# kaal:claim:2715083-030

**Claim.** Once a hedge fund adviser is already required to register with the SEC, the marginal regulatory burden of also running a mutual fund or retail alternative fund is small, which gives registered advisers an incentive to enter the registered fund space.

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

**Holds when.**

- hedge fund advisers already subject to mandatory SEC registration

**Source quote.**

> Hedge fund advisers who are required to register with the SEC have incentives to also manage mutual funds or set up retail alternative funds because the regulatory burden is minimally higher in comparison with preregistration legal requirements.

**From.** Kaal, *Confluence of Mutual and Private Funds* (2016), V.3 Retail Alternative Fund Growth, page 18

**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.** securities-law, compliance

**Keywords.** adviser-registration, marginal-compliance-cost, retail-alternatives, confluence

**Related claims.**

- restated_by: https://wulfkaal.github.io/claims/2998097-036

**Canonical form.** This markdown file is the canonical hashed representation of the claim. Its sha256 is the content hash used for attestation.