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Simplifya, a regulatory and operational compliance software platform serving the cannabis industry has expanded the company’s operational footprint to 28 states with the launch of its core suite of cannabis compliance solutions in Minnesota.
Its suite of RegTech solutions include Simplifya Standard Operating Procedures, Simplifya Smart Cabinet and Simplifya Self Audit, which have been specifically designed to help cannabis and ancillary businesses stay abreast of regulatory changes, cost-effectively manage risks and remain legally compliant under Minnesota’s laws.
“As Minnesota’s medical cannabis market expands and more opportunities open up for operators and patients, regulations will continue to become more extensive and stringent,” Simplifya co-founder and CEO Marion Mariathasan told Benzinga. “Regulators are already becoming more vigilant, as we’ve seen with recent crackdowns on operators for infractions like producing edibles that exceed THC limits. We only expect enforcement efforts to ramp up across the board, especially now that Gov. Walz has signaled flipping to adult-use is a legislative priority.”
In May 2014, Minnesota enacted the Medical Cannabis Therapeutic Research Act, but the state’s program was generally regarded as one of the most restrictive in the country, due to the limited number of qualifying conditions, lack of accessibility and limited forms of cannabis permitted. However, recently the state expanded its qualifying conditions for patients from nine to 19, the number of dispensaries from eight to 14, enabled retailers to sell dried flower – one of the most popular forms of cannabis – and in July, a new law permitting the sale of edibles and infused beverages took effect.
“At Simplifya, our RegTech solutions, which are updated in real time by a team of regulatory analysts, have proven integral in helping operators navigate complex, evolving regulations, while cutting down on the time and money it takes to stay on top of compliance. As the Minnesota market continues to evolve and mature, we look forward to helping protect not only individual operators but to protect and bolster the Minnesota cannabis ecosystem as a whole,” Mariathasan added.
Compliance Solutions Details
The compliance solution suite available to cannabis businesses in Minnesota includes:
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Simplifya Standard Operating Procedures are designed to help ensure cannabis businesses are efficiently, effectively and legally running. They outline best practices and processes for the clients’ entire organization.
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Simplifya Smart Cabinet – is a user-friendly and convenient online document storage hub that helps eliminate the worry and stress of organizing and storing critical documents.
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Simplifya Self Audit – Simplifya’s team of lawyers and regulatory analysts review state and local regulations to create a checklist of simple “Yes” or “No” questions to help companies determine if they’re operating in compliance with all of the rules related to their license type. If the Self Audit finds an area where a company is not in compliance, an employee can create an action to fix the issue, assign it, track the task to completion and store the corrected results in a Remediation Report for future use or reference.
- Photo: Courtesy of Ryan Lange on Unsplash
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Image and article originally from www.benzinga.com. Read the original article here.