View more on these topics

Legal challenge over MetLife ‘too big to fail’ ruling


The US government is to launch a legal challenge after a judge found a decision to classify MetLife as “too big to fail” was unlawful.

The Financial Times reports a previously confidential ruling was made public yesterday which found the US government’s decision that the provider was a threat to financial stability was “arbitrary and capricious”.

US District Judge Rosemary Collyer also ruled classing MetLife as a systemically important financial institution did not take into account the impact and costs to the insurer.

Judge Collyer found regulators had “focused exclusively on the presumed benefits of [MetLife’s] designation and ignored the attendant costs, which is itself unreasonable”.

The US Treasury plans to appeal the ruling.

Treasury secretary Jack Lew says: “This decision leaves one of the largest and most highly interconnected financial companies in the world subject to even less oversight than before the financial crisis.

“The government will appeal the district court’s decision.”

MetLife was the only financial group to fight the US government over its classification in the courts.



MetLife chief: Govt guidance must consider new retirement products

MetLife UK managing director Dominic Grinstead has called on the Money Advice Service and Pension Wise to do more to inform customers about new retirement income products. Speaking to Money Marketing at the Labour party conference in Brighton yesterday, Grinstead said the Government-backed services must do more to make customers aware of choices outside of […]


MetLife launches ‘lower cost’ guaranteed drawdown product

MetLife has launched a new lower cost guaranteed drawdown product that it claims is the first genuine innovation since the pension freedoms were introduced in April. Money Marketing first revealed the insurer’s product development plans in May. The new Retirement Portfolio product allows investors to lock in investment gains on a daily basis. Investors can […]


MetLife cuts rates on guaranteed drawdown products

MetLife is to cut the rates on its guaranteed drawdown products, blaming a decline in long-term interest rates. In a note to advisers, the insurer says falling expectations of interest rates driven by plummeting inflation, pessimistic forecasts for global growth and dropping oil prices mean it has to cut the terms of its Secure Income […]

Artemis Global Income: Making sense of global markets

The rally in cyclical ‘value’ stocks paused for breath in February, as investors took a more cautious tone and switched their attention back to defensive areas. In this article, Jacob de Tusch-Lec, manager of the Artemis Global Income Fund, explains how he has positioned the portfolio, given the many economic, geopolitical and policy risks that […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm