Accuracy and consistency problems in the SEC's private fund data collection can impair the FSOC's ability to evaluate the systemic risk posed by private fund advisers.
Source quote, verbatim
Evidence that the SEC's data collection encounters accuracy and consistency problems might hamper the FSOC's ability to evaluate the systemic risk of private fund advisers.
Wulf A. Kaal, The Systemic Risk of Private Funds after the Dodd-Frank Act (2014). SSRN: https://ssrn.com/abstract=2470008
Holds when
data collected through Form PF
FSOC evaluation of nonbank systemic risk
Classification
failuresupport: arguedfailure: Upstream data error propagates to risk assessmentfamily: data-quality-and-comparabilitysystemic-riskrisk-and-incentivesprivate-fundsdynamic-regulation
Related claims
restated_bykaal:claim:2998097-021 The SEC's private fund data collection encountered accuracy and consistency problems that hampered the FSOC's ...
extendskaal:claim:2150377-040 If advisers sanitize their Form ADV and Form PF filings, the disclosures become less useful for FSOC and SEC e...
restateskaal:claim:2348463-022 Form PF disclosures have not been standardized, and anecdotal evidence indicates that the SEC and the FSOC may...
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