Program in Financial Market Regulation

Financial markets are among the most important and dynamic systems in the world. Public and private regulators, financial services firms, law firms, and other organizations all play key roles in operating these systems effectively and ethically.

The University at Albany’s Bachelor of Science in Interdisciplinary Studies with a faculty-initiated concentration in Financial Market Regulation provides a unique program that prepares students for professional work in the field or further study in graduate and law school.

While the interdisciplinary major focuses on financial market regulation, it also provides knowledge applying to diverse areas in the private, public, and nonprofit sectors. Students normally are able to combine studies in Financial Market Regulation, such as through a second major, with majors in Accounting, Business, Computer Science, and other related fields. Graduates have found such combined programs to be a major advantage in pursuing work in the business and regulation of financial markets.

Students pursuing the Interdisciplinary Studies major study four areas:

  • The business of financial markets
  • The law of financial regulation
  • The public policy issues underlying financial regulation and supervision
  • The technology of information management and data analysis essential to modern business and regulatory systems

A recurring theme in the program is the importance of ethical considerations and issues. These include judgments confronted constantly by individuals, business, and regulatory organizations, such as distinguishing "aggressive" but permissible conduct from legal and regulatory violations.

Students in the FMR concentration take ten required courses, listed below. Students also choose two courses in accounting and information technology. Entry-level positions in the examination of financial institutions commonly require at least nine credits of accounting; thus students wanting to compete for such positions should select two electives in accounting to complement the required B ACC 211. In contrast, entry-level positions focused on market surveillance require detailed coursework on information technology. Advisors work with students to identify the appropriate mix of electives given students' career interests.  

Advisory Council

An Advisory Council of professionals in financial services, law, and regulation assists the Financial Market Regulation Program as part of a joint initiative of the University at Albany and the professional community in financial market regulation and supervision. The Council members work actively with the University at Albany to design course offerings, internship experiences, and other career services.

Internship Program for the Interdisciplinary Studies Major

Students in the Interdisciplinary Studies major with a faculty-initiated concentration in Financial Market Regulation are encouraged, but not required, to complete an internship, usually over the summer between the junior and senior years, in a regulatory organization, financial firm, law firm, or related organization. Employing organizations provide these internships on a competitive basis, and the participating academic units and the Advisory Council work with students to prepare them for the selection processes.

Admission to the Interdisciplinary Studies Major

Students pursuing the Interdisciplinary Studies major with a faculty-initiated concentration in Financial Market Regulation take a designated series of courses or appropriate substitutes approved by the Academic Program Advisor; the major has a minimum of 36 credits of coursework. Students should apply for admission to the major by contacting the School of Business Office of Student Services.

To be admitted to the major, students must have an overall grade point average of 3.00. They also must have completed the lower-level courses in accounting, computer science, information technology, and regulatory policy for the major (B ACC 211; C INF 108; B ITM 215; and B FIN/R PAD 236) with an average of 3.00 (B) or better.

Students should apply to the major after completing at least three of the four specified lower-level courses, though a final decision on admission will be made only after completion of all four.  At the time of application, and also at admission, the student’s overall GPA must be 3.00 or better, with an average of 3.00 or better in the specified lower-level classes. Admitted students also should have completed at least 56 credits toward graduation. Students must maintain their 3.00 until at least the end of their junior year (sixth semester) in order to retain their status in the major.

Because of the requirement of a 3.00 average in specified lower-level courses, candidates for the major must take these classes used to fulfill admissions requirements on a graded (not S/U) basis.

NOTE: Students who major in Financial Market Regulation may not select a minor in Business Administration.

Temporary Modification to Admission Requirements
In the spring of 2020, in response to the COVID-19 pandemic, the School of Business agreed to a temporary, four year change to the overall grade point average required for admission. Both freshmen and transfers seeking to declare a major in the School of Business must have a cumulative grade point average of 3.00 or higher, a reduction of the previous requirement of 3.25.

Degree Requirements: Bachelor of Science in Interdisciplinary Studies with a
faculty-initiated concentration in Financial Market Regulation

A minimum of 36 credits, as follows:

Accounting and Finance
B ACC 211 Financial Accounting
B ACC 313 Financial Statement Analysis
B FIN 300 Financial Management
B FIN 301 Corporate Financial Policy and Strategy
B FIN 333 Investment Management
B FIN 375 Money and Capital Markets

Public Policy and Law
B FIN/R PAD 236 Crises and Regulation in Financial Markets 
B FIN/R PAD 435 Law in Financial Market Regulation
B FIN 439/R PAD 436 Financial Technology and Regulation

Information Technology Tools and Applications
C INF 108 Programming for Problem Solving
B ITM 215 Information Technologies for Business
B ITM 330 Improving Business Performance with Information Technologies
(Students normally will need to take A MAT 106 and A MAT 108 or A ECO 320 or other equivalent class in statistics as prerequisites for B ITM 330.)

Department Contact:
Chair, Finance Department