kaal:claim:3405660-014

Additional direct limitations on hedge funds spill over onto other private investment pools such as venture capital funds and structured financings, which do not present the same systemic risk concerns.

The imposition of additional limitations on hedge funds can impose unwarranted burdens on other types of private investment pools, such as venture capital funds and structured financings that do not raise the same concerns as hedge funds in terms of systemic risk.

Kaal, Indirect Regulation of Hedge Funds (2019), III.1 National Direct Regulation, p. 14
https://ssrn.com/abstract=3405660 · source PDF

Kaal, Indirect Regulation of Hedge Funds (2019). SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3405660

• rules drafted broadly enough to capture private investment pools generally

failuresupport: arguedfailure: overbreadth spilloverfamily: compliance-cost-and-barrier-to-entryinnovationsystemic-riskrisk-and-incentives

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