# Best practices

`kaal:entity:best-practices`

**Status.** derived

This node is assembled mechanically from the 5 claims that carry the concept tag `best-practices`. 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

5 claims across 4 works, 2012 to 2017.

**2012**

- [2097160-031](https://wulfkaal.github.io/claims/2097160-031) [normative/argued] -- 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.
  > 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
  Wulf A. Kaal, Contingent Capital in Executive Compensation (2012). SSRN: https://ssrn.com/abstract=2097160

**2014**

- [2486570-027](https://wulfkaal.github.io/claims/2486570-027) [failure/argued] *(failure mode)* -- 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.
  > 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.
  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

**2016**

- [2811718-006](https://wulfkaal.github.io/claims/2811718-006) [failure/argued] *(failure mode)* -- 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.
  > 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.
  Wulf A. Kaal, Private Fund Investor Due Diligence – Evidence from 1995 to 2015 (2016). SSRN: https://ssrn.com/abstract=2811718
- [2811718-033](https://wulfkaal.github.io/claims/2811718-033) [empirical/evidenced] -- 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.
  > 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;
  Wulf A. Kaal, Private Fund Investor Due Diligence – Evidence from 1995 to 2015 (2016). SSRN: https://ssrn.com/abstract=2811718

**2017**

- [3067615-039](https://wulfkaal.github.io/claims/3067615-039) [design/asserted] -- 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.
  > 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.
  Wulf A. Kaal, Marco Dell'Erba, Initial Coin Offerings Emerging Practices, Risk Factors, and Red Flags (2017). SSRN: https://ssrn.com/abstract=3067615

## 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/best-practices.md | sha256sum

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