Dynamic Regulation for Innovation

Dynamic Regulation for Innovation http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2831040 Wulf A. Kaal University of St. Thomas, Minnesota – School of Law; European Corporate Governance Institute (ECGI) August 27, 2016 Perspectives in Law, Business & Innovation (Mark Fenwick, Wulf A. Kaal, Toshiyuki Kono & Erik P.M. Vermeulen eds.), New York Springer (2016)  Abstract:  A large consensus in the literature suggests […]

Read more "Dynamic Regulation for Innovation"


http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2811729 BY WULF A. KAAL* & BENTLEY J. ANDERSON* ABSTRACT The proliferation of unconstrained mutual funds calls into question the effectiveness of retail investor protections under the Investment Company Act of 1940. Analyzing trading data and prospectuses of a hand-selected sample of all unconstrained mutual funds launched from 2010 through 2015 (N=449), the authors provide […]


How to Regulate Disruptive Innovation

How to Regulate Disruptive Innovation – from Facts to Data by Wulf A. Kaal , Erik P. M. Vermeulen :: SSRN Wulf A. Kaal   University of St. Thomas, Minnesota – School of Law; European Corporate Governance Institute (ECGI) Erik P. M. Vermeulen  Tilburg University – Department of Business Law; Philips Lighting – Legal Department; Tilburg […]

Read more "How to Regulate Disruptive Innovation"

Investment Advisers Modernization Act of 2016

Here is the link to the proposed “Investment Advisers Modernization Act of 2016” Here is the pertinent language from the proposed bill that would substantially limit private fund advisers’ reporting obligations: (b) FORM PF.—Not later than 90 days after the date of the enactment of this Act, the Commission shall amend section 275.204(b)–1 of title 17, Code […]

Read more "Investment Advisers Modernization Act of 2016"

Spring 2016 Speaking Tour – Japan & Europe

Looking forward to seeing Colleagues, Friends, and Family. Here is the tentative schedule: Topic: Venture Capital as Dynamic Regulation of Disruptive Innovation, Kyushu University, Fukuoka, Japan, March 25, 2016. Topic: Dynamic Regulation as Ethics of Competition, Conference on Ethics of Competition, Tutzingen, Germany, April 8-9, 2016. Topic:  Dynamic Regulation – Applications and Benefits, Universitaet Insbruck, Insbruck, Austria, […]

Read more "Spring 2016 Speaking Tour – Japan & Europe"

Implications of Mutual and Private Fund Convergence

originally published on: http://clsbluesky.law.columbia.edu/2016/02/01/implications-of-mutual-and-private-fund-convergence/ By Wulf Kaal February 1, 2016 Mutual funds are becoming more like hedge funds as a matter of investment strategy while hedge funds are becoming more like mutual funds as a matter of the regulatory framework. The growth of the private fund industry and the proliferation of retail alternative funds in combination with the […]

Read more "Implications of Mutual and Private Fund Convergence"