To Sunday, June 16, 2019 - 04:30pm
The Hemp Farming Act of 2018, as passed in the 2018 Farm Bill, allows farmers to legally grow industrial hemp and makes cannabidiol (CBD) – a hemp byproduct – legal at the federal level. This is big news! Subject to state law, financial institutions can begin opening accounts and lending to industrial hemp and CBD-related businesses. But many questions remain. How can you distinguish a legal hemp crop from an illegal one? What ongoing due diligence and reporting will be expected? What are the SAR implications? Join this informational session to learn the answers to these questions and more!
- What was legalized under the Hemp Farming Act
- Understanding what is and isn’t permitted under your state’s law
- Initial and ongoing due diligence to detect and monitor hemp and CBD activity
- Suspicious activity reporting requirements
- Legislation on the horizon for banking marijuana-related businesses
- TAKE-AWAY TOOLKIT
- Sample policy language
- Hemp/CBD enhanced due diligence worksheet
- Employee training log
- NEW – Interactive quiz
WHO SHOULD ATTEND?
This informative session will benefit new accounts personnel, branch managers, operations personnel, BSA officers, and compliance officers.
SPEAKER: Dawn Kincaid, Brode Consulting Services, Inc.
Dawn Kincaid began her banking career while attending The Ohio State University. She has 17 years’ experience in client service, operations, information technology, administrative and board relations, marketing, and compliance. Most recently Dawn served as the Senior Vice President of Operations for a central-Ohio-based community bank, where she created and refined policies and procedures, conducted self-audits and risk assessments, and organized implementation of new products and services. Dawn has served in the roles of Compliance, BSA/AML, CRA, Privacy, and Security Officer. She has led training initiatives, prepared due diligence information, completed a variety of regulatory applications, coordinated internal and external audits and exams, and presented for numerous state associations.