If the FSOC relies on Form PF data that is subject to inaccuracies, because uncertain filers complete the form using estimates and assumptions, then the FSOC's own work on private funds may in turn be subject to errors.
Source quote, verbatim
If FSOC relied on Form PF data in its systemic risk assessment that is subject to inaccuracies, the paper suggested that it appeared possible that FSOC's work pertaining to private funds could in turn be subject to errors.149
From
Wulf A. Kaal, Private Investment Fund Regulation - Theory and Empirical Evidence from 1998 to 2016 (2017), IV.2 Systemic Risk, p. 36 https://ssrn.com/abstract=2998097 · source PDF
Cite as
Wulf A. Kaal, Private Investment Fund Regulation - Theory and Empirical Evidence from 1998 to 2016 (2017). SSRN: https://ssrn.com/abstract=2998097
Holds when
over 40 percent of surveyed filers disagreed with Form PF definitions or instructions
Classification
failuresupport: arguedfailure: Error propagation from filer uncertainty to regulator conclusionsfamily: data-quality-and-comparabilitysystemic-riskprivate-fundsrisk-and-incentives
Related claims
extendskaal:claim:2470008-037 If the FSOC relies on inaccurate Form PF data in its systemic risk assessment, its work on private funds may i...
supportskaal:claim:2470008-040 Fixing the identified problems with Form PF data would help optimize the FSOC's systemic risk assessment of pr...
extendskaal:claim:2470008-036 Widespread filer disagreement with Form PF definitions implies that a large share of filers are uncertain how ...
restateskaal:claim:2470008-033 Because several core Form PF questions feeding the FSOC's stage one threshold screen are themselves defective,...
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