UAlbany, Albany Law School Partner to Launch Financial Market Regulation Program
Contact Catherine Herman (518) 437-4980
Contact: David Singer (518) 445-3211 (Albany Law School)
ALBANY, N.Y. (March 13, 2006) -- The University at Albany and Albany Law School 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:
- Business of financial markets
and how regulations affect that business;
- Laws of securities regulation
and how those laws apply to financial markets;
- Public policy of securities
regulation and how regulations of the financial
markets should be designed and implemented;
- Technology of information management and data analysis essential to modern regulation.
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:
Richard Ketchum, chief regulatory officer, NYSE; Grace Vogel (University at Albany 1977), executive vice president, NYSE; John Malitzis (UAlbany 1989), vice president, NYSE; Michael Stone, past president of the Securities Industry Association Legal and Compliance Division, and former general counsel, Morgan Stanley Dean Witter; Jerry Citera (UAlbany '77), executive director , UBS Securities; Jeffrey Mishkin (UAlbany '69), partner, Skadden, Arps, Slate, Meagher & Flom, LLP, and co-chair of the Rockefeller College Advisory Board; Lewis Weiner (UAlbany '84), partner, Sutherland, Asbill and Brennan, and co-chair of the Rockefeller College Advisory Board; David Buzen (UAlbany '81), president, U.S. Financial Guaranty Business of DEPFA Bank; Herb Lurie (UAlbany '82), private investor and retired Chairman of Merrill Lynch's financial institutions investment banking group; Peter Bulger (UAlbany '77), chief operating officer, C.L. King; Paul M. Gottlieb, managing director and chief operating officer, RBC Capital Markets Corporation; Andrew Druch (UAlbany '77), general counsel, Americas Rabobank; Stephen P. Younger (Albany Law School '82), Patterson, Belknap, Webb & Tyler; Timothy Barker (ALS '82), managing director, U.S. Trust Company; Marisa Sotomayor (UAlbany '03, '04 MPA), student, Fordham Law School; Emil Bove (UAlbany '04), student, Georgetown Law School.
The University at Albany and Albany Law School 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.
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 98% employment rate for graduates.