Think life settlements have it bad in the U.S.? An ongoing legal battle between the UK’s Financial Services Authority – its regulator of the financial services industry – and a Luxembourg-based life settlements operation has cost the company £2.5M, money the company can scarcely afford to do without. The fund, ARM Asset Backed Securities, had invested £38M in its ninth, 10th and 11th bond issuances, but those have been frozen in UK banks since November 2011, when the FSA prevented the funds from be moved from NatWest and HSBC accounts.
Byron Allen is the group's new vice chair.
A group of shareholders is seeking control of the parent, HC2.
The ruling applies to Transamerica's indexed annuities as well as to variable annuities and hybrids.
Sponsored by Orion Advisor Technology
Financial planning services help advisors differentiate themselves, improve client relationships, drive better outcomes, and more. So why don’t more advisors offer financial planning?
Sponsored by Orion Portfolio Solutions
Learn how to use seven relationship skills to attract, serve, and retain high-net-worth investors.
Don’t miss crucial news and insights you need to make informed investment advisory decisions. Join ThinkAdvisor.com now!
- Free unlimited access to ThinkAdvisor.com which provides advisors, like you, with comprehensive coverage of the products, services and trends necessary to guide your clients in making critical wealth, health and life decisions.
- Exclusive discounts on ALM and ThinkAdvisor events.
- Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.
Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.