# kaal:claim:2811729-001

**Claim.** The proliferation of unconstrained mutual funds calls into question whether the retail investor protections built into the Investment Company Act of 1940 remain effective.

**Type.** failure  **Support.** argued

**Holds when.**

- U.S. registered open-end investment companies
- unconstrained credit strategies sold to retail investors

**Source quote.**

> The proliferation of unconstrained mutual funds calls into question the effectiveness of retail investor protections under the Investment Company Act of 1940.

**From.** Wulf A. Kaal, *Unconstrained Mutual Funds and Retail Investor Protection* (2016), Abstract, page 2

**Cite as.** Wulf A. Kaal, Unconstrained Mutual Funds and Retail Investor Protection (2016). SSRN: https://ssrn.com/abstract=2811729

**Verify.** sha256 of source PDF `0877b0a076f2614559cb0b1a736f73401cecbee7cfe014da6e36709208e92a74` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20and%20Anderson%20-%202016%20-%20Unconstrained%20Mutual%20Funds%20and%20Retail%20Investor%20Protection.pdf

**Failure mode.** Disclosure regime outpaced by product complexity  (family: disclosure-ineffectiveness)

**Topics.** private-funds

**Keywords.** unconstrained-mutual-funds, investor-protection, investment-company-act, mutual-fund-regulation

**Related claims.**

- extended_by: https://wulfkaal.github.io/claims/2998097-038

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