New financial regulation course takes you to Washington, D.C.

ROSE_2015_Fed_After_500W_375HBy Associate Professor Benjamin M. Cole

Undergraduate and graduate Gabelli School students will have a rare opportunity this spring: doing research that could change the way Wall Street operates—while earning academic credits for the work.

The Regulatory Outreach for Student Education (ROSE) Program is a hands-on educational experience for those interested in careers in accounting, finance or compliance. It will be offered during the spring 2016 semester.

For the past three years, the program has allowed students to get directly involved with issues of regulatory oversight in the U.S. financial services industry. For the first time this year, however, it will be offered as a credit-bearing course, meeting 5:50 p.m. to 7:50 p.m. Wednesdays at Lincoln Center.

The ROSE program gives students insight into the subtleties of the ongoing debate between industry professionals and policy makers within the federal government. It also gives them real-world experience that truly makes a difference in business school.

The evening time slot will allow for numerous outside speakers to visit and share their experiences. The course will end with an all-expense paid excursion to Washington, D.C. The trip will mirror the type of day-trip that banking executives make regularly – catch an early train to D.C., meet with officials at places such as the Fed and the SEC, grab lunch and dinner when you can, and then catch a train back to New York.

Students who participated in the spring 2015 offering were asked to write a response letter to a consultative document put out by the Financial Stability Board (FSB) based in Basel, Switzerland. The topic of the project was “Standards and Processes for Global Securities Financing Data Collection and Aggregation” in the securities lending industry, which is part of what is often referred to as the “shadow banking industry.”

The students’ letters appear on the FSB website alongside those produced by Amundi Asset Management, the Canadian Bankers Association and the ICMA European Repo Council.

“I thought the program was a great learning experience. I definitely have a better appreciation of what goes into our financial regulatory system now than I did before the program,” said Joe Gorman, BS ’18, who is part of the new Lincoln Center undergraduate program. “Going to Washington was a great way to experience a day in the life of someone in this industry.”

Chris Meyer, the former chief operating officer of an international algorithmic trading firm, will teach the course.

The Gabelli undergraduate offering is MGBU 3552 (CRN: 28011); the Gabelli graduate offering is MGGB 76BK (CRN: 28021). Interested BA and MA students in the Economics department (FCLC/FCRH) can enroll in ECON 5552 (CRN: 29014).

The course is funded by Ed Blount, FCRH ’69, a Securities Services Hall of Fame Inductee.

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