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2.15 MB
Extraction Summary
0
People
7
Organizations
1
Locations
1
Events
1
Relationships
3
Quotes
Document Information
Type:
Investment bank report / legal analysis page
File Size:
2.15 MB
Summary
This document is page 77 of a 2017 report by Ackrell Capital, LLC, discussing the U.S. legal landscape for the cannabis industry. It specifically details the Bank Secrecy Act (BSA), money laundering statutes, and the 2014 FinCEN Memo regarding how financial institutions should handle marijuana-related businesses and file Suspicious Activity Reports (SARs). The document bears a 'HOUSE_OVERSIGHT' Bates stamp, suggesting it was part of a document production for a congressional investigation, though the text itself does not mention Jeffrey Epstein.
Organizations (7)
| Name | Type | Context |
|---|---|---|
| Ackrell Capital, LLC |
Investment bank publishing the report (Header/Footer)
|
|
| FDA |
Mentioned regarding enforcement priorities and public health
|
|
| Financial Crimes Enforcement Network (FinCEN) |
Bureau of the U.S. Treasury charged with administering the BSA
|
|
| U.S. Department of the Treasury |
Parent organization of FinCEN
|
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| FINRA |
Ackrell Capital is a member (Footer)
|
|
| SIPC |
Ackrell Capital is a member (Footer)
|
|
| House Oversight Committee |
Implied by Bates stamp 'HOUSE_OVERSIGHT'
|
Timeline (1 events)
February 2014
Publication of the FinCEN Memo in coordination with the Cole Memo update.
USA
FinCEN
Locations (1)
| Location | Context |
|---|---|
|
Implied by 'U.S. Legal Landscape', 'Federal Laws', 'U.S. Treasury Department'
|
Relationships (1)
FinCEN... a bureau of the U.S. Department of the Treasury
Key Quotes (3)
"Violations of the federal money laundering statute may result in fines equal to twice the value of the property involved in the transaction (or $500,000, if greater) and imprisonment for up to 20 years."Source
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Quote #1
"Federal regulations under the BSA require financial institutions to file... a suspicious activity report (SAR) if the financial institution knows, suspects or has reason to suspect that a transaction... involves or is an attempt to disguise funds derived from illegal activity..."Source
HOUSE_OVERSIGHT_024713.jpg
Quote #2
"The FinCEN Memo directs each financial institution to consider its own business objectives and the risks associated with offering a particular product or service when considering whether to commence or continue a customer relationship with a marijuana-related business."Source
HOUSE_OVERSIGHT_024713.jpg
Quote #3
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