Prudential Financial Sifi appeal ‘futile’

legal

US insurer Prudential Financial's attempt to challenge its status as a non-bank systemically important financial institution (Sifi) will ultimately prove ineffectual, claim lawyers.

On Tuesday July 2, Prudential Financial announced it had submitted a request to the US Treasury's Financial Stability Oversight Council (FSOC) for a private hearing to appeal the proposed designation.

It is the first US firm to contest a Sifi designation by the FSOC.

But legal experts say the challenge is likely to

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

Register

Want to know what’s included in our free membership? Click here

This address will be used to create your account

The future of life insurance

As the world constantly evolves and changes, so too does the life insurance industry, which is preparing for a multitude of challenges, particularly in three areas: interest rates, regulatory mandates and technology (software, underwriting tools and…

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here