NEWARK, N.J.--(BUSINESS WIRE)--Prudential Financial, Inc. (NYSE:PRU) confirmed today that it has been notified by the Financial Stability Oversight Council (FSOC) that the company has been designated a systemically important financial institution by a final vote.
Under the Dodd-Frank Wall Street Reform and Consumer Protection Act, Prudential has 30 days to consider its response to FSOC’s determination. We are currently reviewing the rationale for the determination and our options.
Prudential Financial, Inc. (NYSE:PRU), a financial services leader with more than $1 trillion of assets under management as of June 30, 2013, has operations in the United States, Asia, Europe and Latin America. Prudential’s diverse and talented employees are committed to helping individual and institutional customers grow and protect their wealth through a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds and investment management. In the U.S., Prudential’s iconic Rock symbol has stood for strength, stability, expertise and innovation for more than a century. For more information, please visit http://www.news.prudential.com/.