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Prudential Financial Sifi appeal ‘futile’

US insurers face re-designation if initial determination overturned

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

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