Arent Fox partner Jule Rousseau was quoted in Life Settlements Report commenting on a Securities and Exchange Commission task force recommending federal oversight of life settlement intermediaries.

‘The task force recommended that life settlements be defined as securities under federal securities laws in a 43-page report released yesterday, which resulted from almost a year of study. … But the task force is not recommending that securities laws regulate the sale of a policy from an insured to the provider, which is regulated by state insurance departments. "I don't think it's a surprise in an age of increasing regulation," said Jule Rousseau, an attorney with Arent Fox in New York, in response to the SEC staff report. "I'm hoping it will be good for the industry. It's just like all the life settlements laws [in the states] are good for the industry." But he said the one impediment that makes the asset difficult for investment is the fact that most states allow challenges on insurable interest after the two-year contestability period.’

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