Massachusetts Financial Services, Inc. v. Securities Investor Protection Corp.

OPINION

TAURO, District Judge.

This is an action in which Massachusetts Financial Services, Inc. (M.F.S.) is seeking a declaratory judgment on the question of whether it is a member of the federally-established Securities Investor Protection Corporation (S.I.P.C.). It also seeks to recover $5,368 paid to S.I.P.C. in response to S.I.P.C.’s mandatory assessment of M.F.S. for calendar years 1972 and 1973. 1

Subject matter jurisdiction over both the declaratory and damage claims is based on section 27 of the Securities and Exchange Act of 1934, 15 U.S.C. § 78aa, as incorporated into the 1970…