Mass pension and

Mass pension and “structured settlement” probe

May 13, 2013 – No sooner does FINRA and the SEC come out with warnings to, for and on behalf of people who might be considering buying and/or selling structured settlements and pensions (see our May 9 blog post) than we read about one state, Massachusetts, looking into practices of nine firms that buy these future cash flows.

InvestmentNews reports today that, among other things, the Commonwealth is looking into whether or not such offerings amount to unregulated securities.

This “Mass(achusetts) probe” comes on the heels of a similar effort in the State of New York where even stronger phrases like “fraud, misrepresentation and violation of usury laws” are being bandied about.

We expect to hear more about efforts like these and will be following this story very closely.

Stay tuned.

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