Duration: Scheduled for 90 minutes including question and answer session.
Presenter(s): Darren Grady, partner SimthAmundsen and William Hackney, partner SimthAmundsen
Price: $299.00, On-Demand includes full audio presentation, question and answer session, and presentation slides.
Credits: Live webinar approved for 1.5 NASBA credit hours (Management Services).
Who Should Attend? CEOs, boards of directors, chief risk officers, operations officers, people involved in decisions regarding servicing the cannabis trade
In our webinar series regarding banking cannabis, you may have recently heard insights from bankers successfully working with this burgeoning industry. Now, it is time to learn the legal implications from lawyers focused on this area.
As cannabis remains illegal at a federal level, partnering with cannabis-related businesses requires a complete understanding of all relevant law to minimize the risk associated with the industry. Once you master the legal strategies, you will be able to position your institution to provide lucrative services to new clients in this arena.
From coast to coast and Alaska to Hawaii, a substantial majority of states have now legalized some form of cannabis, with a large number of states even moving to legalize recreational or so-called “adult use” cannabis. This trend offers an opportunity for banks, non-traditional lenders and other financial institutions who aim to provide financial services to businesses involved with the burgeoning cannabis industry.
However, as cannabis remains illegal at a federal level, partnering with cannabis-related businesses requires a complete understanding of all relevant law in order to minimize the risk associated with the industry.
Join Darren Grady and William Hackney, partners on SmithAmundsen’s cannabis team, as they present a webinar on the current state of cannabis law and its impact on financial institutions providing services to the industry, offer some best practices, and discuss what the future may hold for cannabis and banking
WHAT YOU'LL LEARN
A sampling of what this webinar will cover:
- What are the relevant federal, state, and local laws?
- What impact does the Controlled Substances Act (“CSA”) have on financial institutions?
- What are the differences between cannabis, marijuana, and hemp?
- What guidance do federal prosecutors follow?
- How has FinCEN adopted the guidance, including the Cole Memos?
- What due diligence should financial institutions undertake before providing services to cannabis-related businesses?
- What SAR filings are required?
- How will proposed legislation alter the current banking landscape?
- What problems do bankruptcies pose? How can you mitigate them?
YOUR CONFERENCE LEADER
Your conference leader for “Legal Strategies to Serve the Cannabis Industry” are Darren Grady and William Hackney.
Darren Grady is a partner in SmithAmundsen’s Chicago office. He works with cultivators, manufacturers, distributors, and entities with connections and business relationships in the cannabis field with a specialty in CBD. He provides counsel on litigation, corporate, regulatory and employment issues. An experienced trial attorney, Darren has consistently earned beneficial results for his clients. Darren has also successfully taken matters to arbitration and earned dismissals for his clients on multiple occasions via dispositive motion practice. Darren works within a variety of industries, representing banks, insurance companies, manufacturing companies, individuals and businesses in the cannabis industry, and restaurants.
William Hackney is a partner in SmithAmundsen’s Chicago office, concentrating his practice in the area of insolvency, restructuring, and creditors’ rights. Bill has significant experience representing debtors, lenders, secured creditors, creditors’ committees, trustees, and other parties in chapter 11 and chapter 7 cases as well as out-of-court workouts and restructurings and the related litigation that accompanies the same. Bill also regularly advises financial institutions and cannabis-related businesses on the interaction between state cannabis laws and federal banking and bankruptcy laws, acts as outside bankruptcy counsel to a number of business entities, and provides general business counseling in distressed situations.
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