College of Law > Faculty & Staff > Faculty A-Z > Cary Martin Shelby

Cary Martin Shelby

  • Associate Professor of Law
  • Full-time
  • (312) 362-6799
  • ​828 O'Malley Place
Cary Martin Shelby is an associate professor of law at DePaul University College of Law. She teaches Business Organizations, Securities Regulation and a seminar on Investment Company Regulation. She also serves as DePaul’s faculty advisor for the Black Law Students Association (BLSA) and received the BLSA Outstanding Faculty Member Award during her first year of teaching. In May 2016, Professor Shelby was also awarded the DePaul University College of Law Excellence in Teaching Award. In terms of her educational background, she received her Bachelor of Science in finance from the University of Illinois at Urbana-Champaign and her Juris Doctor from Northwestern University School of Law. Immediately following law school, Professor Shelby was an attorney in the Investment Funds, Advisers and Derivatives Group with Sidley Austin LLP for close to four years. As an associate in this group, she advised and represented clients in regulatory and corporate matters involving hedge funds, commodity pools and derivatives trading. After leaving Sidley, Professor Shelby served as the William H. Hastie Fellow at the University of Wisconsin Law School, which is a competitive two-year fellowship designed to prepare its candidates for a career in law teaching. Her research encompasses regulatory issues related to hedge funds and other investment company vehicles. She has published articles in the Boston College Law Review (forthcoming), Washington & Lee Law Review (forthcoming and co-author with Steven Ramirez and Kristin Johnson), the Southern Methodist University Law Review, and a number of other journals.


BS, University of Illinois Urbana-Champaign; JD, Northwestern University

Courses Taught

  • Business Organizations
  • Investment Company Regulation
  • Securities Regulation

Selected Works

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2017 Closing the Hedge Fund Loophole: The SEC as the Primary Regulator of Systemic Risk, 58 B. C. L. REV. __ (forthcoming, 2017). string;#Click Here
2016 Are Hedge Funds Still Private? Exploring Publicness in the Face of Incoherency, 69 SMU L. Rev. 405 (2016). string;#Click Here
2016 Diversifying to Mitigate Risk: Can Dodd-Frank Section 342 Help Stabilize the Financial Sector? co-authored piece with Steven Ramirez and Kristin Johnson, 73 Wash. & Lee L. Rev. __ (forthcoming, 2016). string;#
2015 Privileged Access to Financial Innovation, 47 Loy. U. Chi. L. J. 315 (2015). string;#Click Here
2014 One Step Forward for Hedge Fund Investors: The Removal of the Solicitation Ban and the Challenges that Lie Ahead, 16 U. Pa. J. Bus. L. 1143 (2014). string;#Click Here
2012 Is Systemic Risk Prevention the New Paradigm? A Proposal to Expand Investor Protection Principles to the Hedge Fund Industry, 86 St. John's L. Rev. 87 (2012) string;#Click Here
2012 Private Investment Companies in the Wake of the Financial Crisis: Rethinking the Effectiveness of the Sophisticated Investor Exemption, 37 Del. J. Corp. L. 49 (2012) string;#Click Here
2009 Homeless Education: Unveiling the Truth Behind Beating the Odds, Symposium Issue: Separate and Unequal? The Socio-Economic Realities of Public Education in America, 14 PUB. INT. L. REP. 294 (2009), reprinted in, YUDOF, LEVIN, MORAN AND RYAN, EDUCATIONAL POLICY AND THE LAW (5th ed. 2012). string;#Click Here