The cannabis industry continues to grow. Nearly 25 percent of the U.S. population lives in one of the 10 states that permit the recreational use of cannabis and 33 states have legalized its medicinal use. In addition, the Farm Bill signed into law on Dec. 20, 2018 legalized industrial hemp and its derived products on a federal level. However, the passage of this law only adds to the confusion, with states free to implement their own regulations of the hemp industry.
Although the air surrounding cannabis payments are still hazy, it is clear that this industry is here to stay and only getting larger and more complex. Despite the fact that marijuana remains illegal at the federal level, a number of financial institutions are staking a claim in this $8 billion industry and offering financial services to marijuana-related businesses.
This panel moves beyond discussions of drug policy, the Suspicious Activity Report (SAR), the Cole Memo and pending federal legislation. Panelists will talk about the real ins and outs of how to provide financial services to the cannabis industry and what to think about as you determine whether to capitalize on this growing line of business.
Gain Insight & Understanding
Attendees learn about best practices and useful tips on topics such as:
- Performing due diligence on potential business partners/clients
- Maintaining relationships with regulators and law enforcement
- Identifying and retaining qualified professionals and service providers
- Communicating with senior leadership and your board of directors
- Assessing and addressing risks as the industry continues to grow
AAPs & APRPs: This webinar is worth 1.8 Continuing Education Credits
Managing Director, Waterstone LLC
Partner, Kelley Drye & Warren LLP
Philip DS Martin, CAMS
Head of Compliance, Titan Vault LLC
Partner, Kelley Drye & Warren LLP & Former Assistant U.S. Attorney