ADDITIONAL SEC DISCLOSURE AUTHORITY.

SEC. 214. ADDITIONAL SEC DISCLOSURE AUTHORITY. Section 35(a) of the Investment Company Act of 1940 (15 U.S.C. 80a–34(a)) is amended to read as follows: “(a) Misrepresentation of Guarantees.— “(1) In general.—It shall be unlawful for any person, issuing or selling any security of which a registered investment company is the issuer, to represent or imply in any manner whatsoever that such security or company— “(A) has been guaranteed, sponsored, recommended, or approved by the United States, or any agency, instrumentality or officer of the United States; “(B) has been insured by the Federal Deposit Insurance Corporation; or “(C) is guaranteed by or is otherwise an obligation of any bank or insured depository institution. “(2) Disclosures.—Any person issuing or selling the securities of a registered investment company that is advised by, or sold through, a bank shall prominently disclose that an 113 STAT. 1399investment in the company is not insured by the Federal Deposit Insurance Corporation or any other government agency. The Commission may, after consultation with and taking into consideration the views of the Federal banking agencies (as defined in section 3 of the Federal Deposit Insurance Act), adopt rules and regulations, and issue orders, consistent with the protection of investors, prescribing the manner in which the disclosure under this paragraph shall be provided. “(3) Definitions.—The terms ‘insured depository institution’ and ‘appropriate Federal banking agency’ have the same meanings as given in section 3 of the Federal Deposit Insurance Act.”.