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Compliance and Data in the U.S. Regulated Cannabis Markets

08.19.2020

The cannabis industry is one of the newest and most regulated industries in the world. Cannabis is in its infant stages, and it has never been more important to see a holistic and comprehensive view of what is happening at each business on a granular level. One fundamental way to gain understanding is by requiring Operators to report their activity every single day. While many have expressed the toll this takes on workforce and resources, it is far from the only industry to have reporting requirements.

 The healthcare industry has more than five federal agencies that dictate who, what, when, and where reporting is mandated. The FDA (The Drug Supply Chain Security Act), DEA (Controlled Substance Act), CDC, NIOSH, and EPA (Resource Conservation Recovery Act) are just a few of the enforcers. The requirements include things like; knowing your customers, reporting suspicious activity, security and access control, record keeping, as well as transfer and disposal requirements- very similar to the cannabis industry’s regulations (who notably do not have any federal laws in place yet).

Imagine the infrastructure put in place at your local pharmacy to abide by each policy; Prescription tracking and validation software, customer identity policies, controlled substance tracking, hazardous waste disposal management, to name a few. Many states have additional, more stringent reporting requirements than the federal government, adding even more complexity. While they may take intensive training and manpower, they keep the public safe and encourage transparency for consumers and regulators alike.

As the cannabis industry grows over the next decade, we will likely see the implementation of federal enforcement and reporting obligations. Operators will have to build up their sophistication quickly and efficiently to remain in business. The states who are crafting law today will support the building blocks of what we will likely see in the future federal laws. It is more important than ever to track activity and trends for the industry as a whole AS WELL AS validate if the data being collected today is accurate and complete.

About the Author Paige Reimers

Paige Reimers is the Chief Operations Officer of NCS Analytics, where she leads the company’s operations, product implementation, customer success, marketing, security, and strategic growth initiatives. Since joining NCS in 2016, Paige has been instrumental in transforming the organization from a regulatory data provider into a leading SaaS analytics company serving financial institutions and regulators nationwide. Throughout her tenure, she has advanced through multiple executive leadership roles, including Vice President of Operations and Senior Vice President of Operations, before being named COO, reflecting her significant contributions to the company’s growth and success.

At NCS Analytics, Paige has overseen the development and launch of several innovative SaaS solutions, including NCS Thea, the industry’s first government-mandated cannabis lending intelligence platform. She has led cross-functional teams responsible for product implementation, customer support, operations, marketing, and strategic vendor management, helping organizations leverage trusted data to improve underwriting, portfolio monitoring, compliance, and risk management. Her leadership has also been instrumental in establishing scalable customer onboarding programs, building high-performing support and implementation teams, and driving product adoption across the financial services industry.

Paige has also played a critical role in strengthening NCS Analytics’ operational foundation. She developed comprehensive operational, cybersecurity, and risk management policies, established disaster recovery and business continuity programs, and helped the company maintain SOC compliance for multiple consecutive years. Her focus on operational excellence, governance, and customer experience has enabled NCS to scale while maintaining the trust and confidence of its customers.

Before joining NCS Analytics, Paige built a strong foundation in banking and financial services with leadership roles at consumer and commercial banks. There, she managed branch operations, risk management, regulatory compliance, and employee development while working closely with clients to identify financial solutions. Her experience overseeing operational controls, internal audits, and regulatory requirements provides valuable insight into the challenges financial institutions face when evaluating and managing risk.

Today, Paige continues to lead NCS Analytics’ strategic operations while helping shape the company’s long-term vision. She is passionate about building scalable organizations, developing innovative technology solutions, and delivering actionable intelligence that brings greater transparency to the cannabis industry. Her unique blend of banking expertise, operational leadership, and technology experience has positioned her as a driving force behind NCS Analytics’ mission to empower lenders, regulators, and cannabis businesses with trusted, data-driven decision-making.

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