The Life Settlements Report - May 17, 2007

Beleaguered Provider Also Facing Two Lawsuits

Florida state regulators have moved to shut down Coventry First’s operation in the state, alleging that the life settlement industry’s leading provider has engaged in “fraudulent or dishonest practices.”

Proposed Law Requires Transparency on Compensation

Life settlement brokers and providers generally agree that consumers should know exactly how much in commissions they are paying to sell their life insurance policies on the secondary market. Full Story

Hedge Fund Accused of Cheating Taiwanese Investors

The Securities and Exchange Commission may go to court to seek a receiver to run the affairs of the Lydia Capital Alternative Investment Fund, which allegedly bilked more than 60 investors out of about $34 million. Full Story

• Advanced LSM in Talks to Partner with ‘Major’ U.S. Investment Bank
• Life Partners CEO Speculates that ‘Profit-Taking’ Hit Stock
• NAIC Committee Approves New Model Law Development Process
• NCOIL Accuses NAIC of Degrading Accreditation Program
• Closed sessions at NAIC Irritate Rhode Island Legislator
• Conway Leaves Legacy Benefits to Join Berlin Atlantic as EVP
• Sentencing Delayed for Florida Life Settlement Fraud
• San Diego Provider Hosts Webinar for Brokers