The Department of Justice’s move to reclassify marijuana as a less dangerous drug, on which it began formal proceedings on May 16, won’t legalize state-level adult use and medical marijuana unless it’s produced, sold, and...more
5/29/2024
/ Agribusiness ,
Bank Service Providers ,
Controlled Substances Act ,
Decriminalization of Marijuana ,
Department of Justice (DOJ) ,
Financial Crimes ,
Financial Institutions ,
FinCEN ,
Marijuana ,
Marijuana Related Businesses ,
Racketeering
On May 21, 2024, the Drug Enforcement Agency (DEA) filed the Proposed Rule to move marijuana from Schedule I of the Controlled Substances Act (CSA) to Schedule III of the CSA. In light of the rescheduling marijuana news,...more
5/28/2024
/ Agribusiness ,
Business Expenses ,
Compliance ,
Controlled Substances Act ,
Cost of Goods Sold (COGS) ,
DEA ,
Decriminalization of Marijuana ,
Intellectual Property Protection ,
Investors ,
Labor Regulations ,
Marijuana ,
Marijuana Related Businesses ,
Popular ,
Schedule I Drugs
On May 16, 2024, the U.S. Drug Enforcement Administration (DEA) released the proposed rule (Proposed Rule) to reschedule marijuana from Schedule I to Schedule III under the Controlled Substances Act (CSA). The Office of Legal...more
5/20/2024
/ Anti-Money Laundering ,
Comment Period ,
Controlled Substances Act ,
DEA ,
Department of Justice (DOJ) ,
FinCEN ,
Food and Drug Administration (FDA) ,
Marijuana ,
Marijuana Related Businesses ,
Office of Legal Counsel (OLC) ,
Popular ,
Proposed Rules ,
Schedule I Drugs ,
THC
Based on recent events, it seems likely marijuana will be rescheduled under the Controlled Substances Act (CSA) sometime this year. While many industry experts have discussed the impacts in recent months, many questions still...more
2/1/2024
/ Agribusiness ,
Brand ,
Cannabis Products ,
Cannabis-Related Businesses (CRBs) ,
Controlled Substances Act ,
Drug Paraphernalia ,
Marijuana ,
Marijuana Related Businesses ,
Trademark Application ,
Trademark Registration ,
Trademark Trial and Appeal Board ,
Trademarks ,
USPTO
On January 8, 2024, the Kentucky Cabinet for Health and Family Services (Cabinet) published its long-anticipated first proposed set of medical marijuana regulations. These proposed regulations set forth the operating...more
On November 7, 2023, voters in Ohio approved Ohio Issue 2, the Marijuana Legalization Initiative (the Initiative), which legalizes marijuana for recreational use in Ohio. Among its key provisions, the Ohio Initiative creates...more
11/7/2023
/ Agribusiness ,
Cannabis Products ,
Cannabis-Related Businesses (CRBs) ,
Commercial Tenants ,
Decriminalization of Marijuana ,
Dispensaries ,
Licensing Rules ,
Marijuana ,
Marijuana Cultivation ,
Marijuana Related Businesses ,
Medical Foods ,
Medical Marijuana ,
New Legislation ,
Plant Based Products ,
Recreational Use ,
Regulatory Reform ,
Retail Market ,
Social Equity Programs ,
State and Local Government ,
Tax Rates
In the final episode of our three-part series, "Exploring Issues in Cannabis and Bankruptcy," McGlinchey's Cannabis Group Co-Chair, Heidi Urness, along with colleagues Timothy Byrd and Rudy Cerone, will delve into the...more
It is no secret that cannabis businesses and owners remain largely barred from taking advantage of federal bankruptcy protections, leaving distressed marijuana businesses with limited restructuring options. Most often,...more
For financial institutions who engage in marijuana-related banking services, the primary compliance challenge remains the disconnect between federal and state law, as it is still illegal to manufacture, distribute, or...more
6/19/2023
/ Agribusiness ,
Bank Secrecy Act ,
Cole Memorandum ,
Controlled Substances Act ,
Department of Justice (DOJ) ,
Financial Crimes ,
Financial Institutions ,
FinCEN ,
Marijuana ,
Marijuana Related Businesses ,
Suspicious Activity Reports (SARs)
Starting a cannabis business is often discussed, but maintaining a business, particularly during a downturn in the industry, is a completely different ballgame. Pockets of the cannabis industry are experiencing financial...more
The Washington State Liquor and Cannabis Board (WSLCB) will open the application period for Social Equity marijuana retail licenses on March 1, 2023.
The application period will close on March 30, 2023. More than 40...more
In late October, the Alabama Medical Cannabis Commission (AMCC) sent comprehensive License Application Forms to more than six hundred medical marijuana industry hopefuls throughout the state. The deadline to apply for one of...more
For a variety of reasons, many states that have legalized recreational or medical marijuana have imposed residency requirements throughout their regulatory schemes, meaning that marijuana license holders, employers, and, in...more
On Thursday, July 21, 2022, Senators Chuck Schumer, Ron Wyden, and Cory Booker unveiled the long-awaited Cannabis Administration and Opportunity Act (CAOA), which, if passed, would decriminalize marijuana at the federal level...more
As the trend to legalize the medical and recreational use of marijuana continues to blaze through the states, federal law, and bankruptcy courts by extension, have not yet followed suit....more
6/8/2022
/ American Bankruptcy Institute ,
Bankruptcy Code ,
Cannabis-Related Businesses (CRBs) ,
Chapter 11 ,
Controlled Substances Act ,
Creditors ,
Decriminalization of Marijuana ,
Marijuana ,
Marijuana Related Businesses ,
Medical Marijuana ,
Workout Agreements