Providing Financial Services to Customers Involved in Hemp-Related Businesses and to Marijuana-Related Enterprises – ON-DEMAND WEBINARS

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SKU: SWBMH Category:
Overview

Recorded: March 2, 2021

Presented by: Mr. Mark Dever, CAMS, Vice President and Senior Consultant, FORVIS

A ninety-minute webinar to update members of the sales and compliance communities on the opportunities and challenges presented when banking customers are involved in the growth and production of Hemp, and to banking Marijuana-Related Enterprises. With over half of the states legalizing some form of Marijuana, and with most of the states issuing regulations governing the growth and cultivation of Hemp, these customers need and want banking products and services. The Agencies issued guidance on providing financial products and services to Hemp-Related Businesses in December 2019. FinCEN issued Guidance covering the BSA Expectations for those financial institutions wishing to provide products and services to Marijuana-Related Businesses in 2014. This webinar will review the documents and highlight the opportunities presented when banking these clients.

HERE IS WHAT YOU WILL 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;
  • 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 ninety-minute 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 beneficial to members of the product management, sales, and compliance communities, and it will also assist with meeting their annual BSA training requirements. The webinar will also be helpful to senior audit manager

Program Level: Basic

Prerequisite/Advanced Preparation: Basic Knowledge of BSA/AML Regulations

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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