US Sifi process ‘stacked against insurers’ as Prudential Financial ends appeal

federal-reserve-hq

Prudential Financial has declined to appeal its status as a non-bank systemically important financial institution (Sifi), ending months of legal wrangling with the Financial Stability Oversight Council (FSOC).

The US insurer will join AIG in becoming subject to enhanced supervision by the Federal Reserve Board and is likely to face increased reporting requirements and higher capital charges.

Prudential Financial lost an initial private hearing challenging the FSOC's proposed Sifi determination e

To continue reading...

You must be signed in to use this feature.

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 indvidual account here: