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Finance and Banking Regulations

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225122 Nevada's Banking Bill is Not a Viable Solution Active State Carson City, NV, USA Carson City NV US Over the past few years, I’ve been an entrepreneur in the legal marijuana industry in Nevada and elsewhere. I can tell you firsthand how incredibly frustrating it can be to operate in an industry for which banking services are generally unavailable. Actions that most entrepreneurs take for granted, like making deposits, transferring payments, remitting employee payroll tax withholdings or sending earnings distributions to out-of-state investors, become incredibly difficult and dangerous when it all must be done by physically moving cash.

Unfortunately, however, the proposal would mostly fail to solve the legitimate needs of the industry and would not improve the physical safety at marijuana dispensaries. The reasons for this are not shortcomings of the legislation itself, per se, but limitations inherent to a banking system that is predominantly regulated at the federal level.

Understanding this history is important because any attempt at a marijuana bank in Nevada would likely run into similar complications. SB 437 essentially abandons hope of a marijuana bank receiving a Federal Reserve master account and only authorizes the bank to issue limited checks that would not go through the Fed clearinghouse. Those checks would only be payable to state and local governments for taxes and to certain in-state vendors who could only cash them at the marijuana bank. This means the marijuana bank would mostly be a glorified vault for marijuana businesses. This isn’t the type of fix that will improve the safety of marijuana businesses or their customers. The bill also requires the proposed bank or credit union to acquire deposit insurance. It’s unlikely that would happen unless the institution plans to serve a much broader population.

0000-00-00 00:00:00 0000-00-00 00:00:00 geofflawrence 2019-06-10 16:16:25 no 0 320011 Proj:225122 119 46990,857 51294,905 2019-06-10 16:48:23 39.1637984 No -119.7674034 Yes 225122 no Project banner 225122.jpg 0 0 0
525717 Improving Global Financial Services Regulation Active Global London, UK London Greater London England GB The UK must accept that it will no longer have a direct influence over the EU27 but that it can and should evolve its own regulations and work with other financial centres and international standard setters to create a more competitive regulatory environment globally.

The main weaknesses of the EU’s Equivalence regime are that EU Equivalence does not cover the entire spectrum of financial services, is granted unilaterally and can be unilaterally withdrawn, is not granted on purely user protection and market stabilisation concerns. and lacks transparent or consistent criteria for recognition.

0000-00-00 00:00:00 0000-00-00 00:00:00 ieauk 2018-05-11 03:43:15 no 0 314388 Proj:465672 119 47469,60003 51133 2018-07-10 06:50:21 51.5073509 No -0.1277583 Yes 83965 yes Project banner 525717.jpg 142794,9062966,490294 142794 0 0
62702 Comments on Draft Administrative Measures for Foreign-Invested Securities Active Global Washington, DC, USA Washington District of Columbia DC US On behalf of the more than 200 members of the US-China Business Council (USCBC), we appreciate the opportunity to provide comments to the China Securities Regulatory Commission (CSRC) on the Draft Administrative Measures for Foreign-Invested Securities Companies (the draft measures). We hope additional steps will be taken to ensure consultation with industry stakeholders on these comments before a final version of the measures is released. 0000-00-00 00:00:00 0000-00-00 00:00:00 uschinabusinesscouncil 2018-04-28 21:16:58 no 0 314041 Proj:680251 119 47464 51113 2018-06-08 12:00:13 38.9071923 No -77.0368707 Yes 794805 no Cityscape of Washington District of Columbia District of Columbia United States size-k.jpeg 0 0 0


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