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Wednesday, July 3, 2013

Prudential Financial Will Contest SIFI Designation

The Hill is reporting that Prudential Financial Inc. announced on Tuesday it would challenge its proposed designation as a “systemically important” institution. The announcment comes nearly a month after the Financial Stability Oversight Council (FSOC) voted to move forward with plans to designate “an initial set” of undisclosed firms as systemically important financial institutions (SIFI).

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