# Aifm directive

`kaal:entity:aifm-directive`

**Status.** derived

This node is assembled mechanically from the 4 claims that carry the concept tag `aifm-directive`. It is a roster of what the corpus says under this term. It is **not** an adjudicated definition: no single statement here has been ruled canonical, and no first-appearance call has been made. Read the claims and judge for yourself.

## Every claim under this term

4 claims across 1 works, 2011 to 2011.

**2011**

- [1806252-004](https://wulfkaal.github.io/claims/1806252-004) [failure/argued] *(failure mode)* -- Asymmetric hedge fund regulation, in which Dodd-Frank and the AIFM Directive regulate banks and hedge funds separately and differently, is counterproductive.
  > Asymmetric hedge fund regulation in Dodd—Frank and the AIFM Directive is counterproductive.
  Kaal, Hedge Fund Regulation Via Basel III (2011). SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1806252
- [1806252-005](https://wulfkaal.github.io/claims/1806252-005) [predictive/argued] *(failure mode)* -- The AIFM Directive could create incentives for regulatory arbitrage and could provoke retaliatory action by countries outside the European Union.
  > The AIFM Directive could create incentives for regulatory arbitrage and potentially cause retaliatory action by non-EU countries.
  Kaal, Hedge Fund Regulation Via Basel III (2011). SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1806252
- [1806252-019](https://wulfkaal.github.io/claims/1806252-019) [mechanism/argued] *(failure mode)* -- Because the AIFM Directive exposes depositaries to strict liability in certain circumstances, depositaries must weigh the risks and benefits of serving EU alternative investment funds, and a negative assessment would harm the depository business and, implicitly, hedge funds.
  > If this risk assessment turns out negative, the business of depositories and, implicitly, hedge funds could be affected.
  Kaal, Hedge Fund Regulation Via Basel III (2011). SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1806252
- [1806252-020](https://wulfkaal.github.io/claims/1806252-020) [predictive/argued] *(failure mode)* -- Discrimination against non-EU jurisdictions under the AIFM Directive could provoke retaliatory action, and retaliation combined with a lack of intra-European cooperation could damage the European financial services industry and the whole European economy.
  > Discrimination against non-EU jurisdictions could provoke retaliatory action. As a consequence, retaliatory actions and a lack of intra-European cooperation could damage the European financial services industry and the whole European economy.
  Kaal, Hedge Fund Regulation Via Basel III (2011). SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1806252

## Verify

Every claim above resolves to a record carrying a verbatim source quote, the sha256 of the source PDF, and a preformatted citation. Nothing here asks to be taken on trust.

    curl -s https://wulfkaal.github.io/entities/aifm-directive.md | sha256sum

**Canonical form.** This markdown file is the canonical hashed representation of this entity node. Its sha256 is the content hash.