GE Capital, AIG Accept SIFI Label While Prudential Protests

Law360, New York (July 2, 2013, 8:31 PM EDT) -- American International Group Inc. and General Electric Capital Corp. will not contest their designations as nonbank systemically important financial institutions under the Dodd-Frank Act, but Prudential Financial Inc. will fight the label, the companies said Tuesday ahead of an appeal deadline.

The three companies were named as part of a preliminary list of nonbank SIFIs — insurers, mutual fund operators or other companies whose collapse could threaten the stability of the U.S. financial system — after a vote by the Financial Stability Oversight Council on June...
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