# Definitional ambiguity

`kaal:entity:definitional-ambiguity`

**Status.** derived

This node is assembled mechanically from the 7 claims that carry the concept tag `definitional-ambiguity`. 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

7 claims across 3 works, 2013 to 2017.

**2013**

- [2348463-014](https://wulfkaal.github.io/claims/2348463-014) [failure/argued] *(failure mode)* -- The definition of representation in Revised Rule 2019 leaves it unclear whether attorneys who merely monitor a bankruptcy case for a client, without soliciting or advocating a position before the court, represent those clients for disclosure purposes.
  > it is unclear if attorneys who merely monitor a bankruptcy case on behalf of a client but do not solicit or advocate a position before the bankruptcy court "represent" their respective clients under Revised Rule 2019.
  Wulf A. Kaal, Hedge Funds’ Systemic Risk Disclosures in Bankruptcy (2013). SSRN: https://ssrn.com/abstract=2348463

**2014**

- [2470008-004](https://wulfkaal.github.io/claims/2470008-004) [failure/evidenced] *(failure mode)* -- Even though the private fund industry broadly accepted Form PF, the form's core problems for the SEC are the ambiguity of several questions, advisers' disagreement with the definition of funds, and correspondingly insufficient SEC guidance.
  > the core challenges for the SEC in Form PF include: the ambiguity of several questions on Form PF, private fund advisers' disagreement with the definition of funds in Form PF and corresponding insufficiency of SEC guidance
  Wulf A. Kaal, The Systemic Risk of Private Funds after the Dodd-Frank Act (2014). SSRN: https://ssrn.com/abstract=2470008
- [2470008-028](https://wulfkaal.github.io/claims/2470008-028) [failure/evidenced] *(failure mode)* -- The substantive defects in Form PF data are the ambiguity of several key questions, inaccurate definitions paired with insufficient SEC guidance, and difficulty aggregating the required information.
  > Core substantive issues with Form PF include: the ambiguity of several key questions on Form PF, the inaccuracy of Form PF definitions and corresponding insufficiency of SEC guidance for Form PF, and difficulties in aggregating the required Form PF information.
  Wulf A. Kaal, The Systemic Risk of Private Funds after the Dodd-Frank Act (2014). SSRN: https://ssrn.com/abstract=2470008
- [2470008-029](https://wulfkaal.github.io/claims/2470008-029) [empirical/evidenced] *(failure mode)* -- More than forty percent of respondents in a prior study disagreed with the definitions or instructions in Form PF.
  > Over forty percent of respondents in a prior study suggested that they disagreed with definitions or instructions in Form PF.
  Wulf A. Kaal, The Systemic Risk of Private Funds after the Dodd-Frank Act (2014). SSRN: https://ssrn.com/abstract=2470008
- [2470008-030](https://wulfkaal.github.io/claims/2470008-030) [failure/evidenced] *(failure mode)* -- The Form PF definition of Regulatory Assets under Management is the leading example of a definition that forced filers to interpret what they were required to report.
  > Especially the definition of Regulatory Assets under Management (RAUM), as required by Form PF, required filers to interpret what they were required to report.
  Wulf A. Kaal, The Systemic Risk of Private Funds after the Dodd-Frank Act (2014). SSRN: https://ssrn.com/abstract=2470008
- [2470008-031](https://wulfkaal.github.io/claims/2470008-031) [failure/evidenced] *(failure mode)* -- The interpretation Form PF demands generated particular concern among filers about the definition of counterparties and about counterparty performance measures.
  > The level of interpretation required to answer Form PF precipitated particular concerns among filers pertaining to the definition of counterparties and performance measures for counterparties in Form PF.
  Wulf A. Kaal, The Systemic Risk of Private Funds after the Dodd-Frank Act (2014). SSRN: https://ssrn.com/abstract=2470008

**2017**

- [2998097-023](https://wulfkaal.github.io/claims/2998097-023) [failure/evidenced] *(failure mode)* -- Form PF data suffer from core shortcomings: ambiguity in several key questions, inaccurate definitions with correspondingly insufficient SEC guidance, and difficulty aggregating the required information.
  > These included: the ambiguity of several key questions on Form PF, the inaccuracy of Form PF definitions and the corresponding insufficiency of SEC guidance for Form PF, and difficulties in aggregating the required Form PF information.
  Wulf A. Kaal, Private Investment Fund Regulation - Theory and Empirical Evidence from 1998 to 2016 (2017). SSRN: https://ssrn.com/abstract=2998097

## 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/definitional-ambiguity.md | sha256sum

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