# kaal:claim:2739479-014

**Claim.** Lifting the ban on general solicitation and general advertising was a significant formal change for private funds, but the new advertising opportunities are being taken up only reluctantly, and uncertainty about investor verification rules together with specific restrictions makes advertising by private fund advisers unlikely for the foreseeable future.

**Type.** failure  **Support.** evidenced

**Holds when.**

- Rule 506(c) offerings after the September 2013 effective date
- private fund and private equity advisers

**Source quote.**

> While lifting the ban on GSGA for private fund advisers represented a signif- icant change for the private fund industry, the new advertising opportunities are only reluctantly being accepted;

**From.** Wulf A. Kaal, *The Post Dodd-Frank Act Evolution of the Private Fund Industry Comparative Evidence from 2012 and 2* (2016), II.2.a) Rule Changes, page 22

**Cite as.** Wulf A. Kaal, The Post Dodd-Frank Act Evolution of the Private Fund Industry Comparative Evidence from 2012 and 2 (2016). SSRN: https://ssrn.com/abstract=2739479

**Verify.** sha256 of source PDF `b2e7b81a16ab01c73478b62e85068f9dadc5cdd18427241e8bc5e8216a967730` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20-%202016%20-%20The%20Post%20Dodd-Frank%20Act%20Evolution%20of%20the%20Private%20Fund%20Industry%20Comparative%20Evidence%20from%202012%20and%202.pdf

**Failure mode.** Unused deregulatory option  (family: incumbent-resistance-to-adoption)

**Topics.** citation-and-knowledge

**Keywords.** jobs-act, general-solicitation, rule-506c, investor-verification, deregulation

**Related claims.**

- restates: https://wulfkaal.github.io/claims/2715083-033
- extends: https://wulfkaal.github.io/claims/2714974-018
- extends: https://wulfkaal.github.io/claims/2714974-019

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