Hedge Fund Lawyers Job Description, Duties & Salary

History

It’s a regulatory jungle out there. At least that’s what many hedge fund managers are probably thinking as their previously largely unregulated industry has begun to receive close scrutiny and regulation in the wake of hedge fund financial scandals, the Great Recession of the late 2000s, and growing demand by investors for more transparency. One major law that affects the hedge fund industry is the Dodd-Frank Wall Street Reform and Consumer Protection Act, which requires all hedge fund firms with more than $150 million in assets under management to register with the Securities & Exchange Commission (SEC), hire a chief compliance officer to create and monitor a compliance program, disclose more information about investor agreements, and submit to regular SEC inspections, among other rules. Dodd-Frank has prompted many hedge fund firms to bulk up their legal and compliance areas—and hire more lawyers and compliance professionals (many of whom have law degrees). Changes in presidential administrations and government policy may decrease or increase regulation of the industry. Regardless, lawyers will continue to play an important role with hedge fund firms and their regulatory bodies.

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