failure family

disclosure ineffectiveness

36 claims across 18 works.

• disclosure-without-comprehension: More disclosure does not always mean better governance, because the information provided may be hard to assess and evaluate.
• hidden guarantee exposure: German banks' exposure to CDO risk ran through credit enhancement and liquidity guarantees given to off balance sheet conduits, and because that expos
• incoherent EU disclosure: The EU's Market Abuse, Transparency, Markets in Financial Instruments and Prospectus Directives improved European securities regulation but still do n
• complexity defeats disclosure: Routine engagement in highly complex transactions lets public companies conceal risky transactions from investors and even from their own directors, w
• innovation outruns disclosure: The more a country leads in financial innovation, the more exposed its disclosure regime is to misrepresentation and fraud, which makes the U.S. regim
• mandated-disclosure-not-publicly-accessible: Mandated disclosure does not automatically produce usable public data: although Form ADV requires advisers to disclose chief compliance officer contac
• disclosure-sanitization: Mandatory reporting does not guarantee informative reporting: anecdotal evidence indicates that advisers can present the information required in Forms
• sanitized-disclosure-defeats-systemic-risk-monitoring: If advisers sanitize their Form ADV and Form PF filings, the disclosures become less useful for FSOC and SEC evaluation and undermine the very determi
• marginal deterrence from disclosure threat: Under the regulatory framework in place at the time of writing, the threat that hedge funds' systemic risk filings could be publicly disclosed through
• disclosure rule drives parties into the shadows: Revised Rule 2019 may in effect produce less overall disclosure of creditor activities in the bankruptcy process and push bankruptcy creditors into th
• generic disclosure mismatch with bankruptcy needs: Form PF disclosures in their existing format are too generic to be appropriately applied in bankruptcy, but accumulated experience with the form and s
• disclosure fails to curb influence or misuse: Systemic risk disclosures in the bankruptcy process would also not significantly change or limit hedge funds' influence in that process, nor would the
• no-detectable-regulatory-effect-on-returns: Across an array of robustness tests, the requirements introduced by the Dodd-Frank Act create no significant effect on private fund performance, with
• questionnaire template gaming: Before the financial crisis of 2008 to 2009, the standard AIMA and MFA due diligence questionnaire templates were often deployed defensively: managers
• Undisclosed co-investment allocation: Co-investment arrangements become problematic when a fund grants a co-investment opportunity in exchange for a future or increased fund commitment and
• Aggregation destroys informational value: A system in which hedge funds submit position information to an authority that aggregates and publishes it cannot address liquidity risk, because prot
• Demystification without risk reduction: A public database of nonproprietary hedge fund information might demystify the industry, but it would not address the central policy concern that opac
• Disclosure regime outpaced by product complexity: The proliferation of unconstrained mutual funds calls into question whether the retail investor protections built into the Investment Company Act of 1
• Compliant disclosure that still fails to inform: Reliance on prospectuses and other disclosures by an unconstrained mutual fund that in all material respects complies with the Company Act may be insu
• Comprehension gap: It is questionable whether retail investors typically have the experience or training to fully appreciate the risks disclosed in unconstrained mutual
• Disclosure saturation does not produce understanding: The broad investment authority of unconstrained mutual fund managers exposes retail investors to fluid trading and investing patterns that the average
• Complexity-blind disclosure policy: The SEC continues to rely on disclosure as the means of mitigating investor risk from unconstrained and other mutual funds irrespective of the complex
• Prospectus may not meet the statutory adequacy standard: The absence of any current requirement to present unconstrained portfolio risks in detail raises the question whether unconstrained mutual fund prospe
• unreasoned-decisions-undermine-legitimacy: Aragon appears not to post even a summary of its arbiters' reasoning, which may cause the losing party to second guess the legitimacy of the entire Ar
• Unreviewed and unrated whitepaper disclosure: ICOs are not subject to predefined regulatory procedures: whitepapers do not follow prospectus disclosure guidelines, are not reviewed or audited by a
• Sanitized disclosure degrades systemic risk data: Because advisers and third party service providers can flatten out and sanitize the information disclosed in Forms ADV and PF, the resulting disclosur
• Generic disclosure rules blunt the discipline effect: The threat of public disclosure of systemic risk filings through the bankruptcy process only marginally affected hedge funds' tactics and their role i
• legal mediation of communication: The use of legalese and substantial involvement of the legal department in corporate communications substantially damages the originality and authenti
• advisor chilling effect: Corporate lawyers and governance experts still discourage executives from communicating in a personalized, speech-like way, particularly on social med
• incomplete-governance-disclosure: Many token whitepapers omit information necessary for a full economic analysis, and the research team could not find a single project among the top 10
• disclosure-vacuum: The absence of mandatory disclosure requirements for ICOs leads many promoters to make irregular or no disclosures about the platform over time, produ
• disclosure-driven-volatility: Because ICOs give investors very limited assurances through upfront and continuous disclosures, the token market is highly volatile.
• balance sheet disclosure inadequacy: Hedge fund disclosure to counterparties and investors relies on balance sheet concepts that are uninformative about the actual nature of market risk a
• disclosure decay after the raise: The absence of mandatory disclosure obligations for ICOs leads promoters to make irregular disclosures or none at all as time passes, producing a sign
• undisclosed valuation policy: Digital asset fund valuation disputes are aggravated by nondisclosure: Polychain Capital told a redeeming investor that the fund's asset valuation pol
• self reporting incentive failure: Mandatory AI use reporting fails as a transparency mechanism because it assumes accurate and complete disclosure, while regulated entities have incent