# kaal:claim:2348463-019

**Claim.** Under both the bankruptcy and the systemic risk disclosure regimes, filed data carries a serious risk of being out of date and less accurate at the time it is analyzed than when it was disclosed, partly because of the lag needed to collect data before filing.

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

**Holds when.**

- any analysis of data filed under Revised Rule 2019 or Form PF

**Source quote.**

> It is important to note that for purposes of any analysis of filed data under either disclosure system, there is a serious risk that data may be out of date and less accurate when analysed than at the time when it was disclosed.

**From.** Wulf A. Kaal, *Hedge Funds’ Systemic Risk Disclosures in Bankruptcy* (2013), III. SYSTEMIC RISK AND BANKRUPTCY DISCLOSURE COMMONALITIES, page 26

**Cite as.** Wulf A. Kaal, Hedge Funds’ Systemic Risk Disclosures in Bankruptcy (2013). SSRN: https://ssrn.com/abstract=2348463

**Verify.** sha256 of source PDF `b3682f24c0b277b3307fb9f54cd17a4e0a87b48eecba34b40e189212f20c9a22` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20-%202013%20-%20Hedge%20Funds%E2%80%99%20Systemic%20Risk%20Disclosures%20in%20Bankruptcy.pdf

**Failure mode.** stale filed disclosure data  (family: data-quality-and-comparability)

**Topics.** private-funds, systemic-risk, disclosure

**Keywords.** data-staleness, form-pf, bankruptcy-rule-2019, disclosure-quality

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