# kaal:claim:2150377-033

**Claim.** Respondents identified the creation of barriers to entry as an industry level effect of the registration and disclosure requirements, because the rules make the market environment for private funds less attractive to new entrants.

**Type.** failure  **Support.** evidenced

**Holds when.**

- respondent projections for the private fund industry over five years
- survey Question 5 response clusters

**Source quote.**

> Another response cluster that merits mentioning is the creation of barriers to entry for other funds because of a less attractive market environment for private funds as a result of the registration and disclosure requirements.

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

**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.** registration-raises-barriers-to-entry  (family: compliance-cost-and-barrier-to-entry)

**Topics.** risk-and-incentives, private-funds, empirical-evidence, compliance

**Keywords.** barriers-to-entry, private-fund-industry, consolidation, survey-results, compliance-cost

**Related claims.**

- extended_by: https://wulfkaal.github.io/claims/2732915-037
- extended_by: https://wulfkaal.github.io/claims/2714974-040
- contested_by: https://wulfkaal.github.io/claims/2389423-010
- supported_by: https://wulfkaal.github.io/claims/2739479-040
- supported_by: https://wulfkaal.github.io/claims/2998097-015
- extended_by: https://wulfkaal.github.io/claims/2389423-007
- restated_by: https://wulfkaal.github.io/claims/2732915-038

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