Banking and Marijuana: When Federal and State Laws Collide

Instructor: Warren R Markowitz
Product ID: 704025
  • Duration: 60 Min
In this training program, attendees will learn how to work with each other in a shifting environment in order to reduce compliance and oversight burdens. For a bank, the regulatory burden placed on operations is normally substantial but when cannabis related accounts are included the burden can be crushing. This course will discuss the ways in which business and oversight may support each other and provide for a profitable and compliant relationship with customers.

recorded version

1x Person - Unlimited viewing for 6 Months
(For multiple locations contact Customer Care)
Recorded Link and Ref. material will be available in My CO Section
Last Recorded Date: Nov-2015

Training CD / USB Drive

One CD/USB is for usage in one location only.
(For multiple locations contact Customer Care)
CD/USB and Ref. material will be shipped within 15 business days

Customer Care

Fax: +1-650-362-2367


Read Frequently Asked Questions

Why Should You Attend:

Marijuana has become a tax resource for states and a profit maker for those lucky enough to get the golden ticket. With almost half the states allowing marijuana in one form or another and schools, police, state and local governments benefiting from the resulting taxes, how we deal with the conflict between federal and state laws and the inherent conflicts in the banking system will determine how fast and successfully the industry, market and tax revenues grow.

Banking is the entry way into the financial markets for many. The common act of writing a check, using a debit card or even making an online banking transfer is just everyday things, but for the cannabis industry these opportunities can and have been denied.

While there are a handful of financial institutions that provide services to the industry, there remain substantial hurdles necessary to allow them to do so. In this webinar, the speaker will discuss the opportunities that the banking industry has to provide the services, the implications of doing so and how operators and participants in the cannabis industry can assist their bankers in complying with their obligations. The course will also discuss the benefits and applications of a risk model in an AML/BSA program and the necessary and effective use of risk models.

Areas Covered in the Webinar:

  • Overview of state law as it applies to the cannabis industry
  • Current stance of federal authorities; existing federal law and policy
  • Compliance obligations of banks providing financial services to operators
  • Operators obligations and compliance requirements to industry and institutions
  • Moving from a cash only system to one that is embraced by the current or future banking system

Who Will Benefit:

  • AML/BSA Officers
  • Compliance Officers
  • Compliance Analysts
  • Company Management
  • Audit Professionals
  • Industry Participants
  • Cannabis Operators
  • Bank Operations Personnel

Instructor Profile:

Warren R. Markowitz is a practicing attorney, litigator and veteran compliance officer. He has been involved in the U.S. financial arena since 1994. Mr. Markowitz has provided hands on, direct advisory services to domestic and international financial service providers in their dealings with federal and state oversight authorities and self-regulatory organizations, as both a lawyer and an advisor through numerous consulting and technology advisory firms. His experience with regulatory bodies has enabled him to provide effective and cutting edge real world references and perspectives when resolving existing matters and avoiding new ones. Because of his experiences, he approaches each challenge with the goal to advance the needs and opportunities of his clients.

Topic Background:

The cannabis industry exists in a legal grey area. Participants in the industry and those that provide support to it are potentially subject to the same criminal penalties and scrutiny. Therefore, if you are one of those, your compliance program is one of the most important factors in dealing with the authorities. By having a program that addresses the needs of the regulatory authorities, an operator is able to provide documentary support to those counterparties that have an interest in conducting business with you.

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BSA/AML/OFAC Risk Assessments
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Refund Policy

Registrants may cancel up to two working days prior to the course start date and will receive a letter of credit to be used towards a future course up to one year from date of issuance. ComplianceOnline would process/provide refund if the Live Webinar has been cancelled. The attendee could choose between the recorded version of the webinar or refund for any cancelled webinar. Refunds will not be given to participants who do not show up for the webinar. On-Demand Recordings can be requested in exchange.

Webinar may be cancelled due to lack of enrolment or unavoidable factors. Registrants will be notified 24hours in advance if a cancellation occurs. Substitutions can happen any time.

If you have any concern about the content of the webinar and not satisfied please contact us at below email or by call mentioning your feedback for resolution of the matter.

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