The cannabis industry is in the beginning stages of a massive transformation, with almost half the states now having adopted a medical marijuana program and two states having implemented programs for legal adult use. Businesses in the industry have a difficult time accessing capital due to cannabis remaining federally illegal and have turned to the stock market to finance growth. A recent crackdown by the SEC and FINRA addresses some important issues, but a flaw in the process has created considerable risk for investors and could slow the expansion of the industry, potentially reducing access by medical patients. FINRA can easily address the issue by changing the process for companies to relist should they be suspended from trading by the SEC.
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