Prudential is freed from 'too big to fail' label and the tough oversight that came with it [Los Angeles Times (CA)]
Prudential Financial, Inc. (PRU)
Last prudential financial, inc. earnings: 2/4 04:18 pm
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Source: Los Angeles Times
Prudential is freed from 'too big to fail' label and the tough oversight that came with it U.S. regulators agreed to stop labeling Prudential Financial Inc. as too big to fail, making the insurance company the last non-bank to escape a post-crisis designation subjecting firms to extra oversight. The Financial Stability Oversight Council agreed in a Tuesday vote that Prudential doesn’t pose a special risk to the stability of the financial system, the Treasury Department said in a statement. The other non-banks that had been deemed systemically important financial institutions — American International Group Inc., MetLife Inc. and General Electric Co.’s financial arm — were freed by council over the last few years. The decision to scrap Prudential’s designation removes an additional layer of regulatory oversight, potentially saving the life insurer millions of dollars annually in compliance costs. The Newark, N.J., company was named a systemically important financial institution in 2013,
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PRU
Earnings
- 2/6/24 - Miss
PRU
Sec Filings
- 4/16/24 - Form 8-K
- 3/28/24 - Form ARS
- 3/28/24 - Form DEF
- PRU's page on the SEC website