Illinois Governor J. B. Pritzker signed into law recreational marijuana legislation this Tuesday, after the Illinois legislature voted by large margin to approve the landmark 700-page Cannabis Regulation and Tax Act (“the Act”). A copy of the bill voted upon is located here but the Act has yet to be fully published online. The new law is expected to go … Read More
SEC Approves Regulation Best Interest for Broker-Dealers, Form CRS
The U.S. Securities and Exchange Commission (“SEC”) adopted “Regulation Best Interest” (“Reg BI”) on June 5, 2019, requiring broker-dealers to act in the best interest of their retail customers when recommending securities or a particular investment strategy. Additionally, the SEC adopted a new Exchange Act Rule 17a-14, 17 CFR § 240.17a-14, that requires broker-dealers to prepare, file with the SEC, … Read More
Two Things that Stand out About Illinois’ Landmark New Legislation Legalizing Cannabis
On Friday, May 31st the Illinois House approved a law legalizing recreational cannabis, or marijuana, in the state, making Illinois the 11th of the United States to do so. The law, referred to as the Cannabis Regulation and Tax Act (“CRTA” or the “Illinois law”) is on the desk of Illinois Governor J.B. Pritzker, who has championed legalization, to sign … Read More