Dispute Resolution Statistics


Summary Arbitration Statistics October 2009

 

New Case Filings through October:

2007

2008

2009

2009 Vs 2008

2,672

3,971

6,113

54%

 

Number of Cases Closed through October:

2007

2008

2009

2009 Vs 2008

4,561

3,135

3,697

18%

 

Turnaround Time* (in months) through October:

 

2007

2008

2009

2009 Vs 2008

Overall

13.8

13.0

11.5

-12%

Hearing Decisions

15.9

15.8

14.3

-9%

Simplified Decisions

6.1

6.6

6.0

-9%

* 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 2009

 

Mediation Cases in Agreement through October:

2007

2008

2009

2009 Vs 2008

692

409

475

16%


Mediation Cases Closed through October:

 

2007

2008

2009

2009 Vs 2008

Cases Closed

763

553

530

-4%

Percent Settled

81%

76%

85%

 


Turnaround Time (in Days) through October:

2007

2008

2009

2009 Vs 2008

129

128

90

-30%



Arbitration Cases Filed

 

Year

Cases

1994

5,586

1995

6,058

1996

5,631

1997

5,997

1998

4,938

1999

5,608

2000

5,558

2001

6,915
 

Year

Cases

2002

7,704

2003

8,945

2004

8,201

2005

6,074

2006

4,614

2007

3,238

2008

4,982

Through Oct. 2009

6,113

 

Yearly Volume Comparison Chart

 

Arbitration Cases Served by Controversy Involved

 

Type of Controversy*

2005

2006

2007

2008

Oct. - 2009

Margin Calls

78

103

45

64

111

Churning

315

257

133

212

261

Unauthorized Trading

395

242

174

248

409

Failure to Supervise

1,828

1,425

830

1,029

2,261

Negligence

2,225

1,619

891

1,602

2,918

Omission of Facts

1,123

588

275

1,201

2,086

Breach of Contract

1,987

1,397

953

1,658

2,410

Breach of Fiduciary Duty

3,514

2,621

1,616

2,836

3,634

Unsuitability

1,926

1,347

695

1,181

2,127

Misrepresentation

1,826

1,187

739

2,005

2,926

Online Trading

7

8

1

3

0

*Each case can be coded to contain up to four 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 Security*

2005

2006

2007

2008

Oct. - 2009

Corporate Bonds

106

82

71

143

315

Certificates of Deposit

31

28

16

28

58

Mutual Funds

888

679

395

930

1,385

Options

153

155

110

130

230

Common Stock

1,348

1,257

790

672

1,174

Limited Partnerships

24

21

19

27

55

Annuities

460

446

243

200

269

Preferred Stock

 41 35 26 115

425

Variable Annuities**

       47

104

Derivative Securities**

       801

536

Auction Rate Securities**

       299

237


*Each case can be coded to contain up to four security types. Therefore the columns in this table cannot be totaled to determine the number of cases served in a year. 
**Tracking of these statistics began on January 1, 2008.


 

Arbitration Cases Closed by Year

 

Year

Cases

1994

4,484

1995

5,779

1996

6,331

1997

5,880

1998

5,484

1999

4,767

2000

5,473

2001

5,582

Year

Cases

2002

5,957

2003

7,278

2004

9,209

2005

9,043

2006

7,212

2007

5,345

2008

3,757

Through Oct. 2009

3,697



How Arbitration Cases Close

 

Cases Decided by Arbitrators

2005

% of Cases

2006

% of Cases

2007

% of Cases

2008

% of Cases

Oct.
2009

% of Cases

After Hearing

1,767

20%

1.265

18%

986

19%

721

19%

665

18%

After Review of Documents

355

4%

192

3%

147

3%

176

5%

238

6%

Total

2,122

24%

1,457

21%

1,133

21%

897

24%

903

24%

 

Cases Resolved by Other Means

2005

% of Cases

2006

% of Cases

2007

% of Cases

2008

% of Cases

Oct.
2009

% of Cases

Direct Settlement by Parties

3,940

44%

3,503

50%

3,008

57%

1,779

47%

1,725

47%

Settled Via Mediation

910

10%

730

10%

476

9%

384

10%

238

6%

Withdrawn

806

9%

643

9%

370

7%

421

11%

541

15%

All Others*

1,127

13%

738

10%

331

6%

279

7%

300

8%

Total

6,783

76%

5,614

79%

4,185

79%

2,863

76%

2,804

76%

*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 Damages*

2003

1,513

28%

49% (742 cases)

2004

1,894

27%

47% (888 cases)

2005

 1,610

 24%

 43% (687 cases)

2006

1,011

21%

42% (425 cases)

2007

671

21%

37% (245 cases)
 2008*

474

20%

42% (199 cases)
 2009

516

20%

46% (236 cases)

 

* Please note: In 2008, approximately 74 percent of customer claimant cases resulted, through settlements or awards, in monetary or non-monetary recovery for the investor.



Arbitrators by Type


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

Arbitrator Type

Total

Non-Public

2,656

Public

3,416

Total

6,072

 

Last Updated: 11/18/2009