Braden Perry Discusses New Developments for Hemp Business Banking

Braden Perry Discusses New Developments for Hemp Business Banking

Kansas City Business Journal features Perry in an article about the Federal banking regulators, and the recently removed restrictions on industrial hemp business banking. A letter was issued addressing the legality of banking in the industrial hemp industry stating that these businesses should be treated like any other business.  However, it is likely some banks will continue to treat industrial hemp businesses as high-risk enterprises.

“Overall for banks, this is a great deal,” Perry said. “It essentially clarified that just because you’re in the hemp industry, it’s not a suspicious activity that a bank needs to report. It’s clear guidance that hemp is legal under the 2018 Farm Bill and should be treated as any other legal business.”

But just because hemp is legal, it doesn’t mean banks abandon their hesitations about the industry, Perry said. Even banks that work with hemp companies now probably will continue treating them as high risk.”

To read more about what Perry has to say on this topic follow this link: https://www.bizjournals.com/kansascity/news/2019/12/06/industrial-hemp-industry-federal-banking-rules.html?iana=hpmvp_kan_news_headline

About Kennyhertz Perry’s Hemp and CBD Regulatory Practice Group

Kennyhertz Perry advises clients on a wide range of hemp and CBD compliance and regulatory matters.  Kennyhertz Perry has broad experience assisting clients with business formation and compliance in highly-regulated industries.

Kennyhertz Perry partner Braden Perry spent time as a Senior Trial Attorney with the Commodity Futures Trading Commission and is highly qualified to assist with the banking and other financial issues related to the hemp and CBD industry.

Kennyhertz Perry partner John Kennyhertz is former a in-house counsel at a private equity firm, and has structured transactions for very small and very large clients alike. He has substantial experience in highly-regulated industries such as online lending, and industries with rapidly-evolving regulations, such as cryptocurrency. He provides hemp and CBD operational and compliance counseling, and offers advice on appropriate modifications of transaction structure and documentation.

Kennyhertz Perry attorney Ben Tompkins is a former federal prosecutor in Los Angeles as well as serving as tax enforcement counsel for the U.S. Department of Justice. He is well equipped to provide advice regarding the changing tax landscape in the hemp and CBD industry.

Kennyhertz Perry attorney Arthur Chaykin is a former law school professor and head of litigation at Sprint. He is an expert on intellectual property law, and devises creative solutions to protect client’s IP in the hemp and CBD industry, even when certain federal protections are unavailable.

Kennyhertz Perry attorney Jeff Donoho is an expert in small business formation and government compliance. His knowledge of the labyrinthine hemp and CBD regulatory landscape helps him provide detailed guidance to clients.

Kennyhertz Perry attorney Mit Winter is a former partner at an AmLaw 100 law firm.  An expert litigator, his skill in anticipating issues before they become serious problems is valuable to all clients, and particularly those in the hemp and CBD industry.

Kennyhertz Perry attorney Jon Dedon has advised numerous clients in Kansas and Missouri specifically on state and federal hemp and CBD regulatory compliance matters. He understands the current state of federal and state regulations, and makes it his job is to stay on top of the latest developments in this fast developing area.

Clients also benefit from Kennyhertz Perry’s experience in related areas of law, such as litigation, banking, securities, tax, intellectual property, employment, insurance, and its regular practice before the Missouri administrative agencies and courts. Hemp and CBD clients choose Kennyhertz Perry because the firm’s lawyers tailor their advice to the unique issues presented by each matter they handle.

To learn more about Kennyhertz Perry, LLC, please visit kennyhertzperry.com.

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