WE’VE GOT YOU COVERED EVERY
STEP OF THE WAY
The cannabis industry is a unique beast, existing in an overlapping circle of a regulatory venn diagram. The fact that cannabis is not legal on the Federal level means that there are a myriad of legal considerations – from taxes, to advertising, to banking – that business owners must consider. If and when cannabis is legalized on a national level, it is likely going to be regulated by the Food and Drug Administration; this means its own set of regulations. Additionally, the regulations being promulgated are constantly shifting and new states are creating new rules, which make it very difficult to keep pace. This means that cannabusiness companies should be creating and operating on policies and processes that will permit for the smooth transition into new regulatory environments.
Business owners do not go into business to spend their time worrying over how to comply with rules created by governments. Instead, business owners go into a business because they want to deliver products and/or services that meet the needs of their customers. MBA Growth Partners fully understands the reluctance and the burden of regulatory compliance. Moreover, MBA Growth has a team of compliance experts who are both knowledgeable and dedicated to keeping abreast of changes with the simple aim of ensuring that your company remains compliant.
REGULATORY COMPLIANCE IS NUANCED
It is important to remember that the regulations guiding the cannabis industry change over time and are very location specific. As such, the process involved in getting a license in Oklahoma will be different from New Jersey. This means that entrepreneurs cannot rely on generic guides to regulatory compliance but instead must take the time or work with a team of experts that know the local rules.
Another important factor in compliance is tracking and reporting. Installing a reporting system is an important part of creating processes that foster a culture of compliance.
MBA Growth Partners specializes in process efficiency and system implementation. We also work to ensure that your company fully adopts the new system and processes. When it comes to compliance, we have you covered.
PREPARE FOR FDA REGULATIONS
Do not be one of the companies that are caught off guard and have to shutter your doors once FDA regulations are imposed on the industry. If your processes are not GMP compliant, reach out to our team and we can help create, draft, and implement processes that that will save you time, money, and additional effort once the regulations are in place.
COMMON INFRACTIONS &
CHANGES IN REGULATIONS.
It is important to conduct external business compliance audits at least on a quarterly basis, along with full internal audits and internal spot checks for inventory and cash. There should also be full audits directly after new regulation has passed, before implementation is required.
Common Cultivation Infractions:
- Not reconciling all on-premises inventories at the close of business each day.
- No documentation for material changes for standard operating procedures and regulated processes.
- Lack of complete inventory of material safety data sheets where the product is used or stored.
- Inadequate Chemical and Pesticide Application Log
- The cultivation facility has not properly documented all waste and waste removal.
Common Dispensary Infractions:
- Not immediately inputting all products into the state-mandated inventory tracking system and accounting for all variances
- Tracking logs for visitors, security, and/or waste are not accurate or updated
- Incomplete financial business documentation available as required by federal and state regulations
- Missing or incomplete public health and safety warning statements on products sold
- Inadequate and/or obstructed surveillance cameras