That's something that I noticed when looking through Standard Treasury's Series A deck yesterday [1]. Their cost allocation for "Regulatory work" will cost almo

That's something that I noticed when looking through Standard Treasury's Series A deck yesterday [1]. Their cost allocation for "Regulatory work" will cost almost $3mm over the next 2 years, pre-lauch. And it looks like they're going to become a bank in the UK rather than in the US. It must have been even more costly to do the work in the US for them. [1] http://www.slideshare.net/linhir/standard-treasury-series-a-pitch-deck?ref=http://blog.zactownsend.com/standard-treasurys-series-a-pitch-deck http://www.slideshare.net/linhir/standard-treasury-series-a-... Screenshot of slide: http://gyazo.com/f2a23c97e1ef652ddbe6cdb5fadbf737 http://gyazo.com/f2a23c97e1ef652ddbe6cdb5fadbf737