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ACT Resources Cannabis News – August 2019

SAFE Banking Act gets hearing on Capitol Hill

Marijuana Business News
Cannabis stock rising globally

CVS pulls Curaleaf products after FDA warning letter

  • FDA called Curaleaf products “unapproved new drugs”
  • FDA regulatory uncertainty and continued decision-making process
  • CVS decision to remove the products
  • Implications for other CBD companies
  • Add info about FDA wanting to “speed up” its rule-setting process – AKA tease No. 5 below

Florida rules vertical integration is unconstitutional

  • What is vertical integration?
  • July 9 Florida 1st District Court of Appeals rejected the law that created a vertically integrated business model
  • Governor opposes vertical integration as well, calling it “against free market principles.”
  • Could this follow in other states? (Adam I thin Nevada had a similar debate before they allowed VI)
  • Adult-use cannabis legalization is on Florida’s 2020 ballot
Cannabis business
Marijuana worst month ever

Memo tells Texas to stop cannabis-related arrests

Lawmakers urge FDA to release CBD rules by September 30

  • Congress continues to urge the FDA to adopt CBD rules
  • Recap of the ongoing regulatory decision-making process
  • Implications of unclear regulations (e.g. Curaleaf and CVS)
  • Expectations as of today
Cannabis reefer marijuana