October 29, 2007 at 11:02 PM
The Financial Industry Regulatory Authority has given Invescor Wholesale BD Inc. permission to expand into the secondary life insurance market.
FINRA, Washington, is a broker-dealer group that helps regulate broker-dealers.
Invescor Wholesale, a unit of Invescor Ltd., Farmington Hills, Mich., now can process other broker-dealers’ sales of in-force variable life policies through life settlement transactions.
Invescor Wholesale says it has developed its own Web-based system, the LifeSettleWare system, to process the variable life settlement business.
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