Posts in Doug Hirsch
Cannabis Federal Legislative Update

The friction inherent in the divide between state and federal treatment of cannabis has been a major impediment to the growth and evolutionary development of the industry on a national integrated scale. Access to banking and financial markets, in particular, has been an issue for many businesses in the cannabis industry, as a result of the reluctance of many institutions in the banking sector to provide banking services to cannabis-related businesses and service providers. This is understandable, given the regulatory and compliance burdens (and uncertainty with regard to criminal liability) under the Bank Secrecy Act and relevant federal anti-money laundering laws and regulations, as well as other federal criminal statutes. Recent developments in Congress, however, suggest that there is bipartisan support among federal lawmakers to provide a way forward. Two pending bills-the Secure and Fair Enforcement Banking Act of 2019, H.R. 1595 (the "SAFE Banking Act") and the Strengthening the Tenth Amendment Through Entrusting States Act (the "STATES Act")-take slightly differing approaches, but the end result of both, if enacted, would be significant, and sweeping, cannabis reform at the federal level.

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Sadis & Goldberg LLP Expands Financial Services Litigation Practice

Sadis & Goldberg has expanded its litigation team with the addition of Counsel James Ancone. Mr. Ancone’s practice focuses on financial services litigation.  In particular, he has extensive experience advising clients, including liquidators, officers, and directors, involved in cross-border disputes.  He recently represented the officers and directors of a Cayman Islands reinsurance company in the Davis v. Scottish Re Grp. Ltd. shareholder action in the New York State Commercial Division. 

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