# Regulatory change

`kaal:entity:regulatory-change`

**Status.** derived

This node is assembled mechanically from the 6 claims that carry the concept tag `regulatory-change`. 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

6 claims across 6 works, 2010 to 2025.

**2010**

- [1664809-015](https://wulfkaal.github.io/claims/1664809-015) [mechanism/argued] -- Assimilation of US legal rules into European regulatory approaches may itself increase transaction costs for the jurisdiction that changes its law.
  > Assimilation of US legal rules in turn may result in increased
  Richard W. Painter, Wulf A. Kaal, Extraterritorial Application of US Securities Law – Will the US Become the Default Jurisdiction for (2010). SSRN: https://ssrn.com/abstract=1664809

**2014**

- [2389416-001](https://wulfkaal.github.io/claims/2389416-001) [definitional/asserted] -- Title IV of the Dodd-Frank Act represents the most significant regulatory change in the history of the hedge fund industry, imposing mandatory adviser registration and disclosure for the first time since the industry's inception.
  > Title IV of the Dodd-Frank Act introduced the most significant regulatory change in the history of the hedge fund industry.
  Wulf A. Kaal, Barbara Luppi, Sandra Paterlini, Did the Dodd-Frank Act Impact Hedge Fund Performance (2014). SSRN: https://ssrn.com/abstract=2389416
- [2486570-022](https://wulfkaal.github.io/claims/2486570-022) [mechanism/argued] -- If leading corporations in an industry are bound by substantially similar agreements, the government's privileged access to information and its continuing oversight beyond the agreement term can make business and governance practices in that industry change lastingly.
  > Given the government's privileged access to information and continuing government oversight, even after the N/DPA term expires, business and governance practices in that industry could encounter lasting change.
  Wulf A. Kaal, Timothy Lacine, The Effect of Deferred and Non-Prosecution Agreements on Corporate Governance Evidence from 1993-20 (2014). SSRN: https://ssrn.com/abstract=2486570

**2015**

- [2629451-016](https://wulfkaal.github.io/claims/2629451-016) [mechanism/argued] -- Unlike legislative mandates, N/DPA governance changes are preceded by no public debate or publicity, so their effect on firm value is not gradually incorporated into prices and is therefore testable by event study.
  > congressional mandates, prior to the ANDPAE there is no public debate or other publicity pertaining to the anticipated governance changes in the NDPA or possible fines. Accordingly, the effect of NDPA governance changes on firm value is not gradual and therefore testable.
  Wulf A. Kaal, Timothy Lacine, Stock Price Response to Non- and Deferred Prosecution Agreements (2015). SSRN: https://ssrn.com/abstract=2629451

**2024**

- [4855607-040](https://wulfkaal.github.io/claims/4855607-040) [condition/argued] -- Governance protocols themselves must be continuously evaluated and adapted, because without that ongoing revision AI models will neither maintain optimal performance nor stay in line with changing regulations and societal expectations.
  > Moreover, continuously evaluating and adapting governance protocols is vital to maintain optimal performance of AI models and ensure they stay in line with changing regulations and societal expectations.
  Wulf A. Kaal, How AI Models are Optimized Through Web3 Governance (2024). SSRN: https://ssrn.com/abstract=4855607

**2025**

- [5095633-035](https://wulfkaal.github.io/claims/5095633-035) [failure/argued] *(failure mode)* -- Because Fetch.ai's reputation metrics do not adjust to evolving ethical, legal, and community standards, the platform risks entrenching biases and outdated practices.
  > the platform risks reinforcing biases or outdated practices if metrics are insufficiently aligned with changes in societal expectations or regulatory norms.
  Wulf A. Kaal, Artificial Intelligence The Final Frontier (2025). SSRN: https://ssrn.com/abstract=5095633

## 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/regulatory-change.md | sha256sum

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