New York, NY (July 21, 2010)—New York Law School received a $550,000 gift from The Clearing Corporation Charitable Foundation (the “Foundation”). The grant is the first-ever of its kind given by the Chicago-based foundation to a law school. It will be used to endow scholarships for students enrolled full-time in the LL.M. in Financial Services Law program who seek to gain valuable work experience through a fellowship with a financial firm, clearinghouse, government agency, or exchange.
New York Law School launched its LL.M. in Financial Services Law just one year ago. Already successful, the LL.M. in Financial Services Law program currently offers more than 50 courses involving all aspects of the laws, regulations, business, products, agreements, structure, and practices affecting global financial institutions, including several courses involving derivatives law and products. It is administered by a mix of full-time faculty who teach doctrinal courses and foundational skills, and leading lawyers in the financial services bar who teach courses focusing on advanced knowledge and practice skills. The 24-credit program is designed to be completed by full-time students in one year, while part-time students may complete the degree over several semesters depending on their course load.
“We are so thankful to The Clearing Corporation Charitable Foundation for their support of our LL.M. students and our teaching philosophy. One of the hallmarks of our program is a focus on real-world practice skills to enable practitioners to enhance their academic knowledge and expertise,” said Professor Ronald H. Filler, Director of the Center on Financial Services Law and of the LL.M. in Financial Services Law. “As a Clearing Corporation Charitable Foundation scholarship recipient, each LL.M. student will receive a fellowship at a major financial institution, clearinghouse, exchange, or government agency. Students will thus gain valuable hands-on experience working 15–20 hours per week during the academic calendar year and will receive academic credits for their time in the workplace.”
“The financial services industry is undergoing major legal, regulatory, and business changes globally,” said David Johnson, a Foundation Board Member. “We believe that New York Law School’s approach to legal education—a commitment to instilling academic knowledge paired with practical know-how—will result in producing effective leaders for the financial services field. We are pleased to support their efforts and look forward to the success of The Clearing Corporation Foundation Fellows.”
“We are very grateful to The Clearing Corporation Charitable Foundation for supporting our students. For some time, New York Law School has been setting a new standard for legal education with innovative programs that result in students graduating with a unique grounding in both theory and experience. In awarding its grant, The Clearing Corporation Charitable Foundation will further the transformation of New York Law School, evidencing a strong commitment to its educational approach with a major investment in the future of its students. We are so honored to have the support of such a forward-thinking charitable organization,” said New York Law School Dean and President Richard A. Matasar.
About New York Law
Founded in 1891, New York Law School is an independent law school located in lower Manhattan near the city’s centers of law, government, and finance. New York Law School’s renowned faculty of prolific scholars has built the School’s strength in such areas as constitutional law, civil and human rights, labor and employment law, media and information law, urban legal studies, international and comparative law, and a number of interdisciplinary fields. The School is noted for its nine academic centers: Center on Business Law & Policy, Center on Financial Services Law, Center for International Law, Center for New York City Law, Center for Professional Values and Practice, Center for Real Estate Studies, Diane Abbey Law Center for Children and Families, Institute for Information Law & Policy, and Justice Action Center. New York Law School has more than 13,000 graduates and enrolls some 1,500 students in its full- and part-time J.D. program and its four advanced degree programs in financial services law, real estate, tax, and mental disability law studies. www.nyls.edu