Product type: Assignment.
Assignment company: St James Assignment Corporation.
Obligation funding asset: Fixed Income and Variable Income Annuities
Funding asset instruments: US Treasuries, AA+ Corporate and Equity instruments.
Annuity provider: St James Assurance Corporation.
Premium parameters: US$2M minimum, US$10 maximum pre-approved.
Measuring life: Attorney / Plaintiff only.
Beneficiary designation: Allowed, changeable.
Payout parameters: Annual only. Earliest first payout is year 6. Payment to law firm allowed.
Maximum life of annuity: 25 years.
Product compliance: Legal opinion.
Market focus: Attorney fees from Qualified Settlement Funds (QSF) with multiple
claimants in physical injury settlements qualifying under IRC S104 and
Non-Physical Injury Disputed Settlements.
Document requirements: Assignment Agreement, Settlement Agreement, Hold Harmless
Agreement, W-9, Trust Approval, Disbursement Court Approval.
Signature requirements: Assignor, Assignee, Attorney, Claimants or designee.
Broker remuneration: Not Provided by St James Assignment. Provided by Financial Advisers’ / Attorneys’ Clients.
St James’ Fees/FET: 3% of Premium:- St James 2%; FET 1%
Distribution: Attorneys and their Structured Settlements Advisors/Brokers
SEC Requirements: All companies in the St. James Group are formed and regulated outside
the USA and only do business with USA persons on a regulation-
exempted basis. This means that any purchaser of a St. James Annuity
who is a USA person must be exempt from U.S. Securities and Exchange
Commission (SEC) regulation by virtue of either Regulation D, which
applies to persons who are “Sophisticated Investors” (and given the
intended size of the St. James product it is anticipated that all purchasers
will qualify for this exemption), or the Regulation S exemption, which
applies when the transaction occurs entirely outside of the United States.
In some cases both exemptions will apply.
As part of its due diligence process, St. James will require that all applicants for a St James Annuity complete the proper documentation confirming that they are covered by one or both of the Regulation “D” or “S” exemptions as described above.
