Dispute Resolution Statistics


Summary Arbitration Statistics October 2014

 

New Case Filings through October:

2012

2013

2014

2014 vs 2013

3,705

3,157

3,288

4%

 

Number of Cases Closed through October:

2012

2013

2014

2014 vs 2013

4,100

3,836

3,244

-15%

 

Turnaround Time1 (in months) through October:

 

2012

2013

2014

2014 vs 2013

Overall

14.5

14.2

14.7

4%

Hearing Decisions

16.7

17.0

18.1

6%

Simplified Decisions

7.2

7.3

7.8

7%

 

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 October 2014

 

Mediation Cases in Agreement through October:

2012

2013

2014

2014 vs 2013

494

402

359

-11%


Mediation Cases Closed through October:

 

2012

2013

2014

2014 vs 2013

Cases Closed

643

440

458

4%

Percent Settled

79%

81%

82%

 


Turnaround Time (in Days) through October:

2012

2013

2014

2014 vs 2013

109

85

101

19%


 



 

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 October 2014

3,288

 

Yearly Volume Comparison Chart


 

Arbitration Cases Served by Controversy Involved

 

Type of Controversy1

2010

2011

2012

2013

October 2014

Margin Calls

83

80

68

55

69

Churning

270

236

245

238

176

Unauthorized Trading

397

288

313

260

204

Failure to Supervise

2,372

2,007

1,657

1,480

1,491

Negligence

2,698

2,249

1,941

1,715

1,711

Omission of Facts

1,941

1,603

1,355

1,243

1,180

Breach of Contract

2,184

1,904

1,573

1,418

1,528

Breach of Fiduciary Duty

3,162

2,589

2,216

1,873

1,799

Unsuitability

1,974

1,619

1,354

1,243

1,187

Misrepresentation

2,601

2,102

1,769

1,527

1,374


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

October 2014

Corporate Bonds

239

179

124

92

58

Certificates of Deposit

41

31

31

38

34

Mutual Funds

863

652

392

308

326

Options

161

161

151

115

123

Common Stock

862

838

736

561

505

Limited Partnerships

80

104

70

84

76

Annuities

208

172

147

120

98

Preferred Stock

232

197

112

90

41

Variable Annuities

279

212

220

174

100

Derivative Securities

228

54

8

0

0

Auction Rate Securities

149

80

58

31

35


 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 October 2014

3,244


 



 

How Arbitration Cases Close

 

Cases Decided by Arbitrators

2010

% of Cases

2011

% of Cases

2012

% of Cases

2013

% of Cases

October 2014

% of Cases

After Hearing

1,143

19%

1,065

18%

895

19%

792

18%

564

18%

After Review of Documents

258

4%

211

3%

182

4%

236

5%

182

6%

Total

1,401

23%

1,276

21%

1,077

22%

1,028

23%

746

23%

 

Cases Resolved by Other Means

2010

% of Cases

2011

% of Cases

2012

% of Cases

2013

% of Cases

October 2014

% of Cases

Direct Settlement by Parties

3,139

51%

2,998

55%

2,414

50%

2,336

52%

1,646

51%

Settled Via Mediation

590

10%

594

10%

502

10%

315

7%

278

9%

Withdrawn

621

10%

708

12%

428

9%

482

11%

303

9%

All Others1

377

6%

464

8%

394

8%

297

7%

247

8%

Total

4,727

77%

4,764

79%

3,738

78%

3,430

77%

2,474

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

387

19%

39% (152 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

108

45% (49 cases)

84

38% (32 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

3,545

Non-Public

2,836

Total

6,381

 

    Last Updated: 11/17/2014