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February 7, 2024

Jason Klimek Interviewed for Green Market Report Article on Investigations of True Parties of Interest in NYS Cannabis Operations

Jason Klimek, Cannabis Team co-leader, was interviewed for the Green Market Report article “New York OCM to Start Investigating Cannabis Company True Parties of Interest.” The article gives background on the purpose of the New York State Office of Cannabis Management (OCM) Trade Practices Group. It also notes that the Trade Practice Group has contracted with a large firm that will investigate relationships among true parties of interest (TPIs) and licensees, including financial arrangements, undue influence, and other prohibited arrangements. 

Jason advised that the OCM and Trade Practices Group audits, which are comprehensive and extend beyond basic compliance checks, will likely review the following areas to ensure a transparent, fair, and compliant cannabis industry in New York State:

  1. Assessment of TPIs
  2. Review of Compliance With the Two-Tier System
  3. Evaluation of Undue Influence
  4. Prohibited Items in Contracts
  5. Comprehensive Inspection of Premises and Records
  6. Packaging and Labeling Standards
  7. Marketing and Advertising Compliance

To read the full article, click here.

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