Albany Law School and the University at Albany announced today the creation of a new financial market regulation program that addresses industry concerns about fairness and accountability in U.S. financial markets. The program combines the four disciplines of law, business, public policy and technology-along with expert input from Wall Street executives and partners in international firms-to prepare undergraduate and graduate students for careers in regulation and supervision of the financial markets. The program will begin accepting students for the fall semester of 2006.
"Through this partnership, which combines the strengths of a top-flight law school and a major research university, we will offer a comprehensive program that will meet the educational needs of tomorrow's executives," said Kermit L. Hall, President of the University at Albany. "We thank our accomplished alumni and friends in the financial services industry, regulatory organizations, and major law firms who aided in the development of this program."
"Given the increasing apprehension over keeping the financial markets running efficiently and equitably, it is essential that we train the next generation of professionals in this field," said Thomas F. Guernsey, President of Albany Law School.
"This program will begin to address the shortfall in trained professionals needed by the industry and regulators to insure well-functioning, transparent markets," said Richard Ketchum, chief regulatory officer of the New York Stock Exchange (NYSE) and member of the program's advisory council. "I commend UAlbany and Albany Law School for their foresight in launching this initiative."
The program involves interdisciplinary coursework, seminars, mentoring and internships. Students will receive training on the four academic areas essential to developing proficiency in the field of financial market regulation, as well as coursework on ethics practices throughout each are of focus:
An advisory council has been formed comprising members of the faculty and staff of the four academic units as well as representatives of major financial institutions, regulators, industry groups and law firms. Members include:
Albany Law School and the University at Albany will also work closely with The New York Stock Exchange (NYSE), the Securities Industry Association Legal and Compliance Division and other regulatory and industry groups to develop course content, to establish internship programs and to provide employment opportunities for graduates of the program.
Further information can be obtained by calling David S. Liebschutz, Assistant Dean of Rockefeller College, at 518-442-5253.
Albany Law School is an independent private school in the heart of New York State's capital. As the oldest law school in New York, the 155-year-old institution offers 750 students an innovative, rigorous curriculum taught by a committed faculty. Several nationally recognized programs-including the Government Law Center, the Albany Law Clinic and the Science and Technology Law Center-provide opportunities for students to apply classroom learning. Students have access to New York's highest court, federal courts and the state legislature, as well as a thriving tech center, leading to a 96 percent employment rate for graduates.
The University at Albany's broad mission of excellence in undergraduate and graduate education, research and public service engages 17,000 diverse students in nine degree-granting schools and colleges.
Contacts: Catherine Herman 518-437-4980 (UAlbany)David Singer 518-445-3211 (Albany Law School)