About FINRA Dispute Resolution
Dispute Resolution Statistics
Summary Arbitration Statistics November 2008
|
New Case Filings through November: |
|
2006 |
2007 |
2008 |
2008 Vs 2007 |
|
4,358 |
2,986 |
4,414 |
48% |
|
Number of Cases Closed through November: |
|
2006 |
2007 |
2008 |
2008 Vs 2007 |
|
6,720 |
5,006 |
3,442 |
-31% |
|
Turnaround Time* (in months) through November: |
|
|
2006 |
2007 |
2008 |
2008 Vs 2007 |
|
Overall |
13.8 |
13.8 |
13.1 |
-5% |
|
Hearing Decisions |
16.6 |
15.9 |
15.7 |
-1% |
|
Simplified Decisions |
5.6 |
6.0 |
6.7 |
12% |
|
* The timing of the arbitration process is heavily influenced by Code of Arbitration Procedures time limits, the parties, and the panel. |
Summary Mediation Statistics November 2008
|
Mediation Cases in Agreement through November: |
|
2006 |
2007 |
2008 |
2008 Vs 2007 |
|
909 |
729 |
439 |
-40% |
|
|
|
|
2006 |
2007 |
2008 |
2008 Vs 2007 |
|
Cases Closed |
1,093 |
848 |
629 |
-26% |
|
Percent Settled |
84% |
82% |
75% |
|
|
|
|
2006 |
2007 |
2008 |
2008 Vs 2007 |
|
109 |
130 |
132 |
2% |
Arbitration Cases Filed
|
|
Arbitration Cases Served by Controversy Involved
*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* |
2004 |
2005 |
2006 |
2007 |
YTD 2008 |
|
Corporate Bonds |
188 |
106 |
82 |
71 |
143 |
|
Certificates of Deposit |
20 |
31 |
28 |
16 |
28 |
|
Mutual Funds |
1,221 |
888 |
679 |
395 |
930 |
|
Options |
299 |
153 |
155 |
110 |
130 |
|
Common Stock |
2,557 |
1,348 |
1,257 |
790 |
672 |
|
Limited Partnerships |
36 |
24 |
21 |
19 |
27 |
|
Annuities |
596 |
460 |
446 |
243 |
200 |
|
Variable Annuities** |
|
|
|
|
43 |
|
Derivative Securities** |
|
|
|
|
740 |
|
Auction Rate Securities** |
|
|
|
|
275 |
|
*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. |
Arbitration Cases Closed by Year
|
|
How Arbitration Cases Close
|
Cases Decided by Arbitrators |
2004 |
% of Cases |
2005 |
% of Cases |
2006 |
% of Cases |
2007 |
% of Cases |
Nov-08 |
% of Cases |
|
|
After Hearing |
1,915 |
21% |
1,767 |
20% |
1.265 |
18% |
986 |
19% |
651 |
19% |
|
|
After Review of Documents |
508 |
6% |
355 |
4% |
192 |
3% |
147 |
3% |
160 |
5% |
|
|
Total |
2,423 |
27% |
2,122 |
24% |
1,457 |
21% |
1,133 |
21% |
811 |
24% |
|
|
|
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|
Cases Resolved by Other Means |
2004 |
% of Cases |
2005 |
% of Cases |
2006 |
% of Cases |
2007 |
% of Cases |
Nov-08 |
% of Cases |
|
|
Direct Settlement by Parties |
3,700 |
41% |
3,940 |
44% |
3,503 |
50% |
3,008 |
57% |
1,622 |
47% |
|
|
Settled Via Mediation |
1,201 |
13% |
910 |
10% |
730 |
10% |
476 |
9% |
360 |
10% |
|
|
Withdrawn |
677 |
7% |
806 |
9% |
643 |
9% |
370 |
7% |
397 |
12% |
|
|
All Others* |
1,073 |
12% |
1,127 |
13% |
738 |
10% |
331 |
6% |
251 |
7% |
|
|
Total |
6,651 |
73% |
6,783 |
76% |
5,614 |
79% |
4,185 |
79% |
2,630 |
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 of Customer Claimant Cases Closed |
Percentage 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) |
|
through November 2008* |
427 |
19% |
41% (176 cases) |
* Please note: In 2007, nearly 80 percent of customer cases, closed through settlements or awards, resulted 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 |
2,865 |
|
Public |
3,731 |
|
Total |
6,596 |
