ELSA

Dear All,

It is an exciting time to be taking on the task of chairing the European Life Settlement Association (ELSA). I’ve been with the organisation since the early days, watching it grow, and growing with it. It is great to see such encouraging developments taking place.

My predecessor, Patrick McAdams, Investment Director of SL Investment Management, has done a fantastic job with ELSA. My aim is to build on that and take us forward.

European Life Settlement Market Comes of Age
Trade Association Launched to Represent Eur9.5bn Asset Class
Europe’s life settlement industry officially comes of age today with the launch of its
new trade body, the European Life Settlement Association (ELSA). The association
has been established to promote highest standards, and to educate and inform retail
and institutional investors seeking assets that are uncorrelated with equities and
unaffected by volatility in global markets. The launch of ELSA follows a survey of

The trade body for the traded life settlement market, the European Life Settlements Association, has issued a code of practice for its members designed to increase protection for investors.

Elsa says: “Members must either comply with the code or face suspension and ultimately expulsion from the association.”

In February, FSA head of investment policy Peter Smith said he had “significant concerns” about levels of transparency in the industry in a speech at the Elsa trade mission in London.

Lessons of Keydata shape European Life Settlements Association Code of Practice

The European Life Settlements Association (ELSA) has today launched a Code of Practice designed to increase protection for investors in the expanding asset class of life settlements. The publication of the Code comes at a time of controversy for life settlements, which have come under increasing scrutiny from regulators and media alike as the asset class has spread further into the retail market.

The roundtable was told only one provider in the UK was selling traded life policy funds through a promoter regulated by the Financial Services Authority (FSA).

Participants in the debate argued more direct regulation of product providers' would be highly advantageous and would help raise the quality of their marketing material, the debate concluded.

The marketing material used by traded life policy fund providers was severely criticised in February this year by Peter Smith, head of investment policy in the conduct policy division at the FSA.

The European Life Settlement Association (ELSA) has formed a committee to work with European agencies to develop regulations that protect life settlement investors, as well as lobby for the industry's interests.

The new regulatory committee will be chaired by Brian Casey, a partner at the Atlanta office of law firm Locke Lord Bissell & Liddell, according to a statement from ELSA on Monday. It will engage with financial regulators in the U.K., Ireland, Luxembourg and the European Union.

The European Life Settlements Association has launched a Code of Practice designed to increase protection for investors following the collapse of Keydata.

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The Code aims to address key risks including portfolio liquidity, cashflows, concentration of risk for retail investors, fees, commissions, safekeeping of assets, counterparty risk, and longevity risk.

The European Life Settlements Association has launched a code of practice designed to increase protection for investors in the expanding asset class of life settlements.

The publication of the code comes at a time of controversy for life settlements, which have come under increasing scrutiny from regulators and media alike as the asset class has spread further into the retail market.