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FAIR LENDING and RECENT CHANGES
December 10, 2019
CANCELED – Deposit Regulations Unleashed
May 12, 2020Federal law makes it difficult for cannabis businesses to open checking, saving or loan accounts with federally insured financial institutions and/or credit unions. It has been nearly impossible for these businesses to wire funds, access lines of credit, or maintain payroll accounts. The result is an industry that has been forced to pay its bills, employees, supplies, and taxes in cash. However, recent federal and state proposals are aimed at increasing banking options for Florida marijuana businesses.
Does your organization have what it takes to onboard cannabis accounts? What bills are currently circulating in congress or have been passed? Are the right people adequately trained? If not, then they need to attend this seminar! Come learn about these current issues facing your organization.Learn how to mitigate your exposure to these risks. At this seminar, you will walk away with an understanding of the differences between marijuana, CBD, hemp and THC and their regulatory framework, an understanding of the legal and regulatory risks with banking marijuana businesses, and practical advice on assessing your internal controls and recommendations to improve them. You will also be in a better position to know what to do when you are ready to onboard cannabis businesses, their employees, and related businesses (fertilizer companies, shed vendors, doctors, pharmacies, etc.). Whether you intend to open accounts and/or lend to cannabis related businesses – or are just curious, this seminar will provide you with valuable information to support your risk assessment.
Seminar specifics will include:
- The Impact of the 2018 Farm Bill-Agriculture Improvement Act & the Differences between Hemp, CBD, and Marijuana;
- Update on Florida’s Medical Marijuana, Hemp/CBD Regulatory Framework – Rules and Regulations;
- Regulatory Panel and Interactive Q&A: Regulatory Environment and Risk Management Considerations for Banking Marijuana Related Businesses (MRBs)
- Date: February 11, 2020
Registration: 8:00 am – 9:00 am
Program: 9:00 am – 4:00 pm
Lunch: 12:00 pm – 1:00 pm - Location:
Miami Airport Marriott
1201 NW LeJeune Road
Miami,FL 33126 - Early registration on or before February 10, 2020 at 5:00 pm:
Member $225.00
Non-Member $250.00 - At door registration:
Member $250.00
Non-Member $275.00
Speaker
We are very excited to welcome industry-leading experts to speak on these topics.
Jennifer D. Newton, Corporate Attorney with Greenberg Traurig, P.A.,
Jennifer leads a team of consultants who provide risk advisory services on banking regulatory and consumer financial service compliance matters. Before joining Greenberg, Jennifer served as an enforcement attorney at the U.S. Consumer Financial Protection Bureau in Washington, DC. With her combined experience in the federal government, law firm, and in-house compliance positions, Jennifer offers an uncommonly broad range and depth of consumer compliance expertise in banking and financial service matters.
She regularly advises clients on a variety of banking and compliance matters across established and emerging business lines. Her background in navigating challenging regulatory pathways in new financial markets serves her well as she assists banks and fintech clients with matters related to consumer protection issues, emerging payments systems issues, ecommerce, cannabis banking, data breach and federal and state privacy law.Well-respected by her peers, Jennifer has been featured in several publications such as the Daily Business Review, American Banker, Bankrate, Techtarget and JDSupra and she frequently speaks at prominent industry conferences. Jennifer was named by Legacy Magazine as one of South Florida’s Most Powerful and Influential Black Leaders and selected for inclusion in the National Black Lawyers’ “Top 40 under 40” in Banking and Finance in 2016, 2017, and 2018.
Jennifer is a fellow of the American Bar Foundation and a graduate of Leadership Florida and the Florida Bar William Reece Smith Jr. Leadership Academy.
Justin M. L. Stern is an Associate with Duane Morris LLP in the firm’s Miami office
Justin is a member of the firm’s Trial Practice Group and its Cannabis Industry Group. Focused primarily on commercial litigation and compliance matters, he routinely provides regulatory advice to businesses in the cannabis industry, from “plant-touching” companies to ancillary businesses. Justin is well-versed in the developing state and federal legislative and regulatory landscapes governing the manufacture and sale of cannabis products (both marijuana and hemp) and counsels cannabis businesses on issues related to the cultivation, processing, packaging, distribution and retail sale of cannabis-derived products.
Ari H. Gerstin is a Partner with Akerman LLP in the firm’s Miami office.
Ari is member of Akerman’s Cannabis Practice, which provides counsel to clients on the legal and business issues impacting companies with interests in the legal cannabis sector. Recognized in 2018 by the National Law Journal as one of the country’s “Cannabis Law Trailblazers” and in 2019 by the Daily Business Review as a “Florida Trailblazer,” Ari counsels clients seeking to apply for, purchase, and sell cannabis cultivation, processing, and dispensing licenses and advises investors and industry participants regarding diligence and compliance matters. In addition, Ari has significant experience litigating issues arising under to state cannabis laws. Notably, Ari currently represents a prospective medical marijuana treatment center in high-profile litigation challenging the State of Florida’s implementation of the Medical Marijuana Amendment (a/k/a Amendment 2), which has resulted in a determination that the implementing statute is unconstitutional. Ari also currently represents a medical marijuana patient diagnosed with stage IV cancer that is challenging the constitutionality of the State of Florida’s ban on the medical use of fresh raw marijuana plant material.
Who Should Attend?
CEO, Presidents, BSA/AML Officer, Internal and External Auditors, BSA/AML Department staff, Fraud Department staff, Information Security Officer, Law Enforcement, Legal Counsel, Consultants, Lending Officers, Wealth Manager Staff, Operations Officer, and anyone having responsibilities over on boarding activities.
Panel
Jeremy W. Smith, Director, Division of Financial Institutions, joined the Office of Financial Regulation (OFR) in 2011.
He worked as an Analyst, Financial Administrator, and Bureau Chief of Bank Regulation prior to becoming the Director of the Division of Financial Institutions in April 2017. Mr. Smith brings management experience and provides effective leadership in the Division. Through his leadership efforts, he has implemented cost savings and streamlined business functions to better regulate financial institutions. He is a graduate of Florida Atlantic University where he earned a Bachelor’s degree in accounting. Mr. Smith is a 2015 graduate of the Florida School of Banking with academic honors. During his tenure with OFR he has worked closely with industry groups to modernize Florida Statutes, Rules and Forms pertaining to the regulation of Financial Institutions.
Rick MacNamara is a director of anti-money laundering risk supervision at the Miami Branch of the Federal Reserve Bank of Atlanta
Where he manages a risk identification and examination team. He developed his anti-money laundering background during his 14 years in International Supervision where he oversaw a portfolio of foreign banking organizations located in Miami, Florida and managed a unit that provided surveillance and examination support. Mr. MacNamara joined the Supervision and Regulation Department of the Bank in 1992 where he has been involved in commercial bank examination and bank holding company inspections. Prior to joining the Federal Reserve Bank of Atlanta, he worked in the banking industry as an internal auditor, financial analyst, and lending officer. Mr. MacNamara is an instructor at Federal Reserve System examination schools, both domestic and overseas, and regularly speaks at banking and regulatory conferences. During his career at the Atlanta Reserve Bank, he has participated in a number of System, Bank and Division committees and projects, including the development of System training programs on bank analysis and foreign bank supervision. Mr. MacNamara is a certified instructor for the Federal Reserve System’s Team Dynamics and Negotiations School, which was developed by the leadership development consulting firm, Blessing-White. Mr. MacNamara is a native of Philadelphia, Pennsylvania and is a graduate of the University of Florida with a Bachelors of Science degree in Business Administration.
Danielle Dudai is a former prosecutor for the Office of Statewide Prosecution
Currently, she runs her own firm handling business law and litigation matters, and has expanded into niche areas like cannabis and CBD law. Prior to June 2019, Ms. Dudai was the lead human trafficking prosecutor for the Office of Statewide Prosecution in South Florida from 2016-2019, and investigated and prosecuted primarily human trafficking and money laundering offenses. She also has extensive knowledge regarding internet based offenses and cryptocurrency. She has been teaching law enforcement on matters of cryptocurrency, money laundering and human trafficking for several years. Prior to her tenure at the Office of Statewide Prosecution, Ms. Dudai was a prosecutor at the Broward State Attorney’s Office, where she began her career in 2010. In 2014, she founded the human trafficking prosecution unit in Broward and served as the sole prosecutor handling human trafficking investigations from 2014-2016, successfully prosecuting the first RICO human trafficking case at the State level in Broward. Ms. Dudai has her B.B.A. from the University of Miami, 2006, and her J.D. from Nova Southeastern University, 2010.
Mike Kennedy is a Co-founder and the Head of Product & Strategy at Green Check Verified,
A technology-enabled solution for banking the cannabis industry. Mike’s background is in helping community financial institutions leverage technology to better manage their compliance and risk functions. Having worked with hundreds of FIs all across the country, Mike deeply understands the cost and complexities involved with maintaining compliance. This experience drives Mike and his team’s mission of helping FIs reduce their regulatory burden and build competitive advantages by tapping into new markets.