Reuters: Regulatory News: Prudential says US council proposed designating it for oversight

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Prudential says US council proposed designating it for oversight Jun 3rd 2013, 23:27 June 3 | Mon Jun 3, 2013 7:27pm EDT June 3 (Reuters) - Prudential Financial 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.

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