# kaal:claim:2337268-010

**Claim.** Title IV and the SEC forms use assets under management as a proxy for systemic threat, so that disclosure obligations scale upward with the size of the hedge fund adviser.

**Type.** design  **Support.** argued

**Holds when.**

- hedge fund advisers categorized by AUM under Title IV

**Source quote.**

> forms suggest that the larger the hedge fund advisers, as measured by their assets under management (AUM), the higher the possible systemic threat the respective fund poses. Accordingly, the disclosure requirements increase with the AUM size of hedge fund advisers.

**From.** Wulf A. Kaal, *Investment Adviser Regulation* (2013), 2. Adviser Categories, page 7

**Cite as.** Wulf A. Kaal, Investment Adviser Regulation (2013). SSRN: https://ssrn.com/abstract=2337268

**Verify.** sha256 of source PDF `7075ce35282a8ee75b81ae3dec0e19f68631beae7f3c3a00ab2827538dc9e302` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20-%202013%20-%20Investment%20Adviser%20Regulation.pdf

**Topics.** systemic-risk, risk-and-incentives, disclosure

**Keywords.** assets-under-management, systemic-risk-proxy, disclosure-scaling, dodd-frank-title-iv

**Related claims.**

- restated_by: https://wulfkaal.github.io/claims/2389423-012
- generalizes: https://wulfkaal.github.io/claims/2714974-007
- extended_by: https://wulfkaal.github.io/claims/2389423-008

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