X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
(AP Photo/Douglas C. Pizac, file)

NEW YORK (AP) — Prudential Financial has lost its appeal to shed greater government oversight, after regulators made a final decision that the insurer is one of a group of financial companies so big that they could threaten the financial system if they were to fail.

Prudential said Thursday that after a hearing and final vote, the Financial Stability Oversight Council maintains that the company is ‘systemically important’ and therefore subject to stricter scrutiny. That could include requirements to boost its cash cushion against losses, limit its use of borrowed money and submit to inspections by examiners. It also will be under Federal Reserve supervision.

Complete your profile to continue reading and get FREE access to BenefitsPRO.com, part of your ALM digital membership.

Your access to unlimited BenefitsPRO.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical BenefitsPRO.com information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com

Already have an account?

 

BenefitsPRO

Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join BenefitsPRO.com now!

  • Unlimited access to BenefitsPRO.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
  • Exclusive discounts on BenefitsPRO.com and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2022 ALM Global, LLC. All Rights Reserved.