# kaal:claim:2337268-041

**Claim.** With private enforcement foreclosed, enforcement of the IAA's prohibited transactions provision depends entirely on injunctive relief, administrative sanctions, and criminal prosecution, all of which require public actors to move.

**Type.** failure  **Support.** argued

**Holds when.**

- enforcement against violations of the prohibited transactions provision

**Source quote.**

> Accordingly, the enforcement of the IAA's prohibited transactions provision is relegated to injunctive relief, administrative sanctions, and criminal prosecution.

**From.** Wulf A. Kaal, *Investment Adviser Regulation* (2013), 9. Prohibited Practices, page 22

**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

**Failure mode.** reliance on public enforcement only  (family: enforcement-gap)

**Topics.** compliance

**Keywords.** enforcement, public-enforcement, injunctive-relief, administrative-sanctions

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