The Massachusetts Department of Agricultural Resources (“MDAR”) and the state’s Department of Health (“DPH”) have issued new guidance on the sale of Hemp and Hemp-derived cannabanoids, (namely, CBD) products in Massachusetts.
The MDAR guidance applies to hemp and hemp-derived products. It establishes that the follow hemp-derived products can be sold in Massachusetts:
Massachusetts Secretary of State Bill Galvin and his Securities Division are increasingly turning their attention toward securities offerings in the cannabis industry, as demonstrated by the June 19, 2019 filing of the second enforcement action against a cannabis business in the last two months. The filing was accompanied by a statement from Galvin warning of future sweeps in the industry.
The latest enforcement action, brought against Positronic Farms,… More
Cresco Labs announced this week that United States antitrust regulators are seeking additional information about its anticipated acquisition of Origin House. Pursuant to the Hart-Scott-Rodino Antitrust Improvements Act of 1976, Cresco Labs was required to notify the U.S. Department of Justice Antitrust Division (the “Division”) of the transaction and to observe a waiting period while regulators reviewed the transaction. On June 10, the Division requested additional information regarding the proposed transaction.… More
The New Jersey Department of Health’s Medical Marijuana Program announced on Monday that it was seeking applications to license up to 108 additional Alternative Treatment Centers (ATCs). More specifically, the Department intends to license up to 24 cultivators, 30 manufacturers, and 54 dispensaries. The cultivator licenses will be divided into three different size categories: 5,000 square feet, 20,000 square feet, and 30,000 square feet. The purpose of sub-dividing the cultivation licenses by size is to create opportunities for small and medium-sized businesses to participate in the medical marijuana program.… More
Illinois is set to become the 11th state to legalize the recreational use of marijuana – and the first state to do so by legislation rather than by voter initiative – after the State House passed a legalization bill on Friday, May 31. Governor J.B. Pritzker campaigned for office on a pro-legalization platform, and is widely expected to sign the bill into law.
The bill would allow recreational sales to begin as soon as January 1,… More
On Friday, May 31, 2019 the U.S. Food and Drug Administration (“FDA” or “Agency”) held the widely anticipated hearing on scientific data and information about products containing cannabis or cannabis-derived compounds, including cannabidiol (“CBD”). This is the first public hearing since legalization of hemp in the 2018 Farm Bill. The Agency heard from approximately 140 speakers from diverse industries including, academia, agriculture, consumers, health professionals, and manufacturing companies who offered various perspectives on the safety of cannabis-derived compounds and CBD.… More
In light of increased national momentum involving the cannabis industry, we provide below an update of the current legislative state of affairs for cannabis including the highly anticipated public hearing hosted by the U.S. Food and Drug Administration (FDA) on May 31, 2019. The summary highlights hindrances faced by states in attempting to legalize marijuana and touches upon federal implications stemming from the Farm Bill .… More
Immigrants who undertake the cumbersome process of becoming a naturalized U.S. citizen need to establish their “good moral character” (“GMC”) as part of their applications. That just got harder for immigrants who work in the cannabis industry. The United States Citizenship and Immigration Services (“USCIS”) recently released policy guidance regarding “controlled substance-related activity and good moral character determinations.” The guidance clarifies that a violation of federal marijuana law “is generally a bar” to establishing GMC,… More
Last month, the House Financial Services Committee advanced a federal marijuana banking bill to the full House on a bi-partisan 45 to 15 vote. The “Secure and Fair Enforcement Banking Act” or “SAFE Banking Act” would prevent federal banking regulators from taking adverse actions against financial institutions solely due to an institution’s provision of financial services to state-legal cannabis businesses. The bill would also provide protections for financial institutions that do business with cannabis-industry service providers by declaring that proceeds from such providers do not constitute “proceeds from an unlawful activity.” And,… More
Partner Jesse Alderman will speak at The Cannabis Society Investor Conference on Wednesday, May 1, 2019. Foley Hoag is a sponsor and host of the event.
Panelists will discuss how to invest in the industry as well as how to build a cannabis brand.
Click here for more details and registration.