MetLife Sifi win leaves G-Sii status meaningless – US lawyers
Federal court decision brings whole Sifi and G-Sii designation process into question
The decision by a US federal court to overturn MetLife’s label as a systemically important financial institution (Sifi) threatens to undermine efforts at global regulation, say key industry figures.
On Wednesday, March 30, US federal court judge Rosemary Collyer ruled the Financial Stability Oversight Council (FSOC) had been wrong to designate the US group a Sifi. The reasons behind the decision were issued under seal and will only become public after redactions next week.
MetLife’s success
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