Prudential Financial is challenging its government designation as “too big to fail’ and the heightened regulatory requirements that go along with that determination.
In June, the company received notice from the Financial Stability Oversight Council that, although not a bank, it was facing designation as a Systemically Important Financial Institution (SIFI). Pursuant to the Dodd-Frank Act, it would then be subjected to stricter prudential regulatory standards and supervision by the Board of Governors of the Federal Reserve.
