Prudential Won't Take Regulators To Court Over SIFI Label

Law360, New York (October 18, 2013, 5:49 PM EDT) -- Prudential Financial Inc. said Friday it will not seek to rescind the Financial Stability Oversight Council's designation of the company as a nonbank systemically important financial institution, which exposes the company to new regulations.

The FSOC's designation came in September and followed Prudential's July attempt to convince federal regulators not to take that step. The SIFI label was created by lawmakers in the wake of the financial crisis to ensure tougher oversight on companies whose failure might jeopardize the country’s overall financial stability.

"The company will...
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