Lowe v. SEC
United States Supreme Court
472 U.S. 181 (1985)
Relevant factsFree
After the SEC (defendant) revoked Christopher Lowe's (plaintiff's) registration as an investment adviser in 1981, Lowe began publishing an impersonal investment newsletter with general strategies and suggestions distributed to the general public; the SEC sued, arguing Lowe was providing investment advice as an unregistered adviser in violation of section 203(a) of the Investment Advisers Act. The court of appeals ruled for the SEC, and the Supreme Court granted certiorari.
IssueFree
Whether the author of a publication providing financial advice is required to register as an investment adviser.
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