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Showing 2 posts in marijuana.

Advising Clients Regarding Criminal Conduct -- Medical or Recreational Marijuana Industry

Rhode Island Ethics Advisory Panel Op. 2017-01

Risk Management Issue:  In a state that has legalized marijuana in contravention of the federal Controlled Substances Act, what are a lawyer's obligations when advising a client in the marijuana industry?

The Opinion:  The federal prohibition of marijuana under the Controlled Substances Act creates thorny ethical issues for attorneys representing clients in the cannabis industry in the twenty-nine states that have legalized medical marijuana and the eight states that have legalized recreational marijuana.  The Rhode Island Ethics Advisory Panel recently joined a chorus of other states in concluding that attorneys may ethically advise clients on all matters related to a particular state's medical marijuana law, as long as attorneys also advise clients regarding the federal law. More ›

Florida Issues Ethics Guidance for Accountants Advising Marijuana Businesses

The Florida Board of Accountancy recently joined a small group of states in issuing guidance on whether providing accounting services to a marijuana-related business violates an accountant's ethical requirements. The Board issued a declaratory statement advising that the provision of accounting services to a marijuana-related business in a state where such businesses have been legalized by the state does not, in and of itself, constitute a lack of good moral character. More ›