Dispute Resolution Statistics

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Arbitration Statistics Through August

Year New Case Filings Cases Closed Open Cases Turnaround Time (in months)
2016 Total: 2,508
Customer: 1,770 (71%)
Intra-Industry: 738 (29%)
2,349 4,813 Overall: 14.8
Hearing Decisions: 17.0
Simplified Decisions: 7.5
2015 Total: 2,234
Customer: 1,498 (67%)
Intra-Industry: 736 (33%)
2,346 4,513 Overall: 14.3
Hearing Decisions: 17.2
Simplified Decisions: 8.3
2014 Total: 2,660
Customer: 1,826 (69%)
Intra-Industry: 834 (31%)
2,593 4,727 Overall: 14.9
Hearing Decisions: 18.3
Simplified Decisions: 8.1
2016 vs 2015 Total: +12% 
Customer: +18% 
Intra-Industry: 0% 
0%  +7%  Overall: +3%
Hearing Decisions: -1%
Simplified Decisions: -10%

Historical Statistics for Cases Filed and Closed

Year Cases Filed Cases Closed
2016 2,508 2,349
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 August 1,403 1,061 1,376 1,220 1,469
Year-End 1,403 1,807 2,064 1,802 2,078
Negligence Through August 1,307 1,004 1,348 1,168 1,331
Year-End 1,307 1,667 1,977 1,714 1,903
Failure to Supervise Through August 1,275 920 1,148 1,006 1,156
Year-End 1,275 1,554 1,733 1,476 1,650
Misrepresentation Through August 1,162 874 1,050 1,030 1,234
Year-End 1,162 1,499 1,593 1,507 1,745
Suitability Through August 1,102 762 931 863 941
Year-End 1,102 1,364 1,401 1,243 1,352
Breach of Contract Through August 1,091 838 1,195 924 1,057
Year-End 1,091 1,444 1,755 1,390 1,513
Omission of Facts Through August 963 704 901 850 954
Year-End 963 1,216 1,384 1,242 1,345
Fraud* Through August 898 605 2 -- --
Year-End 898 1,089 41 -- --
Unauthorized Trading Through August 242 168 160 174 218
Year-End 242 264 239 255 312
Violation of Blue Sky Laws* Through August 222 149 -- -- --
Year-End 222 236 -- -- --
Churning Through August 174 157 141 161 178
Year-End 174 247 213 236 245
Manipulation Through August 173 112 126 105 129
Year-End 173 208 173 161 186
Margin Calls Through August 51 57 44 34 49
Year-End 51 97 83 55 68
Errors-charges Through August 37 36 46 49 45
Year-End 37 64 71 75 75
Transfer Through August 25 28 34 40 33
Year-End 25 45 56 59 52

* 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 August 464 329 395 357 465
Year-End 464 610 572 547 669
Municipal Bond Funds Through August 375 267 437 23 34
Year-End 375 607 684 66 49
Municipal Bonds Through August 320 241 328 28 56
Year-End 320 559 553 67 77
Mutual Funds Through August 220 160 197 216 279
Year-End 220 373 369 296 387
Limited Partnerships Through August 126 51 63 61 47
Year-End 126 79 82 84 68
Real Estate Investment Trust Through August 129 131 156 230 196
Year-End 129 191 232 299 299
Corporate Bonds Through August 108 56 40 52 90
Year-End 108 194 66 86 117
Exchange-Traded Funds Through August 99 81 71 72 77
Year-End 99 127 120 99 122
Options Through August 80 83 93 76 103
Year-End 80 128 143 109 145
Annuities Through August 79 55 76 80 95
Year-End 79 81 105 111 143
Variable Annuities Through August 75 78 80 109 159
Year-End 75 104 116 160 217
Private Equities Through August 75 62 52 76 93
Year-End 75 92 77 108 129
Government Securities Through August 70 45 18 16 23
Year-End 70 169 31 25 28
Preferred Stock Through August 52 27 24 50 77
Year-End 52 142 44 86 109
Structured Products Through August 37 23 19 38 87
Year-End 37 25 21 52 109

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 August 282 276 342 429 591
Year-End 282 401 476 632 802
Breach of Contract Through August 256 272 266 333 490
Year-End 256 373 347 465 652
Compensation Through August 98 90 117 114 240
Year-End 98 140 146 155 316
Libel/Slander/Defamation Through August 82 80 73 63 72
Year-End 82 115 99 101 109
Wrongful Termination Through August 80 85 62 92 72
Year-End 80 123 79 117 110
Libel or Slander on Form U-5 Through August 77 87 77 72 60
Year-End 77 119 110 99 106
Discrimination* Through August 37 39 34 43 30
Year-End 37 54 43 53 49
Commissions Through August 36 49 61 62 171
Year-End 36 73 77 85 213
Raiding Disputes Through August 20 28 31 16 30
Year-End 20 40 39 21 41
Breach of Fiduciary Duty Through August 11 17 41 54 115
Year-End 11 28 52 78 143
Indemnification Through August 10 6 13 13 11
Year-End 10 12 16 17 17
Misrepresentation Through August 9 14 27 19 16
Year-End 9 17 33 24 24
Failure to Supervise Through August 9 5 12 6 7
Year-End 9 11 14 10 10
Negligence Through August 9 11 17 9 38
Year-End 9 21 25 11 43
Fraud** Through August 7 9 -- -- --
Year-End 7 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 409 (18%) 646 (19%) 683 (18%) 792 (18%) 895 (19%)
After Review of Documents 100 (4%) 182 (5%) 208 (5%) 236 (5%) 182 (4%)
Total 509 (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 1,166 (50%) 1,716 (50%) 1,942 (51%) 2,336 (52%) 2,414 (50%)
Settled via Mediation 244 (11%) 306 (9%) 329 (9%) 315 (7%) 502 (10%)
Withdrawn 223 (10%) 317 (9%) 358 (9%) 482 (11%) 428 (9%)
All Others 175 (8%) 294 (8%) 290 (8%) 297 (7%) 394 (8%)
Total 1,808 (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 271 17% 41% (112 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 105 43% (45 cases) 54 39% (21 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 3,136
Non-Public 3,769
Total 6,905

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 August

Year Cases in Agreement Cases Closed (Percent Settled) Turnaround Time (in days)
2016 403 414 (76%) 108
2015 339 312 (80%) 115
2014 293 372 (83%) 98
2016 vs 2015 +19%  +33%  -4%