Monitor Named As Part Of BNY Settlement

Law360 (April 28, 2006, 12:00 AM EDT) -- Law firm Baker & Hostetler has been appointed by the Department of Justice to monitor Bank of New York, as part of the $38 million settlement over allegations of money laundering reached last fall.

Baker partners George A. Stamboulidis, Lauren J. Resnick and John J. Carney serve as examiners for the bank, and have been tasked with overseeing BNY’s suspicious activity practices, anti-money laundering procedures, and compliance with various laws and regulations, according to the firm.

The oversight period will last three years, as mandated by...
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