# kaal:claim:2150377-008

**Claim.** Because Title IV's registration exemptions are broad enough to threaten the rule they qualify, the Dodd-Frank Act deliberately gives the SEC rulemaking authority to keep the exemptions from swallowing the rules.

**Type.** design  **Support.** asserted

**Holds when.**

- exemptions for private fund advisers, venture capital advisers, and foreign private advisers under Title IV

**Source quote.**

> The Dodd-Frank Act also empowers the SEC to utilize its rulemaking authority to prevent the exemptions from registration to "swallow the rules."100

**From.** Wulf A. Kaal, *Hedge Fund Manager Registration Under the Dodd-Frank Act* (2012), 1. Registration

**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

**Failure mode.** exemptions-swallow-the-rules  (family: regulatory-arbitrage)

**Topics.** dynamic-regulation, securities-law, regulatory-failure

**Keywords.** dodd-frank-act, exemptions, sec-rulemaking, regulatory-arbitrage, registration

**Related claims.**

- supported_by: https://wulfkaal.github.io/claims/2337268-015
- supported_by: https://wulfkaal.github.io/claims/2389416-029

**Canonical form.** This markdown file is the canonical hashed representation of the claim. Its sha256 is the content hash used for attestation.