MetLife Deal Could Imperil Future SIFI Designations
Law360, New York (January 19, 2018, 9:32 PM EST) -- Future financial regulators will have a more difficult time targeting nonbank financial firms for extra regulation after the Trump administration on Thursday agreed to include cost-benefit and other analyses in future designations of systemically important financial institutions, experts said.
The Trump administration agreed to drop an appeal filed by the Obama administration of a 2016 court ruling that allowed MetLife Inc. to escape its designation as a systemically important financial institution. As part of the agreement, Treasury Secretary Steven Mnuchin said that the Financial Stability Oversight Council, or FSOC, which has the authority to designate nonbank firms as SIFIs, would update its...
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