Posts in Yelena Maltser
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 Named Best Global Law Firm at Hedgeweek Global Awards 2019

Hedgeweek recently announced that Sadis & Goldberg LLP was named the best Global Law Firm at the 2019 Hedgeweek Awards. The annual Hedgeweek Global Awards recognize excellence among hedge fund managers and service providers celebrate the achievements of firms that contributed to another significant year for the sector. The awards were decided by a poll of Hedgeweek readers, who include both investors and managers as well as other industry professionals at firms including fund administrators, custodians, accountants and auditors, law firms, consultants and fund distributors.

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