kaal:claim:2811718-003

Before the financial crisis of 2008 to 2009, the standard AIMA and MFA due diligence questionnaire templates were often deployed defensively: managers used the old versions to steer investors away from questions that would have exposed weaknesses in the managers' controls.

The old versions of those questionnaires were often used in an attempt to avoid investors' questions challenging the manager on possible weaknesses in their controls.

Wulf A. Kaal, Private Fund Investor Due Diligence – Evidence from 1995 to 2015 (2016), I. Introduction, p. 7
https://ssrn.com/abstract=2811718 · source PDF

Wulf A. Kaal, Private Fund Investor Due Diligence – Evidence from 1995 to 2015 (2016). SSRN: https://ssrn.com/abstract=2811718

• pre financial crisis practice
• template based questionnaires edited by the manager

failuresupport: arguedfailure: questionnaire template gamingfamily: disclosure-ineffectivenessregulatory-failuredisclosure

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