Hal Snow Discusses with Puget Sound Business Journal on the Surprises and Growth of the Marijuana Industry
Hal Snow shares his views with Puget Sound Business Journal’s Emily Parkhurst on the surprises, progress of the burgeoning marijuana business, and points confronted by the business akin to placing collectively financing buildings, non-Washington residents not being allowed to spend money on corporations, and the wrestle in dealing with banking points. Hal additionally discusses how GSB’s Cannabis follow group got here to fruition with their group of skilled and devoted attorneys with backgrounds starting from enterprise regulation, M&A, land use, actual property and regulatory, and additionally their expertise in serving to corporations navigate the complexities of extremely regulated industries.
Read the article right here (subscription required): http://www.bizjournals.com/seattle/print-edition/2016/02/12/su
Warning Regarding Federal Law: The possession, distribution, and manufacturing of marijuana is prohibited beneath federal regulation, regardless of state regulation which can, in some jurisdictions, decriminalize such exercise beneath sure circumstances. Penalties for violating federal drug legal guidelines are very critical. For instance, a conviction on a cost of conspiracy to promote medicine carries a compulsory minimal jail time period of 5 years for a primary offense and, relying on the amount of marijuana concerned, the advantageous for such a conviction might be as excessive as $10 million. In addition, the federal authorities might seize, and search the civil forfeiture of, the actual or private property used to facilitate the sale of marijuana in addition to the cash or different proceeds from the sale. Although the U.S. Department of Justice has famous that an efficient state regulatory system, and a marijuana operation’s compliance with such a system, ought to be thought-about in the train of investigative and prosecutorial discretion, its authority to prosecute violations of federal regulation isn’t diminished by the passage of state legal guidelines which can decriminalize such exercise. Indeed, because of the federal authorities’s jurisdiction over interstate commerce, when companies present providers to marijuana producers, processors or distributors situated in a number of states, they probably face a better degree of scrutiny from federal authorities than do their clients with native operations.