How to Finance a Marijuana Business
About this ebook
Three 2014 developments signal a
new regulatory regime is on the way.
The U.S. Department of Justice announced
it will not interfere with marijuana retail sales as long as all state and
Federal rules are followed and all taxes are paid.
The U.S. Treasury Department’s Financial
Crimes Enforcement Network issued formal guidance to U.S. banks on how to do
business with marijuana firms.
The President of the United States
mentioned marijuana and alcohol in the same sentence.
An enormous, quasi-dormant underground
economy is awakening and large components are coming to the surface. Taylor
West, deputy director of the National Cannabis Industry Association, said, “There is a whole canopy of
products that goes beyond plants.” He cites cannabis-infused foods and drinks,
cannabis oils, butters, tinctures, and salves.
About the author
About the author
In 2009 Douglas Slain launched a monthly law reporting service, Securities Enforcement Reporter, and a quarterly, Blue Sky Chronicle, both titles focusing on the under-reported state hearings of private placements gone astray. These publications’ print versions are no longer extant but their mission and community of interest live on through a growing 1400-member LinkedIn discussion group, "State Securities Regulation Discussion Group.”
Slain has been asked to serve as an expert witness in litigation that turned, in part, on compliance with SEC Regulation D. Slain has recently taught an online course on “equity crowdfunding”—otherwise known as equity crowd financing, as mandated by the 2012 JOBS Act. This new asset class (already followed on MarketWatch.com) is being called Private Issuers Publicly Raising (PIPR).
Since early 2014 Slain has been serving on the investor’s committee of CrowdFund Intermediary Regulatory Advocates (CFIRA), a group of professionals gathered together to work with the Financial Industry Regulatory Authority (FINRA) and the Securities and Exchange Commission (SEC) to set standards and establish best practices.
Slain received his J.D. from Stanford Law School in 1970.
Wellness and Cannabis Research Foundation, the publisher of this book, is conducting a “call for papers” for clinical trials and other studies comparing alcohol to marijuana use in connection with highway fatalities, domestic violence, and public safety in general. The proceeds of this book will be contributed to the foundation.
