Dodd-Frank 10 years later and its impact on private funds (Law360)

It’s been a decade since the Dodd-Frank Act unveiled numerous new compliance obligations for private fund advisers, including many hedge funds and private equity firms. When the media sought out a compliance consultant’s perspective to discuss its impact, they turned to FrontLine’s Founder and President Amy Lynch. On Dodd-Frank’s initial challenges for private funds, she discusses the onerous task of building out a compliance program and the investment that came with that: appointing a CCO, implementing compliance systems and preparation for an eventual SEC exam. Ms Lynch also comments that these firms had to determine how to apply the Investment Advisers Act regulations to their own business model, which was not straightforward by any means. She adds that immense progress has been made in a relatively short period of time, as private funds have learned to operate within a highly regulated environment. See Law360 (subscription required), “Dodd-Frank Marked New Era For Private Equity, Hedge Funds“