It shall be unlawful for any person in offering, selling or issuing any security to represent or imply in any manner whatsoever that any action or failure to act by the Commission in the administration of this subchapter means that the Commission has in any way passed upon the merits of, or given approval to, any trustee, indenture or security, or any transaction or transactions therein, or that any such action or failure to act with regard to any statement or report filed with or examined by the Commission pursuant to this subchapter or any rule, regulation, or order thereunder, has the effect of a finding by the Commission that such statement or report is true and accurate on its face or that it is not false or misleading.
Structure US Code
CHAPTER 2A— SECURITIES AND TRUST INDENTURES
SUBCHAPTER III— TRUST INDENTURES
§ 77bbb. Necessity for regulation
§ 77ddd. Exempted securities and transactions
§ 77eee. Securities required to be registered under Securities Act
§ 77fff. Securities not registered under Securities Act
§ 77ggg. Qualification of indentures covering securities not required to be registered
§ 77hhh. Integration of procedure with Securities Act and other Acts
§ 77iii. Effective time of qualification
§ 77jjj. Eligibility and disqualification of trustee
§ 77kkk. Preferential collection of claims against obligor
§ 77mmm. Reports by indenture trustee
§ 77nnn. Reports by obligor; evidence of compliance with indenture provisions
§ 77ooo. Duties and responsibility of the trustee
§ 77qqq. Special powers of trustee; duties of paying agents
§ 77rrr. Effect of prescribed indenture provisions
§ 77sss. Rules, regulations, and orders
§ 77ttt. Hearings by Commission
§ 77uuu. Special powers of the Commission
§ 77www. Liability for misleading statements
§ 77xxx. Unlawful representations
§ 77zzz. Effect on existing law