Partner Kevin Edgar recently sent a letter to the leaders of the U.S. Senate Committee on Banking, Housing & Urban Affairs on behalf of the Equity Markets Association (EMA). The Sept. 21 letter concerns the proposed Secure and Fair Enforcement Regulation Banking Act of 2023 (SAFER Banking Act), recently under consideration by the committee.
In the letter, he shares the EMA’s support of adding language to the bill’s Safe Harbor provision “to provide U.S. exchanges with the legal certainty they would need to list the securities and exchange-traded products of cannabis companies operating in states in which it is legal and thereby allow those companies to raise capital.”
While the bill has been reported out of committee without the language preferred by the EMA (Cboe Global Markets, Nasdaq and NYSE Group), Edgar will continue to work with the equity markets to advance the issue in the full Senate.