The Securities Arbitration Clinic assists under-served New York
small investors with securities disputes with broker-dealers in
arbitrations before the two primary self-regulatory organizations
in the securities industry, the National Association of Securities
Dealers Dispute Resolution (“NASD”) and the New York Stock Exchange
(“NYSE”).
The students provide representation in, among other things,
churning and unauthorized trading, unsuitability,
misrepresentation, and failure to supervise cases under the Rules
and Procedures of the NYSE and the NASD. Students provide
representation from initial client contact through confirming or
vacating arbitration awards in court. Students will perform
client and witness interviews, conduct full-scale investigations,
perform trading and suitability analyses, perform legal research,
draft all pleadings including statements of claim, answers,
replies, and motions. Clinical Students may also have
opportunities to negotiate settlements and draft settlement
agreements, conduct arbitration hearings, participate in
discovery and attend pre-hearing conferences. Clinical
students work with experts in the securities industry who
serve as financial consultants to Securities Arbitration
Clinic.
Students will develop essential lawyering skills, substantive
legal knowledge and professional responsibility while representing
clients. Professor Catalano supervises students in all aspects of
client representation.
The Securities Arbitration Clinic is a one-semester, in-house,
live-client, clinical program available to second and third year
students. Clinic students are required to attend a weekly
2-hour seminar (two weekly seminars during the summer), covering
broker-dealer regulation, arbitration theory and procedure, and
lawyering skills. Students are required to be
physically present in the clinic office for thirteen (13) hours a
week (20 hours during the summer) to answer telephone and in-person
inquiries about the clinic's services from small investors.
The office hours may also be used to conduct research, interview
clients and conduct conference calls. In some weeks, the time
commitment may be considerably more than 13 hours because of the
press of deadlines, conferences or hearings.
Students who have completed their first year of law school are
eligible to apply to the clinic. There are no other
prerequisites. Students are encouraged to take Evidence and
Trial Advocacy Courses.
Enrollment is limited. Students will be selected based
upon an interview with Professor Catalano and submission of an
application form, a resume, a cover letter, and an unofficial
transcript. The Clinic is located at the St. John’s Queens campus
located at 8000 Utopia Parkway, Belson Hall Room 2-26, Queens, N.Y.
11439.