kaal:claim:2739479-034

Passing compliance costs through to reporting funds applies those costs against the funds' trading revenues, which produces an overall adverse impact on fund earnings and so shifts the burden of regulation onto investors.

These pass-through costs are applied to the funds' trading rev- enues, which results in an overall adverse impact on the funds' earnings.

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

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

• funds subject to adviser expense pass-through terms

failuresupport: arguedfailure: Compliance cost pass-through to investorsfamily: compliance-cost-and-barrier-to-entrycomplianceprivate-funds

• extends kaal:claim:2732915-034 Among the minority of respondents who believed Dodd-Frank affected fund earnings, the majority attributed that...

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