About FINRA Dispute Resolution
Dispute Resolution Statistics
Summary Arbitration Statistics May 2009
|
New Case Filings through May: |
|
2007 |
2008 |
2009 |
2009 Vs 2008 |
|
1,398 |
1,711 |
3,163 |
85% |
|
Number of Cases Closed through May: |
|
2007 |
2008 |
2009 |
2009 Vs 2008 |
|
2,332 |
1,676 |
1,707 |
2% |
|
Turnaround Time* (in months) through May: |
|
|
2007 |
2008 |
2009 |
2009 Vs 2008 |
|
Overall |
13.6 |
13.5 |
11.9 |
-12% |
|
Hearing Decisions |
16.1 |
16.3 |
14.9 |
-9% |
|
Simplified Decisions |
6.5 |
6.3 |
6.4 |
2% |
|
* The timing of the arbitration process is heavily influenced by Code of Arbitration Procedures time limits, the parties, and the panel. |
Summary Mediation Statistics May 2009
|
Mediation Cases in Agreement through May: |
|
2007 |
2008 |
2009 |
2009 Vs 2008 |
|
377 |
222 |
187 |
-16% |
|
|
|
|
2007 |
2008 |
2009 |
2009 Vs 2008 |
|
Cases Closed |
391 |
308 |
215 |
-30% |
|
Percent Settled |
81% |
71% |
84% |
|
|
|
|
2007 |
2008 |
2009 |
2009 Vs 2008 |
|
120 |
128 |
100 |
-22% |
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* |
2005 |
2006 |
2007 |
2008 |
May - 2009 |
|
Corporate Bonds |
106 |
82 |
71 |
143 |
168 |
|
Certificates of Deposit |
31 |
28 |
16 |
28 |
27 |
|
Mutual Funds |
888 |
679 |
395 |
930 |
665 |
|
Options |
153 |
155 |
110 |
130 |
117 |
|
Common Stock |
1,348 |
1,257 |
790 |
672 |
550 |
|
Limited Partnerships |
24 |
21 |
19 |
27 |
27 |
|
Annuities |
460 |
446 |
243 |
200 |
122 |
|
Variable Annuities** |
|
|
|
47 |
38 |
|
Derivative Securities** |
|
|
|
801 |
324 |
|
Auction Rate Securities** |
|
|
|
299 |
115 |
|
*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 |
2005 |
% of Cases |
2006 |
% of Cases |
2007 |
% of Cases |
2008 |
% of Cases |
May |
% of Cases |
|
|
After Hearing |
1,767 |
20% |
1.265 |
18% |
986 |
19% |
721 |
19% |
308 |
18% |
|
|
After Review of Documents |
355 |
4% |
192 |
3% |
147 |
3% |
176 |
5% |
118 |
7% |
|
|
Total |
2,122 |
24% |
1,457 |
21% |
1,133 |
21% |
897 |
24% |
426 |
25% |
|
|
|
|||||||||||
|
Cases Resolved by Other Means |
2005 |
% of Cases |
2006 |
% of Cases |
2007 |
% of Cases |
2008 |
% of Cases |
May |
% of Cases |
|
|
Direct Settlement by Parties |
3,940 |
44% |
3,503 |
50% |
3,008 |
57% |
1,779 |
47% |
766 |
45% |
|
|
Settled Via Mediation |
910 |
10% |
730 |
10% |
476 |
9% |
384 |
10% |
97 |
6% |
|
|
Withdrawn |
806 |
9% |
643 |
9% |
370 |
7% |
421 |
11% |
277 |
16% |
|
|
All Others* |
1,127 |
13% |
738 |
10% |
331 |
6% |
279 |
7% |
146 |
9% |
|
|
Total |
6,783 |
76% |
5,614 |
79% |
4,185 |
79% |
2,863 |
76% |
1,286 |
75% |
|
|
*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 |
232 |
20% |
47% (109 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 |
2,671 |
|
Public |
3,485 |
|
Total |
6,156 |
