# kaal:claim:3405660-018

**Claim.** The complex trading, investing and corporate structures of active international hedge funds are a major constraint on effective prudential supervision.

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

**Holds when.**

- internationally active hedge funds with complex group structures

**Source quote.**

> One of the major constraining factors that constricts effective prudential supervision of hedge funds is the complex trading-, investing- and corporate structure of active international hedge funds.

**From.** Kaal, *Indirect Regulation of Hedge Funds* (2019), III.3 Prudential hedge fund Regulation, page 16

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

**Verify.** sha256 of source PDF `cf507b1833071765bc13a5605f38c2591582eca85f40869e38b6ff075c04d29d` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20-%202019%20-%20Indirect%20Regulation%20of%20Hedge%20Funds.pdf

**Failure mode.** structural opacity constraint  (family: supervisory-capacity-gap)

**Topics.** institutional-design

**Keywords.** prudential-regulation, fund-structure, supervision, complexity

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