On December 4, Robert McVay, one of our cannabis business attorneys, will be speaking via webinar on Lending to Marijuana Businesses. National Business Institute (NBI) is putting on this webinar, which will run from 2:00 p.m. to 3:30 p.m., Eastern time on December 4th.
NBI gives the following overview on this event:
To best assist your marijuana clients, you need to be well versed on the specific laws, regulations, recent legislation and requirements that surround commercial lending to marijuana businesses. In this focused legal program, an experienced speaker who knows the ins and outs of this niche industry will detangle credit risks, FinCEN guidance and applicable drug laws so that you can overcome common obstacles that frequently arise.
- Learn how the Controlled Substances Act affects the marijuana industry’s access to banking.
- Review credit risks for banks that want to provide services in this area.
- Interpret the Department of Justice’s memoranda – what does it mean, exactly?
- Get up-to-speed on the latest due diligence, risk assessment mandates for financial institutions, and required reporting.
More specifically, Robert will be speaking on the following:
1. How the Controlled Substances Act Affects Banks’ Decisions to Serve the Marijuana Industry
2. State Legalization vs. Federal Drug Laws
3. Credit Risks for Banks that Want to Provide Services in this Area
4. Interpreting the Department of Justice’s Memoranda
5. Current Regulatory Structure for Banks
6. FinCEN Guidance: Due Diligence, Risk Assessment Mandates for Financial Institutions, and Required Reporting
7. Why Don’t We Have a Marijuana Bank? Industry Concentration and Safety and Soundness Considerations
8. Update on Federal Legislation (e.g. H.R. 2652)
9. Update on Selected States
NBI describes Robert as follows:
ROBERT McVAY is an attorney with Harris Bricken and the Canna Law Group, a Harris Bricken practice group, where he helps domestic and international clients in diverse industries, including the regulated marijuana industry, plan, protect, and expand their businesses. He works closely with companies and entrepreneurs at every stage of development to assess their legal needs and to pursue their long-term goals. Mr. McVay has assisted countless clients with corporate formation, complex corporate transactions, regulatory compliance, and intellectual property protection. Mr. McVay graduated, cum laude, from Georgetown Law, where he served as editor-in-chief of the Georgetown Journal of International Law. He further developed his knowledge of international business law by working at an international trade firm in Washington, D.C. and at the Bureau of Industry and Security in the Department of Commerce. Mr. McVay is a member of the Washington State Bar Association and a member of the King County Bar Association, for which he also serves on the Judicial Screening Committee.
Robert heads up our firm’s cannabis banking practice and he represents a number of financial institutions on their cannabis banking and lending matters. Robert also has written a number of blog posts related to cannabis banking and financing, including the following:
- Marijuana Commercial Loans. Marijuana As Collateral Is THE Issue.
- Five Tips For Securing Investment Funds For Your Cannabis Business
- Cannabis Banking: Is Bitcoin the Answer?
- Marijuana Business Valuations: Still Mostly an Art, not a Science
- Cannabis Banking Laws That Work. Maybe Soon.
For more information on the webinar and to register, go here.