Overcoming Compliance Challenges in Emerging Cannabis Markets

Do Regulatory Compliance worries keep you awake at night? Is maintaining proof of Compliance draining your staff and financial resources? Do you wish there was a fully customizable, online Compliance program available?

Regulatory Compliance is integral to the success of legalized marijuana facilities. For thousands of marijuana operators across the country, they take compliance very seriously. And some don’t, especially those that are operating illegally. For them, compliance is just ignored.

For large operators a fine may not amount to much. But for smaller operators, like mom & pops, a non-compliance fine or penalty will greatly impact the bottom line. A mistake can cost thousands, or worse.

Taken from recent news reports:

On Aug. 2, 2023, DCR issued an Order of Immediate Suspension to an extraction facility for a credible and imminent threat to public health or public safety. Specifically, record in the statewide track and trace system indicated inversion of marijuana product at the facility as well as practices permitting marijuana product to enter the regulated market without being compliantly tested.

          And another:

Missouri cannabis regulators have stopped three marijuana facilities from operating due to “potential product safety concerns”.

A spokeswoman for the Department of Health and Senior Services, said the agency had “suspended operations for three facilities to investigate potential product safety concerns.”

In Oklahoma: More than 150 medical marijuana dispensaries have received letters from state regulators notifying owners that they owe thousands of dollars in fines for transactions that do not comply with the state’s medical cannabis regulations. Some providers could also lose their licenses for selling too much medical marijuana in a single transaction.

Being in violation with Regulatory Compliance is serious. With the proper Regulatory or Quality Management Systems in place, the risk of fines and/or penalties can be avoided.

“You have to evaluate compliance not as an expense, but as a money saver. Sure, managing compliance takes resources, but it’s nowhere near as expensive as the costs associated with a breach.”

Paul Koziarz

If you need help with Regulatory Compliance, The Advisory Academy is here help. Contact one of our experienced coaches for more information. We are here to simplify your marijuana operations.