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.
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.
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
Course Provider
Warren R Markowitz,
