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 "identifier": "kaal:entity:best-practices",
 "name": "Best practices",
 "termCode": "best-practices",
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 "author": {
  "@type": "Person",
  "name": "Wulf A. Kaal",
  "identifier": "https://orcid.org/0000-0003-0757-275X"
 },
 "dateModified": "2026-07-29",
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   "value": [
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 "subjectOf": [
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/2097160-031",
   "identifier": "kaal:claim:2097160-031",
   "text": "Regulatory guidance on contingent capital design and issuance may be needed to curtail executive involvement in designing these instruments and to produce socially optimal designs.",
   "abstract": "Regulatory guidance on contingent capital designs and issuances may be needed to curtail the involvement of executives in the design of contingent convertible bonds and create socially optimal designs.200",
   "citation": "Wulf A. Kaal, Contingent Capital in Executive Compensation (2012). SSRN: https://ssrn.com/abstract=2097160",
   "datePublished": "2012",
   "claim_type": "normative",
   "confidence": "argued",
   "is_failure_mode": false,
   "scope_conditions": [
    "regulators unlikely to supply rules or best practice guidance in the near term"
   ],
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   "status": "current"
  },
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/2486570-027",
   "identifier": "kaal:claim:2486570-027",
   "text": "Generic industry advice on building an effective compliance program cannot work in practice because it is written to apply to many firms at once while no two companies are sufficiently alike for general guidance to be effective.",
   "abstract": "is necessarily mostly general because the advice is meant to apply to a multitude of companies. However, in practice, no two companies are sufficiently alike to effectively provide general guidance on compliance programs.",
   "citation": "Wulf A. Kaal, Timothy Lacine, The Effect of Deferred and Non-Prosecution Agreements on Corporate Governance Evidence from 1993-20 (2014). SSRN: https://ssrn.com/abstract=2486570",
   "datePublished": "2014",
   "claim_type": "failure",
   "confidence": "argued",
   "is_failure_mode": true,
   "scope_conditions": [],
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   "status": "current"
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  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/2811718-006",
   "identifier": "kaal:claim:2811718-006",
   "text": "The existing resources fail on both sides: industry materials describe best practices without setting out the legal requirements for private fund due diligence, and the available case law provides only marginal guidance.",
   "abstract": "Available resources describe best practices but do not sufficiently outline the legal requirements pertaining to private investment fund due diligence.19 The available case law only marginally provides relevant guidance on private fund IDD.",
   "citation": "Wulf A. Kaal, Private Fund Investor Due Diligence – Evidence from 1995 to 2015 (2016). SSRN: https://ssrn.com/abstract=2811718",
   "datePublished": "2016",
   "claim_type": "failure",
   "confidence": "argued",
   "is_failure_mode": true,
   "scope_conditions": [
    "United States",
    "resources available as of 2016"
   ],
   "source_pdf_sha256": "b52152af561288173840a1cabbcf8f4b337e73507c856ee01600799073f4156f",
   "status": "current"
  },
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/2811718-033",
   "identifier": "kaal:claim:2811718-033",
   "text": "Expert consensus in the examined litigation record converges on a set of standard due diligence practices, beginning with qualitative review of firm marketing materials, offering documents, subscription documents, and manager track records, and onsite manager meetings.",
   "abstract": "applicable standard private fund IDD industry practices, as stipulated in the examined litigation record, include: qualitative review of firm \"marketing materials, offering documents, subscription documents, manager track record[s]\"243; onsite manager meetings;",
   "citation": "Wulf A. Kaal, Private Fund Investor Due Diligence – Evidence from 1995 to 2015 (2016). SSRN: https://ssrn.com/abstract=2811718",
   "datePublished": "2016",
   "claim_type": "empirical",
   "confidence": "evidenced",
   "is_failure_mode": false,
   "scope_conditions": [
    "expert reports surveyed through Westlaw Expert Materials"
   ],
   "source_pdf_sha256": "b52152af561288173840a1cabbcf8f4b337e73507c856ee01600799073f4156f",
   "status": "current"
  },
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/3067615-039",
   "identifier": "kaal:claim:3067615-039",
   "text": "ICO disclosures should be as clear as possible: promoters should avoid an unclear or uncertain use of proceeds pie chart and should be very clear on plans for converting cryptocurrency into actual company reserves.",
   "abstract": "Moreover, the ICO disclosures have to be as clear as possible and should avoid an unclear or uncertain use of proceeds pie chart and should be very clear on cryptocurrency conversion plans into actual company reserves.",
   "citation": "Wulf A. Kaal, Marco Dell'Erba, Initial Coin Offerings Emerging Practices, Risk Factors, and Red Flags (2017). SSRN: https://ssrn.com/abstract=3067615",
   "datePublished": "2017",
   "claim_type": "design",
   "confidence": "asserted",
   "is_failure_mode": false,
   "scope_conditions": [
    "ICO issuers seeking to meet emerging good practice standards"
   ],
   "source_pdf_sha256": "164ce15b9eb1e8847ebcb073f5b23a96b4974ad0308d77469a9455d4a1ebeb38",
   "status": "current"
  }
 ],
 "description": "5 claims in the published works of Wulf A. Kaal carry the concept tag 'best-practices'. Derived node: a roster, not an adjudicated definition."
}