Court Opinion

ID: 9427556
Source: CourtListenerOpinion
Date Created: 2023-08-02 23:21:11.248189+00
Date Added: 2024-06-11T17:23:08.026972
License: Public Domain

Mr. Justice Blackmun,
concurring.
I join the Court’s opinion and its judgment. In so doing, I read that opinion to hold that on remand the Court of Appeals is free to determine and, indeed, should determine what the state law in this area requires, and then whether that state law is consistent with the policies of the Investment Company *487and Investment Advisers Acts. This reading, of course, is at odds with the absolutist position taken by the opinion concurring in the judgment, but it seems to me that a situation could very well exist where state law conflicts with federal policy. The effectuation of that federal policy should not then be foreclosed, as the concurring opinion implies it would be.