# kaal:claim:2389423-033

**Claim.** Financial regulation has disparate effects on private fund advisers in comparison with other financial services providers, so evidence of scale economies in compliance drawn from banking does not transfer to private funds.

**Type.** empirical  **Support.** argued

**Holds when.**

- comparison of the private fund industry with banking and other financial services providers

**Source quote.**

> Financial regulation has disparate effects on private fund advisers in comparison with other financial services providers.

**From.** Wulf A. Kaal, *The Impact of Dodd-Frank Act Compliance Cost on the Hedge Fund Industry* (2014), Results, page 20

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

**Keywords.** financial-regulation, private-funds, banking, returns-to-scale, sector-differences

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