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FINRA OKs Variable Life Settlement Broker-Dealer

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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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