entity · derived
Compliance costs
Derived node: assembled mechanically from the claims carrying compliance-costs. A roster, not an adjudicated definition.
Every claim under this term
- 1664809-023 : Legal uncertainty generates transaction costs, and European company boards will inevitably incur costs minimizing the information asymmetries created by different legal regimes that may or may not app
- 1806252-033 : Requiring advisers to adopt written policies to prevent and detect securities law violations presumes those violations are foreseeable, yet because Dodd-Frank substantially changed securities law, the
- 2317580-023 : The additional CIA requirements, and especially the self-reporting provisions, force companies to spend additional resources and at times to alter their day to day operations after signing.
- 2389416-005 : Dodd-Frank Act compliance costs reduce the profitability of hedge fund advisers' investment management companies, but registration and disclosure requirements do not appear to reduce the returns of th
- 2389416-006 : Analyst estimates place the annual cost of Dodd-Frank Act registration and disclosure compliance for hedge fund advisers in a range from $50,000 to $400,000 per year.
- 2389416-038 : The finding that Dodd-Frank Act registration does not depress hedge fund returns is consistent with prior evidence that higher administrative costs are only a second-order effect of the regulation.
- 2739479-004 : Prior survey evidence indicates that the hedge fund industry adjusted well to the Dodd-Frank registration and disclosure requirements, and that the actual impact of those rules was much less significa
- 2739479-009 : Smaller private funds spend more on compliance than larger ones, both as a share of AUM and relative to operating costs, which means increasing regulatory scrutiny falls disproportionately on smaller
- 2739479-023 : Rather than outsourcing required compliance work, the industry is on some metrics increasingly performing that work in-house, a shift consistent with the SEC's emphasis on compliance officer liability
- 2739479-024 : Between 2012 and 2015 the annual cost of Dodd-Frank compliance doubled for many survey respondents, moving from the $50,000 to $100,000 range into the $100,000 to $200,000 range.
- 2739479-025 : The shift of reported compliance hours out of the 251 to 500 hour band and into the 100 to 250 hour band suggests the industry became more effective at satisfying Dodd-Frank reporting obligations betw
- 2739479-026 : If compliance hour requirements are treated as a proxy for compliance cost, the survey data indicate that the cost of complying with all federal regulation, not just Dodd-Frank, increased between 2012
- 2739479-027 : Private fund advisers increasingly factor the regulatory structure into decisions about the size of their assets under management, a shift partly explained by the higher post-Dodd-Frank cost structure
- 2739479-031 : Because quarterly Form PF filing costs roughly $10,000 per reporting fund, the $1.5 billion threshold that triggers quarterly filing gives advisers a direct cost reason to factor that threshold into t
- 2739479-033 : Although Dodd-Frank compliance costs fall primarily on the investment adviser rather than the fund, advisers have increasingly built fund structures that pass most of those compliance expenses through
- 2739479-034 : Passing compliance costs through to reporting funds applies those costs against the funds' trading revenues, which produces an overall adverse impact on fund earnings and so shifts the burden of regul
- 2739479-035 : Among advisers who saw an earnings effect, the attributed cause shifted from direct expense to opportunity cost between 2012 and 2015, with opportunity cost references rising from 9 percent to 32 perc
- 2739479-036 : By 2015 a clear majority of respondents, 93 percent, attributed effects on their investment management company's profits to additional expenses associated with the Dodd-Frank Act, and no respondent re
- 2739479-037 : Even though the Dodd-Frank Act's overall regulatory impact on the private fund industry was low, the compliance costs generated by the evolving regulatory environment carry many unexpected consequence
- 2739479-038 : Changing AUM preferences driven by compliance costs could eventually produce industry consolidation aimed at cost savings, or drive a shift toward family offices that manage no third-party assets and
- 2739479-040 : Barriers to entry for small firms are becoming an increasing problem in the private fund industry under the evolving post-Dodd-Frank legal environment, with references to such barriers rising from 24
- 2816408-005 : Regulation could depress reported private fund performance through a compliance cost channel: because monthly performance is reported net of fees, a significant increase in compliance costs would show
- 2816408-006 : Dodd-Frank Act compliance costs fall most heavily on advisers managing the largest number of reporting funds, because private fund advisers incur roughly $10,000 in compliance cost per reporting fund.
- 2816408-009 : Surveys of private fund managers conducted in 2012 and 2015 show that a clear majority of managers believed increased compliance costs negatively affect the industry.
- 2816408-010 : Private fund managers themselves distinguish costs from returns: a majority of surveyed managers opined that Dodd-Frank Act registration and disclosure requirements do not affect the returns of the pr
- 2816408-011 : Estimates of annual Dodd-Frank Act compliance cost for private fund advisers range from $50,000 to $400,000 per year.
- 2816408-031 : Prior work by Kaal shows that Dodd-Frank Act registration and increased compliance requirements only marginally increase the cost structure of private funds, and finds non-robust evidence that higher
- 2959730-038 : Lower operating costs enabled by blockchain platform models will especially enable new and future managers to enter the market because start up and compliance costs can be significantly reduced.
- 2998033-029 : Blockchain platforms for fund formation lower start up and compliance costs, which especially enables new and future managers to enter the market rather than merely benefiting existing managers.
- 2998097-015 : The second survey found long-term negative effects of Title IV: 34.9 percent of respondents expected it to affect the industry over the next five years through additional expenses, and 32.6 percent ex
- 2998097-016 : The SEC's efforts to clarify and optimize the post Dodd-Frank framework cut both ways: they supported industry compliance with the revised standards while simultaneously creating uncertainty and highe
- 2998097-017 : The industry largely absorbed the increased expenses of the Dodd-Frank Act by increasing the use of pass-through expense terms in adviser and fund arrangements, which is why advisers increasingly attr
- 3405660-032 : By letting funds implement their own risk monitoring systems, indirect regulation avoids compliance costs that would otherwise threaten the profitability needed to justify the 2 and 20 fee structure t
- 3411110-008 : The compliance burden attached to operating an alternative trading system, including fees, consumer protection, examination, and books and records requirements, is typically cost prohibitive for start
- 4957318-001 : Legal accumulation is produced by a specific legislative practice: new regulations are layered over existing ones without repealing outdated provisions. The resulting corpus is more complex and less t