# kaal:claim:2715083-004

**Claim.** Lifting the advertising ban for hedge fund advisers under the JOBS Act, combined with FSOC treating mutual and hedge funds alike for SIFI designation, effectively assimilated the advertising requirements applicable to the two asset classes.

**Type.** mechanism  **Support.** argued

**Holds when.**

- Rule 506(c) offerings after September 2013
- FSOC nonbank SIFI designation process

**Source quote.**

> Similarly, the removal of advertising restrictions for hedge fund advisers under the JOBS Act and the equal treatment of mutual and hedge funds for FSOC's SIFI designation in effect assimilated the advertising requirements of mutual and hedge funds.

**From.** Kaal, *Confluence of Mutual and Private Funds* (2016), IV.2 Regulation, page 13

**Cite as.** Kaal, Confluence of Mutual and Private Funds (2016). SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2715083

**Verify.** sha256 of source PDF `b5c92186260d4a8499a14f81ee24ace093b24e7740af3effcd1c526fa4fa221e` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20-%202016%20-%20Confluence%20of%20Mutual%20and%20Private%20Funds.pdf

**Topics.** systemic-risk

**Keywords.** jobs-act, advertising, sifi, fsoc, regulatory-convergence

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