As a follow-up to yesterday’s post regarding the status of FinCEN’s 2014 marijuana banking guidance in light of the Attorney General’s policy reversal on marijuana enforcement at the federal level, we have received written confirmation from FinCEN that its 2014 guidance remains in place. In response to our inquiries, FinCEN provided us with the following
FinCEN Confirms Marijuana Banking Guidance Remains in Place Despite DOJ Policy Reversal
Reuters is reporting today that the Treasury Department’s Financial Crimes Enforcement Network (FinCEN) was caught off guard by Attorney General Jeff Sessions’ announcement last week that the Justice Department was reversing its policy regarding enforcement of federal marijuana laws. A FinCEN spokesman said in a statement that his agency’s prior pronouncement regarding marijuana banking nevertheless
ABA Panel Tackles Venture Investing in Cannabis Companies
Venture capital is playing a growing role in the country’s emerging legal cannabis industry. Attorneys Emily J. Yukich and Matthew R. Kittay of Fox Rothschild’s Emerging Companies & Venture Capital Practice will conduct a panel discussion with industry insiders during the American Bar Association Business Law Section’s annual meeting in Chicago.
The Angel Venture
Florida Municipalities Debate Dispensaries
As a follow up to my post on the City of Boynton Beach having its regulations overturned by Florida state law, other Florida municipalities are debating medical marijuana dispensaries.
Those adopting or extending moratoriums on dispensaries:
- Marathon City, located in the Keys, has extended its moratorium for another 180 days.
- Winter Garden, located
Marijuana Banking Update Issued by FinCEN
The Financial Crimes Enforcement Network of the U.S. Department of the Treasury (FinCEN) recently issued a Marijuana Banking Update, with data through March 31, 2017. The number of banking institutions offering services to Marijuana Related Businesses continues to increase, but the overall number of banks providing such services remains low. As of March 31, 2017,
Temporary Injunction May Delay Recreational Marijuana Sales in Nevada
A temporary restraining order granted to a group of alcohol distributors may delay the sale of recreational marijuana in Nevada, which was scheduled to begin on July 1. On May 30, 2017, the First Judicial District Court of Nevada issued the temporary restraining order,
Florida Administrative Judge Increases the Number of Medical Marijuana Licenses by Two
See my posts here, here, here, and here regarding the Florida Legislature’s efforts to pass laws to implement Amendment 2 (medical marijuana passed by Florida’s voters in November 2016) which failed in the last legislative session.
While we wait to see if the Florida Legislature will call a special session to get
Clock Runs Out on Medical Marijuana in the Florida Legislature
See my posts here, here, and here regarding the Florida Legislature’s efforts to pass laws to implement Amendment 2 (medical marijuana passed by Florida’s voters in November 2016).
Unless a special session is called, the Florida Legislature closes out this session with no agreement on medical marijuana. Issues related to the number
Trying to Beat the Buzzer – Florida Senate Passes Medical Marijuana Bill
With time running out in the session, Florida’s Senate passed SB 406 (regulations to implement Amendment 2) late last night. Now, the Florida Senate and House need to work out their differences, see my recent post on the House Bill.
Florida’s Senate and House have reached agreement on the following:
- No smoking, but yes to
Florida House Goes With No Smoking and Limited Licenses, But Unlimited Storefronts for Medical Marijuana
In March and April, I posted about two Florida House and one Florida Senate proposals to implement Amendment 2 (which legalized medical marijuana in November 2016).
The Florida House of Representatives has now passed HB 1397, which was one of the more restrictive proposals. However, HB 1397 has been amended to add some uses,