Major US Banks are Opening Cannabis Accounts

According to this piece in the Fresh Toast, America’s four largest banks have been actively opening accounts for medical marijuana dispensaries. The article mentions a study done by MRB Monitor, which found that in Massachusetts alone, more than a third of those applying to get dispensary licenses had bank accounts either at Bank of America,

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Trump Sued Over Executive Order to Reduce Regulations

A number of liberal groups filed a lawsuit today to challenge Pres. Trump’s January 30 executive order that for every new regulation an agency must eliminate two old regulations. The lawsuit says it requires agencies to be “arbitrary,” which they would not be allowed to do if true. It also says the order is outside

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Wow! Dow 20,000

What a ride it’s been. In March 2009 at the nadir of the last bear market, the Dow Jones Industrial Average hit 6547, the lowest it had been in 12 years. Today the Dow hit 20,000 for the first time. So if you invested at that low you’ve tripled your money in the last 8

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Times Editorial Urges Trump to Widen Cannabis Research

The old gray lady, The New York Times, wrote an editorial last week encouraging the Trump Administration to significantly expand the opportunity for US researchers to grow and study cannabis. It reminded me a bit of the 2013 Sanjay Gupta MD special on cannabis on CNN. Gupta originally believed that pot is dangerous, a gateway drug,

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Sessions Backs Off Cannabis Criticism

At his confirmation hearing to become the next US Attorney General yesterday, Alabama Sen. Jeff Sessions seemed to soften his previous extreme views against legalization of cannabis. As we know, recently Sessions said things like “Good people don’t smoke marijuana” and it is “not the kind of thing that ought to be legalized.” Yesterday a

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Flash: Trump Picks M&A Lawyer to Head SEC

The Trump team just announced that they are going to nominate Jay Clayton of Sullivan & Cromwell to be the next Chairman of the SEC. Clayton is a prominent M&A attorney and dealmaker. Very different from the former prosecutor with no real securities experience who many said he was considering. Among other things Clayton represented

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Obama Signs SEC Small Business Advocate Act into Law

As expected, in one of his final acts in office a few weeks ago, Pres. Obama signed the SEC Small Business Advocate Act of 2016 into law. This bill had pretty wide bipartisan support in Congress. Like most good ideas, it’s pretty simple. It sets up an Office of the Advocate for Small Business Capital

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Mr. Trump and the SEC

First, happy new year to my faithful blogees! As President-elect Trump has been organizing his proposed Cabinet, we haven’t heard much yet about appointments to administrative agencies such as the Securities and Exchange Commission. Trump gets to appoint three open SEC commissioner spots out of five. The rule is no party can have more than 3

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SEC Issues Encouraging White Paper on Regulation A+ Performance

Following up on positive statements by senior SEC staffers at the recent PLI Securities Law seminar and the SEC small business forum in November, the Commission also recently issued a white paper on how things are going under updated Regulation A, now known as Regulation A+. The white paper can be viewed here. As we

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