"We are called upon in this case to decide whether under the Investment Advisers Act of 1940 [1] 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."
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wikisource:Securities_and_Exchange_Commission_v._Capital_Gains_Research_Bureau_Inc/Opinion_of_the_Court (Argued: Oct. 21, 1963. --- Decided: Dec 9, 1963)
https://en.wikiquote.org/wiki/Capital_gain
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Capital gain
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