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Regulation and Compliance > State Regulation

Financing entity hit with cease-and-desist

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The state of Florida in July ordered Great West Growth LLC to cease and desist its life settlement operations in the state, claiming the company was not licensed to operate in Florida. Kevin McCarty, the Florida insurance commissioner, said at the time that GWG’s lack of a license meant its customers were not protected by provisions of state law guaranteeing the financial solvency of entities doing business. GWG is cooperating with the order.