Compliance in the beginning was just a "four letter word" and still is in new markets. Early on, we saw the word "compliance" become a buzzword as enforcement took down major players in older markets like Colorado. Everyone, all of a sudden - overnight - became "compliant" or claimed to be. Operators still act like they care about proactive compliance, but few actually manage it well or fully unpack the buzzword.

We've evolved by realizing we can't lead everyone to the waters and expect them to drink and to be selective about which clients we help position as leaders for everyone else to follow. This has allowed us to not waste our time or client's money since you can't work with people who don't truly care about doing the boring and tedious work necessary for long term success and risk mitigation.

These days, we've evolved the conversation beyond the buzzword and reactionary culture to one that values proactive compliance management of processes, people, and macro and micro areas of compliance. We've made it easier to understand and simple for clients to choose their level of protection over the long run. We are a part of their every day struggle to comply and help them achieve compliance objectives and protect themselves.

The future looks like cGAP, cGMP, and ISO standards and international commerce in which we're positioned as global leaders for success.

Rumors are flying that the BCC may mandate third-party compliance for full transparency. In my 10 years of cannabis, we've seen regulators grow teeth and deliver on enforcment. At the end of the day, protecting your license is protecting your most valuable asset and we don't mess with reacting to non-compliance (too late). If you want to be proavtive, there's a ton we do prior to the state figuring it out which values companies higher and sets our clients apart from the competition. A penny on every dollar to protect the dollar makes 99% sense. 

BCC will require METRC which uploads a daily count - easily reconcilable on any inspection or audit. This is just one example of many reporting requirements in the emergency rules and to come later. If you're a potential client that values proactive compliance as a budget item, we'd be glad to chat. Otherwise, best of luck reacting and thinking your compliance is "good enough" . Most people buzz word it and never take the time to unpack what compliance really means and the value of high standards. 

Glad your're thinking about it now, and having third-party validation means you're always ready to upload macro and micro compliance proof to any agency at any time.

My reaction is that PNC is overreacting. It is possible they felt the pressure from regulators, but having held these accounts for years, they have a history that would likely reflect small dollar donations that pose a small risk. If the bank were to instill a compliance program for marijuana related businesses (MRB's) they could mitigate this regulatory risk with the Feds. As long as the business is ancillary, it should be insulated from the RICO act and money laundering. Indeed, the definition of an MRB often only extends to the direct-plant businesses and can vary from bank to bank to also encompass ancillary companies. Or, now, non-profit advocacy organizations. Banks are by nature, risk adverse, so I'm not shocked - though it is a bummer for the organizations affected and the movement overall.