Remembering (the Second) Black Monday

Thirty years ago today, October 19, 1987, the Dow Jones Industrial Average crashed with a whopping 22.6% decline in prices, the second biggest one day drop in the market (the biggest was in 1914). I was a young lawyer working at a large law firm at the time. Young enough that I had no real

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SEC Proposes Disclosure Simplification

A week ago, the Securities and Exchange Commission, as required by the Fixing America’s Surface Transportation (FAST) Act, released a proposal to simplify and modernize Regulation S-K, which governs most public company disclosure. None of the proposals individually is that huge, but as a group they could noticeably ease the compliance burden. It includes things

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Vegas: What to Write When There Are No Words

Like so many, I have been simply stunned and shocked by the overwhelming, incomprehensible, devastating shooting tragedy in, ironically, the world’s playground, Las Vegas. This just two days after I happily posted surprising tax collecting success in the first month of Nevada’s legalized cannabis industry. Hundreds, sitting ducks, shot. 58 country music fans brutally murdered.

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Nevada Collects $3.5M in First Month of Cannabis Sales

Despite projecting no revenue in their first month of adult use sales of cannabis products in Nevada, the state just reported it received $3.5 million in taxes in July. Sales commenced July 1 amid some distribution challenges that were ultimately ironed out. The state is projecting about $120 million in total cannabis sales per year

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Kosher Cannabis? Now Available

According to the Marijuana Business Daily, a Quebec-based producer of medical cannabis has joined a New York medical cannabis licensee in obtaining certification of their products as kosher under Jewish dietary laws. This means that more observant Jews, who seek to restrict their diets to kosher foods, will be able to obtain medical cannabis from these

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SEC Small Business Advisory Committee Wraps Up Work

Last week the SEC’s Advisory Committee on Small and Emerging Companies finished its work. The Committee is anticipated to be succeeded by the new Small Business Capital Formation Advisory Committee mandated by statute. A few highlights of their final recommendations to the Commission (all good to me!): Private placement brokers – a more than 10

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House Overwhelmingly Passes Bill to Allow Reporting Companies to Use Reg A+

HR 2864, the “Improving Access to Capital Act,” passed the US House of Representatives on September 5, 2017 with a lopsided bipartisan vote of 403-3. The short bill directs the SEC to permit full Securities Exchange Act reporting companies to use Regulation A+ for a public offering. Previously, only non-reporting companies could utilize the new

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Netflix Launches Cannabis Products to Promote Shows

Netflix found an interesting way to promote their new show Disjointed, which will star Kathy Bates as the operator of a California cannabis dispensary. They partnered with a California medical cannabis seller to operate a pop-up shop selling 12 different cannabis strains named and developed based on 10 of Netflix’s shows. According to MJBizDaily, the 3-day

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Illegal Synthetic Cannabinoids’ Use Growing

Unfortunately, the use of synthetic cannabinoids has been growing worldwide and especially here in the US. Synthetic products, available over the Internet and inexpensive, start with natural herbs and flowers but add manufactured cannabinoids to create the “high.” The problem is that the synthetic product does not work the same as the natural cannabis plant,

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