Dispute Resolution Statistics

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Arbitration Statistics Through June

Year New Case Filings Cases Closed Open Cases Turnaround Time (in months)
2018 Total: 2,272
Customer: 1,409 (62%)
Intra-Industry: 863 (38%)
1,894 4,849 Overall: 14.2
Hearing Decisions: 16.0
Simplified Decisions: 6.9
2017 Total: 1,685
Customer: 1,108 (66%)
Intra-Industry: 577 (34%)
1,984 4,415 Overall: 14.4
Hearing Decisions: 16.2
Simplified Decisions: 6.8
2016 Total: 1,831
Customer: 1,295 (71%)
Intra-Industry: 536 (29%)
1,745 4,712 Overall: 14.8
Hearing Decisions: 17.2
Simplified Decisions: 7.8
2018 vs 2017 Total: +35% 
Customer: +27% 
Intra-Industry: +50% 
-5%  +10%  Overall: -1%
Hearing Decisions: -1%
Simplified Decisions: +1%

Historical Statistics for Cases Filed and Closed 

Year Cases Filed Cases Closed
2018 2,272 1,894
2017 3,456 3,735
2016 3,681 3,635
2015 3,435 3,489
2014 3,822 3,838
2013 3,714 4,498
Year Cases Filed Cases Closed
2012 4,299 4,877
2011 4,729 6,099
2010 5,680 6,241
2009 7,137 4,571
2008 4,982 3,757
2007 3,238 5,345
Year Cases Filed Cases Closed
2006 4,614 7,212
2005 6,074 9,043
2004 8,201 9,209
2003 8,945 7,278
2002 7,704 5,957

Top 15 Controversy Types in Customer Arbitrations

A single arbitration case may include multiple controversy types.

Controversy   2018 Cases served 2017 2016 2015 2014
Breach of Fiduciary Duty Through June 1,183 920 1,004 763 1,026
Year-End -- 1,899 2,002 1,807 2,064
Suitability Through June 1,021 774 788 535 680
Year-End -- 1,606 1,606 1,364 1,401
Misrepresentation Through June 984 771 814 623 765
Year-End -- 1,663 1,670 1,499 1,593
Negligence Through June 973 816 936 739 1,012
Year-End -- 1,662 1,862 1,677 1,977
Failure to Supervise Through June 959 794 917 665 865
Year-End -- 1,621 1,802 1,554 1,733
Fraud Through June 864 639 646 417 2
Year-End -- 1,389 1,301 1,089 41
Omission of Facts Through June 852 684 675 511 648
Year-End -- 1,493 1,394 1,216 1,384
Breach of Contract Through June 830 641 771 601 900
Year-End -- 1,318 1,495 1,444 1,755
Violation of Blue Sky Laws* Through June 397 228 166 104 --
Year-End -- 547 344 236 --
Unauthorized Trading Through June 128 146 173 123 114
Year-End -- 263 362 264 239
Manipulation Through June 128 138 137 83 84
Year-End -- 299 236 208 173
Elder Abuse* Through June 117 -- -- -- --
Year-End -- 61 -- -- --
Churning Through June 102 127 144 120 106
Year-End -- 219 254 247 213
Errors-charges Through June 45 23 23 30 30
Year-End -- 66 56 64 71
Execution Error Through June 39 23 47 51 75
Year-End -- 53 85 96 153

* 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.

Common Stock Municipal Bond Funds Municipal Bonds Mutual Funds Real Estate Investment Trust Limited Partnerships Government Securities Exchange-Traded Funds Variable Annuities Options Corporate Bonds Private Equities Annuities 401(k)** Preferred Stock

Security   2018 Cases served 2017 2016 2015 2014
Municipal Bonds Through June 462 209 214 168 230
Year-End -- 565 433 559 553
Municipal Bond Funds Through June 446 205 263 172 308
Year-End -- 558 480 607 684
Mutual Funds Through June 341 193 133 105 145
Year-End -- 447 352 373 369
Common Stock Through June 324 297 335 251 301
Year-End -- 604 646 610 572
Government Securities Through June 222 69 16 19 12
Year-End -- 229 96 169 31
Exchange-Traded Funds Through June 104 74 72 66 45
Year-End -- 131 133 127 120
Options Through June 103 63 61 65 66
Year-End -- 127 124 128 143
Real Estate Investment Trust Through June 91 103 93 93 123
Year-End -- 177 184 191 232
Limited Partnerships Through June 77 98 75 41 45
Year-End -- 183 199 79 82
Corporate Bonds Through June 70 57 66 34 27
Year-End -- 119 154 194 66
Private Equities Through June 54 69 60 46 37
Year-End -- 111 114 92 77
Variable Annuities Through June 51 73 51 57 48
Year-End -- 129 115 104 116
Annuities Through June 51 58 64 39 50
Year-End -- 115 127 81 105
401(k)* Through June 45 38 2 -- --
Year-End -- 69 27 -- --
Structured Products Through June 41 21 27 18 13
Year-End -- 45 57 25 21

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

Top 15 Controversy Types in Intra-Industry Arbitrations

A single arbitration case may include multiple controversy types.

CONTROVERSY   2018 CASES SERVED 2017 2016 2015 2014
Breach of Contract Through June 177 203 195 200 200
Year-End -- 403 389 373 347
Promissory Notes Through June 135 138 204 192 258
Year-End -- 296 401 401 476
Libel, Slander, or Defamation Through June 90 51 62 57 51
Year-End -- 117 83 115 99
Compensation Through June 79 77 73 74 88
Year-End -- 161 163 140 146
Libel or Slander on Form U-5 Through June 77 64 59 61 63
Year-End -- 136 124 119 110
Wrongful Termination Through June 65 59 57 51 47
Year-End -- 116 127 123 79
Suitability Through June 53 12 0 1 2
Year-End -- 59 15 1 2
Misrepresentation Through June 42 12 5 11 22
Year-End -- 54 21 17 33
Commissions Through June 42 56 29 39 46
Year-End -- 103 60 73 77
Breach of Fiduciary Duty Through June 25 17 9 13 32
Year-End -- 52 18 28 52
Discrimination or Harassment* Through June 24 16 32 29 27
Year-End -- 37 58 54 43
Negligence Through June 21 8 5 10 15
Year-End -- 25 17 21 25
Raiding Disputes Through June 18 14 16 24 22
Year-End -- 33 42 42 39
Fraud Through June 13 7 3 7 0
Year-End -- 26 11 13 1
Indemnification Through June 8 10 6 6 11
Year-End -- 25 14 12 16

* 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.

How Arbitration Cases Close

Cases Decided by Arbitrators 2018 (% of Cases) 2017 2016 2015 2014
After Hearing 266 (14%) 512 (14%) 593 (16%) 646 (19%) 683 (18%)
After Review of Documents 60 (3%) 135 (4%) 157 (4%) 182 (5%) 208 (5%)
Total 326 (17%) 647 (18%) 750 (21%) 828 (24%) 891 (23%)
Cases Resolved by Other Means 2018 (% of Cases) 2017 2016 2015 2014
Direct Settlement by Parties 980 (53%) 1,964 (53%) 1,812 (50%) 1,716 (50%) 1,942 (51%)
Settled via Mediation 244 (13%) 493 (13%) 433 (12%) 306 (9%) 329 (9%)
Withdrawn 175 (9%) 348 (9%) 341 (9%) 317 (9%) 358 (9%)
All Others 140 (8%) 240 (7%) 275 (8%) 294 (8%) 290 (8%)
Total 1,539 (83%) 3,045 (82%) 2,861 (79%) 2,633 (76%) 2,919 (77%)

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
2018 187 15% 41% (76 cases)
2017 352 14% 43% (151 cases)
2016 389 16% 41% (158 cases)
2015 455 20% 42% (190 cases)
2014 465 19% 38% (177 cases)
2013 499 18% 42% (212 cases)

Result of Customer Claimant Arbitration Award Cases (Paper Only)

Year Decided Customer Claimant Cases Decided (Paper Only) Paper Customer Claimant Cases Where Customer Awarded Damages Customer Claimant Not Awarded Damages Percentage of Customer Award Paper Cases
2018 41 13 28 32%
2017 80 29 51 36%
2016 117 44 73 38%
2015 136 45 91 33%
2014 160 49 111 31%
2013 122 45 77 37%

Result of Customer Claimant Arbitration Award Cases (Hearing Only)

Year Decided Customer Claimant Cases Decided (Hearing Only) Hearing Customer Claimant Cases Where Customer Awarded Damages Hearing Customer Claimant Not Awarded Damages Percentage of Customer Award Hearing Cases
2018 146 63 83 43%
2017 272 122 150 45%
2016 272 114 158 42%
2015 319 145 174 45%
2014 305 128 177 42%
2013 377 167 210 44%

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
2018 81 43% (35 cases) 29 45% (13 cases)
2017 137 48% (66 cases) 71 37% (26 cases)
2016 145 43% (63 cases) 72 36% (26 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)

Arbitrators by Type and Location

Arbitrator Type Total
Public 3,416
Non-Public 4,111
Total 7,527

Number of Cases and Arbitrators* per Hearing Location Through June

Click on each hearing location below to view the number of cases and a breakdown of available arbitrators by type. View in table format.

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

* Arbitrators can serve in multiple hearing locations, thus, these figures cannot be totaled to produce the overall number of arbitrators on the roster.
** These figures include the arbitrators designated on the Local Public Chair list.
*** These figures include the arbitrators designated on the Non-Local Public Chair list.
**** On 7/30/18, an interim update was made to correctly reflect the number of local public chairs.

Special Arbitrator Roster

Arbitrator Pool Name Public Chairpersons Public Arbitrators Non-Public Arbitrators
Puerto Rico Bond Fund 251 743 733

Mediation Statistics Through June

Year Cases in Agreement Cases Closed (Percent Settled) Turnaround Time (in days)
2018 270 365 (77%) 126
2017 355 383 (85%) 105
2016 330 310 (75%) 104
2018 vs 2017 -24%  -5%  +20%