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Two reps could lose securities licenses for selling life settlement notes
A pair of registered representatives with Planmember Securities Corp. in Texas face the loss of their securities licenses and fines of $100,000 each for the improper sale of life settlement notes.
Probe widens, as California examines how 10 life insurers handle dormant policies
The ten largest life insurers doing business in California are under the microscope over the way they handle dormant life insurance policies.
Insurers’ financials attract scrutiny in light of death benefit row
Florida's insurance regulator is looking into whether insurers' alleged failure to deliver deceased clients' death benefits promptly may have had an impact on the companies' financial statements and reserves.
Insurance cops grill MetLife, Nationwide on death benefits
Insurance regulators questioned MetLife Inc. executives today at a hearing in Florida as they sought to understand the insurer's death benefit settlement practices.
Connecticut is latest state to probe death benefit payments
Connecticut's insurance department yesterday kicked off an inquiry into insurers' payments of death benefits and the steps the insurance companies take to locate beneficiaries.
John Hancock to settle Calif. death benefit row worth $20M
California today announced a settlement with John Hancock Financial Services Inc. after an investigation revealed that the carrier failed to deliver deceased clients' death benefits promptly to the tune or $20 million. Similar cases are ongoing in Florida, too.
Ex-UBS adviser tricked clients, spent their money on prostitutes: SEC
Commission claims Kobayashi lived it up on client's life settlement investments
Backer of life settlements hit with fraud charges
SEC claims that Provident Capital made false statements about its ability to cover its bond obligations
Life Partners’ pitch change is a curveball for investors, attorneys say
Settlement provider lowers advertised rate of return from 12% to 7%; litigation ahead?
Embattled Life Partners sued by shareholders
Claim life settlement provider harmed investors by using flawed actuarial statistics
Point/Counterpoint: Are life settlements essentially securities?
On July 22, the Securities and Exchange Commission released a report from its Life Settlements Task Force which recommended that the SEC urge Congress to amend federal securities laws to include life settlements as securities.
Will SEC’s life settlement proposal kill industry?
Critics say plan to treat all life settlements as securities will shrink the industry – or worse; others say that's hooey
SEC task force: Life settlements should be defined as ‘securities’
An SEC task force on Thursday recommended that life settlements be defined as 'securities,' thus making such transactions subject to federal securities laws.
States pitted against federal regulators over life settlements
A recommendation by an SEC task force that life settlements be treated and regulated as securities has raised concerns that another turf battle may be brewing between state insurance regulators and federal securities cops.
No more regs needed for STATs: B-D exec
Stranger-originated annuity transactions have plenty of layers of oversight already, says ValMark Securities' Caleb Callahan
Life settlements broker Invescor closes its doors
Invescor's broker-dealer — Invescor Wholesale BD Inc. — was also part of the life settlements operation, but for now, the firm won't be shut down.
Will regulators kill off fledgling secondary market for death benefits?
State insurance regulators Monday voted in favor of a proposal that would allow carriers to terminate an annuity living or death benefit if a client sold the contract over the secondary market.
Insurers dead set against life settlement securitization
Industry group worried that securitization would encourage promoters to entice seniors to sell their life insurance policies, even when it's not in their best interests to do so.
New York Legislature OKs bill regulating life settlements
New York’s state Legislature has passed a bill that would to regulate life settlements, requiring brokers and intermediaries…
