Prudential Gears Up To Combat 'Systemic' Label

Law360, New York (July 22, 2013, 5:42 PM EDT) -- Prudential Financial Inc. is reportedly meeting with federal regulators on Tuesday to sway them from naming the company as systemically important to the U.S. financial system, a designation that brings a slew of new requirements.

The life insurance giant will urge the Financial Stability Oversight Council to nix a proposed classification of Prudential as a systemically important financial institution. The SIFI label was created by lawmakers in the wake of the financial crisis to ensure tougher oversight over companies whose failure might jeopardize the country's overall...
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