June 3, 2013 / 11:34 PM / 4 years ago

Prudential says US council proposed designating it for oversight

(Reuters) - Prudential Financial (PRU.N) said on Monday it had received notice that U.S. regulators proposed declaring the firm is “systemically important,” a designation that would bring stricter oversight.

Prudential said in a statement that it was considering whether to contest the proposed designation by requesting a hearing before the Financial Stability Oversight Council.

A final designation by the council, which is composed of the heads of financial regulatory agencies, would bring the firm under regulatory oversight by the Federal Reserve.

Reporting by Emily Stephenson; Editing by Gary Hill

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below