Just because it's more likely than not part of their due diligence, and they have the connections to do it. "Hey, before we sign off, call your ex-manager Bob

Just because it's more likely than not part of their due diligence, and they have the connections to do it. "Hey, before we sign off, call your ex-manager Bob at the SEC and ask Bill from the CFTC at your dinner party tonight if the hammer's coming down on this stuff." Yes, big dumb bets and Theranos-type due diligence exist, but I'm just saying my own estimation of it. "Assurances" might be too strong a word, maybe more like "not-unfavorable insider reports on regulator sentiment"