Will Industry Deregulation Affect the Value of Legal and Compliance Staff? An Interview With David Claypoole on In-House Compensation at Fund Managers (Part Two of Two)

Following the enactment of the Dodd-Frank Act, the market for in-house general counsels (GCs), chief compliance officers (CCOs) and junior legal and compliance personnel at fund managers bloomed. As the Trump administration has pledged to roll back Dodd-Frank, many wonder whether the opposite effect will be seen and whether the market for – and compensation of – in-house legal and compliance staff will decrease. In a recent interview with the Hedge Fund Law Report, David Claypoole, founder and president of Parks Legal Placement, shared detailed insight into the overall in-house legal and compliance market, based on more than a decade of compensation data. In this article, the second in a two-part series, Claypoole shares his thoughts on anticipated changes to the legal and compliance landscape under the new Trump administration, including a possible repeal of the Dodd-Frank Act; the movement of in-house staff from hedge funds to other industries or practices; and characteristics of successful in-house personnel. In the first article, Claypoole discussed how recent hedge fund performance may affect GC and CCO compensation; trends he has identified in legal and compliance compensation; the drivers of compensation for top legal and compliance personnel; and the backgrounds of candidates vying for these positions. In April, Claypoole will present on trends in legal and compliance compensation at GAIM Ops Cayman 2017. For more information on the conference, click here. To register, taking advantage of the HFLR’s promotional discount of 10 percent off the conference price (plus an additional $700 savings before February 17, 2017), click the link available in this article. For more on ways the Trump administration may affect the industry, see “How the Trump Administration’s Core Principles for Financial Regulation May Benefit the U.S. Funds Industry (Part One of Two)” (Feb. 16, 2017). For more on compensation, see also “Hedge Fund Manager Compensation Survey Looks at 2014 Compensation Levels, Job Satisfaction and Hiring Trends” (Jan. 22, 2015); and “Report Reveals Trends in Compensation of Investment Professionals at Buy-Side Firms” (Dec. 19, 2013).

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