Michael Fugler, global life settlement expert with Welcome Life Financial Group was appointed to the European Life Settlement Association’s (ELSA) Regulatory Committee.
Purpose and Mission of the ELSA Regulatory Committee:
1. To promote fair regulation of life settlement oriented securities products in the European Union.
2. To create and maintain strong relationships with securities product regulators in the European Union.
3. To promote the use of life settlements in connection with securities products where the U.S. life settlement policies have been acquired in compliance with U.S. law and best practices in the U.S. life settlements industry.
4. To promote harmony between U.S. securities laws and European securities laws where feasible for the sale of life settlement oriented products to investors, retail and institutional.
5. To promote the full and fair disclosure of all significant risks attendant to investments and life settlement oriented investment products, including without limitation, longevity risk, liquidity risk, tax risk and fraud risk.
6. To cooperate with the regulatory community to:
a. Promote clarity and simplicity of regulations
b. Promote transparency in the industry
c. Protect privacy
d. Encourage standardization and clarity of documentation
see also www.michaelfugler.com