SEC To Investigate Life Settlement Market

Law360, New York (September 16, 2009, 8:04 PM EDT) -- The U.S. Securities and Exchange Commission reportedly is probing life settlements, a financial product that allows people to cash in on their life insurance policies, often on the eve of their death, by selling it to a third party who becomes the named beneficiary.

SEC spokesman John Nester confirmed Wednesday that Chairwoman Mary Schapiro had formed a multidisciplinary task force assembled from several divisions such as trading and markets, enforcement, and corporation finance to investigate the billion-dollar life settlement market.

The task force was formed in...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.