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The Financial Crimes Enforcement Network has provided additional guidance for financial institutions that monitor hemp companies, and “is intended to enhance the availability of financial services for, and the financial transparency of, hemp-related businesses in compliance with federal law.” READ MORE
The viability of many California cannabis delivery businesses may be at stake as a landmark lawsuit brought by local municipalities against the Bureau of Cannabis Control heads to trial. This post provides background information on the case, details the arguments presented by both parties and discusses the lawsuit’s implications on cannabis delivery in California. READ MORE
The ABA House of Delegates has adopted a resolution recommending the rescheduling or de-scheduling of cannabis under the CSA. The resolution urges Congress to enact legislation removing cannabis from Schedule 1 of the CSA and defer to states in drafting cannabis policies. READ MORE
With the passage of the June 25, 2019 Cannabis Regulation and Tax Act, Illinois has legalized recreational cannabis use for adults 21 and older. The Act outlines new regulations for medical dispensaries, cultivation centers, and social equity components for medical facilities already operating under Illinois’ medical cannabis program. READ MORE
On June 25th, Thompson Coburn’s St. Louis office hosted prospective cannabis-industry players for its Missouri Cannabis Business Breakfast. Our attorneys discussed the legal issues related to licensing, corporate formation and securities, banking, and real estate in the context of Missouri medical cannabis. READ MORE
On March 13, 2019, the U.S. Department of Agriculture held a listening session to solicit comments to aid in the drafting of rules that implement sections of the 2018 Farm Bill pertaining to industrial hemp cultivation. Topics included the regulatory timetable, federal agency cooperation, and more. READ MORE
During a panel at the ArcView Investment Forum, leading private fund managers and industry analysts discussed the potential opportunities and risks for investing in the booming cannabis market, including predictions about developments that may significantly impact the industry in 2019. READ MORE
With medical cannabis now legal under Missouri law, the coming industry creates new opportunities for real property owners interested in expanding their businesses. However, several risks and questions remain, and entities interested in utilizing real property for cannabis businesses need to be aware of the current issues and possible solutions. READ MORE
The DEA has moved CBD prescription drugs with THC levels below .01% to a Schedule 5 drug after the FDA’s approval of Epidolex. However, despite the reschedule, cannabis still remains a Schedule 1 substance. READ MORE
As state laws shift on cannabis legalization, some are using the opportunity to defraud investors in the cannabis industry. At the risk of federal prosecution, it is important for cannabis investors to remember these 5 warnings signs of potential fraud. READ MORE
While California law allows marijuana-derived CBD in food products, CBD from industrial hemp does not have the same privilege and faces a shrinking market both inside and outside the Golden State. READ MORE
On March 20, 2018, during a state primary voting cycle, Cook County (which includes the city of Chicago) residents voted on a non-binding referendum addressing the legalization of recreational cannabis in the State of Illinois. READ MORE
On Thursday, March 22, the U.S. House of Representatives voted to approve the most recent omnibus spending bill, allocating the funds approved by President Trump when he signed a budget deal on February 8, 2018. READ MORE
The clock is ticking on stopgap legislation shielding the medical cannabis industry from potential federal intervention. With protections under the Rohrabacher-Blumenauer amendment set to expire on Feb. 9, our Lobbying & Policy Practice breaks down what's in store for federal cannabis policy before Congress in the coming weeks. READ MORE
Recent California legislation allows employers to enforce policies prohibiting cannabis use by employees – even if consumption occurs outside of work and does not impair performance. However, cannabis businesses must be careful when drafting such policies. READ MORE
While an Alternative Public Offering structure may offer some benefits to potential cannabis companies or their potential investors, the structures have reputational and other issues that need to be considered. READ MORE
More and more cities in California are allowing the once-banned delivery of medical marijuana directly to consumers. Learn about the latest developments statewide, including in Los Angeles. READ MORE
The DEA has applied a stricter scheduling classification to a new cannabis-containing drug than a similar drug already on the market. What can be read into this decision and how will it affect the future development of cannabis pharmaceuticals? READ MORE
U.S. Attorney General Jeff Sessions continues to tune his stance on legalized medical and recreational marijuana in public comments. His latest proclamation in mid-March gives hope to the industry on medical use while leaving recreational use susceptible to a crackdown. READ MORE
Early signs of the Trump administration's stance on legalized cannabis indicates that recreational cannabis might be in the crosshairs. Companies engaged in both medical and recreational cannabis need to move swiftly to insulate medical cannabis business assets from their recreational businesses. READ MORE
Until further guidance comes from the FDA, the cannabis industry should tread carefully in the production and marketing of cannabis-containing animal supplements. Supplement makers should take care to avoid drug-like claims for their products and adhere to strict food safety regulations in the manufacturing process. READ MORE
Carl Rowley of Thompson Coburn’s cannabis practice attended the 2016 Cannabis Business Summit hosted by the National Cannabis Industry Association in Oakland, Calif., in late June. READ MORE
One overarching concern among all participants at the Conference was that of legal compliance. Every business at the convention has to worry about IRS concerns related to claiming business expenses, the paucity of banks willing to deal with the cannabis industry and accept cannabis-related funds, and the inability to work with credit cards. READ MORE
As the various state agencies look to draft rules and the timeline for implementation, we review the highlights of the new laws. READ MORE
In the words of Niels Bohr, “prediction is very difficult, especially about the future,” and prediction in the cannabis industry is made especially difficult due to certain unique issues facing cannabis businesses. READ MORE
What’s an employer to do when faced with employees using marijuana in or out of the workplace? How should employers respond to employees who use or possess marijuana legally under California law? How does such use or possession affect termination, disability and drug testing issues? READ MORE
As the legal cannabis market grows, so will the number of product liability lawsuits against the industry, including cases based upon a failure to warn of real or imagined risks, such as those alleged in the LivWell complaint. Later installments in this series will address the potential scope and bases of cannabis industry liability under failure to warn theories. READ MORE
As more states enact laws legalizing the sale of medical and recreational marijuana, cannabis businesses may start to question whether they could be held liable if customers cause injury or harm to others while using their products. A good reference for the cannabis industry is the dram shop laws that affect purveyors of alcohol. READ MORE
Thompson Coburn advises clients on state laws governing the business of cannabis to facilitate compliance with those state laws. Federal laws concerning cannabis currently conflict with state laws in states that have legalized cannabis or possession of cannabis. Although federal enforcement policy may at times defer to these states’ laws and not enforce conflicting federal laws, interested businesses and individuals should be aware that compliance with state law in no way assures compliance with federal law, and there is a risk that conflicting federal laws may be enforced in the future. In addition to this Cannabis-specific note, readers should review Thompson Coburn’s Conditions of Use / Disclaimers page containing other important information.
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