# kaal:claim:2470008-022

**Claim.** The SEC itself reports that the consistency of investment advisers' responses on Form PF is not ensured and may be questionable.

**Type.** failure  **Support.** evidenced

**Holds when.**

- Form PF filings as analyzed by SEC staff

**Source quote.**

> The analysis of the data collected in Form PF presents several key challenges. The SEC suggests that the consistency of investment adviser's responses on Form PF is not ensured and could be questionable.

**From.** Wulf A. Kaal, *The Systemic Risk of Private Funds after the Dodd-Frank Act* (2014), 1. Sub-optimality of Systemic Risk Data

**Cite as.** Wulf A. Kaal, The Systemic Risk of Private Funds after the Dodd-Frank Act (2014). SSRN: https://ssrn.com/abstract=2470008

**Verify.** sha256 of source PDF `5f68a401c935527d89658171e9b48a4d186710459aaf2bdbead755507394e8c9` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20-%202014%20-%20The%20Systemic%20Risk%20of%20Private%20Funds%20after%20the%20Dodd-Frank%20Act.pdf

**Failure mode.** Inconsistent adviser responses  (family: data-quality-and-comparability)

**Topics.** private-funds, securities-law, disclosure

**Keywords.** form-pf, data-quality, sec, inconsistency, disclosure

**Related claims.**

- supports: https://wulfkaal.github.io/claims/2447306-004
- supports: https://wulfkaal.github.io/claims/2348463-007

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