E&Y Resigns As Life Partners' Auditor Amid SEC Probe

Law360, New York (June 10, 2011, 1:53 PM EDT) -- Life Partners Holdings Inc. said Thursday that Ernst & Young LLP had withdrawn as its auditor as the U.S. Securities and Exchange Commission considers a lawsuit over the accuracy of data used by the Texas-based company to sell life settlement policies to investors.

Life settlement policies have recently come under scrutiny, with members of Congress pushing for tighter controls on the industry. The SEC called for life settlements to be regulated as securities in order to protect investors from fraud and market abuse last July....
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