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 b
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