# Hedge fund advisers

`kaal:entity:hedge-fund-advisers`

**Status.** derived

This node is assembled mechanically from the 4 claims that carry the concept tag `hedge-fund-advisers`. 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

4 claims across 2 works, 2012 to 2013.

**2012**

- [2150377-014](https://wulfkaal.github.io/claims/2150377-014) [empirical/evidenced] -- Persistent multi-channel follow-up, by fax, e-mail, and telephone, yielded ninety-four completed surveys, a 7.42% response rate from a population of 1267, which is substantially higher than response rates in prior surveys of this industry.
  > This procedure proved successful and yielded ninety-four completed surveys, a response rate of 7.42% of a population of 1267. This response rate is substantially higher than the response rate of prior surveys in a related context.175
  Wulf A. Kaal, Hedge Fund Manager Registration Under the Dodd-Frank Act (2012). SSRN: https://ssrn.com/abstract=2150377
- [2150377-024](https://wulfkaal.github.io/claims/2150377-024) [empirical/evidenced] -- The time burden of complying with all federal rules applicable to hedge fund advisers has a median of 500 hours per year, with three quarters of respondents at 750 hours or less and a quarter above that, so the burden distribution is skewed rather than uniform.
  > The median response was 500 hours per year. Seventy-five percent of respondents believed the federal rules would take 750 hours or less each year. On the other hand, 25% indicated the federal rules would require more than 750 hours.
  Wulf A. Kaal, Hedge Fund Manager Registration Under the Dodd-Frank Act (2012). SSRN: https://ssrn.com/abstract=2150377

**2013**

- [2337268-015](https://wulfkaal.github.io/claims/2337268-015) [failure/argued] *(failure mode)* -- The pre Dodd-Frank exemption for advisers with fewer than fifteen clients failed as a regulatory boundary because most hedge fund advisers deliberately designed their operations and legal structures to fit within it and thereby escape SEC registration and supervision.
  > Most hedge fund advisers set up their operations and legal structure to comply with the former exemption so as to avoid registration and supervision by the SEC.28
  Wulf A. Kaal, Investment Adviser Regulation (2013). SSRN: https://ssrn.com/abstract=2337268
- [2337268-017](https://wulfkaal.github.io/claims/2337268-017) [mechanism/argued] -- 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.
  > 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.
  Wulf A. Kaal, Investment Adviser Regulation (2013). SSRN: https://ssrn.com/abstract=2337268

## 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/hedge-fund-advisers.md | sha256sum

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