Code of Ethics

Life Insurance Settlement Association (LISA)

The Life Insurance Settlement Association’s (“LISA”) Code of Ethics (the “Code”) is fundamental to the values of LISA and essential to achieving its mission. High ethical standards are critical to maintaining the public’s trust in life settlement markets and in the life settlement industry. The Code serves as a model for measuring the ethics of life settlement professionals, regardless of industry segment and/or applicable local laws and regulations. All Members must abide by the Code. Violations may result in disciplinary sanctions by LISA. Sanctions can include, but are not limited to, suspension or revocation of membership and revocation of the right to use the LISA service mark.

The Code of Ethics

Members must:

  • Act with integrity, competence, diligence, respect, and in an ethical manner with the public, clients, prospective clients and colleagues in the life settlement industry, and other participants in the life settlement markets.
  • Place the integrity of the life settlement industry and the interests of clients above their own personal interests.
  • Use reasonable care and exercise independent professional judgment when conducting an analysis of potential life settlement transactions on behalf of clients, making recommendations to clients or potential clients regarding life settlement transactions and engaging in other professional life settlement activities.
  • Act and encourage others to act in a professional and ethical manner that will reflect credit on themselves and the life settlement industry.
  • Comply with applicable state laws governing the life settlement markets.
  • Maintain and improve their professional competence and strive to maintain and improve the competence of other participants in the life settlement marketplace.

Certification and Compliance

Initial Certification:

As part of the application process for membership in LISA, each applicant for membership shall review the LISA Bylaws, the Code, and any other approved policies and procedures promulgated by the LISA Board of Directors (the “Board”), and shall certify compliance in writing as directed by LISA. If an applicant refuses to provide such certification, they shall be ineligible for LISA membership.

Annual Certification:

Every Member shall certify annually, on a form provided by LISA, that they are in compliance with the provisions of the LISA Bylaws, the Code, and any other approved policies and procedures promulgated by the Board.

Failure to Certify / Failure to Comply:

Any Member who fails to provide certification as prescribed by the Code or fails to comply with the provisions of the Code is subject to having its membership suspended or revoked by the Board in accordance with LISA Bylaws and procedures promulgated by the Board.

Review of Code:

The LISA Board of Directors shall periodically monitor the relevance and effectiveness of the Code. It is the intention that the Code shall be a living document and shall be updated, as required, taking into account any technical, regulatory, economic or social changes, directly or indirectly, in or affecting the life settlement industry.

These procedures were approved and implemented by the Life Insurance Settlement Association’s Board of Directors on September 23, 2022.

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