In the past two weeks, the SEC has temporarily suspended two marijuana stocks that trade on the OTC Markets. The suspensions lasting until June 5, involved, respectively, a questionable press release concerning a proposed acquisition and a lack of information provided to investors concerning the company’s controlling interests. While specific to these two companies, it
Taking Control: Oregon SB 1057
The Oregon Legislature recently passed Senate Bill 1057, which currently sits on the Governor’s desk awaiting her signature. The bill primarily addresses the Oregon Liquor Control Commission’s (OLCC) control over the state’s medical cannabis program and includes seed-to-sale tracking requirements for cannabis businesses. Two notable provisions would affect adult-use cannabis businesses operating in Oregon:
Regulating
But Officer, I Only Had One Joint, and It Was Legal!
Adult consumption of marijuana for medical or recreational purposes is legal in many states, including Washington State. Consumption also effectively is decriminalized (but still illegal) in British Columbia, Amsterdam, and other cities and provinces. Yet foreign citizens who have ever smoked pot or consumed any type of cannabis — even where it is legal —
DOJ Fires a Warning Shot: New Federal Charging and Sentencing Policy
On May 10, 2017, Attorney General Jeff Sessions issued a memorandum establishing revised charging and sentencing policy applicable to the Department of Justice (the “Charging Memo”). The Washington Post quotes the Attorney General as saying “We are returning to the enforcement of the laws as passed by Congress, plain and simple.” Further, “These are drug
Medicinal marijuana patients’ protection from federal enforcement extended through the end of the fiscal year on September 30.
In the past five years, twenty-nine states and the District of Columbia (DC) have voted to legalize medicinal marijuana; and seven states and DC have legalized recreational marijuana use. The federal government has historically classified cannabis, whether in the form of marijuana, hashish or hash oil, as an illegal controlled substance. However, in 2011, the Department of Justice (DOJ) changed its policy regarding the enforcement of the Controlled Substances Act in states where marijuana is legal. The Cole Memo explained the DOJ’s new policy of not prosecuting or seizing assets from marijuana businesses and users that complied with state law.
Continue Reading Medicinal marijuana patients’ protection from federal enforcement extended through the end of the fiscal year on September 30.
What Oregon Producers Need to Know Before Their Bump Arrives
On April 28, 2017, the Oregon Liquor Control Commission (OLCC) approved rules allowing licensed recreational cannabis growers to also grow for Oregon Medical Marijuana Program (OMMP) cardholders. The OLCC’s authority to regulate canopy sizes, including the authority to shrink sizes, is found in ORS 475B.075(c). The rules go into effect May 1, 2017, and will
Chaos Theory, the Butterfly Effect and One More Banking Hurdle?
Oregon Gov. Kate Brown recently signed into law Senate Bill 863. The bill attracted bi-partisan support as it moved through the legislature and is well intended. The bill protects consumer names, addresses and other personally identifiable information. Patrons of adult-use cannabis retailers in Oregon no longer have to worry about whether or not their information will be recorded or transmitted to a third party.
Continue Reading Chaos Theory, the Butterfly Effect and One More Banking Hurdle?
Oregon Cannabis Producers Need to ‘Grow Up’ and Respect Boundaries
The regulated cannabis industry is growing exponentially. Regulators, with the help of industry leaders and advisors, are demanding that the industry “grow up” and embrace the realities of functioning in a highly-regulated environment. Adolescent behavior will not be tolerated.
Continue Reading Oregon Cannabis Producers Need to ‘Grow Up’ and Respect Boundaries
If More States Vote ‘Green’ This November, Some Believe It Could Be ‘The Beginning of the End of the War On Marijuana’
Next month, voters in five more states will decide whether to legalize recreational marijuana. As reported by The New York Times in an insightful article on this issue, some legalization advocates hope a (green) thumbs up from voters in these states (California, Massachusetts, Maine, Arizona and Nevada) will blow enough smoke in the face of “the war on marijuana” to help bring about nationwide legalization. In fact, the lieutenant governor of California is quoted in the article as believing that legalization in California’s ginormous economy will “put more pressure on Mexico and Latin America” to also consider legalization.
Continue Reading If More States Vote ‘Green’ This November, Some Believe It Could Be ‘The Beginning of the End of the War On Marijuana’
OLCC Eases Transition From Medical to Recreational Marijuana Sectors (and Releases Related Business Resources)
The Oregon Liquor Control Commission (OLCC) recently adopted new rules designed to ease the transition from the Oregon Medical Marijuana Program (OMMP) to the OLCC regulated recreational marijuana industry. The rules address concerns about a shortage of OLCC licensed retail outlets, which impacts the viability of licensed growers and processors, as well as concerns about a shortage of supply as those growers and processors get up and running.
The rules (OAR 845-025-2910 and -3310) allow OMMP dispensaries and processors to transfer OMMP inventory acquired before October 1, 2016, to OLCC licensed retail and processing operations. Transferred inventory will enter the seed-to-sale tracking system and must be sold by March 1, 2017.Continue Reading OLCC Eases Transition From Medical to Recreational Marijuana Sectors (and Releases Related Business Resources)