Prudential's 'Systemic' Label Upheld By Regulators

Law360, Los Angeles (September 19, 2013, 8:15 PM EDT) -- The Financial Stability Oversight Council has issued a final determination finding that Prudential Financial Inc. is to be designated as a “systemically important financial institution," opening the company up to a slew of new regulations, according to a Thursday filing with the U.S. Securities and Exchange Commission.

The final vote comes after Prudential met with federal regulators in July to sway them from classifying the company with the SIFI label, which was created by lawmakers in the wake of the financial crisis to ensure tougher oversight...
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