# kaal:claim:2998097-010

**Claim.** Investor suitability standards requiring independent verification of an investor's ability to evaluate complex financial products and investment risk would make wealth redundant as a proxy for sophistication in determining investor eligibility.

**Type.** design  **Support.** argued

**Holds when.**

- private investment fund investor eligibility
- proposed in 2009, before Title IV

**Source quote.**

> Such proposed investor suitability standards would require independent verification of investors' ability to evaluate highly complex financial products and investment risk, rendering wealth as a proxy for sophistication redundant for investor eligibility.54

**From.** Wulf A. Kaal, *Private Investment Fund Regulation - Theory and Empirical Evidence from 1998 to 2016* (2017), III.2 Indirect Regulation, page 15

**Cite as.** Wulf A. Kaal, Private Investment Fund Regulation - Theory and Empirical Evidence from 1998 to 2016 (2017). SSRN: https://ssrn.com/abstract=2998097

**Verify.** sha256 of source PDF `0955054f49c7011d33c285579bb046e6b284e42755b10fd2546a728c202669d5` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20-%202017%20-%20Private%20Investment%20Fund%20Regulation%20-%20Theory%20and%20Empirical%20Evidence%20from%201998%20to%202016.pdf

**Topics.** institutional-design

**Keywords.** investor-suitability, accredited-investor, wealth-proxy, investor-protection

**Related claims.**

- extends: https://wulfkaal.github.io/claims/1806252-032
- extends: https://wulfkaal.github.io/claims/1428387-030
- extends: https://wulfkaal.github.io/claims/1428387-028

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