# kaal:claim:2732915-008

**Claim.** After the D.C. Circuit vacated the SEC's 2004 hedge fund adviser registration rule in Goldstein v. SEC, the overwhelming majority of private fund advisers who had registered under that rule deregistered.

**Type.** empirical  **Support.** evidenced

**Holds when.**

- private fund advisers registered under the SEC 2004 rule
- after the 2006 Goldstein decision

**Source quote.**

> The overwhelming majority of private fund advisers that had registered under the SEC's 2004 registration requirements deregistered after the Goldstein decision.

**From.** Wulf A. Kaal, *The Private Fund Industry Five Years after the Dodd-Frank Act – A Survey Study* (2016), II. Dodd-Frank Act Reform of the Private Fund Industry, page 8

**Cite as.** Wulf A. Kaal, The Private Fund Industry Five Years after the Dodd-Frank Act – A Survey Study (2016). SSRN: https://ssrn.com/abstract=2732915

**Verify.** sha256 of source PDF `643658c02f6625bca35595696116d0ad74d681ed8579c644832ae4a88b2a8c14` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20-%202016%20-%20The%20Private%20Fund%20Industry%20Five%20Years%20after%20the%20Dodd-Frank%20Act%20%E2%80%93%20A%20Survey%20Study.pdf

**Failure mode.** Judicial invalidation unwinds registration  (family: enforcement-gap)

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

**Keywords.** goldstein-v-sec, adviser-registration, deregistration, sec-rulemaking

**Related claims.**

- restated_by: https://wulfkaal.github.io/claims/2739479-002
- extends: https://wulfkaal.github.io/claims/2714974-006
- extends: https://wulfkaal.github.io/claims/2150377-006
- restates: https://wulfkaal.github.io/claims/2150377-002
- extended_by: https://wulfkaal.github.io/claims/2998097-002

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