# kaal:claim:2748096-001

**Claim.** Government assessments of hedge fund systemic risk conflict directly: the OFR, FSB, and IOSCO treat private fund activities as important threats to the financial system, while the UK Financial Services Authority concluded from its first comprehensive survey of London's private fund industry that hedge funds pose no systemic risk.

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

**Holds when.**

- comparison of post-crisis U.S. and UK regulator reports

**Source quote.**

> By contrast, the Financial Services Authority (FSA) (2010) in the United Kingdom concluded in its first comprehensive survey of London's private fund industry that the hedge fund industry poses no systemic risk to the financial system.

**From.** Wulf A. Kaal, Timothy A. Krause, *Hedge Funds and Systemic Risk* (2016), INTRODUCTION, page 2

**Cite as.** Wulf A. Kaal, Timothy A. Krause, Hedge Funds and Systemic Risk (2016). SSRN: https://ssrn.com/abstract=2748096

**Verify.** sha256 of source PDF `8f30260f2c1db728b45c4f3b9b7c64358cf9d3217277bc3c63a910c32f87b508` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20and%20Krause%20-%202016%20-%20Hedge%20Funds%20and%20Systemic%20Risk.pdf

**Topics.** private-funds, systemic-risk, risk-and-incentives

**Keywords.** hedge-funds, systemic-risk, financial-regulators, regulatory-disagreement

**Related claims.**

- restates: https://wulfkaal.github.io/claims/2470008-012

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