It was a short phone interview with two employees. Pretty general questions. It would be a good idea to include the SEC's three-part mission statement and tie in your relevant experience to that. Show that you have an interest in securities law and the markets, generally. They asked about why I wanted to be in the offices that I chose (once you receive an offer, you can change the offices), so have an explanation. Be personable. Smile. Phone interviews are tough but if you smile, you tend to sound happier and more excited. Both of the people I interviewed with were very nice. It became more of a conversation towards the end. At then end of the phone call, they offered me the internship and I accepted. AMAZING place to work! I love the people I work with and the work that I do. Too bad it was just an internship :)