NEWARK, N.J. (AP) — Insurer Prudential Financial said Friday it won't try to get regulators to reverse a decision that it is one of a group of financial companies so big that they could threaten the financial system if they were to fail.
In July the Financial Stability Oversight Council said Prudential was one of a group of companies whose failure would represent too much risk to the financial markets. The companies are subject to stricter scrutiny and Federal Reserve supervision as a result of the decision. Prudential appealed the decision and regulators ruled against it in September.
Other companies that received the designation included insurer American International Group Inc. and GE Capital, General Electric Co.'s finance arm.
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