ELSA Committee Remits:
All other committees report to the Executive Committee which overseas the general management of ELSA.
The Purposes and Mission of the ELSA Regulatory Committee are as follows:
1. To promote fair regulation of life settlement oriented securities products in the European Union.
2. To create and maintain strong relationships with securities product regulators in the European Union.
3. To promote the use of life settlements in connection with securities products where the U.S. life settlement policies have been acquired in compliance with U.S. law and best practices in the U.S. life settlements industry.
4. To promote harmony between U.S. securities laws and European securities laws where feasible for the sale of life settlement oriented products to investors, retail and institutional.
5. To promote the full and fair disclosure of all significant risks attendant to investments and life settlement oriented investment products, including without limitation, longevity risk, liquidity risk, tax risk and fraud risk.
6. To cooperate with the regulatory community to promote:
a. Clarity and simplicity of regulations
b. Transparency in the industry
c. Protecting privacy
d. Encouraging standardization and clarity of documentation
Code of Practice Committee
The Code of Practice Committee was responsible for the creation of ELSA’s Code of Practice and is in charge of monitoring the Code as a flexible document and updating it as necessary.
ELSA strives to promote the life settlements asset class by educating all those involved in the industry; including investors, regulators, the media and the general public. The Education Committee oversees this area of ELSA’s work and is comprised of both retail and institutional experts as well as the Public Relations Committee which advises on ELSA’s proactive media campaign.
The Finance Committee handles the ELSA budget.
The Membership Committee sits apart from the wider committee structure as an independent body assessing potential new members and compliance with the ELSA Code of Practice.