MetLife Sifi fight draws in state regulators

Insurance commissioners say views ignored by federal agencies

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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