Date/Time

Thursday, October 15th, 2020, noon to 2 MST

Level

Intermediate

Learning Objectives

  • Create transaction expectations with analysis of documents and track and trace data
  • Identify red flags AML analysts should consider in Due Diligence
  • Understanding best practices and techniques when reviewing documents and track and trace data.

Who Should Attend

  • Risk Managers
  • BSA/AML Officers
  • Compliance Officers
  • AML/KYC Analysts
  • Industry Consultants
  • Commercial Cannabis Compliance/Risk Officers
  • Regulator

Region

  • US

Industry

  • Banks
  • Credit Unions
  • Non-Bank Financial Institutions
  • Commercial Cannabis Businesses

Handout

In today’s evolving regulatory landscape, the requirements to offer banking services to commercial cannabis businesses (CCB) are complex at best. Whether internally managed or outsourced to a service provider, financial institutions are still ultimately responsible for the proper risk and Anti-Money Laundering management of these clients. Updating the financial institution’s due diligence requirements is one of the first areas that requires attention. Proper due diligence on a commercial cannabis business allows a financial institution to reasonably predict expected transactions, identify unusual activity, and understand the ownership and control of the commercial cannabis business.

This webinar will review risk-based considerations a financial institution should consider. Our expert panel includes North Bay Credit Union’s Chief Compliance Officer Carole McCormick, NatureTrak’s CEO Jontae James, and Clarion Compliance’s CEO Kirk Barry. Our panel will review the major documents, data, and red flag indicators in commercial cannabis business due diligence analysis. This webinar will focus on the unique risk issues associated with conducting due diligence on a commercial cannabis business.

Our panel will provide an in-depth analysis of documents, data, and red flags that are needed for due diligence. The panel will specifically review the certificate of analysis (COA), license reviews, and commercial cannabis entity types. They will also provide insight into the unique components of a commercial cannabis business site visit and track and trace data used for due diligence analysis of commercial cannabis businesses.

This is an ACCCE On Demand video, available immediately.

Continuing Education: 2 credits

moderator

Brion Nazzaro, CCCE

President - ACCCE

Bio

speakers

Carole McCormick

Chief Compliance Officer - North Bay Credit Union

Bio

Jontae James

Chief Executive Officer - NatureTrak

Bio

Kirk Barry, CCCE

Chief Executive Officer - Clarion Compliance

Bio