A Short-Lived Victory For MetLife Over SIFI Designation?
Law360, New York (April 12, 2016, 1:07 PM EDT) -- Frederick J. Pomerantz
Aaron J. Aisen MetLife Inc. is, at least for the time being, no longer a nonbank systemically important financial institution. On March 30, 2016, Judge Rosemary M. Collyer issued her long-awaited decision in the MetLife v. Financial Stability Oversight Council litigation. She held that certain actions taken by the Financial Stability Oversight Council (FSOC) during the evaluation process required the court to overturn the designation. Among these actions: 1) FSOC acted contrary to a clearly articulated rule that it promulgated explaining the criteria it would use to evaluate a company before imposing this designation; 2) FSOC failed to...
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