cannabis is almost here: where should the stores put their money?

August 9, 2021
AggregatedNews
Banking, Finance & Real Estate, New Mexico
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ALBUQUERQUE, N.M. — As of July, cannabis is legal to grow, possess and use recreationally in New Mexico. However, the drug is still illegal at the federal level, which means that getting access to bank accounts, loans and other financial…

CANNABIS CRYSTAL BALL: What Lies Ahead for the Cannabis Industry in 2021 and Beyond

By Reggie Snyder In early 2020, prior to the coronavirus pandemic, cannabis reform efforts were making steady progress on Capitol Hill. By all objective metrics, 2020 was initially shaping up to be a banner year for the cannabis industry at…

ICYMI: The New FinCEN Hemp Banking Guidance

July 9, 2020
Hilary Bricken
Banking, Finance & Real Estate, Hemp Policy & Legal
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By Hilary Bricken, Co-founder Harris Bricken Last week, the Financial Crimes Enforcement Network (FinCEN), issued new guidance (the “FinCEN Guidance”) for financial institutions working with hemp-related businesses. The FinCEN Guidance centers on due diligence requirements as related to the Bank…

Credit Unions and Hemp: New Federal Guidance is Here!

By Vince Sliwoski, Attorney at Harris Bricken Last week, the National Credit Union Administration (NCUA) issued new guidance (“Guidance”) for federally-chartered credit unions serving the hemp industry. All of us at Harris Bricken were excited to see the Guidance released:…

Medical and Recreational Marijuana: An Overview of the Various Issues Involved in Starting and Operating Marijuana Dispensaries Part 4

This article is the fourth part of a six-part series discussing the legal issues, operational challenges, and regulatory hurdles that marijuana-related businesses (MRBs) frequently encounter. Part 1 discussed the various fire, health, and safety risks that MRBs encounter while growing…

Hemp Industry Is Cleared to Do Business With Banks

December 5, 2019
AggregatedNews
Banking, Finance & Real Estate, Hemp Policy & Legal
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United States regulators say hemp businesses should not be treated with any more suspicion than other bank customers. The number of banks in the United States willing to lend to hemp producers can be counted on one hand. That is…

Top 6 Growing Pains in California’s Cannabis Marketplace

November 14, 2019
Hilary Bricken
California
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By Hilary Bricken, Co-Founder, Harris Bricken Every state that’s legalized cannabis for adults 21-and-up has faced that moment or even series of moments that threatened to really derail or seriously stymie market development. California is at that crossroads and has…

Crapo plans landmark cannabis banking vote

Senate Banking Chairman Mike Crapo says he wants to hold a vote on legislation that would enable banks to serve cannabis-related businesses, in what would be a major victory for the marijuana industry and for lenders eager to enter the…

Top 5 Buzzkills Keeping Cannabis Down And Out (And Emerging)

Unfortunately, most of these are here to stay thanks to the Department of Justice and the Controlled Substances Act. By Hillary Bricken, Co-Founder Harris Bricken There’s no question that cannabis remains a rocky, emerging industry even though entire countries and…