kaal:claim:2150377-039

Mandatory reporting does not guarantee informative reporting: anecdotal evidence indicates that advisers can present the information required in Forms ADV and PF in ways that in effect flatten out and sanitize the disclosures.

Anecdotal evidence suggests that the information disclosed by hedge fund advisers in the required Forms ADV and PF can be presented in ways that in effect "flatten out" and "sanitize" the disclosures.

Wulf A. Kaal, Hedge Fund Manager Registration Under the Dodd-Frank Act (2012), B. Private Fund Policy and Future Research
https://ssrn.com/abstract=2150377 · source PDF

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

• anecdotal evidence, the level of sanitizing cannot be verified

mechanismsupport: speculativefailure: disclosure-sanitizationfamily: disclosure-ineffectivenessprivate-fundsdisclosurecompliancerisk-and-incentivessystemic-risk

• extended_by kaal:claim:2998097-014 Because advisers and third party service providers can flatten out and sanitize the information disclosed in F...
• extended_by kaal:claim:2348463-022 Form PF disclosures have not been standardized, and anecdotal evidence indicates that the SEC and the FSOC may...
• supported_by kaal:claim:2348463-007 The SEC has not standardized the disclosures required in Form PF, and there is evidence that Form PF requireme...

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