# Sec registration

`kaal:entity:sec-registration`

**Status.** derived

This node is assembled mechanically from the 4 claims that carry the concept tag `sec-registration`. 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 3 works, 2013 to 2019.

**2013**

- [2337268-027](https://wulfkaal.github.io/claims/2337268-027) [condition/asserted] -- An adviser that would otherwise have to register in fifteen or more states because of the $100 million AUM threshold may register directly with the SEC instead, so multi-state registration burden operates as an escape hatch to federal oversight.
  > However, should the $100 million AUM threshold result in an adviser's registration with fifteen or more states, the adviser is allowed to register directly with the SEC.86
  Wulf A. Kaal, Investment Adviser Regulation (2013). SSRN: https://ssrn.com/abstract=2337268
- [2337268-028](https://wulfkaal.github.io/claims/2337268-028) [condition/asserted] -- Investment advisers that provide advice exclusively through the Internet may register with the SEC regardless of how much they have under management, so the delivery channel rather than size determines the forum.
  > Regardless of the amount of AUM, investment advisers that provide investment advice exclusively through the Internet may register with the SEC.88
  Wulf A. Kaal, Investment Adviser Regulation (2013). SSRN: https://ssrn.com/abstract=2337268

**2014**

- [2389423-023](https://wulfkaal.github.io/claims/2389423-023) [empirical/evidenced] -- The analysis uses data from a 2012 survey study of a population of 1,264 private fund advisers registered before the SEC's registration effective date for private funds of March 30, 2012.
  > The data used for the analysis in this article was collected in the context of a 2012 survey study (Kaal [2013]) with a population of 1,264 private fund advisers, registered before the SEC's registration effective date for private funds, March 30, 2012.
  Wulf A. Kaal, The Impact of Dodd-Frank Act Compliance Cost on the Hedge Fund Industry (2014). SSRN: https://ssrn.com/abstract=2389423

**2019**

- [3411110-005](https://wulfkaal.github.io/claims/3411110-005) [empirical/evidenced] -- Overstock.com issued the first SEC registered digital securities using blockchain technology, and because the issuer was a public company conducting a shelf registration, the offering functions as a working model of blockchain benefits and as a map of the U.S. regulatory gaps.
  > OSTK issued the first Securities and Exchange Commission ("SEC") registered "digital securities" that utilizes blockchain technology.
  Wulf A. Kaal, Samuel Evans, Blockchain-Based Securities Offerings (2019). SSRN: https://ssrn.com/abstract=3411110

## 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/sec-registration.md | sha256sum

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