MetLife Sifi fight draws in state regulators

Insurance commissioners say views ignored by federal agencies


US state insurance regulators have accused federal agencies of ignoring their input in the designation of MetLife as a nonbank systemically important financial institution (Sifi).

MetLife was labelled a Sifi on December 19 last year by the Financial Stability Oversight Council (FSOC), with one voting member - Roy Woodall- dissenting. On January 13, the insurer filed a complaint in the US District Court for the District of Columbia to overturn the designation. It is the first nonbank Sifi to sue