Dispute Resolution Statistics


Summary Arbitration Statistics December 2009

 

New Case Filings through December:

2007

2008

2009

2009 Vs 2008

3,238

4,982

7,137

43%

 

Number of Cases Closed through December:

2007

2008

2009

2009 Vs 2008

5,345

3,757

4,571

22%

 

Turnaround Time* (in months) through December:

 

2007

2008

2009

2009 Vs 2008

Overall

13.9

13.0

11.5

-12%

Hearing Decisions

16.0

15.7

14.0

-11%

Simplified Decisions

6.1

6.8

6.0

-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 December 2009

 

Mediation Cases in Agreement through December:

2007

2008

2009

2009 Vs 2008

769

459

563

23%


Mediation Cases Closed through December:

 

2007

2008

2009

2009 Vs 2008

Cases Closed

905

688

684

-1%

Percent Settled

82%

76%

82%

 


Turnaround Time (in Days) through December:

2007

2008

2009

2009 Vs 2008

130

135

91

-33%



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 Dec. 2009

7,137

 

Yearly Volume Comparison Chart

 

Arbitration Cases Served by Controversy Involved

 

Type of Controversy*

2005

2006

2007

2008

Dec. 2009

Margin Calls

78

103

45

64

128

Churning

315

257

133

212

306

Unauthorized Trading

395

242

174

248

478

Failure to Supervise

1,828

1,425

830

1,029

2,691

Negligence

2,225

1,619

891

1,602

3,405

Omission of Facts

1,123

588

275

1,201

2,453

Breach of Contract

1,987

1,397

953

1,658

2,802

Breach of Fiduciary Duty

3,514

2,621

1,616

2,836

4,206

Unsuitability

1,926

1,347

695

1,181

2,473

Misrepresentation

1,826

1,187

739

2,005

3,408

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

Dec. 2009

Corporate Bonds

106

82

71

163

373

Certificates of Deposit

31

28

16

31

71

Mutual Funds

888

679

395

1,069

1,556

Options

153

155

110

149

275

Common Stock

1,348

1,257

790

773

1,367

Limited Partnerships

24

21

19

33

73

Annuities

460

446

243

236

300

Preferred Stock

 41 35 26 115

481

Variable Annuities**

       47

123

Derivative Securities**

       801

607

Auction Rate Securities**

       299

276


*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 Dec. 2009

4,571



How Arbitration Cases Close

 

Cases Decided by Arbitrators

2005

% of Cases

2006

% of Cases

2007

% of Cases

2008

% of Cases

Dec.
2009

% of Cases

After Hearing

1,767

20%

1.265

18%

986

19%

721

19%

839

18%

After Review of Documents

355

4%

192

3%

147

3%

176

5%

310

7%

Total

2,122

24%

1,457

21%

1,133

21%

897

24%

1,149

25%

 

Cases Resolved by Other Means

2005

% of Cases

2006

% of Cases

2007

% of Cases

2008

% of Cases

Dec.
2009

% of Cases

Direct Settlement by Parties

3,940

44%

3,503

50%

3,008

57%

1,779

47%

2,170

47%

Settled Via Mediation

910

10%

730

10%

476

9%

384

10%

322

7%

Withdrawn

806

9%

643

9%

370

7%

421

11%

598

13%

All Others*

1,127

13%

738

10%

331

6%

279

7%

358

8%

Total

6,783

76%

5,614

79%

4,185

79%

2,863

76%

3,448

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**

669

21%

45% (304 cases)

 

* Percentage of customer claimant award cases reflects only instances in which investors as claimants recovered monetary damages or non-monetary relief. 

** Please note: In 2009, approximately 70 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

2,696

Public

3,457

Total

6,153

 

Last Updated: 1/19/2010