Dispute Resolution Statistics

ON THIS PAGE

Arbitration Statistics Through December

Year New Case Filings Cases Closed Open Cases Turnaround Time (in months)
2015 Total: 3,435
Customer: 2,341 (68%)
Intra-Industry: 1,094 (32%)
3,489 4,604 Overall: 14.6
Hearing Decisions: 17.9
Simplified Decisions: 8.2
2014 Total: 3,822
Customer: 2,662 (70%)
Intra-Industry: 1,160 (30%)
3,838 4,673 Overall: 14.8
Hearing Decisions: 18.1
Simplified Decisions: 7.8
2013 Total: 3,714
Customer: 2,374 (64%)
Intra-Industry: 1,340 (36%)
4,498 4,659 Overall: 14.3
Hearing Decisions: 17.2
Simplified Decisions: 7.3
2015 vs 2014 Total: -10% 
Customer: -12% 
Intra-Industry: -6% 
-9%  -1%  Overall: -1%
Hearing Decisions: -1%
Simplified Decisions: +5%

Historical Statistics for Cases Filed and Closed

Year Cases Filed Cases Closed
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
2010 5,680 6,241
Year Cases Filed Cases Closed
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
2000 5,558 5,473

Top 15 Controversy Types in Customer Arbitrations

A single arbitration case may include multiple controversy types.

Controversy 2015 Cases served 2014 2013 2012 2011
Breach of Fiduciary Duty 1,807 2,064 1,802 2,078 2,447
Negligence 1,677 1,977 1,714 1,903 2,224
Failure to Supervise 1,554 1,733 1,476 1,650 2,002
Misrepresentation 1,499 1,593 1,507 1,745 2,073
Breach of Contract 1,444 1,755 1,390 1,513 1,873
Suitability 1,364 1,401 1,243 1,352 1,613
Omission of Facts 1,216 1,384 1,242 1,345 1,591
Fraud* 1,089 41 -- -- --
Unauthorized Trading 264 239 255 312 283
Churning 247 213 236 245 235
Violation of Blue Sky Laws* 236 -- -- -- --
Manipulation 208 173 161 189 180
Margin Calls 97 83 55 68 77
Errors-charges 64 71 75 75 90
Failure to Execute 49 69 61 76 83

* 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 2015 Cases served 2014 2013 2012 2011
Common Stock 610 572 547 669 801
Municipal Bond Funds 607 684 66 49 111
Municipal Bonds 559 553 67 77 127
Mutual Funds 373 369 296 387 638
Corporate Bonds 194 66 86 117 174
Real Estate Investment Trust 191 232 299 299 251
Government Securities 169 31 25 28 33
Preferred Stock 142 44 86 109 194
Options 128 143 109 145 155
Exchange-Traded Funds 127 120 99 122 116
Variable Annuities 111 116 160 217 206
Private Equities 92 77 108 129 172
Annuities 81 105 111 143 167
Limited Partnerships 79 82 84 68 97
Commodities Futures 27 18 18 5 11

Top 15 Controversy Types in Intra-Industry Arbitrations

A single arbitration case may include multiple controversy types.

CONTROVERSY 2015 CASES SERVED 2014 2013 2012 2011
Promissory Notes 401 476 632 802 768
Breach of Contract 373 374 465 652 624
Compensation 140 146 155 316 240
Wrongful Termination 123 79 117 110 131
Libel or Slander on Form U-5 119 110 99 106 107
Libel/Slander/Defamation 115 99 101 109 108
Commissions 73 77 85 213 145
Discrimination* 54 43 53 49 27
Raiding Disputes 40 39 21 41 34
Breach of Fiduciary Duty 28 52 78 143 142
Negligence 21 25 11 43 29
Misrepresentation 17 33 24 24 27
Fraud** 13 -- -- -- --
Partnerships 12 5 6 9 14
Indemnification 12 16 17 17 17

* 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 2015 (% of Cases) 2014 2013 2012 2011
After Hearing 646 (19%) 683 (18%) 792 (18%) 895 (19%) 1,065 (18%)
After Review of Documents 182 (5%) 208 (5%) 236 (5%) 182 (4%) 211 (3%)
Total 828 (24%) 891 (23%) 1,028 (23%) 1,077 (22%) 1,276 (21%)
Cases Resolved by Other Means 2015 (% of Cases) 2014 2013 2012 2011
Direct Settlement by Parties 1,716 (50%) 1,942 (51%) 2,336 (52%) 2,414 (50%) 2,998 (50%)
Settled via Mediation 306 (9%) 329 (9%) 315 (7%) 502 (10%) 594 (10%)
Withdrawn 317 (9%) 358 (9%) 482 (11%) 428 (9%) 708 (12%)
All Others 294 (8%) 290 (8%) 297 (7%) 394 (8%) 464 (8%)
Total 2,633 (76%) 2,919 (77%) 3,430 (77%) 3,738 (78%) 4,764 (79%)

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
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)
2010 882 20% 47% (415 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
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)
2011 13 54% (7 cases) 17 18% (3 cases)

Arbitrators by Type and Location

Arbitrator Type Total
Public 3,009
Non-Public 3,609
Total 6,618

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 December

Year Cases in Agreement Cases Closed (Percent Settled) Turnaround Time (in days)
2015 507 481 (81%) 82
2014 431 551 (80%) 103
2013 482 558 (79%) 95
2015 vs 2014 +18%  -13%  -20%