New York and London partner Tom Dawson was quoted in a Business Insurance article titled, “MetLife victory gives hope to other ‘too big to fail’ firms.” The article discussed a District Court ruling that overturned MetLife’s “fatally flawed” designation as a “Systemically Important Financial Institution” (SIFI), which left the insurance company subject to heightened reporting and financial stress tests.

Tom commented on a potential “rigorous” appeal that was promised by Treasury Secretary Jack Lew.  The promise could “dampen enthusiasm for AIG or Prudential to try to dedesignate,” he said.

“It’s conceivable that Treasury could prevail on the appeal; but if they don’t, I think at worst, Judge Collyer has given them pretty detailed instructions on how to proceed the second time around.”

Read: MetLife victory gives hope to other ‘too big to fail’ firms

Source: Business Insurance