Federal securities regulators say a Texas-based life-settlement firm and three of its senior executives “systematically and materially underestimated the life expectancy estimates,” which in turn caused its shareholders to be “duped.”

A class-action suit has been filed by purchasers of securities from Life Partners Holdings (LPH), alleging that the Waco, Texas-based company and some of its officers and directors violated securities laws.

A small law firm serving as an escrow agent for a Texas-based life settlement company has received permission serve to also serve as its trust company.

A Texas-based life settlements firm has agreed to a settlement with Virginia regulators over allegations it failed to register its securities.

The New York State Insurance Department has proposed legislation to regulate life settlements, including life settlement providers and brokers, and the contracts forms used in transactions.

Eric Dinallo

“Life settlements can …  Read →