# kaal:claim:2150377-039

**Claim.** 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.

**Type.** mechanism  **Support.** speculative

**Holds when.**

- anecdotal evidence, the level of sanitizing cannot be verified

**Source quote.**

> 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.

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

**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.** disclosure-sanitization  (family: disclosure-ineffectiveness)

**Topics.** private-funds, disclosure, compliance, risk-and-incentives, systemic-risk

**Keywords.** form-adv, form-pf, disclosure-quality, compliance-behavior, systemic-risk

**Related claims.**

- extended_by: https://wulfkaal.github.io/claims/2998097-014
- extended_by: https://wulfkaal.github.io/claims/2348463-022
- supported_by: https://wulfkaal.github.io/claims/2348463-007

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