# kaal:claim:2998097-027

**Claim.** The threat of public disclosure of systemic risk filings through the bankruptcy process only marginally affected hedge funds' tactics and their role in distressed investing, because disclosure obligations under the Dodd-Frank Act remained generic and unstandardized.

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

**Holds when.**

- at the time of the study
- before the SEC standardized systemic risk disclosure requirements

**Source quote.**

> The paper highlighted that the threat of public disclosure of systemic risk filings by hedge funds via the bankruptcy process only marginally affected hedge funds' tactics and their role in distressed investing.154 Hedge funds' disclosure obligations under

**From.** Wulf A. Kaal, *Private Investment Fund Regulation - Theory and Empirical Evidence from 1998 to 2016* (2017), IV.2 Systemic Risk, page 37

**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

**Failure mode.** Generic disclosure rules blunt the discipline effect  (family: disclosure-ineffectiveness)

**Topics.** disclosure, private-funds

**Keywords.** disclosure-threat, distressed-debt, regulatory-standardization, hedge-funds

**Related claims.**

- extends: https://wulfkaal.github.io/claims/2348463-002
- supersedes: https://wulfkaal.github.io/claims/2348463-006
- supersedes: https://wulfkaal.github.io/claims/2348463-039

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