# Regulatory justification

`kaal:entity:regulatory-justification`

**Status.** derived

This node is assembled mechanically from the 2 claims that carry the concept tag `regulatory-justification`. 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

2 claims across 2 works, 2009 to 2015.

**2009**

- [1428387-040](https://wulfkaal.github.io/claims/1428387-040) [failure/argued] *(failure mode)* -- Regulating on the basis of retailization would not currently be justifiable, because retailization cannot be quantified with any degree of certainty and regulation premised on speculation without proof or data validation would probably produce inadequate results.
  > Using a form of regulation that is premised on speculation without any proof or form of validation through data analysis would probably produce inadequate results and therefore would not be justifiable. (The SEC has not yet raised the
  Kaal, Hedge Fund Valuation Retailization, Regulation, and Investor Suitability (2009). SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1428387

**2015**

- [2629451-033](https://wulfkaal.github.io/claims/2629451-033) [normative/argued] -- Because the market reacts positively both to N/DPA announcements and to the governance improvements taking effect, the DOJ's escalation of N/DPA executions beginning in 2002 could be justified on market value grounds.
  > The positive market reaction to announcements of N/DPAs and to N/DPA governance improvements at the beginning of the N/DPA term suggest that the DOJ's increase in N/DPA executions, starting in 2002, could be justified.
  Wulf A. Kaal, Timothy Lacine, Stock Price Response to Non- and Deferred Prosecution Agreements (2015). SSRN: https://ssrn.com/abstract=2629451

## 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-justification.md | sha256sum

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