P.R. Laws tit. 10, § 851
It shall be unlawful for any person, relative to the offer, sale or purchase of any securities, directly or indirectly:
(1) To employ any device, scheme, or artifice to defraud;
(2) to make any untrue statement of a material fact or to omit to state a material fact necessary in order to make the statements made, in the light of the circumstances under which they are made, not misleading;
(3) to engage in any act, practice, or course of business which operates or would operate as a fraud or deceit upon any person;
(4) to issue, circulate, or publish any material, printed or through electronic means, containing false representation of a material fact, or omitting information concerning a necessary material fact, so that the information which is issued, circulated or published, in the light of the circumstances in which it was issued, circulated or published, leads to an error, or
(5) to issue, circulate, or publish any material, or make any written statement, unless the name of the person who issues, circulates or publishes or makes the aforesaid, and the fact that it is that person who issues, circulates, publishes or makes the statement, is clearly indicated in that same communication.
History —June 18, 1963, No. 60, p. 162, § 101; Aug. 11, 1996, No. 114, § 2.