Current Initiatives
Part of the PH&S mission is to initiate, coordinate and collaborate on matters of public policy. In particular, the states have in large part, been left to their own to broadly interpret the few boundaries and guidance directives set forth by the federal government. PH&S continues to build relationships and explore new initiatives to catalyze change in the cannabis industry.
Certification
A daunting challenge for financial institutions to serve the marijuana and hemp market is managing risk and identifying companies that can demonstrate compliance to be able to access the financial system in a compliant manner.
PH&S has evaluated the ability for independent certification programs to demonstrate effective risk mitigation efforts when engaging within the marijuana and hemp supply chain. After multiple years, a comprehensive pilot certification concluded in 2021.
Financial Institution Certification
The Financial Institution Certification Program is a first of its kind program that enables full validation of compliant financial institutions in the marketplace who are serving marijuana and hemp companies. Engineered from lessons learned during over a dozen federal audits of the first Credit Union in the nation to publicly bank cannabis plant touching business nearly a decade ago, this program is now available to any financial institution seeking to demonstrate through a third-party audit their compliance to all financial rules and regulations.
Contact Fred Niehaus to learn more about Certification Options.
Plant Touching Operators Certification
In 2020, the PH&S Foundation engaged in a strategic dialogue with ASTM International, one of the oldest voluntary consensus standards organizations in the world and its Committee D37 on Cannabis. Leveraging their 50+ approved cannabis industry standards has enabled a certification options for:
Third party testing laboratories
Cultivators of hemp (<0.3% THC) and marijuana (>0.3% THC)
Manufacturers of infused/extracted products containing cannabinoids
As the only program recognized by States Attorneys General, Certification demonstrates operational excellence that mitigates business risk and protects public health. Required annual audits evaluate all aspects of an operation from the qualifying of raw materials and inputs, production controls, training, management commitment, and more – going above and beyond standard compliance requirements.
Contact:
Operations Certification - David Vaillencourt of The GMP Collective phs@gmpcollective.com
Issues Mobilization
Engagement with state attorneys general enhances PH&S’ ability to impact public policy through identifying, interpreting & navigating common ground for both law enforcement and the industry.
In many respects, PH&S serves as an early warning system for relevant developments impacting consumers from a public health and consumer protection perspective.
We understand the critical importance of connecting with all individuals and stakeholders from the ground up. Understanding the impact of this approach ultimately allows us to interface with opinion leaders and key policy makers. It is key our effectiveness.
Safe Banking
Safe Banking legislation has been in play for several years. A matter of such importance to state regulators, the US government as well as the public requires support from nontraditional entities.
Part of the PH&S mission is to initiate, coordinate and collaborate on matters of policy. In particular, the states have in large part, been left to their own to broadly interpret the few boundaries and guidance directives set forth by the federal government. So, we have made it our mission to address this issue by working with Attorney Generals across the country to take this issue head-on.
In addition, current law enforcement initiatives engage laddering up to Congress and policy makers. To that end, in the absence of federal action, Safe Harbor Financial has championed legally compliant cannabis banking solutions across the United States since 2015.
Structured as a private banking model, SHF has the ability to provide legal, federally compliant and reasonably priced financial service products to the industry.
SHF is a publicly traded company.
Cannabinoid Regulation
The evolution of intoxicating cannabinoids and the regulatory impact on both the cannabis and hemp industries is a complex issue and one law enforcement and regulators need to understand in order to effectively deal with these evolving forms of cannabis.
Intoxicating hemp derived cannabinoids, including Delta-8, have proliferated the hemp product space.
Delta-8 manufacturers and marketers have exploited a perceived 2018 Farm Bill loophole to justify the production, marketing, and sale of their products. This interpretation of the Farm Bill is being used to skirt the Controlled Substances Act by selling untested and potentially dangerous intoxicating synthetic cannabinoids under the guise of “legal hemp”.
The production of these intoxicating synthetically derived cannabinoids involves the use of harsh solvents and catalysts of varying purity. Multiple studies have shown alarming levels of impurities as well and numerous unidentified cannabinoids that have no safety data. This has resulted in a major risk to public health and safety.
Read PH&S’s latest paper on this topic.
