kaal:claim:2447306-013

Form PF compliance cost is sharply size dependent: quarterly filing large funds spent on average $155,286 on the initial filing, roughly sixteen times the $9,520 average reported by annually filing smaller funds.

Quarterly filing large funds spent on average $155,286 for the initial filing of Form PF. By contrast, annually filing smaller funds only spend on average $9,520 for the first time filing of Form PF.

Wulf A. Kaal, Private Fund Disclosures Under the Dodd-Frank Act (2014), V. Results, 1. Form PF Compliance Cost, p. 19
https://ssrn.com/abstract=2447306 · source PDF

Wulf A. Kaal, Private Fund Disclosures Under the Dodd-Frank Act (2014). SSRN: https://ssrn.com/abstract=2447306

• initial Form PF filing
• small sample of large quarterly filers

empiricalsupport: evidencedcomplianceprivate-fundsempirical-evidence

• restated_by kaal:claim:2714974-011 Larger hedge fund advisers, which must file Form PF quarterly rather than annually, faced substantially higher...

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