kaal:claim:2739479-021

The share of advisers reporting that they changed their communications with investors nearly doubled from 25 percent in 2012 to 47 percent in 2015, a shift the author attributes to advisers increasing investor communications on advice of counsel.

a substantially higher rate of responses (47% in 2015 versus 25% in 2012) suggests that respondents changed their communications with investors. Since 2012, many private fund advisers have changed and increased their communications with in- vestors, often based on advice from counsel.

Wulf A. Kaal, The Post Dodd-Frank Act Evolution of the Private Fund Industry Comparative Evidence from 2012 and 2 (2016), IV.1. Adviser Response to Dodd-Frank, p. 33
https://ssrn.com/abstract=2739479 · source PDF

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

• survey respondents in 2012 and 2015

empiricalsupport: evidencedcomplianceempirical-evidenceprivate-funds

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