Unlawful representations and names.
Section 32
SEC. 32. Unlawful representations and names.— It shall be unlawful for any person, in issuing or selling any security of which a registered investment company is the issuer, to represent or imply in any manner whatsoever that such security or company has been guaranteed, sponsored, recommended, or approved by the Republic of the Philippines or any agency or officer thereof. It shall be unlawful for any person registered under any section of this Act to represent or imply in any manner whatsoever that such person has been sponsored, recommended, or approved, or that his abilities or qualifications have in any respect been passed upon by the Republic of the Philippines or any agency or officer thereof. No provision of subsection (a) or (b) shall be construed to prohibit a statement that a person or security is registered under this Act or the Securities Act if such statement is true in fact and if the effect of such registration is not misrepresented. It shall be unlawful for any registered investment company hereafter to adopt as a part of the name or title of such company, or of any security of which it is the issuer, any word or words which the Commission finds and by order declares to be deceptive or misleading. The Commission is authorized to deny the registration of an investment company using such name or title.