“Tell me what can a poor boy do; ‘Cept for sing for a rock ‘n’ roll band?”
As a teenager I often pondered those lyrics and wondered if Mick Jagger was really a closet radical who was ready to “let his freak flag fly” (to cross-mix musical metaphors) and take to the streets to protest as was so often done in the 1960s. That Stones lyric popped into my head more than once over the past week when I was trying to sort out the story of Standard Chartered Bank (SBC) and the New York state Department of Financial Services (DFS) in the context of an international company subject to many different international regulators. Quite simply, what is a poor company to do when it is being investigated by multiple regulatory agencies or government departments in many different countries and with even further differentiated jurisdictions within the same country, such as the role of the (DFS) and the US Department of Treasury or Federal Reserve?
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