Financial services technology company FinClear’s acquisition of Pershing Australia from Bank of New York Mellon (BNYM) has been welcomed by cannabis stocks as it will allow the trading of cannabis securities on the ASX with immediate effect.

In 2019, BNYM’s cannabis securities policy prohibited clients (including a large number of Australian brokers) dealing in listed cannabis-related businesses mainly due to the illegal status of cannabis federally in the US. Those impacted included AusCann, Cann Group, CannPal, Creso Pharma, MGC Pharmaceuticals and MMJ Group.

Join the Cannabiz revolution

Want to stay ahead of the cannabis curve with the latest local and international news, analysis and intelligence and access to Australia's legal cannabis industry?

This article is included with our Premium subscription.

Join or login
Elementum integer enim neque volutpat ac tincidunt vitae semper quis. Eu lobortis elementum nibh tellus molestie nunc. Sit amet consectetur adipiscing elit duis tristique sollicitudin nibh. Magnis dis parturient montes nascetur ridiculus. Dui id ornare arcu odio ut sem. Nisl nunc mi ipsum faucibus vitae.
Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur.

Prior to launching Cannabiz, Martin was co-founder and CEO of Asia-Pac’s leading B2B media and marketing information brand Mumbrella, overseeing its sale to Diversified Communications in 2017. A journalist...

Leave a comment