Too-Big-To-Fail Label Looms For Large Insurers

Law360, New York (October 22, 2012, 8:45 PM EDT) -- The threat of significant new regulation became real for insurance giants last week when both Prudential Financial Inc. and American International Group Inc. landed on the Financial Stability Oversight Council's short list of potential systemically important financial firms, but what the designation will actually entail remains a frustrating mystery, attorneys say.

Though the insurance industry and some Republican lawmakers continue crusading against the classification of insurers as systemically important financial institutions, the FSOC is plowing straight ahead. The FSOC has so far told at least two...
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