Breaking the Bank on Cannabis: Navigating Federal Financial Uncertainty
Join leading legal and financial experts as they dissect the turbulent landscape of cannabis banking. This panel will delve into how federal prohibition under the Controlled Substances Act continues to ripple through the industry, exacerbating issues like de-risking and de-banking. Explore the current status of key federal initiatives—including the pending SAFER Act, evolving FinCen guidance, and the stringent reporting requirements under the Bank Secrecy Act—that shape the operational and regulatory challenges faced by cannabis businesses. Attendees will gain insights into emerging regulatory reforms, strategies for risk management, and practical legal approaches to stabilize financial operations in a market caught between progressive state laws and entrenched federal policy.
Ati Khatri focuses his practice on mergers and acquisitions, financial transactions, and general counsel matters, working very closely with founders and investors alike. He assists privately-held companies, technology firms, banks, lenders, executives, investors, and investor groups in all areas of transactional, business planning, and general corporate matters. Ati is involved in the entire life cycle of a company, from inception to exit, and he prides himself on being the first phone call that his clients make for nearly all general corporate matters.
Having facilitated commercial loan transactions ranging from $1 million to $350 million, Ati has a depth of experience providing lender-side and borrower-side loan documentation for financial institutions and middle market businesses.
In addition to traditional corporate financial transactions, Ati has a strong practice leading specialty finance transactions including equipment leasing, warranty finance, insurance premium finance, and other such specialty disciplines.
Ati also focuses his practice on mergers and acquisitions, representing clients in numerous industries in transactions ranging from $1 million to $375 million. His finance background makes him uniquely qualified as a “one-stop shop” for merger and acquisition needs, overseeing both the purchase transaction logistics, as well as the senior and mezzanine debt financing necessary to bring the transaction to a smooth closing.
Prior to joining the firm, Ati was a partner in the Business and Finance Group at HMB Legal Counsel, a well-established, corporate-focused law firm based in Chicago, Illinois. He was also a leader in its Debt Finance and Banking practice and led its ETA/Search Fund efforts.
Kristina is an exceptional communicator whose practical approach is highly regarded by her clients. Her primary practice is concentrated on matters related to complex and nuanced dispute resolution, administrative matters, audit and compliance, and risk management as well as telecommunications and financial services. With an adept understanding of federal and Ohio administrative and regulatory processes, Kristina expertly navigates the intricacies of highly regulated industries, consistently providing invaluable counsel to help clients thrive in these sectors.
As a dynamic and innovative counselor, Kristina operates at the intersection of regulation and law within Ice Miller’s Litigation practice. She has played a pivotal role in helping the firm carve out unique practice areas in regulated industries and administrative law. Kristina takes an organic client-centered approach to her work, always striving to ensure her practice drives meaningful change both personally and professionally.
Kristina’s career trajectory showcases her unwavering commitment to tackling challenges with a can-do attitude and her willingness to adapt to meet client needs. A sought-after speaker in the region, she regularly presents on various topics, particularly at events for credit unions in Ohio, an area in which she has become an instrumental resource for the firm.
Kristina has been consistently ranked by Best Lawyers in America: Ones to Watch in the areas of banking and finance litigation and commercial litigation. Her influence extends beyond her client work, as she is also dedicated to uplifting the next generation of lawyers through the firm’s mentoring program. Her unique strengths and drive continue to inspire up-and-coming lawyers and professionals at Ice Miller.
Prior to joining Ice Miller, Kristina clerked for the Honorable Michael H. Watson of the Southern District of Ohio. Just prior to her federal clerkship, she also clerked for the Chief Judge of the Office of Administrative Law Judges for the United States Department of Labor, where she managed a broad range of employment cases concerning a variety of federal regulations.
Richard Y. Cheng, a distinguished member at Ritter Spencer Cheng PLLC, brings a wealth of experience and expertise in corporate transactions, regulatory, compliance matters, and administrative appeals. His profound knowledge of healthcare and corporate M&A law has led him to represent a diverse range of investment platforms (e.g. private equity, family offices, venture capital funds) and healthcare providers ranging from post-acute care providers (e.g. skilled nursing facilities, assisted living facilities, hospices, and home health agencies), hospitals, physician groups, ancillary providers, behavioral health facilities, management service organizations, dental services organizations, NPHOs and veterinarians. Richard’s adeptness in navigating various healthcare regulations has solidified his reputation as a trusted legal advisor in healthcare law.
At Ritter Spencer Cheng PLLC, Richard leads the healthcare and corporate M&A practice, offering representation to a broad range of investors, healthcare organizations and providers. His extensive background includes dealing with the Stark Law, the Anti-Kickback Statute, the False Claims Act, HIPAA, EKRA, CMP assessments, corporate practice of medicine and dentistry laws, and state related regulations. Prior to forming Ritter Spencer Cheng, PLLC, Richard was an equity partner at an Am Law 100 global law firm where he was a member of the corporate practice group, healthcare section and chaired the firm’s hemp / regulated products practice group.
In addition to his traditional healthcare practice, Richard developed a cannabis regulatory and corporate practice starting in late 2013. As a leading cannabis attorney, Richard served as outside general counsel to the Texas Cannabis Industry Association, co-authored a FDA primer in preparation for the 2019 FDA public hearing on CBD products and has been named a top 250 cannabis legal expert by DataBird Research Journal. He represents a broad base of cannabis related clients, including, private equity groups investing in the cannabis industry, physicians, medical marijuana dispensaries, seed developers, cultivators, processors, wholesalers, retailers, distribution centers and ancillary providers (e.g. testing labs, biomass brokerage firms, etc.) and marketers. Richard created and taught the cannabis law course at the University of North Texas at Dallas College of Law where he served as an adjunct faculty from 2020-2022.
Marc Hauser - Marc one of the leading authorities in the U.S. cannabis industry. Currently Chief of Staff at Jardín in Las Vegas and General Counsel of Khalifa Kush after a nearly 25-year career as a deal and capital markets lawyer handling untold billions of dollars in transactions, Marc was previously Chair of the cannabis practice at Reed Smith LLP, a global law firm, and personal deal counsel for fifteen years to Chicago-based investor Sam Zell at Equity Group Investments. He is the author of Cannabis Musings, which has been providing irreverent commentary on the industry since 2018, and teaches cannabis law as an Adjunct Professor at both the Northwestern Pritzker School of Law (his alma mater) and the UNLV William S. Boyd School of Law. Marc graduated from Northwestern University in 1995, and cum laude from the Northwestern Pritzker School of Law in 1998, where he was a member of the Law Review.