JUSTICE SCALIA delivered the opinion of the Court.
This case concerns the interpretation of § 318 of the Federal Power Act, as added, 49 Stat. 863, 16 U. S. C. § 825q, entitled "Conflict of jurisdiction," which governs certain overlapping responsibilities of the Federal Energy Regulatory Commission (FERC) and the Securities and Exchange Commission (SEC) in the regulation of power companies under the Public Utility Act of 1935, 49 Stat. 803.
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