The state Department of Commerce and Consumer Affairs’ Division of Financial Institutions is pushing federal legislation to create a “safe harbor” for financial institutions that do business with medical marijuana dispensaries.

Hawaii joined with financial regulators from 24 states and territories to urge congressional leaders to consider passing bills to protect institutions that serve dispensaries or give states “full oversight and jurisdiction of cannabis-related activity.”

The group informed Congress about the barriers for those wanting to serve the legal cannabis industry and concerns over public safety and the regulation of funds, among other issues. Hawaii in 2000 legalized the use of medical pot, which is still considered illegal under federal law.

As of March 31, 47 states and Washington, D.C., as well as the territories of Guam and Puerto Rico have legalized the use of medical or recreational cannabis.

ON THE MOVE

Morgan Stanley Wealth Management has announce that Wang K. Lee, a partner of Ehrman/Lee/Bennett/ Ching Group, has been promoted to senior vice president. Lee has been with the firm since 2000 and has focused on comprehensive financial planning.

Hilton Hawaii has announced that Kyeong “Ken” Mok Lee has been hired as the Korean market’s regional sales manager. Lee was previously JTB Global Travel Service’s sales and planning manager from 2013 to 2018 as well as a VIP Tour manager and an HIS Hawaii outbound associate from 2010-2013.

Chassen Kosi-Cortez of the Boys & Girls Clubs of Maui was named Youth of the Year at the state competition. He competed against Youth of the Year winners from Boys & Girls Club of the Big Island and Boys & Girls Club of Hawaii (Oahu and Kauai). He received a $2,500 scholarship from the Eugene and Ruth Freedman Family Foundation for winning the Maui event, and a $5,000 scholarship from Boys & Girls Clubs of America for the state title.