{
 "@context": "https://schema.org",
 "@type": "DefinedTerm",
 "@id": "https://wulfkaal.github.io/entities/gatekeepers",
 "identifier": "kaal:entity:gatekeepers",
 "name": "Gatekeepers",
 "termCode": "gatekeepers",
 "inDefinedTermSet": {
  "@id": "https://wulfkaal.github.io/entities/index.json"
 },
 "author": {
  "@type": "Person",
  "name": "Wulf A. Kaal",
  "identifier": "https://orcid.org/0000-0003-0757-275X"
 },
 "dateModified": "2026-07-29",
 "canonicalForm": "https://wulfkaal.github.io/entities/gatekeepers.md",
 "sha256": "e45c132f2a34ead4b6e3ed05be5c3639b71a2651b1d92969df98b46292828813",
 "additionalProperty": [
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   "name": "status",
   "value": "derived"
  },
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   "name": "claim_count",
   "value": 2
  },
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   "value": 2
  },
  {
   "@type": "PropertyValue",
   "name": "year_span",
   "value": [
    "2013",
    "2021"
   ]
  },
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  }
 ],
 "subjectOf": [
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/2273857-033",
   "identifier": "kaal:claim:2273857-033",
   "text": "Section 307 of Sarbanes-Oxley, the attorney up-the-ladder reporting mandate, has gone effectively unenforced: there is no evidence that the SEC ever charged an attorney with a violation of that section, even though lawyers were inevitably aware of executive misconduct in numerous instances.",
   "abstract": "there is no evidence that the SEC ever charged an attorney with a violation of Section 307.",
   "citation": "Wulf A. Kaal, Dynamic Regulation of the Financial Services Industry (2013). SSRN: https://ssrn.com/abstract=2273857",
   "datePublished": "2013",
   "claim_type": "empirical",
   "confidence": "evidenced",
   "is_failure_mode": true,
   "scope_conditions": [
    "SEC enforcement practice under Section 307 of SOX"
   ],
   "source_pdf_sha256": "e7cb3dea40593135acc99a9b00690138fe01020514ebf388f5140e1b0e59e82a",
   "status": "current"
  },
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/3949098-020",
   "identifier": "kaal:claim:3949098-020",
   "text": "In traditional underwriting, investors who cannot distinguish underwriters by reputation create free riding: once free riding occurs, underwriters stop investing in screening and try to free ride on others, producing a lemons problem.",
   "abstract": "As a result, free-riding on other's reputation may occur. Once free riding occurs, traditional underwriters will likely stop investing in their screening and instead attempt to free ride on others. This creates what is known as a lemons problem in the law and economics literature.",
   "citation": "Wulf A. Kaal, Reputation as Capital – How DAOs Upgrade Finance (2021). SSRN: https://ssrn.com/abstract=3949098",
   "datePublished": "2021",
   "claim_type": "failure",
   "confidence": "argued",
   "is_failure_mode": true,
   "scope_conditions": [
    "traditional underwriting markets",
    "investors cannot distinguish underwriters based on reputation"
   ],
   "source_pdf_sha256": "04297905564a6092b2db7640561f58fd374d3114c79527357bad09d11b909819",
   "status": "current"
  }
 ],
 "description": "2 claims in the published works of Wulf A. Kaal carry the concept tag 'gatekeepers'. Derived node: a roster, not an adjudicated definition."
}