Investment Company Institute v. Camp

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 of the *619Currency,1 on the ground that this Regulation, in purporting to authorize banks to establish and operate collective investment funds, sought to permit activities…