The traded life policy investments (TLPI) market has "significant problems" and is in no way a mainstream option for investors, the FSA's head of investments said today.
TLPIs are "complex products with a number of inherent risks", and should only be offered to "sophisticated investors", Peter Smith told the 2010 Life Settlement Trade Mission in London today. The "mission" brings together the European Life Settlement Association (ELSA) and America's Life Insurance Settlement Association (LISA). Doug Head, chief executive of LISA said the mission's aim is to"keep markets open, in a regulated way, for sellers who have no complaints about these products". "We believe there are great benefits to these products," he says. However Smith told delegates...
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