Although Dodd-Frank compliance costs fall primarily on the investment adviser rather than the fund, advisers have increasingly built fund structures that pass most of those compliance expenses through to their reporting funds.
Source quote, verbatim
Although Dodd-Frank Act compliance costs predominantly affect the investment advisers of private funds rather than the funds themselves, investment advisers have increasingly created fund struc- tures that allow them to pass most of their compliance expenses through to their reporting funds.
From
Wulf A. Kaal, The Post Dodd-Frank Act Evolution of the Private Fund Industry Comparative Evidence from 2012 and 2 (2016), IV.4. Fund Earnings, p. 45 https://ssrn.com/abstract=2739479 · source PDF
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
Holds when
adviser and private fund contractual structures
between 2012 and 2015
Classification
mechanismsupport: arguedcomplianceprivate-funds
Related claims
extended_bykaal:claim:2998097-017 The industry largely absorbed the increased expenses of the Dodd-Frank Act by increasing the use of pass-throu...
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