SIFMA has submitted an Amicus “Friend of the Court” Brief.

Court:

Court of Appeal of the State of California, Second Appellate District

Amicus Issue:
Whether Wells Fargo entered into a fiduciary relationship with their customer; whether Wells Fargo breached their alleged fiduciary duty by failing to advise the customer about a standard arbitration clause in the brokerage agreement; and whether the standard securities industry arbitration clause is unconscionable.
Counsel of Record:

Munger, Tolles & Olson LLP
355 South Grand Avenue
35th Floor
Los Angeles, CA 90071

George M. Garvey

Jeffrey Y. Wu
Other Amici on SIFMA’s Brief:

U.S. Chamber of Commerce

American Bankers Association

ABA Securities Association

The Clearing House Association

Financial Services Roundtable