Dispute Resolution Statistics


Summary Arbitration Statistics January 2015

 

New Case Filings through January:

2013

2014

2015

2015 vs 2014

322

309

245

-21%

 

Number of Cases Closed through January:

2013

2014

2015

2015 vs 2014

382

331

258

-22%

 

Turnaround Time1 (in months) through January:

 

2013

2014

2015

2015 vs 2014

Overall

14.3

15.6

14.2

-9%

Hearing Decisions

17.9

20.2

20.0

-1%

Simplified Decisions

7.8

7.8

7.6

-3%

 

1 The timing of the arbitration process is heavily influenced by Code of Arbitration Procedures time limits, the parties, and the panel.

 

 


 

 

Summary Mediation Statistics January 2015

 

Mediation Cases in Agreement through January:

2013

2014

2015

2015 vs 2014

40

42

43

2%


Mediation Cases Closed through January:

 

2013

2014

2015

2015 vs 2014

Cases Closed

47

33

46

39%

Percent Settled

74%

81%

91%

 


Turnaround Time (in Days) through January:

2013

2014

2015

2015 vs 2014

69

73

94

29%


 



 

Arbitration Cases Filed 

 

Year

Cases

2000

5,558

2001

6,915

2002

7,704

2003

8,945

2004

8,201

2005

6,074

2006

4,614

2007

3,238

 

Year

Cases

2008

4,982

2009

7,137

2010

5,680

2011

4,729

2012

4,299

2013

3,714

2014

3,822

January 2015

245

 

Yearly Volume Comparison Chart


 

Arbitration Cases Served by Controversy Involved

 

Type of Controversy1

2011

2012

2013

2014

January 2015

Margin Calls

80

68

55

83

7

Churning

236

245

238

212

21

Unauthorized Trading

288

313

260

242

12

Failure to Supervise

2,007

1,657

1,480

1,742

102

Negligence

2,249

1,941

1,715

1,993

111

Omission of Facts

1,603

1,355

1,243

1,394

78

Breach of Contract

1,904

1,573

1,418

1,779

98

Breach of Fiduciary Duty

2,589

2,216

1,873

2,106

120

Unsuitability

1,619

1,354

1,243

1,396

85

Misrepresentation

2,102

1,796

1,527

1,619

100


1 Each case can be coded to contain multiple controversy types. Therefore the columns in this table cannot be totaled to determine the number of cases served in a year.

 


 

Security Types Involved in Arbitration Cases

 

Type of Security1

2011

2012

2013

2014

January 2015

Corporate Bonds

179

124

92

70

7

Certificates of Deposit

31

31

38

39

2

Mutual Funds

652

392

308

378

17

Options

161

151

115

149

17

Common Stock

838

736

561

599

39

Limited Partnerships

104

70

84

86

7

Annuities

172

147

120

113

9

Preferred Stock

197

112

90

47

4

Variable Annuities

212

220

174

120

2

Derivative Securities

54

8

0

0

0

Auction Rate Securities

80

58

31

35

0


 1 Each case can be coded to contain multiple security types. Therefore the columns in this table cannot be totaled to determine the number of cases served in a year.

 


 

Arbitration Cases Closed by Year

 

Year

Cases

2000

5,473

2001

5,582

2002

5,957

2003

7,278

2004

9,209

2005

9,043

2006

7,212

2007

5,345

Year

Cases

2008

3,757

2009

4,571

2010

6,241

2011

6,099

2012

4,877

2013

4,498

2014

3,838

2015

258


 



 

How Arbitration Cases Close

 

Cases Decided by Arbitrators

2011

% of Cases

2012

% of Cases

2013

% of Cases

2014

% of Cases

January 2015

% of Cases

After Hearing

1,065

18%

895

19%

792

18%

683

18%

41

16%

After Review of Documents

211

3%

182

4%

236

5%

208

5%

15

6%

Total

1,276

21%

1,077

23%

1,028

23%

891

23%

56

22%

 

Cases Resolved by Other Means

2011

% of Cases

2012

% of Cases

2013

% of Cases

2014

% of Cases

January 2015

% of Cases

Direct Settlement by Parties

2,998

50%

2,414

50%

2,336

52%

1,942

51%

122

48%

Settled Via Mediation

594

10%

502

10%

315

7%

329

9%

25

10%

Withdrawn

708

12%

428

9%

482

11%

358

9%

20

8%

All Others1

464

8%

394

8%

297

7%

290

8%

32

13%

Total

4,764

79%

3,738

78%

3,430

77%

2,919

77%

199

78%

 

1 All Other reasons for closed includes cases closed by: Stipulated Award, Bankruptcy of Critical Party; Uncured Deficient Claim; Forum Denied; Stayed by Court Action, etc. Note cases counted as closed in this report do not include those cases that closed and were then reopened.

 


 

Results of Customer Claimant Arbitration Award Cases

 

Year Decided

All Customer Claimant Cases Decided (Hearings & Paper)

Percentage Decided of All Customer Claimant Cases Closed

Percentage (and Number) of Cases Where Customer Awarded Damages1

2010

882

20%

47% (415 cases)

2011

670

16%

44% (297 cases)

 2012

570

18%

45% (255 cases)

 20132

499

18%

42% (212 cases)

2014

465

19%

38% (177 cases)

YTD 2015

35

21%

 49% (17 cases)

 

1 Percentage of customer claimant award cases reflects only instances in which investors as claimants recovered monetary damages or non-monetary relief. 

2 In 2013, approximately 77 percent of customer claimant cases resulted, through settlements or awards, in monetary or non-monetary recovery for the investor.

 



Comparison of Results of All-Public Panels and Majority Public Panels in Customer Claimant Cases

 

Year Decided1

Cases Decided by All-Public Panels2

Percentage (and Number) of Cases Decided by 3 Public Arbitrators Where Customer Awarded Damages

Cases Decided by Majority-Public Panels3

Percentage (and Number) of Cases Decided by 2 Public Arbitrators and 1 Non-Public Arbitrator Where Customer Awarded Damages

2011

13

54% (7 cases)

17

18% (3 cases)

2012

99

49% (49 cases)

111

33% (37 cases)

2013

128

43% (55 cases)

107

44% (47 cases)

2014

135

44% (59 cases)

104

38% (39 cases)

YTD 2015

11

73% (8 cases)

3

33% (1 cases)

 

1 An all-public option for arbitration panels was implemented on Feb 1, 2011. Statistics reflect cases heard with awards from that point forward. 

2 Three public arbitrators.

3 Two public arbitrators and one non-public arbitrator.

 



Arbitrators by Type
 

This report lists all available arbitrators by Non-Public and Public Type.

 

Arbitrator Type

Total

Public

3,518

Non-Public

2,841

Total

6,359