# kaal:claim:2150377-007

**Claim.** Under the Private Fund Investment Advisers Registration Act, hedge funds with more than $150 million in assets under management must register as investment advisers and disclose information about their trades and portfolios to the SEC, making assets under management the operative trigger for the regime.

**Type.** definitional  **Support.** evidenced

**Holds when.**

- advisers acting solely as advisers to private funds
- assets under management measured in the United States

**Source quote.**

> Under the PFIARA, hedge funds with more than $150 million assets under management (AUM) are required to register as investment advisers and have to disclose information about their trades and portfolios to the SEC.81

**From.** Wulf A. Kaal, *Hedge Fund Manager Registration Under the Dodd-Frank Act* (2012), B. Dodd-Frank Act Private Fund Rules

**Cite as.** Wulf A. Kaal, Hedge Fund Manager Registration Under the Dodd-Frank Act (2012). SSRN: https://ssrn.com/abstract=2150377

**Verify.** sha256 of source PDF `0b58bb409cac7674d78515f5374096f9a349de3bbd1983c990e0edc85a635a09` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20-%202012%20-%20Hedge%20Fund%20Manager%20Registration%20Under%20the%20Dodd-Frank%20Act.pdf

**Topics.** securities-law, disclosure

**Keywords.** dodd-frank-act, pfiara, registration-threshold, assets-under-management, disclosure

**Related claims.**

- restated_by: https://wulfkaal.github.io/claims/2714974-007
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- restated_by: https://wulfkaal.github.io/claims/2732915-009
- restated_by: https://wulfkaal.github.io/claims/2389423-012
- generalizes: https://wulfkaal.github.io/claims/2447306-002

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