Financial Issues and Legal Challenges Faced by Cannabis Businesses

Wednesday, May 17, 2017 Industry Leadership Series

5:00 - 7:00 pm. •  180 Montgomery Street, 22nd Floor, San Francisco, CA 94104

Financial and Legal with CannabisPlease join us for a lively panel discussion on the current legal and financial environment surrounding cannabis businesses, including bank regulatory restrictions and compliance problems in dealing with these businesses; financing challenges and alternative funding and payment avenues; “start-up” business issues and business structure decisions; legal challenges with obtaining licenses and permits; ongoing conflicts between federal and state laws, and state and municipal restrictions; and challenges associated with varying stages of regulatory implementation.

Maureen A. Young, Senior Regulatory Counsel, Bank of the West

Tracy H. Brock, Bank Secrecy Act Officer, Senior Vice President, Bank of the West
Nicole Howell Neubert, Attorney and Principal, Clark Neubert, LLP
Loren Picard, Chief Executive Officer, The 42nd Group, Inc.


Bios of Speakers

Tracy H. Brock

Tracy Brock is bank secrecy act officer and senior vice president at Bank of the West. Mr. Brock, who joined the bank in 2015, is the board-appointed executive officer responsible for the enterprise strategy and execution of the bank’s Bank Secrecy Act (BSA), Anti-Money Laundering (AML) and Office of Foreign Asset Controls (OFAC) Sanctions program. He is a member of the bank’s Senior Management Committee and is the “Know Your Customer” domain head for the Americas. Mr. Brock has more than 25 years of compliance experience, and has an extensive background in the field of BSA Operations and regulatory examination policies and procedures. Immediately prior to joining the Bank, Mr. Brock was a key member of the compliance leadership team at MUFG Union Bank in San Francisco, where he served as managing director, head of BSA/AML/OFAC from 2013 to 2015.

Nicole Howell Neubert

Nicole Howell NeubertMs. Neubert is a California cannabis business attorney and principal of the cannabis law firm Clark Neubert LLP.  Amidst a rapidly changing legal environment, her incisiveness, fierce client commitment, and wide-ranging legal experience makes her uniquely qualified to advise operators through the transition from prohibition to regulation. Ms. Neubert is actively engaged in the regulatory implementation of California’s medical and adult-use licensing statutes (MCRSA & AUMA).  She serves as Policy Committee leadership for California Growers Association, on the board of California NORML, and as one of 16 members invited to serve on State Treasurer John Chiang’s Cannabis Banking Working Group.  Ms. Neubert regularly speaks on California cannabis law and teaches courses in legal business structures, MCRSA & AUMA at Oaksterdam University.

Loren Picard

Loren PicardMr. Picard is chief executive officer of The 42nd Group, Inc., a cannabis business development company.  Prior to this position, he provided consulting services to mortgage banking and fintech firms in the areas of business and product development.  Mr. Picard was a managing director with Redwood Trust (largest private U.S. RMBS issuer, NYSE:RWT) for nine years.  Prior to joining Redwood Trust, Mr. Picard held numerous positions in the real estate and banking industries.

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