Dispute Resolution Statistics

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Arbitration Statistics Through January

Year New Case Filings Cases Closed Open Cases Turnaround Time (in months)
2017 Total: 226
Customer: 146 (65%)
Intra-Industry: 80 (35%)
345 4,578 Overall: 14.5
Hearing Decisions: 13.7
Simplified Decisions: 7.3
2016 Total: 264
Customer: 172 (65%)
Intra-Industry: 92 (35%)
283 4,590 Overall: 14.4
Hearing Decisions: 14.3
Simplified Decisions: 7.5
2015 Total: 244
Customer: 161 (66%)
Intra-Industry: 83 (34%)
257 4,635 Overall: 14.2
Hearing Decisions: 20.0
Simplified Decisions: 7.6
2017 vs 2016 Total: -14% 
Customer: -15% 
Intra-Industry: -13% 
+22%  0%  Overall: +1%
Hearing Decisions: -4%
Simplified Decisions: -3%

Historical Statistics for Cases Filed and Closed

Year Cases Filed Cases Closed
2017 226 345
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 January 181 142 120 144 160
Year-End -- 2,002 1,807 2,064 1,802
Negligence Through January 173 115 111 148 153
Year-End -- 1,862 1,667 1,977 1,714
Failure to Supervise Through January 168 119 104 141 132
Year-End -- 1,802 1,554 1,733 1,476
Suitability Through January 155 110 86 101 112
Year-End -- 1,606 1,364 1,401 1,243
Misrepresentation Through January 151 108 99 122 134
Year-End -- 1,670 1,499 1,593 1,507
Breach of Contract Through January 138 109 99 127 117
Year-End -- 1,495 1,444 1,755 1,390
Fraud* Through January 134 73 45 -- --
Year-End -- 1,301 1,089 41 --
Omission of Facts Through January 133 75 78 93 102
Year-End -- 1,394 1,216 1,384 1,242
Violation of Blue Sky Laws* Through January 50 21 7 -- --
Year-End -- 344 236 -- --
Unauthorized Trading Through January 28 29 12 23 35
Year-End -- 362 264 239 255
Manipulation Through January 27 19 11 7 11
Year-End -- 236 208 173 161
Churning Through January 27 18 21 13 21
Year-End -- 254 247 213 236
Margin Calls Through January 6 7 7 8 6
Year-End -- 84 97 83 55
Errors-charges Through January 4 4 4 3 7
Year-End -- 56 64 71 75
Transfer Through January 3 1 5 3 1
Year-End -- 35 45 56 59

* 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 January 55 57 39 44 63
Year-End -- 646 610 572 547
Mutual Funds Through January 38 16 17 23 31
Year-End -- 352 373 369 296
Municipal Bonds Through January 31 37 23 18 8
Year-End -- 433 559 553 67
Real Estate Investment Trust Through January 27 10 15 19 20
Year-End -- 184 191 232 299
Municipal Bond Funds Through January 25 37 22 25 1
Year-End -- 480 607 684 66
Limited Partnerships Through January 20 11 8 7 9
Year-End -- 199 79 82 84
Variable Annuities Through January 19 7 2 5 12
Year-End -- 115 104 116 160
Government Securities Through January 16 1 1 1 1
Year-End -- 96 169 31 25
Annuities Through January 15 8 9 14 12
Year-End -- 127 81 105 111
Private Equities Through January 14 9 5 11 7
Year-End -- 114 92 77 108
Options Through January 13 8 17 12 11
Year-End -- 124 128 143 109
Exchange-Traded Funds Through January 11 10 12 7 17
Year-End -- 133 127 120 99
Corporate Bonds Through January 11 6 7 5 12
Year-End -- 154 194 66 86
401(k) Through January 8 0 -- -- --
Year-End -- 27 -- -- --
Unit Investment Trust Through January 4 3 0 1 1
Year-End -- 41 13 26 11

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 January 49 35 24 28 33
Year-End -- 386 373 347 465
Promissory Notes Through January 40 28 29 39 43
Year-End -- 401 401 476 632
Compensation Through January 24 12 8 14 11
Year-End -- 163 140 146 155
Commissions Through January 18 3 5 8 5
Year-End -- 60 73 77 85
Wrongful Termination Through January 17 10 4 8 12
Year-End -- 127 123 79 117
Libel or Slander on Form U-5 Through January 15 10 8 9 14
Year-End -- 124 119 110 99
Libel/Slander/Defamation Through January 14 12 5 7 6
Year-End -- 124 115 99 101
Clearing Disputes Through January 8 0 0 0 1
Year-End -- 43 6 4 1
Discrimination or Harassment* Through January 7 8 1 6 1
Year-End -- 58 54 43 53
Breach of Fiduciary Duty Through January 3 1 1 6 7
Year-End -- 18 28 52 78
Manipulation Through January 2 0 0 0 0
Year-End -- 4 1 5 1
Indemnification Through January 2 1 0 1 0
Year-End -- 14 12 16 17
Raiding Disputes Through January 2 3 2 2 3
Year-End -- 42 40 39 21
Partnerships Through January 1 1 0 1 1
Year-End -- 11 12 5 6
Misrepresentation Through January 1 1 1 3 4
Year-End -- 21 17 33 24

* 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 47 (14%) 593 (16%) 646 (19%) 683 (18%) 792 (18%)
After Review of Documents 20 (6%) 157 (4%) 182 (5%) 208 (5%) 236 (5%)
Total 67 (20%) 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 169 (49%) 1,812 (50%) 1,716 (50%) 1,942 (51%) 2,336 (52%)
Settled via Mediation 47 (14%) 433 (12%) 306 (9%) 329 (9%) 315 (7%)
Withdrawn 18 (5%) 341 (9%) 317 (9%) 358 (9%) 482 (11%)
All Others 41 (12%) 275 (8%) 294 (8%) 290 (8%) 297 (7%)
Total 275 (80%) 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 33 14% 42% (14 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 4 75% (3 cases) 2 50% (1 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 3,245
Non-Public 3,881
Total 7,126

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 January

Year Cases in Agreement Cases Closed (Percent Settled) Turnaround Time (in days)
2017 45 64 (86%) 131
2016 77 44 (82%) 81
2015 44 46 (91%) 94
2017 vs 2016 -42%  +45%  +62%