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Business & Finance

Reuters exclusively reports Credit Suisse stops custodian service for some U.S. cannabis stocks

Reuters exclusively reported that Credit Suisse Group AG has told customers in recent months that it will no longer execute transactions in shares of cannabis companies with U.S. operations or hold them on behalf of clients. Cannabis remains illegal under U.S. federal law, even though many states have legalized its use. This represents a legal risk for investment banks working for companies that produce or trade the drug.

Article Tags
Topics of Interest: Business & Finance
Type: Reuters Best
Sectors: Business & Finance
Regions: EuropeNorth America
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Major Global Story
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