Published on March 30, 2009 | by LawNews
Prof. Curtis Pew Comments in National Law Journal Story on Securities Arbitration Clinics and FINRA Arbitration Claims
Professor Curtis Pew was quoted in the following National Law Journal article.
FINRA faces blitz of claims
Arbitration cases jump due to unrest.
By Marcia Coyle
National Law Journal
March 30, 2009
Accused of lax oversight in the wake of recent financial frauds, FINRA, the largest nongovernmental regulator of securities firms, is now facing an explosion of arbitration claims stemming from troubles in the capital markets.
Moving some of those claims into the FINRA arbitration process are about a dozen law school securities arbitration clinics across the country, which, say their directors, are fielding numerous requests for help, often from elderly investors.
“It’s really gone crazy in the last month,” said Professor Curtis Pew, director of the clinic at Hofstra University School of Law. “We literally are getting a call a day, and from all over the country. Our funding limits us to people who are linked to our area at the time the claim arose or who are here presently. I just wish I had more money.”