By: La’ Nise Harrington Spring 2017 Student Intern
On January 10, 2017, Robert W. Cook, the CEO of FINRA, released comments entitled Remarks: SIFMA Compliance and Legal Society. The comments are a precursor to a Public Notice that will be asking for feedback surrounding FINRA’s transparency. Cook’s comments detail why transparency is important to FINRA and shows his commitment to it.
Cook believes that transparency increases engagement and accountability and credits FINRA’s self-regulatory nature for these attributes as it causes a greater collaboration of knowledge within the industry. Obviously transparency is important to FINRA, but you may be wondering: Why is FINRA transparency important to me?
Join the Investor Advocacy Clinic and the Philip C. Cook Low-Income Taxpayer Clinic this Monday for Making the Move: From Student to Lawyers. Sessions will be held at noon and 5 pm in room 342.
Invited speakers –
- Noon Panel
Rachelle Carmel, SunTrust (JD ’16); Steven T. LaBriola, Fellows LaBriola; Michael McLaughlin, Jones Day (JD ’14); and David Risman, Ernest and Young (JD ’14).
- 5 pm panel
David G.H. Brackett, Bondurant Mixson & Elmore; Alexandra Hughes, Carlock Copeland (JD ’16); Morgan Marsh, The Wiggam Law Firm (JD ’16); and Jason Wiggam, The Wiggam Law Firm (JD ’10).
Food will be served.
James Mitchell, clinical supervising attorney, teaches in the HeLP Legal Services Clinic. Mitchell earned his juris doctorate from Notre Dame Law School, where he served as senior editor of the Notre Dame Law Review. While in law school, Mitchell completed an externship with the U.S Court of Appeals for the Seventh Circuit in Chicago. He also participated in the U.S. Securities and Exchange Commission’s Summer Honors Program.
By Kelly Robinson, Fall 2015 Student Intern
The Investor Advocacy Clinic was a great success for me. I really enjoyed being exposed to the firm environment and becoming acquainted with what will be expected of me in my career. I really enjoyed working with clients, as I had not had a chance to do that before and the clinic allowed me to practice with clients in a variety of different environments, such as performing an intake interview and preparing them for discovery. While it was an extremely nerve-wracking experience for me, it was also very valuable because I now have a frame of reference for future interviews and interactions with clients.
By Robert Noens, Spring 2017 Student Intern
As an aside, I want to mention that I began this Wednesday’s Word with a different term. I originally wanted to define Business Development Company, or “BDC” in the investing world. So, like any good Investor Advocacy Clinic Student Intern, I began my search on FINRA’s website, and, according to FINRA:
BDCs are typically closed-ended investment companies. Some BDCs primarily invest in the corporate debt and equity of private companies and may offer attractive yields generated through high credit risk exposure amplified through leverage. As with other high-yield investments, such as floating-rate/leveraged loan funds, private REITs and limited partnerships, investors are exposed to significant market, credit and liquidity risks. In addition, fueled by the availability of low-cost financing, BDCs run the risk of over-leveraging their relatively illiquid portfolios.
Now, after reading that definition, I knew one thing: I had bitten off more than I could chew for a blog post that had to be completed in under 1000 words. For one thing, the definition and operation of a BDC seemed to largely rest on the concept of leverage, but what is leverage? Well, as it turns out, a simple Google search of the word “leverage” can quickly lead one down a rabbit hole investment vehicles and terms. Leverage is everywhere. And before I set out my overly eager and foolhardy task to create a BDC’s guide dummies again anytime soon, I must first conquer the definition of leverage.
Sylvia Caley (J.D. ’89), clinical professor, is director of the Health Law Partnership (HeLP), a medical-legal community collaboration among Children’s Healthcare of Atlanta, the Atlanta Legal Aid Society and the College of Law. She also is co-director of the in-house HeLP Legal Clinic.
Clinic applications are due on Wednesday, February 22, 2017, at 11:59 pm. Don’t miss out on this great opportunity to join the HeLP, Investor Advocacy, or Tax clinics.