Welcome to your quarterly rundown of the latest legal, policy, and market happenings in the cannabis and hemp industry.
The Cresco and Columbia Care Fallout: How Credit Monitoring Could Have Prevented It
By Robert Hoban
The Cresco and Columbia Care Fallout: How Credit Monitoring Could Have Prevented Partnerships, collaborations, mergers, and acquisitions can pave the way for growth and innovation in the rapidly evolving landscape of the cannabis industry. However, as the recent Cresco and Columbia Care fallout demonstrated, even the most promising partnerships can crumble if not carefully managed. Without a certain level of transparency, and a way to know what potential misalignments might exist ahead, the two industry giants were forced to cancel their partnership after 16 months of “dating.”
Read the full article here.
Maximize Your Cannabusiness Success: Secure Trademark Rights
By Adam J. Fromm
December 20, 2023 is the fifth anniversary of the 2018 Farm Bill, which legalized hemp in the United States. It is an important date for cannabusiness trademark owners that wish to maintain and enhance these critical assets and for those looking to establish new trademarks.
Read the full article here.
Comprehensive Reforms Must Start with Safe Banking
By Michael Cristalli
Failure to pass comprehensive federal cannabis reform will cause continued decline in the value of cannabis companies and fuel an already emboldened black market industry. There are currently 44 states with some form of cannabis legalization — and additional legalization on the horizon. The cannabis industry has grown to over a $40 billion dollar industry with significant tax dollars going to the states and the federal government. So why is cannabis reform taking so long and what is the result of failed legislation?
Read the full article here.
Q3 2023 in the Cannabis Industry Group:
Michigan Cannabis Regulatory Agency Proposes Administrative Rule Revisions
By: Stephen A. Campbell
The Michigan Cannabis Regulatory Agency (“CRA”) recently filed a Request for Rulemaking to formally begin the process of updating Michigan’s Marihuana Rules (Mich Admin Code, R 420.1 to 420.1004). In an effort to promote transparency and communication with industry stakeholders, the CRA is accepting feedback on its proposed changes at this early stage in the rulemaking process.
A Stepping Stone for German Cannabis Law?
By: Michael A. Walsh
The German Ministry for Health has this month published a draft bill on the subject of cannabis legalization. The draft legislation is of course a diluted version of the original ambitious plans, which faced opposition at the European level.
Understanding Requirements of the Amended Illinois Equal Pay Act
By: Samantha Rothman
On May 17, 2023, the Illinois Legislature passed HB3129 which amends the Illinois Equal Pay Act. The amendments now make it unlawful for employers with 15 or more employees to fail to include a description of the benefits and pay scale for a position in any specific job posting.
The Cutting Edge in Cannabis Law:
U.S. Senate Committee Approves Bipartisan Marijuana Banking Bill, Sending It To The Floor
HHS Recommends that Marijuana be Reclassified as Schedule III Controlled Substance
US Congressman Introduces Bill to Withhold Federal Funding from States, Tribes with Adult-Use Cannabis Programs
Senators Push to Pass Cannabis Banking Bill after Marijuana Rescheduling
New York Bipartisan Lawmakers Call on Governor to Sign ‘Cannabis Crop Rescue Act’ as 250,000 Pounds Sit to Rot
Industry Players Spearhead Financial Stability for California Cannabis Coalition to Solve Statewide Debt Crisis
Proposed Michigan Regulations Would Deny Cannabis Licenses to Businesses That Don’t Pay Their Vendors
