The Improbable Birth and Conceivable Death of the Securities Arbitration Clinic

Abstract

This article explores the birth. life and possible death of the securities arbitration clinic (SAC), a law school clinic in which students represent investors of modest means in arbitrable securities disputes with their broker-dealers. The article first describes the history of the SAC, how a SAC operates and how SAC students help investors. The article then reviews the pedagogical advantages and disadvantages of a SAC, and addresses the reluctance of many law schools to embrace this type of clinic. The article concludes by predicting whether these clinics have a future in lights of the modern challenges to legal education.

Keywords: clinics, securities, arbitration

JEL Classification: K22, K40