P.R. Laws tit. 7, § 1259
(a) In addition to the other regulations provided in this chapter, the Commissioner shall adopt regulations to govern what regards to:
(1) The commissions or sales charges that will be collected for the purchase or sale of proprietary interests in a fund or a designated entity.
(2) The maximum percentage of the money of an investment capital fund or designated entity that can be used and attributed to its administrative expenses, to professional and consulting services and others related to its investments.
(3) The prospectus, pamphlet, circular, newsletter, advertisement or any other sales literature or advertising material addressed to, or intended for distribution to potential investors, including the clients or prospective clients of an investment advisor, to watch over and closely supervise all types of advertising and publicity developed by each fund or designated entity, in order to protect the participating investors at all times.
(4) Any other rules and regulations needed to ensure compliance with this chapter and the protection of the investor’s interests.
(b) In addition to the other regulations provided in this chapter, the Secretary shall adopt regulations to govern what is related to §§ 1250, 1251, 1252, 1253(c) and (d), 1254, 1255, 1256, and 1258 of this title.
History —Oct. 6, 1987, No. 3, p. 840, § 19, renumbered as § 20 and amended on July 11, 1996, No. 70, § 19[bis]