10a. BD/IA – The Cannabis Compliance Conundrum (Intermediate)


A green wave of cannabis legalization has and continues to sweep across the United States, but most financial institutions don’t provide services to the plant touching cannabis industry. Attendees will hear about the legal risks associated with doing business with plant touching cannabis companies and will examine the current trends relating to ancillary cannabis companies. The session will also review recent federal legislative efforts to bring cannabis companies within the mainstream financial system. This panel of will explore what compliance officers can expect if that occurs, the regulatory requirements that would apply, and what a cannabis compliance program would entail based on the compliance programs already in place at credit unions and state banks who currently service the cannabis industry. The session will conclude with a discussion about what broker-dealers and investment advisers are doing about compliance and cannabis stocks.

Learning Objectives:

  • Understand why plant touching cannabis companies pose unacceptable legal risks to federally regulated institutions
  • Learn about the different approaches that firms take relating to companies who provide goods and services to the cannabis industry
  • Hear about federal legislative efforts to address the financial services cannabis conundrum, and if it does, what a cannabis compliance program will entail based on the current compliance programs of credit unions and state banks who service the cannabis industry
  • Understand the different approaches relating to compliance and cannabis stocks by broker-dealers and investment advisers

Intermediate                        Program Level: Date: October 21, 2020 Time: 11:45 am - 1:00 pm Katrina Carroll Kerry Zinn

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