Life Settlements Likely to be Hot Regulatory Topic
The life settlement industry has seen an increase in the recognition in the weeks following a New York Times story of securitization of life settlements. Congress has already held hearings on these investments and the likely impact they will have on the financial markets. We will stay on top of this issue as it is very important for life settlement hedge funds and other managers who may want to enter this market through securitized investments.
FOR IMMEDIATE RELEASE: October 7, 2009
Life Settlement Society to Host Educational Webinar Series Beginning Oct. 22 Focusing on Securitization and Congressional Hearings
International Society of Life Settlement Professionals (ISLSP) convenes group of industry experts to offer insight into Life Settlement securitization and commentary on recent congressional hearings
SCOTTSDALE, AZ – The International Society of Life Settlement Professionals (ISLSP) has formed an education committee, to be headed by industry founder Wm. Scott Page. The committee will organize and host a series of educational webinars beginning Thursday, October 22. This first of three monthly webinars will serve as a follow-up meeting to discuss the recent Senate Finance Subcommittee hearing regarding the life settlement industry as well as recent issues gaining meaningful attention in the marketplace such as life settlement securitization.
The three ISLSP webinars are dedicated to investor and industry education with goals of clarifying benefits and misconceptions, while also providing a forum for extensive Q&A sessions and direct exchange of information among carefully selected top professionals in the industry.
“Our webinar sessions will enable participants to perform objective and in-depth analysis of industry developments and expose any conduct that would diminish the value of life settlement transactions,” said Andreas Hauss, ISLSP founder. “These transactions offer the seller needed liquidity and the investor non-correlated diversification to rebuild their wealth in these difficult economic times.”
The board of ISLSP has created the webinar series in response to the recent Senate hearing. This hearing was convened based on misconceptions about the prospective securitization of life settlement policies despite contrary and verifiable knowledge that life settlements now or in the near future do not pose risks similar to those experienced with mortgage backed securities.
In particular, subcommittee member Rep. Alan Grayson (D-FL) cautioned the committee to not confuse the Wall Street mischief that led to the current economic hardships with an industry that’s “helping people get the full value of their policies.” Closing his opening remarks he stated: “And I don’t think that this industry should be called upon to answer for the serious abuses that pervaded this economy in other areas over the past two years. And the sins of others should not descend on you.”
During the end of the hearing, committee Chairman Paul Kanjorski (D-PA), asked whether the panelists thought his committee was premature in holding the hearing, none did. Other committee members followed the lead by asking whether any panelists thought securitization of life settlements at this point could cause systemic risk to the world financial markets, again, none did.
According to George Polzer, ISLSP executive director, ISLSP is the only investor-oriented trade association exclusively dedicated to offering neutral, regular, easily accessible and understandable educational information for investors.
“To offer the highest and best price to the insured requires an efficient secondary market,” said Polzer. “Our association encourages investors to bring more capital, level the playing field and ultimately offer higher payouts.”
Event: ISLSP Webinar- “Understanding the Mechanism and Benefits of Life Settlements as an Investment”
When: 1st webinar October 21, 2009, 10:00 a.m. ET
More Information: For more information or to register visit www.islsp.org or call 480.278.5232.
ISLSP was founded by an international team of pioneering life settlement professionals and investors seeking to codify a standard life settlement assessment guideline which allows objective and accurate determination of the true value and risks associated with purchasing life settlement investments. ISLSP attracts new capital to the industry by educating investors, maintaining best practices and facilitating networking among best of breed and professional business partners. Visit www.islsp.org for additional information.
Other articles related to hedge funds and life settlements include:
- Definition of Life Settlements
- Are Life Settlements Securities?
- Life Settlement Case Law
- Sale of Viaticals
Bart Mallon, Esq. runs hedge fund law blog and has written most all of the articles which appear on this website. Mr. Mallon’s legal practice is devoted to helping emerging and start up hedge fund managers successfully launch a hedge fund. If you are a hedge fund manager who is looking to start a hedge fund (including a fund focused on life settlement investments or premium finance), please call Mr. Mallon directly at 415-868-5345.