THE INVESTOR RIGHTS CLINIC (IRC)
Overview
The Investor Rights Clinic (IRC) provides a resource to individuals who may have claims against their broker for investment losses, but whose claims are too small for them to be able to find legal representation. Under faculty supervision, second and third year law students undertake all aspects of the intake, evaluation and prosecution of small investor claims in securities arbitration proceedings before the Financial Industry Regulatory Authority (FINRA), a self-regulatory organization that administers the largest forum for arbitration of securities claims in the United States.
Legal Assistance
The Clinic provides a resource to individuals of modest means who have suffered investment losses as a result of broker misconduct but, due to the size of their claim, cannot find legal representation. Under faculty supervision, law students provide legal assistance and advice to investors who may have claims involving misrepresentation, unsuitability, unauthorized trading, excessive trading (aka “churning”), and failure to supervise, among other claims. Students, in turn, gain valuable hands-on experience working on real cases, undertaking all aspects of client representation, including the intake, evaluation and prosecution of investor claims. The Clinic, which does not charge attorney’s fees, is funded by a grant from the FINRA Investor Education Foundation, and the Law School.
Community Outreach
In addition, the Clinic conducts financial literacy and outreach programs designed to educate the public about how to detect and avoid fraudulent investment schemes and broker misconduct, with particular attention to schemes targeting the elderly and retirees. As part of their clinical work, every student intern participates in preparing and presenting at least one educational outreach seminar each semester at various locations throughout South Florida, including community and senior centers, investment clubs, high schools, and the Law School.
Prospective clients, if you believe you have a claim please see our Prospective Client page.
Prospective students, if you are interested in joining the clinic, please visit UM’s Prospective Students page.