Dispute Resolution Statistics

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Arbitration Statistics Through August

Year New Case Filings Cases Closed Open Cases Turnaround Time (in months)
2017 Total: 2,286
Customer: 1,511 (66%)
Intra-Industry: 775 (34%)
2,552 4,463 Overall: 14.6
Hearing Decisions: 17.1
Simplified Decisions: 6.7
2016 Total: 2,507
Customer: 1,765 (70%)
Intra-Industry: 742 (30%)
2,329 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 4,517 Overall: 14.3
Hearing Decisions: 17.2
Simplified Decisions: 8.3
2017 vs 2016 Total: -9% 
Customer: -14% 
Intra-Industry: +4% 
+10%  -7%  Overall: -1%
Hearing Decisions: +1%
Simplified Decisions: -11%

Historical Statistics for Cases Filed and Closed

Year Cases Filed Cases Closed
2017 2,286 2,552
2016 3,681 3,635
2015 3,435 3,489
2014 3,822 3,838
2013 3,714 4,498
2012 4,299 4,877
Year Cases Filed Cases Closed
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
2006 4,614 7,212
Year Cases Filed Cases Closed
2005 6,074 9,043
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   2017 Cases served 2016 2015 2014 2013
Breach of Fiduciary Duty Through August 1,268 1,406 1,061 1,376 1,220
Year-End -- 2,002 1,807 2,064 1,802
Negligence Through August 1,122 1,307 1,004 1,348 1,168
Year-End -- 1,862 1,677 1,977 1,714
Failure to Supervise Through August 1,094 1,275 920 1,148 1,006
Year-End -- 1,802 1,554 1,733 1,476
Misrepresentation Through August 1,080 1,162 874 1,050 1,030
Year-End -- 1,670 1,499 1,593 1,507
Suitability Through August 1,072 1,102 762 931 863
Year-End -- 1,606 1,364 1,401 1,243
Omission of Facts Through August 973 963 704 901 850
Year-End -- 1,394 1,216 1,384 1,242
Fraud* Through August 905 898 605 -- --
Year-End -- 1,301 1,089 41 --
Breach of Contract Through August 883 1,091 838 1,195 924
Year-End -- 1,495 1,444 1,755 1,390
Violation of Blue Sky Laws* Through August 342 222 149 -- --
Year-End -- 344 236 -- --
Manipulation Through August 206 173 112 126 105
Year-End -- 236 208 173 161
Unauthorized Trading Through August 194 242 168 160 174
Year-End -- 362 264 239 255
Churning Through August 176 174 157 141 161
Year-End -- 254 247 213 236
Margin Calls Through August 44 51 57 44 34
Year-End -- 84 97 83 55
Errors-charges Through August 43 37 36 46 49
Year-End -- 56 64 71 75
Execution Error Through August 38 68 62 106 106
Year-End -- 85 89 146 133

* 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   2017 Cases served 2016 2015 2014 2013
Common Stock Through August 413 464 329 395 357
Year-End -- 646 610 572 547
Municipal Bonds Through August 317 320 241 328 28
Year-End -- 433 559 553 67
Municipal Bond Funds Through August 317 375 267 437 23
Year-End -- 480 607 684 66
Mutual Funds Through August 272 220 160 197 216
Year-End -- 352 373 369 296
Real Estate Investment Trust Through August 134 123 131 156 230
Year-End -- 184 191 232 299
Limited Partnerships Through August 127 126 51 63 61
Year-End -- 199 79 82 84
Exchange-Traded Funds Through August 108 99 81 71 72
Year-End -- 133 127 120 99
Government Securities Through August 108 70 45 18 16
Year-End -- 96 169 31 25
Variable Annuities Through August 91 75 78 80 109
Year-End -- 115 104 116 160
Private Equities Through August 86 75 62 52 76
Year-End -- 114 92 77 108
Corporate Bonds Through August 83 108 56 40 52
Year-End -- 154 194 66 86
Options Through August 81 80 83 93 76
Year-End -- 124 128 143 109
Annuities Through August 78 79 55 76 80
Year-End -- 127 81 105 111
401(k)* Through August 52 7 -- -- --
Year-End -- 27 -- -- --
Preferred Stock Through August 35 52 27 24 50
Year-End -- 74 142 44 86

* 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   2017 CASES SERVED 2016 2015 2014 2013
Breach of Contract Through August 271 256 272 266 333
Year-End -- 389 373 347 465
Promissory Notes Through August 186 282 276 342 429
Year-End -- 401 401 476 632
Compensation Through August 109 98 90 117 114
Year-End -- 163 140 146 155
Libel or Slander on Form U-5 Through August 92 77 87 77 72
Year-End -- 124 119 110 99
Wrongful Termination Through August 82 80 85 62 92
Year-End -- 127 123 79 117
Commissions Through August 73 36 49 61 62
Year-End -- 60 73 77 85
Libel, Slander, or Defamation Through August 73 82 80 73 63
Year-End -- 124 115 99 101
Clearing Disputes Through August 39 8 2 3 1
Year-End -- 43 6 4 1
Breach of Fiduciary Duty Through August 28 11 17 41 54
Year-End -- 18 28 52 78
Suitability Through August 25 3 1 2 2
Year-End -- 15 1 2 3
Misrepresentation Through August 22 9 14 27 19
Year-End -- 21 17 33 24
Discrimination or Harassment** Through August 22 37 39 34 43
Year-End -- 58 54 43 53
Raiding Disputes Through August 22 20 28 31 16
Year-End -- 42 40 39 21
Indemnification Through August 15 10 6 13 13
Year-End -- 14 12 16 17
Unauthotized Trading Through August 13 3 1 1 1
Year-End -- 10 2 2 4

* 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 2017 (% of Cases) 2016 2015 2014 2013
After Hearing 340 (13%) 593 (16%) 646 (19%) 683 (18%) 792 (18%)
After Review of Documents 89 (4%) 157 (4%) 182 (5%) 208 (5%) 236 (5%)
Total 429 (17%) 750 (21%) 828 (24%) 891 (23%) 1,028 (23%)
Cases Resolved by Other Means 2017 (% of Cases) 2016 2015 2014 2013
Direct Settlement by Parties 1,339 (53%) 1,812 (50%) 1,716 (50%) 1,942 (51%) 2,336 (52%)
Settled via Mediation 327 (13%) 433 (12%) 306 (9%) 329 (9%) 315 (7%)
Withdrawn 238 (9%) 341 (9%) 317 (9%) 358 (9%) 482 (11%)
All Others 187 (7%) 275 (8%) 294 (8%) 290 (8%) 297 (7%)
Total 2,091 (83%) 2,861 (79%) 2,633 (76%) 2,919 (77%) 3,430 (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
2017 233 13% 41% (96 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)
2012 570 18% 45% (255 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
2017 97 51% (49 cases) 43 28% (12 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 3,292
Non-Public 3,871
Total 7,163

Number of Cases and Arbitrators* per Hearing Location Through August

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.

Special Arbitrator Roster

Arbitrator Pool Name Public Chairpersons Public Arbitrators Non-Public Arbitrators
Puerto Rico Bond Fund 258 696 669

Mediation Statistics Through August

Year Cases in Agreement Cases Closed (Percent Settled) Turnaround Time (in days)
2017 424 499 (83%) 104
2016 403 414 (76%) 108
2015 339 312 (80%) 113
2017 vs 2016 +5%  +21%  -4%