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

Business & Finance

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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