Took me a while to find it, but here's the process of getting a PFD approved. I wonder how much UL charges, there is no talk of cost on the Coast Guard site.

Quote
APPROVAL GUIDANCE & INFORMATION: All PFDs are approved by the Coast Guard, but some require little or no direct USCG review prior to approval. All PFDs must be tested by the USCG’s Recognized Laboratory, which is Underwriters Laboratories, Inc. The Coast Guard will do a pre-approval review of any new concept prior to submitting it for testing to the Recognized Laboratory. (See discussion in “Note” below) Unless it is a new concept, most recreational PFDs may be submitted directly to the laboratory for approval.


Here's the Site