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  "documentTitle": "The Bank of New York Mellon (BK)",
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      "kind": "callout",
      "text": "“If you can’t measure it, you can’t manage it”",
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      "text": "We question how the Company can manage this huge component of expense growth without detailed visibility and thoughtful analysis of its components and drivers",
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      "text": "BNY Mellon blames a significant portion of its expense growth since 2011 on regulatory and compliance costs\nDespite the significant increases in regulatory & compliance costs, BNY Mellon has been unwilling or unable to quantify its compliance expenses\nWe question how the Company can manage this huge component of expense growth without detailed visibility and thoughtful analysis of its components and drivers",
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      "text": "Formulate a long-term strategy for tackling compliance and regulatory costs\nImmediately conduct a comprehensive review of compliance and regulatory operations to restructure and streamline the compliance chain, eliminate redundancies and reduce costs",
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