On August 29, 2013 Deputy Attorney General James Cole issued a memo concerning enforcement of the Controlled Substances Act “in light of state ballot initiatives that legalize under state law the possession of small amounts and provide for the regulation of marijuana production, processing, and sale.”1 The memo noted that “the federal government has traditionally…
Author: Joseph Guerra
Marijuana and Banks
On January 23, Attorney General Eric Holder announced that the federal government was taking steps towards making it easier for depository institutions to do business with marijuana sellers.1 Holder cited “public safety” concerns noting, “substantial amounts of cash just kind of lying around with no place for it to be appropriately deposited is something that…
Dodd-Frank and Hedge Funds
On July 21, 2010 Congress passed the Dodd-Frank Wall Street Reform and Consumer Protection Act. One of the more notable provisions contained in the act is referred to as the Volcker Rule. A portion of the Volcker Rule deals with the relationship between banking entities and hedge funds and/or private equity funds. The general rule…
The SEC Will Remain Open During the Government Shutdown
According to SEC spokesman John Nester, “The SEC will be able to stay open in the event of a funding lapse because we [the SEC] have carryover funds available.”1 According to Business Insider, “John Nester wouldn’t say how much cash the agency has,” however, the SEC issued a contingency plan for operating in the event…