A Canadian investment bank is quietly pursuing a critical regulatory approval that would solve one of the biggest pain points for the US marijuana industry

A man shows off his cannabis purchase outside the Quebec Cannabis Society store, on the day Canada legalizes recreational marijuana, in Montreal, Quebec, Canada.If approved, the move couldinto the US cannabis industry.

Canaccord Genuity, a mid-size Canadian investment bank, is seeking approval from the Financial Industry Regulatory Authority to act as a custodian for US investors, according to a source familiar with the matter. Canaccord has built up a lucrative practice advising cannabis companies in recent years. The bank has advised on $5.9 billion worth of cannabis deals since 2017 and has helped bring 64 cannabis companies public in Canada — amounting to $1.86 billion — over the same time period, according to data provider Dealogic.

lisadavidms Get it Out Of My NOSE.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

The 15 best business schools in the US, according to US News & World ReportThe 15 best business schools in the US, according to US News & World Report via CNBCMakeIt MakeIt You blew it? Golden Gate University in SF by far the best. MakeIt What does it bribe amount to get admissions
Source: CNBC - 🏆 12. / 72 Read more »

US business groups encouraged by prospect of US-China deal♣️ لا إله إلا الله محمد رسول الله ♣️ اللهم صّلِ وسَلّمْ عَلۓِ نَبِيْنَامُحَمد ﷺ وآله وصحبه وسلم تسليما كَثْيّ Confess Islam and u mustbe successfulll Jumma Al mubarak Chairman Mao watches you poo
Source: ABC - 🏆 471. / 51 Read more »