Washington, D.C., (April 8, 2016) – “The right to seek judicial review of FSOC’s designation decisions is part of the Dodd-Frank Act itself. MetLife acted entirely appropriately in challenging FSOC’s designation of the company as a “SIFI,” a systemically-important financial institution.

“The federal court’s decision has made clear that FSOC needs to improve its procedures for designating SIFIs through greater transparency.

“In particular, FSOC needs to be clear about the analysis it undertakes in the designation process. At the same time, FSOC needs to offer an ‘exit ramp’ to companies so that they can understand the de-risking strategies they could employ to be de-designated from SIFI oversight.”

The American Council of Life Insurers (ACLI) is a Washington, D.C.-based trade association with approximately 300 member companies operating in the United States and abroad. ACLI advocates in federal, state, and international forums for public policy that supports the industry marketplace and the 75 million American families that rely on life insurers’ products for financial and retirement security. ACLI members offer life insurance, annuities, retirement plans, long-term care and disability income insurance, and reinsurance, representing more than 90 percent of industry assets and premiums. Learn more at www.acli.com.