October 11, 2009 at 08:00 PM
Welcome Life Securities L.L.C. has received approval from the Financial Industry Regulatory Authority to enter the securities business.
Welcome Life Securities, Boca Raton, Fla., will sell institutional trading services to life settlement providers that want to market variable life policies to institutional investors.
Fewer than 30% of life settlement providers are buying variable policies, in part because of confusion about compliance issues, the firm says.
The firm says it can reduce uncertainty by helping providers and investors comply with the rules that govern securities transactions.
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