# kaal:claim:3405660-038

**Claim.** Under an indirect approach hedge funds can remain exempt from disclosure and transparency requirements because only the financial intermediaries are required to reveal the relevant information, which is why the approach reconciles secrecy with reduced information asymmetry.

**Type.** design  **Support.** argued

**Source quote.**

> At the same time, under an indirect regulatory approach, hedge funds can remain exempt from disclosure and transparency requirements. Only financial intermediaries are required to unveil that information.

**From.** Kaal, *Indirect Regulation of Hedge Funds* (2019), V. Conclusion, page 27

**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

**Topics.** disclosure

**Keywords.** disclosure, indirect-regulation, financial-intermediaries, information-asymmetry

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