NEW YORK (AP) — Insurer Prudential says it is weighing its options after government regulators found that it needs more oversight.
Prudential Financial Inc. said Thursday that after a hearing and a final vote, the Financial Stability Oversight Council decided the company needs greater government scrutiny.
In June, the council proposed that a group of firms including Prudential that aren't banks be subject to stricter regulatory oversight because they are potential threats to the financial system.
Prudential, which is based in Newark, N.J., says it has 30 days to consider its response. It says it is reviewing its options as well as the rationale behind the council's move.