WASHINGTON Oct 18 Prudential Financial
said it will not seek court review of a decision made earlier
this year by the U.S. risk council to designate the insurance
giant as "systemically important," a tag that will subject
Prudential to capital requirements and stricter federal
"The company will continue to work with the Board of
Governors of the Federal Reserve System and other regulators to
develop regulatory standards that take into account the
differences between insurance companies and banks, particularly
in the use of capital," the company said late Friday.
Earlier this year, Prudential had tried to persuade the
Financial Stability Oversight Council not to label the firm as
systemic, but the council voted to designate Prudential anyway.