# kaal:claim:2811729-039

**Claim.** The SEC continues to rely on disclosure as the means of mitigating investor risk from unconstrained and other mutual funds irrespective of the complexity of those funds' portfolios and strategies.

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

**Holds when.**

- SEC disclosure policy for mutual funds as of 2016

**Source quote.**

> seems to reflect the SEC's continued reliance on disclosure as a means of mitigating the risks to investors from investing in UMFs and other mutual funds irrespective of the complexity of their portfolios and strategies,

**From.** Wulf A. Kaal, *Unconstrained Mutual Funds and Retail Investor Protection* (2016), VI. Conclusion, footnote 216, page 54

**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.** Complexity-blind disclosure policy  (family: disclosure-ineffectiveness)

**Topics.** disclosure, securities-law

**Keywords.** disclosure-regime, sec-policy, complexity, investor-protection

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