[DOWNLOAD] "Securities and Exchange Commission v. Capital Gains Research Bureau" by Supreme Court of the United States ~ Book PDF Kindle ePub Free
eBook details
- Title: Securities and Exchange Commission v. Capital Gains Research Bureau
- Author : Supreme Court of the United States
- Release Date : January 09, 1963
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 93 KB
Description
We are called upon in this case to decide whether under the Investment Advisers Act of 1940 the Securities and Exchange Commission may obtain an injunction compelling a registered investment adviser to disclose to his clients a practice of purchasing shares of a security for his own account shortly before recommending that security for long-term investment and then immediately selling the shares at a profit upon the rise in the market price following the recommendation. The answer to this question turns on whether the practice -- known in the trade as "scalping" -- "operates as a fraud or deceit upon any client or prospective client" within the meaning of the Act. We hold that it does and that the Commission may "enforce compliance" with the Act by obtaining an