Security Benefit, an insurance company linked to billionaire investor Todd Boehly, has received a reprieve concerning certain regulations targeting capital structures. The U.S. regulators have focused on addressing what they consider capital arbitrage. According to the source text, Security Benefit was the most notable user of the structure in question.
Original Source: https://www.ft.com/content/c448bbee-cc81-46f3-a784-41a982dd9eb5