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Prudential In Final Stage of U.S. Systemic-Risk Review
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Prudential Financial Inc., the second-largest U.S. life insurer, is in the last stage of a regulatory review that may impose extra oversight because its central role could endanger the economy if the firm ever failed.
The Financial Stability Oversight Council told Newark, New Jersey-based Prudential that it has advanced to a third round of evaluation, which could tag the company as systemically important, Scot Hoffman, a Prudential spokesman, said today. Firms in that category could see dividends and buybacks curbed as regulators try to head off a repeat of the 2008 crisis that almost destroyed the banking system.