ELSA Introduces Informative Factsheet on the ELSA Code of Practice
[London, UK, 7th June 2023] – The European Life Settlement Association (ELSA), a leading trade association committed to advancing the life settlement industry, is pleased to announce the release of an educational factsheet that delves into the details of the ELSA Code of Practice (the Code). This comprehensive resource provides a summary of the Code, its historical context, and its four core sections, offering valuable insights into member conduct, product design, disclosure and reporting, and sales and marketing practices.
The newly launched factsheet serves as a vital tool for industry professionals, members, and stakeholders seeking a deeper understanding of the Code and its significance within the life settlement sector. The Code aims to promote transparency, ethical standards, and best practices throughout the industry.
Key highlights of the factsheet include:
- Member Conduct (Section A): This section outlines the expected conduct and professional behavior for ELSA members.
- Product Design (Section B): The factsheet explores the crucial aspects of product design, focusing on the need for member organizations to develop life settlement products that align with consumer interests, adhere to regulatory guidelines, and ensure appropriate risk assessment.
- Disclosure and Reporting (Section C): This section highlights the importance of comprehensive disclosure and reporting practices. It emphasizes the responsibility of ELSA members to provide clear and accurate information to policyholders, investors, and regulators, promoting transparency and informed decision-making.
- Sales and Marketing (Section D): The factsheet addresses the key principles related to sales and marketing activities within the life settlement industry. It underlines the significance of fair and responsible marketing practices, avoidance of misleading information, and compliance with relevant regulations and guidelines.
We are delighted to introduce this informative factsheet, which provides a comprehensive overview of the ELSA Code of Practice. We encourage all industry professionals to familiarize themselves with the Code and utilize it as a guide for best practice.
Christopher Wells, Executive Director
The educational factsheet on the ELSA Code of Practice is available for download on the ELSA website at https://elsa-sls.org/factsheets/. ELSA encourages all stakeholders, including industry professionals, policymakers, and regulators, to take advantage of this resource to deepen their understanding of the life settlement sector’s best practice framework.
The European Life Settlement Association (ELSA) was founded in 2009 to set standards for participants in the European life settlement industry. ELSA represents institutional investors, life settlement asset managers, and service providers to the life settlement market both in Europe and around the world, promoting transparency by providing accurate, authoritative information to investors, regulators, and the media. For more information visit www.elsa-sls.org.