15 U.S.C. § 80a–34 — Unlawful representations and names

(a) Misrepresentation of guarantees. (1) It's unlawful for anyone selling securities of a registered investment company to claim or imply the security or the company (A) is guaranteed, sponsored, recommended, or approved by the United States or one of its agencies or officers; (B) is insured by the FDIC; or (C) is guaranteed by, or is an obligation of, a bank or insured depository institution. (2) Anyone selling securities of a fund advised by, or sold through, a bank must clearly disclose that investing in the fund isn't insured by the FDIC or any other government agency; the SEC, after consulting federal banking regulators, can make rules on how that disclosure must be given. (3) "Insured depository institution" and "appropriate Federal banking agency" mean what they mean in section 1813 of title 12. (b) Unlawful representation of sponsorship by United States or agency thereof. It's unlawful for anyone registered under this law to claim or imply that the United States, or any of its agencies or officers, sponsored, recommended, or approved them, or vetted their qualifications. (c) Statement of registration under securities provisions. (a) and (b) don't stop someone from truthfully stating that a person or security is registered under this law, the Securities Act of 1933, or the Securities Exchange Act of 1934, as long as the statement is true and doesn't misrepresent what that registration means. (d) Deceptive or misleading names. A registered investment company can't use, as part of its own name or the name of its securities, any word the SEC finds materially deceptive or misleading. The SEC can define, by rule, regulation, or order, which names count as deceptive or misleading.