Cannabis And The FCA: A Consultation Response

The Financial Conduct Authority (FCA) is consulting on a Technical Note about listings of cannabis-related businesses. This is the response of BCL Solicitors LLP, a cannabis-regulatory firm based in London that assists clients with cannabis licences, listings, and proceeds of crime issues.

Businesses that work in the cannabis industry are accustomed to regulatory issues of course, but it is undeniable that the UK's rules are both stricter than those of other jurisdictions, and more complicated than they need to be. As an increasing number of businesses seek to list in the UK, the FCA's consultation on a new Technical Note (following an earlier Statement on its approach), covering the issues they will face in their applications, is certainly welcome. But there are four areas in which it might usefully consider going further.