{
 "@context": "https://schema.org",
 "@type": "Claim",
 "@id": "https://wulfkaal.github.io/claims/2714974-004",
 "identifier": "kaal:claim:2714974-004",
 "text": "Expanding the client counting safe harbor in 1997 to cover legal entities generally allowed investment advisers to manage large amounts of securities indirectly for several hundred investors across multiple hedge funds without registering.",
 "author": {
  "@type": "Person",
  "name": "Wulf A. Kaal",
  "identifier": "https://orcid.org/0009-0008-7840-1847"
 },
 "citation": "Kaal and Oesterle, The History of Hedge Fund Regulation in the United States (2016). SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2714974",
 "isBasedOn": {
  "@type": "ScholarlyArticle",
  "name": "The History of Hedge Fund Regulation in the United States",
  "datePublished": "2016",
  "url": "https://ssrn.com/abstract=2714974",
  "sha256": "7764601d3ed5bb056b58949e8411eff9dfb9855f143719062030c980c5fa801b",
  "encoding": "https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20and%20Oesterle%20-%202016%20-%20The%20History%20of%20Hedge%20Fund%20Regulation%20in%20the%20United%20States.pdf"
 },
 "keywords": [
  "securities-law",
  "private-funds"
 ],
 "about": [
  "safe-harbor",
  "registration-exemption",
  "investment-advisers-act",
  "hedge-funds"
 ],
 "abstract": "This safe harbor allowed investment advisers to manage large amounts of securities indirectly for several hundreds of investors in several hedge funds.",
 "additionalProperty": [
  {
   "@type": "PropertyValue",
   "name": "claim_type",
   "value": "mechanism"
  },
  {
   "@type": "PropertyValue",
   "name": "confidence",
   "value": "asserted"
  },
  {
   "@type": "PropertyValue",
   "name": "scope_conditions",
   "value": [
    "requires that advice be based on the objectives of the legal organization rather than of its individual owners"
   ]
  },
  {
   "@type": "PropertyValue",
   "name": "is_failure_mode",
   "value": false
  },
  {
   "@type": "PropertyValue",
   "name": "attestations",
   "value": "https://wulfkaal.github.io/colloquium/attestations/5aaee137b7d09c7085a04028a51aad877200ec5d18d231854c580a3109810a62.json"
  },
  {
   "@type": "PropertyValue",
   "name": "edges",
   "value": [
    {
     "rel": "extended_by",
     "to": "https://wulfkaal.github.io/claims/2998097-001",
     "to_id": "kaal:claim:2998097-001",
     "similarity": 0.63
    }
   ]
  }
 ],
 "isPartOf": {
  "@id": "https://wulfkaal.github.io/claims/index.json"
 },
 "dateModified": "2026-07-27",
 "version": "1.0",
 "sha256": "5aaee137b7d09c7085a04028a51aad877200ec5d18d231854c580a3109810a62",
 "canonicalForm": "https://wulfkaal.github.io/claims/2714974-004.md"
}