P.R. Laws tit. 23, § 6036
The Commissioner shall promulgate regulations, in addition to the others provided in this chapter, to regulate matters in relation to:
(a) The sales commissions or fees that the participants are to be charged for the purchase or sale of stock or shares;
(b) the maximum percent of the monies of a fund that may be used for or attributed to the administrative, professional and consulting services and other expenses related to its investments;
(c) the prospectus, pamphlet, circular, circular letter, announcement or any sales literature or advertising material addressed, or which is intended for distribution, to potential investors, including prospective or present clients of an investment adviser to oversee and supervise closely any kind of publicity or promotion developed by each fund, with the purpose of protecting the participants at all times, and
(d) any other rule and regulation needed to ensure compliance with this chapter and the protection of the participants.
History —Sept. 10, 1993, No. 78, § 26.