Legal & Regulatory News for Marijuana Businesses

19 attorneys general urge Congress to give cannabis states access to banking

A letter to 10 major Congressional leaders from 19 attorneys general asks Congress to push through legislation that would allow states with medical or recreational marijuana laws to bank as other business do. The group suggests that Congress give special attention to measures such as the Secure and Fair Enforcement Banking Act (SAFE). Congressman Ed Perlmutter, D-Colorado, introduced […]

Read More

Prince Edward Island taps marijuana growers; will use government-owned shops

Prince Edward Island has tapped three licensed producers to supply it with marijuana, while the province plans to sell adult-use cannabis products through four government-owned stores when sales are legalized this year. The move means neighboring Newfoundland will be the only province east of Manitoba to involve the private sector in marijuana sales. In announcing its […]

Read More

Slew of restrictive medical cannabis bills proposed in Arizona

A proposed law in Arizona would make publishing the incorrect address of a cannabis dispensary a felony. According to the Phoenix New Times, three “prohibitionist” Arizona lawmakers are trying out new ideas to stymie the state’s medical marijuana program and prevent a recreational program from becoming a reality. The proposed bills also would: Prohibit dispensaries […]

Read More

Sessions’ marijuana antagonism spooks hemp industry, but some see silver lining

Attorney General Jeff Sessions didn’t have hemp in mind when he repealed Obama-era protections for state-legal marijuana businesses. But his Jan. 4 announcement sent shock waves into the hemp industry, too, leaving entrepreneurs scrambling to reassure skittish investors. It’s been a rocky couple of weeks for hemp entrepreneurs. That’s despite the fact that hemp’s legal […]

Read More

Canadian regulatory group reviews US risk disclosure for cannabis stocks

An umbrella group for Canada’s securities regulators is reviewing whether its disclosure-based guidelines for companies with U.S. marijuana-related activities remain appropriate in light of Attorney General Jeff Sessions’ decision to revoke Obama-era protections for state-legal MJ businesses. The move by the Canadian Securities Administrators (CSA) comes after the organization issued disclosure-related guidelines last fall. Fifty-six […]

Read More

Los Angeles issues first licenses for cannabis sales

A medical marijuana dispensary and recreational retail store in Los Angeles have received temporary licenses from the city to sell cannabis. Mother Nature’s Remedy Caregivers in Woodland Hills and WHTC in Studio City received L.A.s’ first MMJ and adult-use permits, LA Weekly reported. The two facilities now need approval only from state regulators to begin […]

Read More

Provincial Preview: Quebec cannabis market isn’t the entrepreneurial wasteland you might think it is

Quebec’s nascent marijuana industry may be home to a disproportionately small number of licensed producers and off-limits to entrepreneurs in the retail sector, but that doesn’t mean the province lacks opportunity.

You just need to know where to look, particularly among cannabis-related ancillary businesses.

The province’s medical market, for one, has nowhere to go but up.

Read More

Congress members defend CBD, blast DEA’s hemp decision

In a bold show of support for the hemp industry and CBD, 28 members of Congress are asking a federal appeals court to reject the Drug Enforcement Administration’s argument that cannabidiol is a Schedule 1 drug. The Congress members filed the brief Thursday in conjunction with a pending lawsuit against the DEA. The 9th Circuit Court […]

Read More

Report: Marijuana banking protections intact – for now

Financial institutions that serve marijuana businesses still have federal protections – at least for now – outlined in a February 2014 memo from the Financial Crimes Enforcement Network (FinCEN), Reuters reported. The report comes after Attorney General Jeff Sessions last week revoked certain Obama-era protections for the legal marijuana industry. FinCEN is a U.S. Treasury Department […]

Read More

North Dakota specifies where state’s medical marijuana dispensaries can open

North Dakota has established eight regions for medical cannabis dispensaries in an effort to ensure qualifying patients have easy access to MMJ. The regions center on the state’s largest cities – Fargo, Bismarck, Grand Forks, Minot, Devils Lake, Jamestown, Williston and Dickinson. However, the dispensaries that eventually are licensed can be located anywhere within a […]

Read More

Marijuana investment firm 4Front Holdings raises $6M for out-of-state growth

Cannabis investment and management firm 4Front Holdings has raised $6 million toward its multiple-state expansion. The funds were raised through the issuance of convertible notes. According to a news release, 4Front manages operating licenses in emerging, state-legal medical cannabis markets. Here’s what you need to know: The company – which has offices in Phoenix and Boston […]

Read More

Demand for medical marijuana is surging in Germany

Demand for medical marijuana in Germany is surging, opening new opportunities for overseas companies. Canadian MMJ companies, in particular, have been quick to position themselves to meet a supply shortfall in Germany. By the end of 2017, a total of 13,000 patients had applied for medical marijuana reimbursements from three large health insurance companies, Rheinische Post reported. […]

Read More