Dispute Resolution Statistics

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Arbitration Statistics Through April

Year New Case Filings Cases Closed Open Cases Turnaround Time (in months)
2017 Total: 1,046
Customer: 672 (64%)
Intra-Industry: 374 (36%)
1,296 4,456 Overall: 14.4
Hearing Decisions: 15.8
Simplified Decisions: 7.2
2016 Total: 1,188
Customer: 819 (69%)
Intra-Industry: 369 (31%)
1,200 4,594 Overall: 14.8
Hearing Decisions: 17.2
Simplified Decisions: 8.0
2015 Total: 957
Customer: 623 (65%)
Intra-Industry: 334 (35%)
1,213 4,421 Overall: 14.4
Hearing Decisions: 17.3
Simplified Decisions: 8.4
2017 vs 2016 Total: -12% 
Customer: -18% 
Intra-Industry: +1% 
+8%  -3%  Overall: -3%
Hearing Decisions: -8%
Simplified Decisions: -10%

Historical Statistics for Cases Filed and Closed

Year Cases Filed Cases Closed
2017 1,046 1,296
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 April 534 629 493 667 603
Year-End -- 2,002 1,807 2,064 1,802
Negligence Through April 484 583 480 664 577
Year-End -- 1,862 1,677 1,977 1,714
Failure to Supervise Through April 472 571 428 559 497
Year-End -- 1,802 1,554 1,733 1,476
Suitability Through April 440 483 338 432 428
Year-End -- 1,606 1,364 1,401 1,243
Misrepresentation Through April 440 518 394 504 505
Year-End -- 1,670 1,499 1,593 1,507
Omission of Facts Through April 382 408 321 416 407
Year-End -- 1,394 1,216 1,384 1,242
Fraud* Through April 375 384 250 -- --
Year-End -- 1,301 1,089 41 --
Breach of Contract Through April 372 484 390 572 448
Year-End -- 1,495 1,444 1,755 1,390
Violation of Blue Sky Laws* Through April 138 106 59 -- --
Year-End -- 344 236 -- --
Unauthorized Trading Through April 92 110 79 75 91
Year-End -- 362 264 239 255
Churning Through April 88 89 79 67 71
Year-End -- 254 247 213 236
Manipulation Through April 79 81 42 64 44
Year-End -- 236 208 173 161
Margin Calls Through April 18 27 29 25 17
Year-End -- 84 97 83 55
Errors-charges Through April 17 14 24 23 19
Year-End -- 56 64 71 75
Execution Error Through April 12 27 36 60 59
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 April 177 210 167 217 187
Year-End -- 646 610 572 547
Mutual Funds Through April 109 80 70 112 112
Year-End -- 352 373 369 296
Municipal Bonds Through April 94 151 104 116 17
Year-End -- 433 559 553 67
Municipal Bond Funds Through April 85 175 97 169 10
Year-End -- 480 607 684 66
Real Estate Investment Trust Through April 67 51 63 84 100
Year-End -- 184 191 232 299
Limited Partnerships Through April 53 40 29 34 30
Year-End -- 199 79 82 84
Variable Annuities Through April 48 33 32 33 53
Year-End -- 115 104 116 160
Exchange-Traded Funds Through April 46 50 47 32 42
Year-End -- 133 127 120 99
Annuities Through April 38 41 25 38 39
Year-End -- 127 81 105 111
Corporate Bonds Through April 37 44 25 21 26
Year-End -- 154 194 66 86
Options Through April 37 42 39 46 40
Year-End -- 124 128 143 109
Private Equities Through April 36 43 28 29 34
Year-End -- 114 92 77 108
Government Securities Through April 29 7 9 6 7
Year-End -- 96 169 31 25
401(k)* Through April 28 0 -- -- --
Year-End -- 27 -- -- --
Structured Products Through April 13 18 13 11 16
Year-End -- 57 25 21 52

* 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 April 145 125 124 141 160
Year-End -- 389 373 347 465
Promissory Notes Through April 100 129 121 160 222
Year-End -- 401 401 476 632
Compensation Through April 55 51 42 64 57
Year-End -- 163 140 146 155
Wrongful Termination Through April 42 37 41 38 46
Year-End -- 127 123 79 117
Commissions Through April 40 19 27 30 33
Year-End -- 60 73 77 85
Libel or Slander on Form U-5 Through April 40 36 43 44 38
Year-End -- 124 119 110 99
Libel, Slander, or Defamation Through April 39 41 35 38 21
Year-End -- 124 115 99 101
Clearing Disputes Through April 34 0 0 2 1
Year-End -- 43 6 4 1
Discrimination or Harassment* Through April 13 20 18 21 16
Year-End -- 58 54 43 53
Breach of Fiduciary Duty Through April 11 6 7 22 30
Year-End -- 18 28 52 78
Raiding Disputes Through April 8 11 14 10 9
Year-End -- 42 40 39 21
Negligence Through April 7 4 8 12 6
Year-End -- 17 21 25 11
Misrepresentation Through April 6 3 7 16 9
Year-End -- 21 17 33 24
Indemnification Through April 6 4 4 3 7
Year-End -- 14 12 16 17
Omission of Facts Through April 5 2 1 9 3
Year-End -- 7 8 16 6

* 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 155 (12%) 593 (16%) 646 (19%) 683 (18%) 792 (18%)
After Review of Documents 58 (5%) 157 (4%) 182 (5%) 208 (5%) 236 (5%)
Total 213 (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 671 (53%) 1,812 (50%) 1,716 (50%) 1,942 (51%) 2,336 (52%)
Settled via Mediation 160 (13%) 433 (12%) 306 (9%) 329 (9%) 315 (7%)
Withdrawn 125 (10%) 341 (9%) 317 (9%) 358 (9%) 482 (11%)
All Others 106 (8%) 275 (8%) 294 (8%) 290 (8%) 297 (7%)
Total 1,062 (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 119 13% 43% (51 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 42 55% (23 cases) 21 24% (5 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 3,282
Non-Public 3,931
Total 7,213

Number of Cases and Arbitrators* per Hearing Location Through February

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 265 715 681

Mediation Statistics Through April

Year Cases in Agreement Cases Closed (Percent Settled) Turnaround Time (in days)
2017 237 242 (84%) 114
2016 239 225 (71%) 106
2015 157 154 (82%) 84
2017 vs 2016 -1%  +8%  +8%