By Brian Casey and Thomas Sherman ( January 19, 2018, 12:40 PM EST) -- While 2017 was a relatively quiet year on the regulatory front for the life settlements industry, two states, Delaware and Florida, each adopted major legislative reforms that will impact life settlements significantly in those states. There were far fewer important court cases affecting secondary life insurance market policy investors decided during 2017 as compared to 2016 and prior years. Finally, at the end of the year, there were important adjustments to the federal income tax code relating to calculation of the tax basis for sellers of life insurance policies, reporting to the Internal Revenue Service about life insurance policy sales, reports to be filed with the IRS by insurers about the payment of death benefits relating to policies sold in the secondary market and tightening of the transfer of value rules....