# kaal:claim:2389423-006

**Claim.** If the administrative and compliance costs created by Title IV disproportionally affect smaller hedge fund advisers, then over time smaller fund advisers could be forced out of the market or pushed to merge with other funds.

**Type.** predictive  **Support.** argued

**Holds when.**

- conditional on the anecdotal evidence of a disproportionate effect being true

**Source quote.**

> If the administrative and compliance costs created by Title IV should disproportionally affect smaller hedge fund advisers, it is conceivable that over time smaller fund advisers could get forced out of the market or merge with other funds.

**From.** Wulf A. Kaal, *The Impact of Dodd-Frank Act Compliance Cost on the Hedge Fund Industry* (2014), page 3

**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, economics

**Keywords.** consolidation, compliance-cost, smaller-advisers, title-iv, market-exit

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