CRB Monitor of Nashville, TN is pleased to announce that its global database of more than 1,600 cannabis-linked securities has undergone a review of Cannabis-linked Sector Classification System which has resulted in the addition of two new sectors to its universe.
The two new cannabis-linked sectors in the CRB Monitor database are Professional Services – Advertising and Professional Services – Consulting. The motivation for these new sectors was CRB Monitor’s goal to align its database elements with the U.S. Drug Enforcement Administration’s Controlled Substances Act, which characterizes these two activities as prohibitive under the Act.
The ongoing process of researching the capital markets’ underlying links to the cannabis industry has resulted in what we believe is the new standard in cannabis sector classification. Given CRB Monitor’s deep, proprietary information set, we have constructed a sector classification system that is an accurate reflection of each CRB’s connection to the cannabis industry. And the addition of two sectors in September 2025 sharpens the tools our clients need to better identify violators of the CSA.
These are our newly updated sectors as of August 31, 2025, which can be found in CRB Monitor:
Sector classification is just one critical feature of the CRB Monitor securities database, adding to an already extensive information set that includes:
- Proprietary Cannabis-linked Risk Tiers – Tier 1A, 1B, 2, 3
- Cannabis-linked sector classification
- Cannabis-specific revenue range
- Pure play/Non-pure play designation
- Dividend paying/non-dividend paying CRBs
- Up to four exchange listings and tickers, including OTC listings
- CUSIP/ISIN/CINS code
- Inclusion of the universe of cannabis-themed ETFs and market indexes
- For Tier 1 CRBs:
- Underlying corporate structure, including plant-touching subsidiaries
- Cannabis license classification – Medical, Recreational, Hemp
- Underlying cannabis license type – Cultivation, Dispensary, Manufacture, etc.
- Cannabis exposure by geographic location – Country & Region
To reiterate our original announcement regarding Sectors: “The need for clarity with regard to sector comes from a limited understanding of publicly-traded companies’ connection to the cannabis space. This limitation has led to widely-used data series, such as the Global Industry Classification System (GICS) to place CRBs in a generic sector and industry. For example, Tier 1 CRBs will frequently reside in either Health Care or Biotech, which does not accurately describe their business activities. Rather, their assigned sector should be related to what they are licensed to do (cultivation, retail, extraction, testing, etc.). For Tier 2 and Tier 3 companies, the more commonly-used sector classifications tend to be related to a company’s main business line rather than their cannabis-related business line.”
Wondering what a Tier 1, Tier 2 or Tier 3 CRB is?
See our seminal ACAMS Today white paper Defining “Marijuana-Related Business” and its update Defining “Cannabis-Related Business”)
