By Sundie Seefried Let me just state right up front …. If you need positive reinforcement, acceptance or encouragement to venture into cannabis banking, give it up now. Cannabis banking is NOT for the faint of heart. We remain in a time where many continue to hedge their bets: trying to determine when to get […]
FinCEN guidelines
Banking Evolution
The cannabis industry is evolving rapidly and so should your perception of banking. I recently attended the Second Annual State of the Cannabis Industry Conference, in Massachusetts. The event was organized by the cannabis law practice of Burns & Levinson and by Viridian Capital Advisors, a financial advisory firm dedicated to the cannabis industry, with […]
Cannabis Banking Blues: How Best To Get A Bank Account
By Hilary Bricken Securing a bank account will not be easy, but it is possible if you are in the right state and you prepare and act accordingly. In my previous post, I wrote about avoiding the scammers that abound when it comes to cannabis banking. Because cannabis is federally illegal, getting a bank account […]
Blowing Smoke: Marijuana Banking Scams
By Hilary Bricken What are the specific red flags to look for if you’re being pitched on a ‘solution to the marijuana banking problem’? Of the many issues that prevent cannabis businesses from acting like regular businesses, their lack of access to banking is probably the most hindering. Since commercial cannabis activity remains a federal […]
A Nugget of Inspiration
When does an alternate currency allow you to legally transact a Schedule 1 drug? When you are the 6th largest economy in the world. My life has been like a Forrest Gump movie from the moment I uttered the words, “Seed to sale tracking,” having not the slightest clue that cannabis is not grown from […]
Marijuana Madness: Jeff Sessions Rescinds State-Legal Pot Policies
By Hilary Bricken What will the Future DOJ marijuana enforcement look like? It’s finally happening — Attorney General Jeff Sessions will, today, rescind the 2013 Cole Memo regarding federal enforcement in states that legalized cannabis. The Cole Memo, which came on the heels of marijuana legalization in Colorado and Washington back in 2012, set forth […]
Marijuana Fundraising In California: What’s In Your Private Placement Memorandums?
Many of our California clients that are raising money ask us to draft or review private placement memorandums (“PPMs“) for private securities offerings in their cannabis companies and/or ancillary cannabis companies. As you would expect, investment in California cannabis businesses is at an all-time high thanks to the Medicinal and Adult Use Cannabis Regulation and Safety Act, […]
