Last week the Federal Reserve Board, FDIC, FinCEN, and the OCC, working with the Conference of State Bank Supervisors released a statement on Providing Financial Services to Customers Engaged in Hemp-Related Businesses.
A business can have documented procedures, but are they followed, or do they sit on a shelf collecting dust? Use these interview techniques to collect informnation that indicates processes and procedures are followed.
In a previous posting titled, Are Financial Services Available to the Cannabis Industry or Not?, I provided an overview of the Cole Memo priorities and the FinCEN requirements for a financial institution to work with the cannabis industry. Here is a deeper look at the Cole Memo priorities
If you think that banks, credit unions, and other financial institutions can't offer services to the cannabis industry, I'll explain otherwise.
If you want to create a process thinking mindset throughout the organization and manage-by-process, then this blog post is for you.
Audits, internal, external, assessments, inspections, certification are all terms that mean different things to different people. In this posting I will discuss different terms used in the field of auditing.
If an investor, a bank, or the licensing department shows up to assess your compliance, don't get caught off guard. Be prepared.
Is your operation in compliance? Are you thinking about a compliance audit. This overview will help you get started.
This FinCEN guidance clarifies how financial institutions can provide services to marijuana-related businesses consistent with their BSA obligations... read more
