Banking Marijuana – Related Enterprises (MRES) and Hemp Related Businesses (HRBS) – ON-DEMAND WEBINARS


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SKU: SWMHRE Category:

Recorded: December 21, 2021

Presented by: Mark Dever, CAMS, VP and Senior Consultant, FORVIS

A two-hour webinar to update members of the sales and compliance communities on the opportunities and challenges presented when banking clients involved in Marijuana-Related Enterprises, and in the growth and production of Hemp. Since the election in November 2020, numerous States have updated their “positions” on legalized marijuana, bringing to 37 the total number of states that have legalized some form of marijuana. In addition, most States have issued regulations governing the growth, cultivation, and production of Hemp. Clients involved in both enterprises need and want banking products and services. The Agencies have issued guidance on providing financial products and services to both Hemp-related Businesses and marijuana-related enterprises. This webinar will review the documents and highlight the opportunities presented when banking these clients.

Here’s What You’ll Learn:

  • Marijuana and CBD / Hemp – similarities and differences;
  • FinCEN Guidance on banking Marijuana-Related Enterprises;
  • Agencies’ Clarification on the Requirements for Providing Financial Services to Hemp-Related Businesses;
  • FinCEN Guidance on due diligence for hemp-related clients;
  • Opportunities;
  • Challenges / Issues; and
  • Feedback from seminar attendees involved in providing such services.

Recent well-publicized BSA enforcement actions, fines, and deferred prosecution agreements continue to support a climate proving BSA compliance remains of paramount importance to all financial institutions. This two-hour webinar from FORVIS will provide the compliance, sales, and product staffs with a current “snapshot” of the challenges and opportunities presented when providing products and services to customers involved in both Marijuana and Hemp/CBD,

Who Should Listen

This webinar will be of most value to members of the product management, sales, and compliance communities, and it will also assist them in meeting their annual BSA training requirements. The webinar will also be helpful to senior audit managers.

Program Level: Basic

Prerequisite: Basic Knowledge of Anti-Money Laundering and Bank Secrecy Act

Advanced Preparation: None

Field of Study: Specialized Knowledge

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Any recording, transmission, retransmission, or republishing of any portion of this webinar is prohibited.

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