Dispute Resolution Statistics

ON THIS PAGE

Arbitration Statistics Through May

Year New Case Filings Cases Closed Open Cases Turnaround Time (in months)
2016 Total: 1,486
Customer: 1,050 (71%)
Intra-Industry: 436 (29%)
1,475 4,647 Overall: 14.9
Hearing Decisions: 17.1
Simplified Decisions: 8.1
2015 Total: 1,243
Customer: 811 (65%)
Intra-Industry: 432 (35%)
1,486 4,392 Overall: 14.4
Hearing Decisions: 17.3
Simplified Decisions: 8.5
2014 Total: 1,691
Customer: 1,149 (68%)
Intra-Industry: 542 (32%)
1,595 4,759 Overall: 15.1
Hearing Decisions: 18.7
Simplified Decisions: 8.1
2016 vs 2015 Total: +20% 
Customer: +29% 
Intra-Industry: +1% 
-1%  +6%  Overall: +3%
Hearing Decisions: -1%
Simplified Decisions: -5%

Historical Statistics for Cases Filed and Closed

Year Cases Filed Cases Closed
2016 1,486 1,475
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 May 806 604 854 748 899
Year-End 806 1,807 2,064 1,802 2,078
Negligence Through May 749 589 846 713 813
Year-End 749 1,667 1,977 1,714 1,903
Failure to Supervise Through May 737 524 726 613 702
Year-End 737 1,554 1,733 1,476 1,650
Misrepresentation Through May 656 495 639 633 769
Year-End 656 1,499 1,593 1,507 1,745
Suitability Through May 633 424 559 512 571
Year-End 633 1,364 1,401 1,243 1,352
Breach of Contract Through May 621 477 746 552 643
Year-End 621 1,444 1,755 1,390 1,513
Omission of Facts Through May 533 404 537 507 592
Year-End 533 1,216 1,384 1,242 1,345
Fraud* Through May 510 323 1 -- --
Year-End 510 1,089 41 -- --
Unauthorized Trading Through May 141 97 90 113 124
Year-End 141 264 239 255 312
Violation of Blue Sky Laws* Through May 137 74 -- -- --
Year-End 137 236 -- -- --
Churning Through May 118 91 81 90 102
Year-End 118 247 213 236 245
Manipulation Through May 109 56 73 61 76
Year-End 109 208 173 161 186
Margin Calls Through May 30 32 27 21 22
Year-End 30 97 83 55 68
Failure to Execute Through May 23 27 34 24 30
Year-End 23 49 69 61 76
Errors-charges Through May 17 28 28 25 26
Year-End 17 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 May 269 202 259 228 271
Year-End 269 610 572 547 669
Municipal Bond Funds Through May 217 124 248 14 21
Year-End 217 607 684 66 49
Municipal Bonds Through May 182 129 176 17 38
Year-End 182 559 553 67 77
Mutual Funds Through May 112 86 126 139 185
Year-End 112 373 369 296 387
Real Estate Investment Trust Through May 80 80 106 124 109
Year-End 80 191 232 299 299
Exchange-Traded Funds Through May 63 57 38 50 47
Year-End 63 127 120 99 122
Corporate Bonds Through May 58 29 24 31 58
Year-End 58 194 66 86 117
Limited Partnerships Through May 57 36 42 41 32
Year-End 57 79 82 84 68
Annuities Through May 56 30 41 48 57
Year-End 56 81 105 111 143
Options Through May 51 48 54 47 58
Year-End 51 128 143 109 145
Private Equities Through May 48 39 34 46 61
Year-End 48 92 77 108 129
Variable Annuities Through May 45 42 42 61 100
Year-End 45 104 116 160 217
Structured Products Through May 23 17 11 22 57
Year-End 23 25 21 52 109
Preferred Stock Through May 19 16 14 38 47
Year-End 19 142 44 86 109
Unit Investment Trust Through May 19 3 9 5 7
Year-End 19 13 26 11 15

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 May 164 153 209 290 372
Year-End 164 401 476 632 802
Breach of Contract Through May 159 156 164 215 333
Year-End 159 373 347 465 652
Compensation Through May 55 58 71 76 177
Year-End 55 140 146 155 316
Libel/Slander/Defamation Through May 48 43 43 31 39
Year-End 48 115 99 101 109
Libel or Slander on Form U-5 Through May 48 50 54 43 30
Year-End 48 119 110 99 106
Wrongful Termination Through May 44 51 42 54 41
Year-End 44 123 79 117 110
Discrimination* Through May 25 25 26 18 22
Year-End 25 54 43 53 49
Commissions Through May 22 35 37 39 122
Year-End 22 73 77 85 213
Raiding Disputes Through May 16 18 14 11 21
Year-End 16 40 39 21 41
Breach of Fiduciary Duty Through May 9 11 25 37 81
Year-End 9 28 52 78 143
Retaliation Through May 5 4 7 7 3
Year-End 5 10 15 11 6
Negligence Through May 4 9 13 7 31
Year-End 4 21 25 11 43
Indemnification Through May 4 4 8 8 7
Year-End 4 12 16 17 17
Fraud** Through May 3 7 -- -- --
Year-End 3 13 -- -- --
Partnerships Through May 3 4 3 3 4
Year-End 3 12 5 6 9

* 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 247 (17%) 646 (19%) 683 (18%) 792 (18%) 895 (19%)
After Review of Documents 58 (4%) 182 (5%) 208 (5%) 236 (5%) 182 (4%)
Total 305 (21%) 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 739 (51%) 1,716 (50%) 1,942 (51%) 2,336 (52%) 2,414 (50%)
Settled via Mediation 160 (11%) 306 (9%) 329 (9%) 315 (7%) 502 (10%)
Withdrawn 128 (9%) 317 (9%) 358 (9%) 482 (11%) 428 (9%)
All Others 112 (8%) 294 (8%) 290 (8%) 297 (7%) 394 (8%)
Total 1,139 (79%) 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 154 15% 42% (65 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 68 35% (24 cases) 31 42% (13 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 3,070
Non-Public 3,692
Total 6,762

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 May

Year Cases in Agreement Cases Closed (Percent Settled) Turnaround Time (in days)
2016 285 266 (73%) 109
2015 199 196 (82%) 79
2014 203 238 (82%) 92
2016 vs 2015 +43%  +46%  +38%