SECURITIES INDUSTRIES ASS'N v. CLARKE

No. 87 Civ. 4504 (KTD).

703 F.Supp. 256 (1988)

SECURITIES INDUSTRIES ASSOCIATION, Plaintiff, v. Robert L. CLARKE and Office of the Comptroller of the Currency, Defendants, and Security Pacific National Bank, Intervenor-Defendant.

United States District Court, S.D. New York.

December 19, 1988.


Attorney(s) appearing for the Case

Rogers & Wells, New York City (James B. Weidner, David A. Schulz, Mark Holland, Peter Kimm, Jr., of counsel), for plaintiff.

Rudolph W. Giuliani, U.S. Atty., S.D. N.Y., New York City (Steven E. Obus, Asst. U.S. Atty., Eugene M. Katz, L. Robert Griffin, Rosa M. Koppel, Office of the Comptroller of the Currency, of counsel), for defendants.

Cleary, Gottlieb, Steen & Hamilton, New York City (Robert L. Tortoriello, Richard F. Ziegler, of counsel), Cleary, Gottlieb, Steen & Hamilton, Washington, D.C. (Kenneth L. Bachman, Mitchell S. Dupler, Matthew D. Slater, of counsel) and Security Pacific National Bank, Los Angeles, Cal. (Russell A. Freeman, Maurice K. DeWolff, Dan C. Aardal, of counsel), for intervenor-defendant.

Davis Polk & Wardwell, New York City (Robert B. Fiske, Jr., Bruce W. Nichols, of counsel), for New York Clearing House Ass'n, amicus curiae.


MEMORANDUM & ORDER

KEVIN THOMAS DUFFY, District Judge:

This action is an appeal from a decision of Robert L. Clarke, Comptroller of the Currency ("the Comptroller") interpreting the Glass-Steagall Banking Act of 1933, Pub.L. No. 73-66, 48 Stat. 162 (codified as amended in scattered sections of 12 U.S.C.) ("the Act"). Defendant Comptroller and intervenor defendant Security Pacific National Bank ("SPN Bank") move for dismissal pursuant to Fed.R.Civ.P....

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