kaal:claim:1806252-016

Even if hedge fund investing does have systemic implications, systemic risk is multifaceted enough that addressing it could require more than one regulator in a single jurisdiction, so the SEC alone may be unable to accomplish the task.

Even assuming that systemic implications arise from hedge fund investing, systemic risk is such a multifaceted issue that it could require the involvement of more than one regulator in one jurisdiction.

Kaal, Hedge Fund Regulation Via Basel III (2011), III.2.c.2 SEC's Rulemaking Authority, p. 41
https://ssrn.com/abstract=1806252 · source PDF

Kaal, Hedge Fund Regulation Via Basel III (2011). SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1806252

• systemic risk is difficult to measure and the required information is widely dispersed

conditionsupport: arguedsystemic-riskrisk-and-incentivesinstitutional-designsecurities-law

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• Qualification: How Would Hedge Fund Regulation Affect Investor Behavior? Implications for Systemic Risk ∗