Dispute Resolution Statistics


Summary Arbitration Statistics June 2014

 

New Case Filings through June:

2012

2013

2014

2014 vs 2013

2,365

1,897

2,042

8%

 

Number of Cases Closed through June:

2012

2013

2014

2014 vs 2013

2,677

2,352

1,923

-18%

 

Turnaround Time1 (in months) through June:

 

2012

2013

2014

2014 vs 2013

Overall

14.7

14.4

15.1

5%

Hearing Decisions

16.6

17.5

18.7

7%

Simplified Decisions

7.1

7.7

8.2

6%

 

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 June 2014

 

Mediation Cases in Agreement through June:

2012

2013

2014

2013 vs 2012

311

249

223

-10%


Mediation Cases Closed through June:

 

2012

2013

2014

2014 vs 2013

Cases Closed

419

283

287

1%

Percent Settled

77%

78%

82%

 


Turnaround Time (in Days) through June:

2012

2013

2014

2014 vs 2013

118

85

95

12%


 



 

Arbitration Cases Filed 

 

Year

Cases

1999

5,608

2000

5,558

2001

6,915

2002

7,704

2003

8,945

2004

8,201

2005

6,074

2006

4,614

 

Year

Cases

2007

3,238

2008

4,982

2009

7,137

2010

5,680

2011

4,729

2012

4,299

2013

3,714

Through June 2014

2,042

 

Yearly Volume Comparison Chart


 

Arbitration Cases Served by Controversy Involved

 

Type of Controversy1

2010

2011

2012

2013

June 2014

Margin Calls

83

80

68

55

30

Churning

270

236

245

238

105

Unauthorized Trading

397

288

313

260

116

Failure to Supervise

2,372

2,007

1,657

1,480

868

Negligence

2,698

2,249

1,941

1,715

1,021

Omission of Facts

1,941

1,603

1,355

1,243

655

Breach of Contract

2,184

1,904

1,573

1,418

914

Breach of Fiduciary Duty

3,162

2,589

2,216

1,873

1,053

Unsuitability

1,974

1,619

1,354

1,243

679

Misrepresentation

2,601

2,102

1,769

1,527

781


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

2010

2011

2012

2013

June 2014

Corporate Bonds

239

179

124

92

30

Certificates of Deposit

41

31

31

38

21

Mutual Funds

863

652

392

308

151

Options

161

161

151

115

72

Common Stock

862

838

736

561

318

Limited Partnerships

80

104

70

84

48

Annuities

208

172

147

120

55

Preferred Stock

232

197

112

90

22

Variable Annuities

279

212

220

174

50

Derivative Securities

228

54

8

0

0

Auction Rate Securities

149

80

58

31

30


 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

1999

4,767

2000

5,473

2001

5,582

2002

5,957

2003

7,278

2004

9,209

2005

9,043

2006

7,212

Year

Cases

2007

5,345

2008

3,757

2009

4,571

2010

6,241

2011

6,099

2012

4,877

2013

4,498

Through June 2014

1,923


 



 

How Arbitration Cases Close

 

Cases Decided by Arbitrators

2010

% of Cases

2011

% of Cases

2012

% of Cases

2013

% of Cases

June 2014

% of Cases

After Hearing

1,143

19%

1,065

18%

895

19%

792

18%

335

18%

After Review of Documents

258

4%

211

3%

182

4%

236

5%

96

5%

Total

1,401

23%

1,276

21%

1,077

22%

1,028

23%

431

23%

 

Cases Resolved by Other Means

2010

% of Cases

2011

% of Cases

2012

% of Cases

2013

% of Cases

June 2014

% of Cases

Direct Settlement by Parties

3,139

51%

2,998

55%

2,414

50%

2,336

52%

985

52%

Settled Via Mediation

590

10%

594

10%

502

10%

315

7%

163

9%

Withdrawn

621

10%

708

12%

428

9%

482

11%

186

10%

All Others1

377

6%

464

8%

394

8%

297

7%

147

8%

Total

4,727

77%

4,764

79%

3,738

78%

3,430

77%

1,481

77%

 

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

2009

669

21%

 45% (304 cases)

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

218

18%

44% (96 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

62

44% (27 cases)

53

43% (23 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

3,562

Non-Public

2,836

Total

6,398

 

    Last Updated: 7/15/2014