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 "name": "Dodd frank title iv",
 "termCode": "dodd-frank-title-iv",
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 "author": {
  "@type": "Person",
  "name": "Wulf A. Kaal",
  "identifier": "https://orcid.org/0000-0003-0757-275X"
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 "subjectOf": [
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/2337268-009",
   "identifier": "kaal:claim:2337268-009",
   "text": "Congress created distinct hedge fund adviser categories in Title IV of the Dodd-Frank Act because it recognized that not all hedge fund advisers pose the same systemic risks and therefore do not all require the same level of oversight.",
   "abstract": "When it passed the Dodd-Frank Act,17 Congress recognized that not all hedge fund advisers pose the same systemic risks and therefore require the same level of oversight. Congress therefore created different hedge fund adviser categories in Title IV of the Dodd-Frank Act.18",
   "citation": "Wulf A. Kaal, Investment Adviser Regulation (2013). SSRN: https://ssrn.com/abstract=2337268",
   "datePublished": "2013",
   "claim_type": "mechanism",
   "confidence": "argued",
   "is_failure_mode": false,
   "scope_conditions": [
    "hedge fund advisers under Title IV of the Dodd-Frank Act"
   ],
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   "status": "current"
  },
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/2337268-010",
   "identifier": "kaal:claim:2337268-010",
   "text": "Title IV and the SEC forms use assets under management as a proxy for systemic threat, so that disclosure obligations scale upward with the size of the hedge fund adviser.",
   "abstract": "forms suggest that the larger the hedge fund advisers, as measured by their assets under management (AUM), the higher the possible systemic threat the respective fund poses. Accordingly, the disclosure requirements increase with the AUM size of hedge fund advisers.",
   "citation": "Wulf A. Kaal, Investment Adviser Regulation (2013). SSRN: https://ssrn.com/abstract=2337268",
   "datePublished": "2013",
   "claim_type": "design",
   "confidence": "argued",
   "is_failure_mode": false,
   "scope_conditions": [
    "hedge fund advisers categorized by AUM under Title IV"
   ],
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   "status": "current"
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  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/2337268-011",
   "identifier": "kaal:claim:2337268-011",
   "text": "Mid-sized investment advisers, those with between $25 and $100 million AUM, fall to state authorities rather than the SEC, though they may still have to register with the state agency where their principal place of business is located.",
   "abstract": "Under Title IV, state authorities are responsible for mid- sized investment advisers.20 While mid-sized advisers are not required to register with the SEC, they may still be required to register with the state agency in the state of their principal place of business.21",
   "citation": "Wulf A. Kaal, Investment Adviser Regulation (2013). SSRN: https://ssrn.com/abstract=2337268",
   "datePublished": "2013",
   "claim_type": "definitional",
   "confidence": "asserted",
   "is_failure_mode": false,
   "scope_conditions": [
    "advisers with between $25 and $100 million AUM",
    "under Title IV of the Dodd-Frank Act"
   ],
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   "status": "current"
  },
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/2337268-016",
   "identifier": "kaal:claim:2337268-016",
   "text": "The foreign private adviser exemption that replaced the fewer than fifteen clients exemption is conjunctive: it requires fewer than fifteen U.S. clients and investors, no U.S. place of business, no holding out to the U.S. public, and less than $25 million AUM attributable to U.S. clients and investors.",
   "abstract": "have fewer than fifteen clients and investors in the United States, do not have a place of business in the United States, do not hold themselves out to the U.S. public as an investment adviser, and do not attribute more than $25 million AUM solely to U.S. clients and investors.30",
   "citation": "Wulf A. Kaal, Investment Adviser Regulation (2013). SSRN: https://ssrn.com/abstract=2337268",
   "datePublished": "2013",
   "claim_type": "condition",
   "confidence": "asserted",
   "is_failure_mode": false,
   "scope_conditions": [
    "advisers claiming the foreign private adviser exemption after 2010"
   ],
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   "status": "current"
  },
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/2337268-017",
   "identifier": "kaal:claim:2337268-017",
   "text": "The Title IV threshold registration requirement pulls a majority of the hedge fund advisers who had previously relied on the fewer than fifteen clients exemption into SEC registration.",
   "abstract": "The threshold registration requirement for private fund advisers under Title IV of the Dodd-Frank Act requires a majority of hedge fund advisers who had previously relied on the fewer than fifteen clients exemption31 to register with the SEC.",
   "citation": "Wulf A. Kaal, Investment Adviser Regulation (2013). SSRN: https://ssrn.com/abstract=2337268",
   "datePublished": "2013",
   "claim_type": "mechanism",
   "confidence": "argued",
   "is_failure_mode": false,
   "scope_conditions": [
    "private fund advisers managing more than $150 million AUM"
   ],
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  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/2348463-001",
   "identifier": "kaal:claim:2348463-001",
   "text": "There is a substantial overlap between the systemic risk disclosure requirements imposed on hedge fund advisers under Title IV of the Dodd-Frank Act and the disclosure requirements under the fully revised version of Bankruptcy Rule 2019.",
   "abstract": "The author provides evidence of a substantial overlap between systemic risk disclosure requirements under Title IV and the disclosure requirements under the fully-revised version of Bankruptcy Rule 2019 (Revised Rule 2019).",
   "citation": "Wulf A. Kaal, Hedge Funds’ Systemic Risk Disclosures in Bankruptcy (2013). SSRN: https://ssrn.com/abstract=2348463",
   "datePublished": "2013",
   "claim_type": "empirical",
   "confidence": "evidenced",
   "is_failure_mode": false,
   "scope_conditions": [
    "hedge fund advisers subject to Title IV reporting",
    "creditors and groups covered by Revised Rule 2019 in chapter 9 and chapter 11 cases"
   ],
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   "status": "current"
  },
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/2348463-026",
   "identifier": "kaal:claim:2348463-026",
   "text": "Hedge fund adviser registration and disclosure requirements under Title IV and the SEC implementation rules were instituted for the opposite reason: to stop hedge funds from operating in the shadows of financial markets.",
   "abstract": "hedge fund adviser registration and disclosure requirements under Title IV and SEC implementation rules were instituted to avoid hedge funds operating in the shadows of financial markets.",
   "citation": "Wulf A. Kaal, Hedge Funds’ Systemic Risk Disclosures in Bankruptcy (2013). SSRN: https://ssrn.com/abstract=2348463",
   "datePublished": "2013",
   "claim_type": "definitional",
   "confidence": "evidenced",
   "is_failure_mode": false,
   "scope_conditions": [],
   "source_pdf_sha256": "b3682f24c0b277b3307fb9f54cd17a4e0a87b48eecba34b40e189212f20c9a22",
   "status": "current"
  }
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 "description": "7 claims in the published works of Wulf A. Kaal carry the concept tag 'dodd-frank-title-iv'. Derived node: a roster, not an adjudicated definition."
}