Cannabis business owners are constantly jumping through hoops in a bid to keep their operations in compliance with the varied regulations. A compliance consultant can ease the task manifold.
Wondering why the cannabis industry needs a DEA compliance consultant?
Well, with the growing legalization of cannabis for both medicinal and recreational use, the industry is exploding with a plethora of entrepreneurs jumping onto the money-spinning bandwagon. More and more people are looking to exploit the lucrative potential in the farming, manufacturing, distributing and retailing sectors.
However, this is not about easy money as expected. Given the varied health risks associated with cannabis, the industry is subject to heavy regulations. There are strict rules for everything from growing the cannabis plant and processing it into different formulations to managing the supply chain and dispensing it to the end consumers. The business owner has to not only stay in full compliance at all times, but also cover other bases like preventing tampering and theft of the products while they are in transit or stored at the location.
The Drug Enforcement Administration (DEA)exercises strict vigilance on the cannabis industry with an eye out for any kind of non-compliance by the farmers, manufacturers, distributors and retailers. Defaulters have to pay a heavy price – there will be irreparable financial and reputational damage, some even lose their license permanently. Alas, there is no appeals process for license revocation!
Staying in tune with the regulations
Forget willful defiance, cannabis businesses cannot afford to even inadvertently cross the line when it comes to compliance. While people may operate with the best intentions, conformity becomes a challenge as the rules tend to vary from location to location. Moreover, there are constant changes in the requirements as the research increases and the industry grows.
It is not just about the business owners; even the staff have to be well-versed with the legal nitty-gritties to eliminate the possibility of accidental missteps. Regular training to ensure adequate knowledge and skills becomes imperative here.
Security also remains high on the agenda for safeguarding the inventory and keeping track of the same. Recordkeeping is another tall order with a lot of forms, logs, reports and the like.
The business also has to be prepared for unannounced audits by the DEA team. Even small issues that are unearthed can blow up in the face and have a devastating impact.
In sum, danger is lurking around every corner in the cannabis profession. A compliance consultant can be the answer to staying in full compliance with the innumerable and ever-changing regulations.
Titan Group provides a suite of services for tackling diversion DEA agents by staying in full compliance at all times. They will develop a formal compliance program that covers inventory management, facility security, staff education, mock audits and other necessary protocols. In fact the team is prepped to assist with everything from licensing to diversion investigations to litigation support, should the need arise. The compliance support will remain ongoing at all times!