Attorney General Jeff Sessions has rescinded the Obama-era position of the Federal government to not intervene in states that have legalized marijuana. Whether this ends up being a major, minor, or non-issue remains to be seen. This does, however, further encourage individual states and the owners/operators of canna-businesses to focus on compliance.
Colorado Governor John Hickenlooper is quoted as saying “My advice would be to make sure you comply with every regulation that we have.” For those of you who have braved to read the hundreds of pages of legal documentation in your state, or at least hired a lawyer to do so, you know full-well how exhausting a process it is to maintain compliance. And, the laws will continue to change.
Business operations across each area of the cannabis trade, including cultivators, manufacturers, distributors, and retailers, will all be faced with new and evolving challenges. The realm of compliance is only expected to toughen as states work diligently to do the right thing by protecting their local citizens while also appeasing the Federal government.
In the spirit of ensuring all of your hard work and the time you commit to your business on a daily basis is both protected and enhanced, the Flourish team has some fundamental suggestions:
- Make 100% sure your operational activities are documented
- Be prepared to be audited by having the ability to pull ALL of your records at a moment’s notice
- Partner with providers (lawyers, software companies, consultants, etc.) that are continuously up to date with the latest regulations
Now is the time to take inventory of your compliance status. How you conduct your business matters and the latest move from the Federal government reinforces the attention each state will be giving to compliance with their regulations. Cheers to a prosperous, and compliant, New Year!!
You can read the CNN article here: http://www.cnn.com/2018/01/04/politics/jeff-sessions-cole-memo/index.html