Dispute Resolution Statistics


Summary Arbitration Statistics March 2014

 

New Case Filings through March:

2012

2013

2014

2014 vs 2013

1,183

919

1,011

10%

 

Number of Cases Closed through March:

2012

2013

2014

2014 vs 2013

1,375

1,122

946

-16%

 

Turnaround Time1 (in months) through March:

 

2012

2013

2014

2014 vs 2013

Overall

14.3

14.1

15.2

8%

Hearing Decisions

16.5

17.0

18.6

9%

Simplified Decisions

7.2

7.4

8.7

18%

 

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 March 2014

 

Mediation Cases in Agreement through March:

2012

2013

2014

2013 vs 2012

176

132

148

12%


Mediation Cases Closed through March:

 

2012

2013

2014

2014 vs 2013

Cases Closed

207

130

135

4%

Percent Settled

79%

76%

82%

 


Turnaround Time (in Days) through March:

2012

2013

2014

2014 vs 2013

84

72

76

6%


 



 

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 March 2014

1,011

 

Yearly Volume Comparison Chart


 

Arbitration Cases Served by Controversy Involved

 

Type of Controversy1

2010

2011

2012

2013

March 2014

Margin Calls

83

80

68

55

17

Churning

270

236

245

238

43

Unauthorized Trading

397

288

313

260

50

Failure to Supervise

2,372

2,007

1,657

1,480

410

Negligence

2,698

2,249

1,941

1,715

488

Omission of Facts

1,941

1,603

1,355

1,243

314

Breach of Contract

2,184

1,904

1,573

1,418

414

Breach of Fiduciary Duty

3,162

2,589

2,216

1,873

506

Unsuitability

1,974

1,619

1,354

1,243

312

Misrepresentation

2,601

2,102

1,769

1,527

394


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

March 2014

Corporate Bonds

239

179

124

92

16

Certificates of Deposit

41

31

31

38

14

Mutual Funds

863

652

392

308

91

Options

161

161

151

115

37

Common Stock

862

838

736

561

167

Limited Partnerships

80

104

70

84

28

Annuities

208

172

147

120

33

Preferred Stock

232

197

112

90

7

Variable Annuities

279

212

220

174

28

Derivative Securities

228

54

8

0

0

Auction Rate Securities

149

80

58

31

26


 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 March 2014

946


 



 

How Arbitration Cases Close

 

Cases Decided by Arbitrators

2010

% of Cases

2011

% of Cases

2012

% of Cases

2013

% of Cases

March 2014

% of Cases

After Hearing

1,143

19%

1,065

18%

895

19%

792

18%

159

17%

After Review of Documents

258

4%

211

3%

182

4%

236

5%

48

5%

Total

1,401

23%

1,276

21%

1,077

22%

1,028

23%

207

22%

 

Cases Resolved by Other Means

2010

% of Cases

2011

% of Cases

2012

% of Cases

2013

% of Cases

March 2014

% of Cases

Direct Settlement by Parties

3,139

51%

2,998

55%

2,414

50%

2,336

52%

485

52%

Settled Via Mediation

590

10%

594

10%

502

10%

315

7%

85

9%

Withdrawn

621

10%

708

12%

428

9%

482

11%

96

10%

All Others1

377

6%

464

8%

394

8%

297

7%

66

7%

Total

4,727

77%

4,764

79%

3,738

78%

3,430

77%

732

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

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

109

18%

50% (55 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 2012, approximately 78 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

23

48% (11 cases)

33

45% (15 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

3,547

Non-Public

2,828

Total

6,375

 

    Last Updated: 4/15/2014