Banking & Financing in the Cannabis Industry

(895 Ratings)

Produced on: April 21, 2017

Course Format On Demand Audio

Taught by


Course Description

Time 60 minutes
Difficulty Intermediate

This course, taught by David Feldman, a partner at Duane Morris in New York City, provides an overview of financing for cannabis-related businesses and the unique banking issues they face. He begins with a brief overview of cannabis regulation, the interplay between state and federal law, and industry perceptions about what changes may come about under the new administration and Attorney General Sessions.

The program then focuses on the unique issues in raising capital for these companies, including the differences between businesses that “touch the plant” and those that do not, and reviews the challenges faced by public companies in the space. Mr. Feldman also addresses banking regulatory issues, including the Bank Secrecy Act, guidance on the issue from The Financial Crimes Enforcement Network (FinCEN) of the US Treasury Department, and how banks are reacting to that guidance.

Learning Objectives: 

  1. Understand the current statutory and regulatory landscape
  2. Explore the challenges of financing and banking in a rapidly growing but complex industry
  3. Identify best practices in advising cannabis clients on finance and banking questions 


David N. Feldman

Duane Morris LLP

David N. Feldman concentrates his practice on corporate and securities law and mergers and acquisitions, as well as general representation of public and private companies, entrepreneursinvestors, and private equity and venture capital firms. Mr. Feldman also advises emerging growth companies with regard to alternatives to traditional financing through initial public offerings. He is also considered an authority on public offerings through the recently implemented SEC Regulation A+. Mr. Feldman also represents investors, social media sites, public and private issuers and applicants for grow and dispensary licenses in the emerging cannabis industry.

Mr. Feldman has authored four books on finance and entrepreneurship, and contributed to three other books. His latest book, Regulation A+ and Other Alternatives to a Traditional IPO (John Wiley & Sons), was published in March 2018. His popular blog at, focusing on entrepreneurship and the regulatory environment, has been recognized by LexisNexis as a Top 25 corporate law blog, and his videos appear on his YouTube channel, The Entrepreneur’s Advocate. He also pens a monthly column on cannabis regulation for Honeysuckle magazine.

Mr. Feldman is a graduate of the University of Pennsylvania Law School, and of the Wharton School of the University of Pennsylvania. He has served as chair of the board of Wharton’s global alumni association. Mr. Feldman discusses his practice in this featured video

Mr. Feldman discusses the Duane Morris Cannabis Industry Group in a video from Cannabrunch 2018.


Larned F.


David D.

Very interesting discussion on conflicts between federal and state laws and commercial hurdles to be surmounted by cannabis companies entering into business.

Nina Anne G.

Good job!

Kevin C.

Nice overview

Richard a.

Very interesting

Edward M.

a standout presentation

aaron g.

Mr Feldman is authoritative, pragmatic, covers the outlined waterfront

Richard S.

OUT OF THIS WORLD! Excellent analysis.

Peter V.

Feldman is a rockstar!

John B.

Best speaker ever!

John W.

Very interesting CLE.

Deanne R.

Great course!

Norin G.

Even better than the ratings, the best presentation of any I have seen here yet.

T.W. Ronald D.

very good presentation

Darren L.


Devin V.

Very interesting. Great program for those in Banking/ Financial Institutions.

Howard H.

Excellent course and knowledgeable instructor

Julia R.

pleasant thoughtful faculty

Pauletta C.

Fascinating and invigorating presentation for those of us looking for new areas of law to pursue.

George T.

Great speaker.

Joshua H.

I can’t wait for the update

Mark W.

One of the best CLE presentations I have watched. Clear and informative. Must be a fascinating practice group.

Joseph K.

I liked this presenter

Darryl S.

The course materials relate to an area of changing law, and is very interesting.

Peter M.

This is the best CLE course I have ever taken in 43 years of legal practice in Florida. Thank you.

Jessica K.

Excellent presentation; very informative. Thanks!

Kasondra K.

Speaker was great.

Robert K.

the presenter knows his stuff in this area!!

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