NYC Gazette

Seven students from the Law School's Securities Arbitration Clinic recently visited Washington, D.C., to learn about investor and policy advocacy. The clinic, based at St. John's Law for two decades, provides students with the chance to represent underserved investors in securities arbitration claims before the Financial Industry Regulatory Authority (FINRA). Under the guidance of Clinic Directors Christine Lazaro and Elissa Germaine, students gain skills in client interviewing, counseling, negotiation, and advocacy.

Beyond client representation, clinic participants engage in policy initiatives by responding to public comment requests from the U.S. Securities and Exchange Commission and FINRA. They also conduct investor education sessions for peers and local communities. "As they represent clients and engage in other forms of advocacy, our students learn about the vast ecosystem of private and public efforts to protect vulnerable investors in the United States," said Professor Lazaro. The Washington trips introduce them to key figures within that ecosystem.

This year's itinerary was organized with help from the University of Miami School of Law’s Investor Rights Clinic. "As it usually does, our time in D.C. included a visit with FINRA," stated Professor Germaine. Additionally, meetings were arranged with representatives from the Certified Financial Planner Board of Standards (CFP Board), Better Markets, and AARP to focus on government affairs and policy advocacy.

These organizations are significant voices in investor advocacy according to Professor Lazaro: “I’ve worked closely with all three organizations in connection with fiduciary rulemaking.” Students found these interactions formative; Katie Loy ‘25 highlighted meeting FINRA attorneys as a rewarding experience linked to her past role as a Registered Representative licensed by FINRA.

Aria Lugo ‘25 found meeting CFP Board representatives particularly impactful: “The talks given by professionals were highly informative,” she noted. The visit offered insights into regulatory requirements for financial planners which complemented her legal studies.

Professors Lazaro and Germaine look forward to future trips following this semester's success: “The trip offers students a truly immersive experience outside the classroom,” they remarked.