# kaal:claim:2715083-034

**Claim.** Confluence is not one directional: the SEC may counteract some confluence drivers, for instance by curtailing derivative trading and short selling used by retail alternative mutual funds to mimic hedge funds.

**Type.** predictive  **Support.** argued

**Holds when.**

- SEC rulemaking and enforcement posture as of 2016

**Source quote.**

> Despite the regulatory trends and investor preference trends favoring increasing confluence of mutual and hedge funds, the SEC might counteract some of the confluence drivers.

**From.** Kaal, *Confluence of Mutual and Private Funds* (2016), V.3 Retail Alternative Fund Growth, page 19

**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.** dynamic-regulation, securities-law

**Keywords.** sec-rulemaking, derivatives, short-selling, countervailing-forces

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