Structured Settlements 4Real® Blog: Structured Settlements | Settlement Planning News and John Darer Reviews

The GPS For Fiscal Cancer

"The fact is, is that we don't face an immediate crisis. And, so people say, 'What's the problem?' The answer is, we suffer from a fiscal cancer. It is growing within us. And if we do not treat it, it could have catastrophic consequences for our country,"... "The cancer are massive entitlement programs we can no longer afford, exacerbated by a demographic glitch that began more than 60 years ago-- a dramatic spike in the fertility rate called the "baby boom."  David Walker, Comptroller of the Currency of the United States of America, March 2007 on his "fiscal wake up" tour. CBS News has the complete story at this link

Heard it before from political functionaries? I have. However this time it's a bit more haunting, perhaps because the horizon is not as far off for us at the tail end of the "baby boom" as it once was.

For those in the structured settlement and settlement planning field and our clients I think this makes what we do that much more meaningful. As government entitlements become less certain there will be a need for more certainty...the kind of certainty that can be provided by he products and services that we offer. Structured settlement annuities offer certainty, deferred income annuities offer certainty, structured attorney fee annuities offer certainty, structured sales annuities offer certainty and an IRC 1031 exchange alternative, divorce structured settlements,  environmental structured settlements and employment cases offer certainty.

If billowy clouds turn into "thunderheads and rolling fog" in the future our industry needs to be well positioned to be the GPS thats assists both injured claimants, their families, attorneys and the like to navigate the fiscal storm. It's important that the industry and individual practioners follow entitlement issues closely, to gauge how changes affect their clients, develop a deep understanding of the interplay and develop integrated solutions.

SEC "Financial Planning Rule" Overturned

On March 30, 2007 the District of Columbia Court of Appeals ruled that the SEC exceeded its authority in adopting Rule 202(a)(11), commonly known as the "SEC Financial Planning Rule" which granted a disclosure exemption to brokers who provide investment advice that is incidental to their business but who are still paid a special fee for the advice.

Copy of DC Court Ruling

The DC Court's response is related to a lawsuit filed by the Financial Planning Assocation (FPA). The FPA has been a long time opponent of the SEC Financial Planning Rule since it was first proposed in 1999.

The SEC has yet to announce whether it will appeal the ruling, or whether it will propose new rules as a result of the court's decision.

Financial Planning Association website

Press Reports

New York Times March 31, 2007

LA Times March 31, 2007

Black Horse and The Peachy Tree

by Structured Settlement Watchdog

When I first heard about JG Wentworth's suit against Peachtree J.G. Wentworth SSC Ltd v. Settlement Funding LLC, No. 06-0597 (E.D. Pa. Jan. 4, 2007)  I have to admit I relished a spectacle starring two of my favorite targets in a matter of alleged trademark infringement.  One could say it rivals the battle of hyenas versus the vultures at a wildebeest kill.

With the latter in mind, some in the structured settlement industry could ask the cliched question "Isn't (JGW's suit) that the pot calling the kettle black?"*** in relation to the Bryn Mawr bunch.  My personal opinions of these companies' advertising business practices aside, in filing suit, J.G. Wentworth is doing the minimum of what has to do to protect its trademarks. If you have a mark, know of an infringement, and do not attempt to protect it you may have weakened your protections in the future. That being said, if you file suit, you still have to prove your case. In this case, and I stress this case, the Court sided with Peachtree.

Professor Eric Goldman of the High Tech Law Institute at Santa Clara University, provides a detailed analysis on the case in a January 5, 2007 posting on his Technology and Marketing Law Blog

Professor Goldman's analysis says that this case stands for two clear legal propositions:

* if keyword-triggered ad copy doesn't display the plaintiff's trademarks, plaintiff loses
* if search results don't display the plaintiff's trademarks even though the trademarks were included in the keyword meta tags, plaintiff loses

Once again, it is important to remember that J.G. Wentworth SSC Ltd v. Settlement Funding LLC, No. 06-0597 (E.D. Pa. Jan. 4, 2007) is just one case. There are other cases that have been decided with a different conclusion. Thus, this doesn't mean that you can, or should, run out and buy Google Ad Words in the name of all of your competitors. This doesn't mean that you should program names of your competitors into the meta tags or descriptions on your website.

In my opinion, some companies engaging in the factoring of structured settlement payments are already inviting regulatory intervention by engaging in practices of implying directly or indirectly, that they are structured settlement brokers, licensed to provide structured settlement quotes, structured settlement funding, provide structured settlement payments and other terms. If one of those companies were to then program the name of a licensed firm, or its trademarks, into their meta tags or descriptions that would be interesting material for the attorneys general

Further reading on Technology Trademark issues related to domain names, search engines and meta tags

• Microsoft Issues Release on Cybersquatting Enforcement Campaign 08/23/2006
• Microsoft Sues Sploggers Jonas, Goggins and Cox 08/23/2006

*** in the opinion of this writer JG Wentworth, directly or through its alter egos and affiliates, is one of the "worst of breed" with respect to its "generous" contribution to advertising confusion