# kaal:claim:2998097-028

**Claim.** Despite the rising relevance of investment due diligence and increasing due diligence litigation, the private fund industry is largely left to its own devices to ensure adequate due diligence standards.

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

**Holds when.**

- private fund investor due diligence
- United States, since the 2008 to 2009 financial crisis

**Source quote.**

> Despite the increasing relevance of investment due diligence in the capital formation and allocation process and despite increasing litigation in the context of investment due diligence, the industry is mostly left to its own devices to ensure adequate due diligence standards apply.

**From.** Wulf A. Kaal, *Private Investment Fund Regulation - Theory and Empirical Evidence from 1998 to 2016* (2017), IV.3 Private Fund Investor Due Diligence, page 38

**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.** No applicable due diligence standards  (family: harmonization-and-standardization-failure)

**Topics.** law-and-legal-systems

**Keywords.** due-diligence, standards-gap, litigation, self-regulation

**Related claims.**

- restates: https://wulfkaal.github.io/claims/2811718-005

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