# kaal:claim:2389423-001

**Claim.** This study finds no evidence of an inverse relationship between the size of regulated hedge fund advisers and the per-unit cost of compliance, contrary to the common complaint that financial regulation brings increasing returns to scale.

**Type.** empirical  **Support.** evidenced

**Holds when.**

- survey data collected after the March 2012 registration effective date for hedge fund advisers under Title IV
- hedge fund advisers, not banks

**Source quote.**

> The author finds no evidence of an inverse relationship between the size of regulated hedge fund advisers and the per-unit cost of compliance.

**From.** Wulf A. Kaal, *The Impact of Dodd-Frank Act Compliance Cost on the Hedge Fund Industry* (2014), ABSTRACT, page 1

**Cite as.** Wulf A. Kaal, The Impact of Dodd-Frank Act Compliance Cost on the Hedge Fund Industry (2014). SSRN: https://ssrn.com/abstract=2389423

**Verify.** sha256 of source PDF `6b95323abbaffd00a012589531859f2938ab8b372d0243171059ff82e55a0838` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20-%202014%20-%20The%20Impact%20of%20Dodd-Frank%20Act%20Compliance%20Cost%20on%20the%20Hedge%20Fund%20Industry.pdf

**Topics.** compliance, private-funds

**Keywords.** dodd-frank, title-iv, compliance-cost, hedge-funds, returns-to-scale

**Related claims.**

- contested_by: https://wulfkaal.github.io/claims/2714974-013

**Canonical form.** This markdown file is the canonical hashed representation of the claim. Its sha256 is the content hash used for attestation.