Dispute Resolution Statistics

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Arbitration Statistics Through July

Year New Case Filings Cases Closed Open Cases Turnaround Time (in months)
2016 Total: 2,146
Customer: 1,536 (72%)
Intra-Industry: 610 (28%)
2,056 4,718 Overall: 14.9
Hearing Decisions: 17.1
Simplified Decisions: 7.7
2015 Total: 1,942
Customer: 1,292 (67%)
Intra-Industry: 650 (33%)
2,084 4,517 Overall: 14.4
Hearing Decisions: 17.3
Simplified Decisions: 8.3
2014 Total: 2,384
Customer: 1,630 (68%)
Intra-Industry: 754 (32%)
2,275 4,787 Overall: 14.9
Hearing Decisions: 18.5
Simplified Decisions: 8.1
2016 vs 2015 Total: +11% 
Customer: +19% 
Intra-Industry: -6% 
-1%  +4%  Overall: +3%
Hearing Decisions: -1%
Simplified Decisions: -7%

Historical Statistics for Cases Filed and Closed

Year Cases Filed Cases Closed
2016 2,146 2,056
2015 3,435 3,489
2014 3,822 3,838
2013 3,714 4,498
2012 4,299 4,877
2011 4,729 6,099
Year Cases Filed Cases Closed
2010 5,680 6,241
2009 7,137 4,571
2008 4,982 3,757
2007 3,238 5,345
2006 4,614 7,212
2005 6,074 9,043
Year Cases Filed Cases Closed
2004 8,201 9,209
2003 8,945 7,278
2002 7,704 5,957
2001 6,915 5,582

Top 15 Controversy Types in Customer Arbitrations

A single arbitration case may include multiple controversy types.

Controversy   2016 Cases served 2015 2014 2013 2012
Breach of Fiduciary Duty Through July 1,205 928 1,221 1,054 1,266
Year-End 1,205 1,807 2,064 1,802 2,078
Negligence Through July 1,121 889 1,203 1,010 1,138
Year-End 1,121 1,667 1,977 1,714 1,903
Failure to Supervise Through July 1,095 807 1,019 870 999
Year-End 1,095 1,554 1,733 1,476 1,650
Misrepresentation Through July 985 758 925 891 1,063
Year-End 985 1,499 1,593 1,507 1,745
Suitability Through July 943 657 822 745 815
Year-End 943 1,364 1,401 1,243 1,352
Breach of Contract Through July 932 736 1,066 791 897
Year-End 932 1,444 1,755 1,390 1,513
Omission of Facts Through July 810 618 785 737 828
Year-End 810 1,216 1,384 1,242 1,345
Fraud* Through July 767 514 2 -- --
Year-End 767 1,089 41 -- --
Unauthorized Trading Through July 209 145 134 155 187
Year-End 209 264 239 255 312
Violation of Blue Sky Laws* Through July 197 129 -- -- --
Year-End 197 236 -- -- --
Churning Through July 157 141 121 139 152
Year-End 157 247 213 236 245
Manipulation Through July 148 101 104 90 114
Year-End 148 208 173 161 186
Margin Calls Through July 42 52 36 33 43
Year-End 42 97 83 55 68
Failure to Execute Through July 33 38 38 33 42
Year-End 33 49 69 61 76
Errors-charges Through July 30 34 39 42 39
Year-End 30 64 71 75 75

* These categories were not tracked for the years in which no data appears.

Top 15 Security Types in Customer Arbitrations

A single arbitration case may include multiple security types.

Security   2016 Cases served 2015 2014 2013 2012
Common Stock Through July 408 294 351 314 404
Year-End 408 610 572 547 669
Municipal Bond Funds Through July 316 226 380 19 27
Year-End 316 607 684 66 49
Municipal Bonds Through July 262 210 286 21 53
Year-End 262 559 553 67 77
Mutual Funds Through July 164 142 173 192 243
Year-End 164 373 369 296 387
Real Estate Investment Trust Through July 111 113 139 191 163
Year-End 111 191 232 299 299
Limited Partnerships Through July 109 50 55 54 40
Year-End 109 79 82 84 68
Corporate Bonds Through July 91 49 38 43 77
Year-End 91 194 66 86 117
Exchange-Traded Funds Through July 83 74 59 65 65
Year-End 83 127 120 99 122
Options Through July 73 77 78 68 88
Year-End 73 128 143 109 145
Annuities Through July 70 46 62 68 79
Year-End 70 81 105 111 143
Private Equities Through July 67 57 46 65 80
Year-End 67 92 77 108 129
Variable Annuities Through July 63 71 67 93 145
Year-End 63 104 116 160 217
Preferred Stock Through July 44 24 22 45 70
Year-End 44 142 44 86 109
Structured Products Through July 31 22 17 32 77
Year-End 31 25 21 52 109
Government Securities Through July 31 35 15 15 21
Year-End 31 169 31 25 28

Top 15 Controversy Types in Intra-Industry Arbitrations

A single arbitration case may include multiple controversy types.

CONTROVERSY   2016 CASES SERVED 2015 2014 2013 2012
Promissory Notes Through July 236 228 305 380 528
Year-End 236 401 476 632 802
Breach of Contract Through July 216 236 235 289 441
Year-End 216 373 347 465 652
Compensation Through July 85 79 102 103 222
Year-End 85 140 146 155 316
Libel/Slander/Defamation Through July 71 68 63 51 60
Year-End 71 115 99 101 109
Libel or Slander on Form U-5 Through July 69 70 74 62 52
Year-End 69 119 110 99 106
Wrongful Termination Through July 68 71 57 78 66
Year-End 68 123 79 117 110
Discrimination* Through July 36 33 32 38 28
Year-End 36 54 43 53 49
Commissions Through July 32 44 55 53 156
Year-End 32 73 77 85 213
Raiding Disputes Through July 18 27 25 14 28
Year-End 18 40 39 21 41
Breach of Fiduciary Duty Through July 9 15 39 46 105
Year-End 9 28 52 78 143
Retaliation Through July 7 5 11 9 3
Year-End 7 10 15 11 6
Indemnification Through July 6 6 12 10 10
Year-End 6 12 16 17 17
Negligence Through July 6 11 16 8 37
Year-End 6 21 25 11 43
Partnerships Through July 6 7 4 5 4
Year-End 6 12 5 6 9
Fraud** Through July 4 8 -- -- --
Year-End 4 13 -- -- --

* This category combines the following discrimination controversy types: disability, age, gender, race, sexual orientation, national origin, religion, employment discrimination, and sexual harassment. This number does not represent the number of cases served, as one case may have multiple discrimination claims.

** These categories were not tracked for the years in which no data appears.

How Arbitration Cases Close

Cases Decided by Arbitrators 2016 (% of Cases) 2015 2014 2013 2012
After Hearing 358 (18%) 646 (19%) 683 (18%) 792 (18%) 895 (19%)
After Review of Documents 85 (4%) 182 (5%) 208 (5%) 236 (5%) 182 (4%)
Total 443 (22%) 828 (24%) 891 (23%) 1,028 (23%) 1,077 (22%)
Cases Resolved by Other Means 2016 (% of Cases) 2015 2014 2013 2012
Direct Settlement by Parties 1,026 (51%) 1,716 (50%) 1,942 (51%) 2,336 (52%) 2,414 (50%)
Settled via Mediation 218 (11%) 306 (9%) 329 (9%) 315 (7%) 502 (10%)
Withdrawn 188 (9%) 317 (9%) 358 (9%) 482 (11%) 428 (9%)
All Others 150 (7%) 294 (8%) 290 (8%) 297 (7%) 394 (8%)
Total 1,582 (78%) 2,633 (76%) 2,919 (77%) 3,430 (77%) 3,738 (78%)

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
2016 236 17% 43% (101 cases)
2015 455 20% 42% (190 cases)
2014 465 19% 38% (177 cases)
2013 499 18% 42% (212 cases)
2012 570 18% 45% (255 cases)
2011 670 16% 44% (297 cases)

Results of All-Public Panels and Majority Public Panels in Customer Cases

Year Decided Cases Decided by All-Public Panels Percentage (and Number) of Cases Decided by 3 Public Arbitrators where Customer Awarded Damages Cases Decided by Majority-Public Panels Percentage (and Number) of Cases Decided by 2 Public Arbitrators and 1 Non-Public Arbitrator where Customer Awarded Damages
2016 96 42% (40 cases) 47 40% (19 cases)
2015 163 47% (77 cases) 84 45% (38 cases)
2014 135 44% (59 cases) 104 38% (39 cases)
2013 128 43% (55 cases) 107 44% (47 cases)
2012 99 49% (49 cases) 111 33% (37 cases)

Arbitrators by Type and Location

Arbitrator Type Total
Public 3,129
Non-Public 3,751
Total 6,880

Click on each hearing location below to view the number of cases, public arbitrators, non-public arbitrators and public chairs* or view in table format.

* We expand arbitrator pools in select hearing locations as case demand requires.

Mediation Statistics Through July

Year Cases in Agreement Cases Closed (Percent Settled) Turnaround Time (in days)
2016 354 352 (75%) 103
2015 302 291 (81%) 80
2014 263 328 (82%) 97
2016 vs 2015 +17%  +21%  +29%