New York officials may be looking at the process of helping life insurance policyholders sell their in-force policies to investors.
The office of New York Attorney General Eliot Spitzer has sent a subpoena to National Financial Partners Corp., New York, asking it about life settlement transactions, the firm says in a note in a Form 10-K annual report filed with the U.S. Securities and Exchange Commission.
Spitzer also sent a subpoena seeking the same information to an NFP subsidiary, NFP says.
NFP is a financial services distribution company that has acquired many smaller distribution firms over the past few years.
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