The Rise of MRBs
Marijuana Related Businesses may be one of the fastest growing industries in the United States. This webinar will evaluate MRBs as underlying holdings in RICs and other investment products. Industry participants with MRB offerings provide timely insights on this evolving topic.
· Gaining insight on product development and investment operations trends as they relate to cannabis-related investments
· Understanding the compliance and custody implications of MRB investing
· Learning how ESG funds might be dealing with MRBs
Eric Simanek (Moderator)
Sullivan and Worcester
Eric's practice focuses on financial services, including mutual funds, closed-end funds, exchange-traded funds and commodity pools, and their boards of directors on issues regarding regulatory compliance and product development. He assists clients in navigating laws administered by the Securities and Exchange Commission (SEC), Commodity Futures Trading Commission (CFTC) and National Futures Association (NFA), and state securities laws. He also advises investment advisers on issues relating to registration and compliance policies and procedures. Eric often advises exchange-traded funds (including exchange-traded commodity pools) in connection with their exemptive relief and the launch of new funds, as well as non-investment companies on issues regarding their status under the Investment Company Act of 1940.
Eric also served as a law clerk to the Honorable William E. Smith of the United States District Court for the District of Rhode Island.
Cannabis Research and Banking Expert
ETF Managers Group
With over 20 years of experience in the asset management, finance and structured product space, Jason has a track record of bringing hard-to-access asset classes to market.
Jason has held leadership and senior positions at several leading financial institutions. Most recently, Jason was Senior Vice President at INFOR Financial Inc. INFOR is a leading boutique investment bank based in Toronto, Canada that has worked in connection with a number of companies in the legal cannabis industry, including acting as advisor to Canopy Growth Corporation in connection with entering into its strategic relationship with Constellation Brands.
Jason has also worked at the investment banking divisions of Société Générale, France’s third largest bank, and at CIBC, one of the five largest banks in Canada. While at Société Générale and CIBC, Jason provided asset managers and financial institutions with various capital raising, financing and risk mitigation solutions and strategies.
Jason has an LLB from the University of Western Ontario. Prior to completing his university studies, Jason was a member of the Canadian Forces and is a recipient of the Gulf of Kuwait Medal, awarded for his engagement in direct combat during the Gulf War in 1991.
Equity Strategist, ESG
Kristoffer Inton is equity strategist, ESG for Morningstar Research Services LLC, a wholly owned subsidiary of Morningstar, Inc. Previously, he served as director of equity research, basic materials. In addition to his work expanding Morningstar equity research’s ESG thought leadership, he covers American and Canadian cannabis companies. Before joining Morningstar in 2013, Inton was an investment banking associate for Guggenheim Securities in New York. Previously, he was an investment banking analyst for Merrill Lynch in Chicago and New York. Inton holds a bachelor’s degree in finance with high honors from the University of Illinois and a master’s degree in business administration with distinction from Northwestern University’s Kellogg School of Management.
Managing Director and Global Head of AML Compliance Risk Management
Cathy LaFalce is a Managing Director and Global Head of AML Compliance Risk Management for Citigroup’s “Markets and Banking” businesses.
In this role, Cathy leads the Global Citi AML Compliance Risk Management team responsible for identifying, evaluating, mitigating and reporting on AML and reputational risks for these businesses. In her 22-year career with Citi, Cathy has held a number of senior compliance, audit and risk management roles supporting Citibank’s former Global Transaction Services (GTS) businesses, including as AML Compliance Head for GTS North America and GTS Compliance Officer. Cathy also held senior Compliance and AML roles at two other global financial institutions: Barclays Capital, where Cathy was the Global AML Advisory Head for Barclays Corporate and Investment Bank (CIB) and the CIB Americas Financial Crime Compliance Head; and The Bank of New York, where Cathy was Sector Compliance
Officer for BNY’s Issuer Services businesses.
Cathy has extensive experience building compliance programs and standards at a business and firm- wide level. She has participated in numerous industry forums throughout her career and recently served a two-year term as Co-Chair of the Securities Industry and Financial Markets Association (SIFMA) AML Committee.
Cathy started her career as an Associate National Bank Examiner for the Office of the Comptroller of the Currency and also was a Senior Auditor at Bankers Trust. She holds a Bachelor of Science in Finance and Economics from Fordham University.