# kaal:claim:2714974-035

**Claim.** SEC rules should be amended to require public companies, particularly financial institutions, to disclose their material exposure to hedge funds and other highly leveraged institutions in the MD&A or Description of Business sections, which would be consistent with existing SEC disclosure philosophy.

**Type.** design  **Support.** argued

**Holds when.**

- applies to publicly traded lenders and counterparties of hedge funds

**Source quote.**

> SEC rules could provide for such disclosures in the Management Discussion and Analysis (MD&A) or Description of Business segments of the periodic financial statements.

**From.** Kaal and Oesterle, *The History of Hedge Fund Regulation in the United States* (2016), INDIRECT HEDGE FUND REGULATION, page 27

**Cite as.** 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

**Verify.** sha256 of source PDF `7764601d3ed5bb056b58949e8411eff9dfb9855f143719062030c980c5fa801b` at 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

**Topics.** disclosure

**Keywords.** disclosure, mda, counterparty-exposure, public-companies

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