Outcry over Investec's 'I can't breathe' note

Johannesburg - A research note published by investment bank Investec [JSE:INL] with the headline "I can't breathe" caused an outcry on social media on Wednesday for its use of the dying words of Eric Garner, an unarmed black man killed in a police chokehold.

The Investec note focused on a decision by US authorities to put British bank Standard Chartered under greater regulatory scrutiny.

Ian Gordon, the analyst who wrote the note, said in it that the US government exerted arguably disproportionate control and influence over Standard Chartered's business.

Investec's compliance department approved the note after removing a more explicit comparison with the Garner case.

However, the bank later apologised.

"Investec apologises unreservedly for the inappropriate content in this morning's research note on Standard Chartered and for any offence caused. The content in question does not represent the views of Investec," the bank said.

The note prompted some sharp criticism. Benjamin Lawsky, New York's powerful banking regulator and one of the US regulators who has acted against Standard Chartered, tweeted: "Terrible. Should be disavowed with apologies by Investec."

Gordon was not immediately available to comment.

Garner's last words before he died in July have become a slogan for nationwide protests against police violence in the United States.

Terrible. Should be disavowed with apologies by Investec. http://t.co/Pm3VaZLiiz

— Ben Lawsky (@BenLawsky) December 10, 2014

RT @WSJeurope:Investec releases StanChart note with headline: 'I Can't Breathe' http://t.co/YldQ7l91Jc pic.twitter.com/eAqPA0tuFO

— Roberto Re (@robertore62) December 11, 2014

Behind-the-scenes story of how Jay-Z and others put "I Can't Breathe" shirts on grand stage: http://t.co/LaaRIR2XWo pic.twitter.com/Dl5tgaqvhC

— NYT Sports (@NYTSports) December 10, 2014