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INVESTMENT CO. INSTITUTE v. CAMP

No. 61.

401 U.S. 617 (1971)

91 S.Ct. 1091

28 L.Ed.2d 367

INVESTMENT COMPANY INSTITUTE ET AL. v. CAMP, COMPTROLLER OF THE CURRENCY, ET AL.

Supreme Court of United States.

Decided April 5, 1971

Attorney(s) appearing for the Case

G. Duane Vieth argued the cause for petitioners in No. 61. With him on the briefs were James F. Fitzpatrick, Melvin Spaeth, and Robert Augenblick. Joseph B. Levin argued the cause for petitioner in No. 59. With him on the briefs was Lloyd J. Derrickson.

Deputy Solicitor General Friedman argued the cause for respondent Camp, Comptroller of the Currency, in No. 61. With him on the brief were Solicitor General Griswold, Assistant Attorney General Ruckelshaus, Richard B. Stone, Alan S. Rosenthal, Leonard Schaitman, and C. Westbrook Murphy. Mr. Friedman, by special leave of Court, argued the cause for the United States as amicus curiae urging affirmance in No. 59. With him on the brief were Solicitor General Griswold and Mr. Stone. Archibald Cox argued the cause for respondent First National City Bank in both cases. With him on the brief was Stephen Ailes.

Robert L. Stern filed a brief for Corporate Fiduciaries Association of Chicago as amicus curiae urging affirmance in both cases.

MR. JUSTICE STEWART delivered the opinion of the Court.

These companion cases involve a double-barreled assault upon the efforts of a national bank to go into the business of operating a mutual investment fund. The petitioners in No. 61 are an association of open-end investment companies and several individual such companies. They brought an action in the United States District Court for the District of Columbia, attacking portions of Regulation 9 issued by the Comptroller...

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