Reading Room Document

Litigation Authority of the Comptroller of the Currency

This document is a memorandum opinion for the Comptroller of the Currency regarding the litigation authority under the Securities Exchange Act of 1934. The conclusion reached is that the Comptroller of the Currency may appear in United States courts by its own counsel to carry out its functions under the Securities Exchange Act. The document presents questions for review regarding the delegation of litigation authority for bank securities in connection with the relevant Exchange Act provisions, and whether it remains with the SEC or has been delegated to the Comptroller.

June 6, 1978