Task: sc_issue_8

What follows is an opinion from the Supreme Court of the United States. Your task is to determine the issue of the Court's decision. Determine the issue of the case on the basis of the Court's own statements as to what the case is about. Focus on the subject matter of the controversy rather than its legal basis.

Mr. Justice Goldberg
delivered the opinion of the Court.
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 injunction requiring the adviser to make full disclosure of the practice to his clients.
The Commission brought this action against respondents in the United States District Court for the Southern District of New York. At the hearing on the application for a preliminary injunction, the following facts were established. Respondents publish two investment advisory services, one of which — “A Capital Gains Report” — is the subject of this proceeding. The Report is mailed monthly to approximately 5,000 subscribers who each pay an annual subscription price of $18. It carries the following description:
“An Investment Service devoted exclusively to (1) The protection of investment capital. (2) The realization of a steady and attractive income therefrom. (3) The accumulation of CAPITAL GAINS thru the timely purchase of corporate equities that are proved to be undervalued.”
Between March 15, 1960, and November 7, 1960, respondents, on six different occasions, purchased shares of a particular security shortly before recommending it in the Report for long-term investment. On each occasion, there was an increase in the market price and the volume of trading of the recommended security within a few days after the distribution of the Report. Immediately thereafter, respondents sold their shares of these securities at a profit. They did not disclose any aspect of these transactions to their clients or prospective clients.
On the basis of the above facts, the Commission requested a preliminary injunction as necessary to effectuate the purposes of the Investment Advisers Act of 1940. The injunction would have required respondents, in any future Report, to disclose the material facts concerning, inter alia, any purchase of recommended securities “within a very short period prior to the distribution of a recommendation...,” and “[t]he intent to sell and the sale of said securities... within a very short period after distribution of said recommendation....”
The District Court denied the request for a preliminary injunction, holding that the words “fraud” and “deceit” are used in the Investment Advisers Act of 1940 “in their technical sense” and that the Commission had failed to show an intent to injure clients or an actual loss of money to clients. 191 F. Supp. 897. The Court of Appeals for the Second Circuit, sitting en banc, by a 5-to-4 vote accepted the District Court’s limited construction of “fraud” and “deceit” and affirmed the denial of injunctive relief. 306 F. 2d 606. The majority concluded that no violation of the Act could be found absent proof that “any misstatements or false figures were contained in any of the bulletins”; or that “the investment advice was unsound”; or that “defendants were being bribed or paid to tout a stock contrary to their own beliefs”; or that “these bulletins were a scheme to get rid of worthless stock”; or that the recommendations were made “for the purpose of endeavoring artificially to raise the market so that [respondents] might unload [their] holdings at a profit.” Id., at 608-609. The four dissenting judges pointed out that “[t]he common-law doctrines of fraud and deceit grew up in a business climate very different from that involved in the sale of securities,” and urged a broad remedial construction of the statute which would encompass respondents’ conduct. Id., at 614. We granted certiorari to consider the question of statutory construction because of its importance to the investing public and the financial community. 371 U. S. 967.
The decision in this case turns on whether Congress, in empowering the courts to enjoin any practice which operates “as a fraud or deceit upon any client or prospective client,” intended to require the Commission to establish fraud and deceit “in their technical sense,” including intent to injure and actual injury to clients, or whether Congress intended a broad remedial construction of the Act which would encompass nondisclosure of material facts. For resolution of this issue we consider the history and purpose of the Investment Advisers Act of 1940.
I.
The Investment Advisers Act of 1940 was the last in a series of Acts designed to eliminate certain abuses in the securities industry, abuses which were found to have contributed to the stock market crash of 1929 and the depression of the 1930’s. It was preceded by the Securities Act of 1933, the Securities Exchange Act of 1934, the Public Utility Holding Company Act of 1935, the Trust Indenture Act of 1939, and the Investment Company Act of 1940. A fundamental purpose, common to these statutes, was to substitute a philosophy of full disclosure for the philosophy of caveat emptor and thus to achieve a high standard of business ethics in the securities industry. As we recently said in a related context, “It requires but little appreciation... of what happened in this country during the 1920’s and 1930’s to realize how essential it is that the highest ethical standards prevail” in every facet of the securities industry. Silver v. New York Stock Exchange, 373 U. S. 341, 366.
The Public Utility Holding Company Act of 1935 “authorized and directed” the Securities and Exchange Commission “to make a study of the functions and activities of investment trusts and investment companies....” Pursuant to this mandate, the Commission made an exhaustive study and report which included consideration of investment counsel and investment advisory services. This aspect of the study and report culminated in the Investment Advisers Act of 1940.
The report reflects the attitude — shared by investment advisers and the Commission — that investment advisers could not “completely perform their basic function — furnishing to clients on a personal basis competent, unbiased, and continuous advice regarding the sound management of their investments — unless all conflicts of interest between the investment counsel and the client were removed.” The report stressed that affiliations by investment advisers with investment bankers, or corporations might be "an impediment to a disinterested, objective, or critical attitude toward an investment by clients....”
This concern was not limited to deliberate or conscious impediments to objectivity. Both the advisers and the Commission were well aware that whenever advice to a client might result in financial benefit to the adviser — ■ other than the fee for his advice — “that advice to a client might in some way be tinged with that pecuniary interest [whether consciously or] subconsciously motivated....” The report quoted one leading investment adviser who said that he “would put the emphasis... on subconscious” motivation in such situations. It quoted a member of the Commission staff who suggested that a significant part of the problem was not the existence of a “deliberate intent” to obtain a financial advantage, but rather the existence “subconsciously [of] a prejudice” in favor of one’s own financial interests. The report incorporated the Code of Ethics and Standards of Practice of one of the leading investment counsel associations, which contained the following canon:
“[An investment adviser] should continuously occupy an impartial and disinterested position, as free as humanly possible from the subtle influence of prejudice, conscious or unconscious; he should scrupulously avoid any affiliation, or any act, which subjects his position to challenge in this respect.” (Emphasis added.)
Other canons appended to the report announced the following guiding principles: that compensation for investment advice “should consist exclusively of direct charges to clients for services rendered”; that the adviser should devote his time "exclusively to the performance” of his advisory function; that he should not “share in profits” of his clients; and that he should not “directly or indirectly engage in any activity which may jeopardize [his] ability to render unbiased investment advice.” These canons were adopted “to the end that the quality of services to be rendered by investment counselors may measure up to the high standards which the public has a right to expect and to demand.”
One activity specifically mentioned and condemned by investment advisers who testified before the Commission was “trading by investment counselors for their own account in securities in which their clients were interested....”
This study and report — authorized and directed by statute — culminated in the preparation and introduction by Senator Wagner of the bill which, with some changes, became the Investment Advisers Act of 1940. In its “declaration of policy” the original bill stated that
“Upon the basis of facts disclosed by the record and report of the Securities and Exchange Commission... it is hereby declared that the national public interest and the interest of investors are adversely affected- — -... (4) when the business of investment advisers is so conductéd as to defraud or mislead investors, or to enable such advisers to relieve themselves of their fiduciary obligations to their clients. “It is hereby declared that the policy and purposes of this title, in accordance with which the provisions of this title shall be interpreted, are to mitigate and, so far as is presently practicable to eliminate the abuses enumerated in this section.” S. 3580, 76th Cong., 3d Sess., § 202.
Hearings were then held before Committees of both Houses of Congress. In describing their profession, leading investment advisers emphasized their relationship of “trust and confidence” with their clients and the importance of “strict limitation of [their right] to buy and sell securities in the normal way if there is any chance at all that to do so might seem to operate against the interests of clients and the public.” The president of the Investment Counsel Association of America, the leading investment counsel association, testified that the
“two fundamental principles upon which the pioneers in this new profession undertook to meet the growing need for unbiased investment information and guidance were, first, that they would limit their efforts and activities to the study of investment problems from the investor’s standpoint, not engaging in any other activity, such as security selling or brokerage, which might directly or indirectly bias their investment judgment; and, second, that their remuneration for this work would consist solely of definite, professional fees fully disclosed in advance.”
Although certain changes were made in the bill following the hearings, there is nothing to indicate an intent to alter the fundamental purposes of the legislation. The broad proscription against “any... practice... which operates... as a fraud or deceit upon any client or prospective client” remained in the bill from beginning to end. And the Committee Reports indicate a desire to preserve “the personalized character of the services of investment advisers,” and to eliminate conflicts of interest between the investment adviser and the clients as safeguards both to “unsophisticated investors” and to “bona fide investment counsel.” The Investment Advisers Act of 1940 thus reflects a congressional recognition “of the delicate fiduciary nature of an investment advisory relationship,” as well as a congressional intent to eliminate, or at least to expose, all conflicts of interest which might incline an investment adviser— consciously or unconsciously — ;to render advice which was not disinterested. It would defeat the manifest purpose of the Investment Advisers Act of 1940 for us to hold, therefore, that Congress, in empowering the courts to enjoin any practice which operates “as a fraud or deceit,” intended to require proof of intent to injure and actual injury to clients.
This conclusion moreover, is not in derogation of the common law of fraud, as the District Court and the majority of the Court of Appeals suggested. To the contrary, it finds support in the process by which the courts have adapted the common law of fraud to the commercial transactions of our society. It is true that at common law intent and injury have been deemed essential elements in a damage suit between parties to an arm’s-length transaction. But this is not such an action. This is a suit for a preliminary injunction in which the relief sought is, as the dissenting judges below characterized it, the “mild prophylactic,” 306 F. 2d, at 613, of requiring a fiduciary to disclose to his clients, not all his security holdings, but only his dealings in recommended securities just before and after the issuance of his recommendations.
The content of common-law fraud has not remained static as the courts below seem to have assumed. It has varied, for example, with the nature of the relief sought, the relationship between the parties, and the merchandise in issue. It is not necessary in a suit for equitable or prophylactic relief to establish all the elements required in a suit for monetary damages.
“Law had come to regard fraud... as primarily a tort, and hedged about with stringent requirements, the chief of which was a strong moral, or rather immoral element, while equity regarded it, as it had all along regarded it, as a conveniently comprehensive word for the expression of a lapse from the high standard of conscientiousness that it exacted from any party occupying a certain contractual or fiduciary relation towards another party.”
“Fraud has a broader meaning in equity [than at law] and intention to defraud or to misrepresent is not a necessary element.”
“Fraud, indeed, in the sense of a court of equity properly includes all acts, omissions and conceal-ments which involve a breach of legal or equitable duty, trust, or confidence, justly reposed, and are injurious to another, or by which an undue and unconscientious advantage is taken of another.”
Nor is it necessary in a suit against a fiduciary, which Congress recognized the investment adviser to be, to establish all the elements required in a suit against a party to an arm’s-length transaction. Courts have imposed on a fiduciary an affirmative duty of “utmost good faith, and full and fair disclosure of all material facts,” as well as an affirmative obligation “to employ reasonable care to avoid misleading” his clients. There has also been a growing recognition by common-law courts that the doctrines of fraud and deceit which developed around transactions involving land and other tangible items of wealth are ill-suited to the sale of such intangibles as advice and securities, and that, accordingly, the doctrines must be adapted to the merchandise in issue. The 1909 New York case of Ridgely v. Keene, 134 App. Div. 647, 119 N. Y. Supp. 451, illustrates this continuing development. An investment adviser who, like respondents, published an investment advisory service, agreed, for compensation, to influence his clients to buy shares in a certain security. He did not disclose the agreement to his client but sought “to excuse his conduct by asserting that... he honestly believed, that his subscribers would profit by his advice....” The court, holding that “his belief in the soundness of his advice is wholly immaterial,” declared the act in question “a palpable fraud.”
We cannot assume that Congress, in enacting legislation to prevent fraudulent practices by investment advisers, was unaware of these developments in the common law of fraud. Thus, even if we were to agree with the courts below that Congress had intended, in effect, to codify the common law of fraud in the Investment Advisers. Act of 1940, it would be logical to conclude that Congress codified the common law “remedially” as the courts had adapted it to the prevention of fraudulent securities transactions by fiduciaries, not “technically” as it has traditionally been applied in damage suits between parties to arm’s-length transactions involving land and ordinary chattels.
The foregoing analysis of the judicial treatment of common-law fraud reinforces our conclusion that Congress, in empowering the courts to enjoin any practice which operates “as a fraud or deceit” upon a client, did not intend to require proof of intent to injure and actual injury to the client. Congress intended the Investment Advisers Act of 1940 to be construed like other securities legislation “enacted for the purpose of avoiding frauds,” not technically and restrictively, but flexibly to effectuate its remedial purposes.
II.
We turn now to a consideration of whether the specific conduct here in issue was the type which Congress intended to reach in the Investment Advisers Act of 1940. It is arguable — indeed it was argued by “some investment counsel representatives” who testified before the Commission — that any “trading by investment counselors for their own account in securities in which their clients were interested...” creates a potential conflict of interest which must be eliminated. We need not go that far in this case, since here the Commission seeks only disclosure of a conflict of interests with significantly greater potential for abuse than in the situation described above. An adviser who, like respondents, secretly trades on the market effect of his own recommendation may be motivated — consciously or unconsciously — to recommend a given security not because of its potential for long-run price increase (which would profit the client), but because of its potential for short-run price increase in response to anticipated activity from the recommendation (which would profit the adviser). An investor seeking the advice of a registered investment adviser must, if the legislative purpose is to be served, be permitted to evaluate such overlapping motivations, through appropriate disclosure, in deciding whether an adviser is serving “two masters” or only one, “especially... if one of the masters happens to be economic self-interest.” United States v. Mississippi Valley Co., 364 U. S. 520, 549. Accordingly, we hold that the Investment Advisers Act of 1940 empowers the courts, upon a showing such as that made here, to require an adviser to make full and frank disclosure of his practice of trading on the effect of his recommendations.
III.
Respondents offer three basic arguments against this conclusion. They argue first that Congress could have made, but did not make, failure to disclose material facts unlawful in the Investment Advisers Act of 1940, as it did in the Securities Act of 1933, and that absent specific language, it should not be.assumed that Congress intended to include failure to disclose in its general proscription of any practice which operates as a fraud or deceit. But considering the history and chronology of the statutes, this omission does not seem significant. The Securities Act of 1933 was the first experiment in federal regulation of the securities industry. It was understandable, therefore, for Congress, in declaring certain practices unlawful, to include both a general proscription against fraudulent and deceptive practices and, out of an abundance of caution, a specific proscription against nondisclosure. It soon became clear, however, that the courts, aware of the previously outlined developments in the common law of fraud, were merging the proscription against nondisclosure into the general proscription against fraud, treating the former, in effect, as one variety of the latter. For example, in Securities & Exchange Comm’n v. Torr, 15 F. Supp. 315 (D. C. S. D. N. Y. 1936), rev’d on other grounds, 87 F. 2d 446, Judge Patterson held that suppression of information material to an evaluation of the disinterestedness of investment advice “operated as a deceit on purchasers,” 15 F. Supp., at 317. Later cases also treated nondisclosure as one variety of fraud or deceit. In light of this, and in light of the evident purpose of the Investment Advisers Act of 1940 to substitute a philosophy of disclosure for the philosophy of caveat emptor, we cannot assume that the omission in the 1940 Act of a specific proscription against nondisclosure was intended to limit the application of the antifraud and anti-deceit provisions of the Act so as to render the Commission impotent to enjoin suppression of material facts. The more reasonable assumption, considering what had transpired between 1933 and 1940, is that Congress, in enacting the Investment Advisers Act of 1940 and proscribing any practice which operates “as a fraud or deceit,” deemed a specific proscription against nondisclosure surplusage.
Respondents also argue that the 1960 amendment to the Investment Advisers Act of 1940 justifies a narrow interpretation of the original enactment. The amendment made two significant changes which are relevant here. “Manipulative” practices were added to

Question: What is the issue of the decision?
年. involuntary confession
数. habeas corpus
日. plea bargaining: the constitutionality of and/or the circumstances of its exercise
的. retroactivity (of newly announced or newly enacted constitutional or statutory rights)
月. search and seizure (other than as pertains to vehicles or Crime Control Act)
用. search and seizure, vehicles
成. search and seizure, Crime Control Act
名. contempt of court or congress
时. self-incrimination (other than as pertains to Miranda or immunity from prosecution)
件. Miranda warnings
一. self-incrimination, immunity from prosecution
请. right to counsel (cf. indigents appointment of counsel or inadequate representation)
中. cruel and unusual punishment, death penalty (cf. extra legal jury influence, death penalty)
据. cruel and unusual punishment, non-death penalty (cf. liability, civil rights acts)
码. line-up
不. discovery and inspection (in the context of criminal litigation only, otherwise Freedom of Information Act and related federal or state statutes or regulations)
新. double jeopardy
文. ex post facto (state)
下. extra-legal jury influences: miscellaneous
分. extra-legal jury influences: prejudicial statements or evidence
入. extra-legal jury influences: contact with jurors outside courtroom
人. extra-legal jury influences: jury instructions (not necessarily in criminal cases)
功. extra-legal jury influences: voir dire (not necessarily a criminal case)
上. extra-legal jury influences: prison garb or appearance
户. extra-legal jury influences: jurors and death penalty (cf. cruel and unusual punishment)
为. extra-legal jury influences: pretrial publicity
间. confrontation (right to confront accuser, call and cross-examine witnesses)
号. subconstitutional fair procedure: confession of error
取. subconstitutional fair procedure: conspiracy (cf. Federal Rules of Criminal Procedure: conspiracy)
回. subconstitutional fair procedure: entrapment
在. subconstitutional fair procedure: exhaustion of remedies
页. subconstitutional fair procedure: fugitive from justice
字. subconstitutional fair procedure: presentation, admissibility, or sufficiency of evidence (not necessarily a criminal case)
有. subconstitutional fair procedure: stay of execution
个. subconstitutional fair procedure: timeliness
作. subconstitutional fair procedure: miscellaneous
示. Federal Rules of Criminal Procedure
出. statutory construction of criminal laws: assault
是. statutory construction of criminal laws: bank robbery
失. statutory construction of criminal laws: conspiracy (cf. subconstitutional fair procedure: conspiracy)
表. statutory construction of criminal laws: escape from custody
除. statutory construction of criminal laws: false statements (cf. statutory construction of criminal laws: perjury)
加. statutory construction of criminal laws: financial (other than in fraud or internal revenue)
败. statutory construction of criminal laws: firearms
生. statutory construction of criminal laws: fraud
信. statutory construction of criminal laws: gambling
类. statutory construction of criminal laws: Hobbs Act; i.e., 18 USC 1951
置. statutory construction of criminal laws: immigration (cf. immigration and naturalization)
理. statutory construction of criminal laws: internal revenue (cf. Federal Taxation)
本. statutory construction of criminal laws: Mann Act and related statutes
息. statutory construction of criminal laws: narcotics includes regulation and prohibition of alcohol
行. statutory construction of criminal laws: obstruction of justice
定. statutory construction of criminal laws: perjury (other than as pertains to statutory construction of criminal laws: false statements)
改. statutory construction of criminal laws: Travel Act, 18 USC 1952
市. statutory construction of criminal laws: war crimes
期. statutory construction of criminal laws: sentencing guidelines
以. statutory construction of criminal laws: miscellaneous
修. jury trial (right to, as distinct from extra-legal jury influences)
元. speedy trial
方. miscellaneous criminal procedure (cf. due process, prisoners' rights, comity: criminal procedure)
录. voting
区. Voting Rights Act of 1965, plus amendments
单. ballot access (of candidates and political parties)
位. desegregation (other than as pertains to school desegregation, employment discrimination, and affirmative action)
型. desegregation, schools
法. employment discrimination: on basis of race, age, religion, illegitimacy, national origin, or working conditions.
县. affirmative action
存. slavery or indenture
品. sit-in demonstrations (protests against racial discrimination in places of public accommodation)
前. reapportionment: other than plans governed by the Voting Rights Act
称. debtors' rights
注. deportation (cf. immigration and naturalization)
值. employability of aliens (cf. immigration and naturalization)
输. sex discrimination (excluding sex discrimination in employment)
建. sex discrimination in employment (cf. sex discrimination)
能. Indians (other than pertains to state jurisdiction over)
大. Indians, state jurisdiction over
例. juveniles (cf. rights of illegitimates)
度. poverty law, constitutional
始. poverty law, statutory: welfare benefits, typically under some Social Security Act provision.
到. illegitimates, rights of (cf. juveniles): typically inheritance and survivor's benefits, and paternity suits
面. handicapped, rights of: under Rehabilitation, Americans with Disabilities Act, and related statutes
载. residency requirements: durational, plus discrimination against nonresidents
点. military: draftee, or person subject to induction
密. military: active duty
动. military: veteran
果. immigration and naturalization: permanent residence
图. immigration and naturalization: citizenship
提. immigration and naturalization: loss of citizenship, denaturalization
发. immigration and naturalization: access to public education
式. immigration and naturalization: welfare benefits
国. immigration and naturalization: miscellaneous
登. indigents: appointment of counsel (cf. right to counsel)
错. indigents: inadequate representation by counsel (cf. right to counsel)
者. indigents: payment of fine
认. indigents: costs or filing fees
误. indigents: U.S. Supreme Court docketing fee
接. indigents: transcript
关. indigents: assistance of psychiatrist
重. indigents: miscellaneous
第. liability, civil rights acts (cf. liability, governmental and liability, nongovernmental; cruel and unusual punishment, non-death penalty)
地. miscellaneous civil rights (cf. comity: civil rights)
如. First Amendment, miscellaneous (cf. comity: First Amendment)
设. commercial speech, excluding attorneys
目. libel, defamation: defamation of public officials and public and private persons
开. libel, privacy: true and false light invasions of privacy
事. legislative investigations: concerning internal security only
可. federal or state internal security legislation: Smith, Internal Security, and related federal statutes
要. loyalty oath or non-Communist affidavit (other than bar applicants, government employees, political party, or teacher)
代. loyalty oath: bar applicants (cf. admission to bar, state or federal or U.S. Supreme Court)
小. loyalty oath: government employees
选. loyalty oath: political party
标. loyalty oath: teachers
明. security risks: denial of benefits or dismissal of employees for reasons other than failure to meet loyalty oath requirements
编. conscientious objectors (cf. military draftee or military active duty) to military service
求. campaign spending (cf. governmental corruption):
列. protest demonstrations (other than as pertains to sit-in demonstrations): demonstrations and other forms of protest based on First Amendment guarantees
网. free exercise of religion
万. establishment of religion (other than as pertains to parochiaid:)
最. parochiaid: government aid to religious schools, or religious requirements in public schools
器. obscenity, state (cf. comity: privacy): including the regulation of sexually explicit material under the 21st Amendment
所. obscenity, federal
内. due process: miscellaneous (cf. loyalty oath), the residual code
体. due process: hearing or notice (other than as pertains to government employees or prisoners' rights)
通. due process: hearing, government employees
务. due process: prisoners' rights and defendants' rights
此. due process: impartial decision maker
商. due process: jurisdiction (jurisdiction over non-resident litigants)
序. due process: takings clause, or other non-constitutional governmental taking of property
化. privacy (cf. libel, comity: privacy)
消. abortion: including contraceptives
否. right to die
保. Freedom of Information Act and related federal or state statutes or regulations
使. attorneys' and governmental employees' or officials' fees or compensation or licenses
次. commercial speech, attorneys (cf. commercial speech)
机. admission to a state or federal bar, disbarment, and attorney discipline (cf. loyalty oath: bar applicants)
对. admission to, or disbarment from, Bar of the U.S. Supreme Court
量. arbitration (in the context of labor-management or employer-employee relations) (cf. arbitration)
查. union antitrust: legality of anticompetitive union activity
部. union or closed shop: includes agency shop litigation
性. Fair Labor Standards Act
和. Occupational Safety and Health Act
更. union-union member dispute (except as pertains to union or closed shop)
后. labor-management disputes: bargaining
证. labor-management disputes: employee discharge
题. labor-management disputes: distribution of union literature
确. labor-management disputes: representative election
格. labor-management disputes: antistrike injunction
了. labor-management disputes: jurisdictional dispute
于. labor-management disputes: right to organize
金. labor-management disputes: picketing
公. labor-management disputes: secondary activity
午. labor-management disputes: no-strike clause
円. labor-management disputes: union representatives
片. labor-management disputes: union trust funds (cf. ERISA)
空. labor-management disputes: working conditions
态. labor-management disputes: miscellaneous dispute
管. miscellaneous union
主. antitrust (except in the context of mergers and union antitrust)
天. mergers
自. bankruptcy (except in the context of priority of federal fiscal claims)
我. sufficiency of evidence: typically in the context of a jury's determination of compensation for injury or death
全. election of remedies: legal remedies available to injured persons or things
今. liability, governmental: tort or contract actions by or against government or governmental officials other than defense of criminal actions brought under a civil rights action.
来. liability, other than as in sufficiency of evidence, election of remedies, punitive damages
正. liability, punitive damages
说. Employee Retirement Income Security Act (cf. union trust funds)
意. state or local government tax
送. state and territorial land claims
容. state or local government regulation, especially of business (cf. federal pre-emption of state court jurisdiction, federal pre-emption of state legislation or regulation)
已. federal or state regulation of securities
结. natural resources - environmental protection (cf. national supremacy: natural resources, national supremacy: pollution)
会. corruption, governmental or governmental regulation of other than as in campaign spending
段. zoning: constitutionality of such ordinances, or restrictions on owners' or lessors' use of real property
计. arbitration (other than as pertains to labor-management or employer-employee relations (cf. union arbitration)
源. federal or state consumer protection: typically under the Truth in Lending; Food, Drug and Cosmetic; and Consumer Protection Credit Acts
色. patents and copyrights: patent
時. patents and copyrights: copyright
交. patents and copyrights: trademark
系. patents and copyrights: patentability of computer processes
过. federal or state regulation of transportation regulation: railroad
电. federal and some few state regulations of transportation regulation: boat
询. federal and some few state regulation of transportation regulation:truck, or motor carrier
符. federal and some few state regulation of transportation regulation: pipeline (cf. federal public utilities regulation: gas pipeline)
未. federal and some few state regulation of transportation regulation: airline
程. federal and some few state regulation of public utilities regulation: electric power
常. federal and some few state regulation of public utilities regulation: nuclear power
条. federal and some few state regulation of public utilities regulation: oil producer
当. federal and some few state regulation of public utilities regulation: gas producer
情. federal and some few state regulation of public utilities regulation: gas pipeline (cf. federal transportation regulation: pipeline)
口. federal and some few state regulation of public utilities regulation: radio and television (cf. cable television)
合. federal and some few state regulation of public utilities regulation: cable television (cf. radio and television)
车. federal and some few state regulations of public utilities regulation: telephone or telegraph company
实. miscellaneous economic regulation
组. comity: civil rights
版. comity: criminal procedure
周. comity: First Amendment
址. comity: habeas corpus
记. comity: military
二. comity: obscenity
同. comity: privacy
业. comity: miscellaneous
权. comity primarily removal cases, civil procedure (cf. comity, criminal and First Amendment); deference to foreign judicial tribunals
其. assessment of costs or damages: as part of a court order
进. Federal Rules of Civil Procedure including Supreme Court Rules, application of the Federal Rules of Evidence, Federal Rules of Appellate Procedure in civil litigation, Circuit Court Rules, and state rules and admiralty rules
试. judicial review of administrative agency's or administrative official's actions and procedures
验. mootness (cf. standing to sue: live dispute)
料. venue
传. no merits: writ improvidently granted
述. no merits: dismissed or affirmed for want of a substantial or properly presented federal question, or a nonsuit
集. no merits: dismissed or affirmed for want of jurisdiction (cf. judicial administration: Supreme Court jurisdiction or authority on appeal from federal district courts or courts of appeals)
多. no merits: adequate non-federal grounds for decision
无. no merits: remand to determine basis of state or federal court decision (cf. judicial administration: state law)
员. no merits: miscellaneous
报. standing to sue: adversary parties
他. standing to sue: direct injury
無. standing to sue: legal injury
服. standing to sue: personal injury
线. standing to sue: justiciable question
这. standing to sue: live dispute
制. standing to sue: parens patriae standing
将. standing to sue: statutory standing
处. standing to sue: private or implied cause of action
高. standing to sue: taxpayer's suit
子. standing to sue: miscellaneous
道. judicial administration: jurisdiction or authority of federal district courts or territorial courts
章. judicial administration: jurisdiction or authority of federal courts of appeals
手. judicial administration: Supreme Court jurisdiction or authority on appeal or writ of error, from federal district courts or courts of appeals (cf. 753)
库. judicial administration: Supreme Court jurisdiction or authority on appeal or writ of error, from highest state court
三. judicial administration: jurisdiction or authority of the Court of Claims
从. judicial administration: Supreme Court's original jurisdiction
支. judicial administration: review of non-final order
家. judicial administration: change in state law (cf. no merits: remand to determine basis of state court decision)
长. judicial administration: federal question (cf. no merits: dismissed for want of a substantial or properly presented federal question)
付. judicial administration: ancillary or pendent jurisdiction
秒. judicial administration: extraordinary relief (e.g., mandamus, injunction)
路. judicial administration: certification (cf. objection to reason for denial of certiorari or appeal)
完. judicial administration: resolution of circuit conflict, or conflict between or among other courts
象. judicial administration: objection to reason for denial of certiorari or appeal
则. judicial administration: collateral estoppel or res judicata
现. judicial administration: interpleader
京. judicial administration: untimely filing
转. judicial administration: Act of State doctrine
辑. judicial administration: miscellaneous
限. Supreme Court's certiorari, writ of error, or appeals jurisdiction
力. miscellaneous judicial power, especially diversity jurisdiction
学. federal-state ownership dispute (cf. Submerged Lands Act)
外. federal pre-emption of state court jurisdiction
调. federal pre-emption of state legislation or regulation. cf. state regulation of business. rarely involves union activity. Does not involve constitutional interpretation unless the Court says it does.
项. Submerged Lands Act (cf. federal-state ownership dispute)
北. national supremacy: commodities
工. national supremacy: intergovernmental tax immunity
笑. national supremacy: marital and family relationships and property, including obligation of child support
监. national supremacy: natural resources (cf. natural resources - environmental protection)
任. national supremacy: pollution, air or water (cf. natural resources - environmental protection)
相. national supremacy: public utilities (cf. federal public utilities regulation)
微. national supremacy: state tax (cf. state tax)
册. national supremacy: miscellaneous
联. miscellaneous federalism
平. boundary dispute between states
增. non-real property dispute between states
听. miscellaneous interstate relations conflict
解. incorporation of foreign territories
等. federal taxation, typically under provisions of the Internal Revenue Code
得. federal taxation of gifts, personal, business, or professional expenses
收. priority of federal fiscal claims: over those of the states or private entities
安. miscellaneous federal taxation (cf. national supremacy: state tax)
价. legislative veto
藏. executive authority vis-a-vis congress or the states
命. miscellaneous
应. real property
看. personal property
索. contracts
资. evidence
产. civil procedure
串. torts
布. wills and trusts
原. commercial transactions
Answer:

Answer: 已