Dispute Resolution Statistics

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Arbitration Statistics Through June

Year New Case Filings Cases Closed Open Cases Turnaround Time (in months)
2016 Total: 1,830
Customer: 1,296 (71%)
Intra-Industry: 534 (29%)
1,760 4,712 Overall: 14.8
Hearing Decisions: 17.2
Simplified Decisions: 7.8
2015 Total: 1,529
Customer: 999 (65%)
Intra-Industry: 530 (35%)
1,807 4,381 Overall: 14.4
Hearing Decisions: 17.2
Simplified Decisions: 8.4
2014 Total: 2,040
Customer: 1,391 (68%)
Intra-Industry: 649 (32%)
1,925 4,780 Overall: 15.1
Hearing Decisions: 18.7
Simplified Decisions: 8.2
2016 vs 2015 Total: +20% 
Customer: +30% 
Intra-Industry: +1% 
-3%  +8%  Overall: +3%
Hearing Decisions: 0%
Simplified Decisions: -7%

Historical Statistics for Cases Filed and Closed

Year Cases Filed Cases Closed
2016 1,830 1,760
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 June 1,004 763 1,026 908 1,115
Year-End 1,004 1,807 2,064 1,802 2,078
Negligence Through June 936 739 1,012 870 1,001
Year-End 936 1,667 1,977 1,714 1,903
Failure to Supervise Through June 917 665 865 754 870
Year-End 917 1,554 1,733 1,476 1,650
Misrepresentation Through June 814 623 765 773 932
Year-End 814 1,499 1,593 1,507 1,745
Suitability Through June 788 535 680 640 709
Year-End 788 1,364 1,401 1,243 1,352
Breach of Contract Through June 711 601 900 681 794
Year-End 711 1,444 1,755 1,390 1,513
Omission of Facts Through June 675 511 648 629 721
Year-End 675 1,216 1,384 1,242 1,345
Fraud* Through June 646 417 2 -- --
Year-End 646 1,089 41 -- --
Unauthorized Trading Through June 173 123 114 133 156
Year-End 173 264 239 255 312
Violation of Blue Sky Laws* Through June 166 104 -- -- --
Year-End 166 236 -- -- --
Churning Through June 144 120 106 118 122
Year-End 144 247 213 236 245
Manipulation Through June 137 83 84 79 98
Year-End 137 208 173 161 186
Margin Calls Through June 39 46 30 28 32
Year-End 39 97 83 55 68
Failure to Execute Through June 28 33 36 31 37
Year-End 28 49 69 61 76
Errors-charges Through June 23 30 30 36 32
Year-End 23 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 June 335 251 301 280 349
Year-End 335 610 572 547 669
Municipal Bond Funds Through June 263 172 308 18 25
Year-End 263 607 684 66 49
Municipal Bonds Through June 214 168 230 21 46
Year-End 214 559 553 67 77
Mutual Funds Through June 133 105 145 178 220
Year-End 133 373 369 296 387
Real Estate Investment Trust Through June 93 93 123 165 142
Year-End 93 191 232 299 299
Limited Partnerships Through June 75 41 45 47 36
Year-End 75 79 82 84 68
Exchange-Traded Funds Through June 72 66 45 54 56
Year-End 72 127 120 99 122
Corporate Bonds Through June 66 34 27 37 69
Year-End 66 194 66 86 117
Annuities Through June 64 39 50 58 72
Year-End 64 81 105 111 143
Options Through June 61 65 66 59 72
Year-End 61 128 143 109 145
Private Equities Through June 60 46 37 55 74
Year-End 60 92 77 108 129
Variable Annuities Through June 51 57 48 77 125
Year-End 51 104 116 160 217
Structured Products Through June 27 18 13 26 68
Year-End 27 25 21 52 109
Preferred Stock Through June 23 17 21 41 60
Year-End 23 142 44 86 109
Unit Investment Trust Through June 20 3 10 7 7
Year-End 20 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 June 204 192 258 337 464
Year-End 204 401 476 632 802
Breach of Contract Through June 195 200 200 259 399
Year-End 195 373 347 465 652
Compensation Through June 73 74 88 91 205
Year-End 73 140 146 155 316
Libel/Slander/Defamation Through June 62 57 51 43 51
Year-End 62 115 99 101 109
Libel or Slander on Form U-5 Through June 59 61 63 53 42
Year-End 59 119 110 99 106
Wrongful Termination Through June 57 61 47 67 56
Year-End 57 123 79 117 110
Discrimination* Through June 32 29 27 28 26
Year-End 32 54 43 53 49
Commissions Through June 29 39 46 44 144
Year-End 29 73 77 85 213
Raiding Disputes Through June 16 24 22 13 25
Year-End 16 40 39 21 41
Breach of Fiduciary Duty Through June 9 13 32 44 96
Year-End 9 28 52 78 143
Retaliation Through June 7 4 7 8 3
Year-End 7 10 15 11 6
Indemnification Through June 6 6 11 8 8
Year-End 6 12 16 17 17
Negligence Through June 5 10 15 8 34
Year-End 5 21 25 11 43
Partnerships Through June 5 5 4 4 4
Year-End 5 12 5 6 9
Fraud** Through June 3 7 -- -- --
Year-End 3 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 307 (18%) 646 (19%) 683 (18%) 792 (18%) 895 (19%)
After Review of Documents 70 (4%) 182 (5%) 208 (5%) 236 (5%) 182 (4%)
Total 377 (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 882 (51%) 1,716 (50%) 1,942 (51%) 2,336 (52%) 2,414 (50%)
Settled via Mediation 187 (11%) 306 (9%) 329 (9%) 315 (7%) 502 (10%)
Withdrawn 155 (9%) 317 (9%) 358 (9%) 482 (11%) 428 (9%)
All Others 124 (7%) 294 (8%) 290 (8%) 297 (7%) 394 (8%)
Total 1,348 (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 196 17% 42% (83 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 86 38% (33 cases) 38 39% (15 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 3,094
Non-Public 3,719
Total 6,813

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 June

Year Cases in Agreement Cases Closed (Percent Settled) Turnaround Time (in days)
2016 330 310 (75%) 104
2015 250 243 (82%) 79
2014 223 287 (82%) 95
2016 vs 2015 +32%  +28%  +32%