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http://ssrn.com/abstract=1367682
 
 

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The Regulation of Mutual Fund Names and the Societal Role of Trust: An Exploration of Section 35(D) of the Investment Company Act


Larry D. Barnett


Widener University - School of Law

March 24, 2009

DePaul Business & Commercial Law Journal, Vol. 3, 2005

Abstract:     
Section 35(d) of the Investment Company Act authorizes the Securities and Exchange Commission to regulate the names of investment companies that are registered with the Commission, and bars registered investment companies - the vast majority of which are mutual funds - from using names that contain words "that the Commission finds are materially deceptive or misleading." The article relates the regulation of investment company names to the importance to society of trust. Pertinent case law under section 35(d) is reviewed, and Rule 35d-1 is discussed. The article also considers fund names that are not covered either by section 35(d) or by Rule 35d-1 - specifically, names that are "cute" or "catchy" - and suggests a possible revision of the section. The suggested revision employs a behavioral science, value-neutral approach to fund names rather than the present value-based approach.

Number of Pages in PDF File: 38

Keywords: mutual funds, investment companies, names, trust

JEL Classification: K23

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Date posted: March 25, 2009  

Suggested Citation

Barnett, Larry D., The Regulation of Mutual Fund Names and the Societal Role of Trust: An Exploration of Section 35(D) of the Investment Company Act (March 24, 2009). DePaul Business & Commercial Law Journal, Vol. 3, 2005. Available at SSRN: http://ssrn.com/abstract=1367682

Contact Information

Larry D. Barnett (Contact Author)
Widener University - School of Law ( email )
4601 Concord Pike
P.O. Box 7474
Wilmington, DE 19803-0474
United States
302-477-2134 (Phone)
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