2015 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

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

Hearing Location	Cases	Public Arbitrators	Non-Public Arbitrators	Public Chairs
Albany, NY	15	159	195	69
Albuquerque, NM	3	44	48	28
Anchorage, AK	1	41	32	27
Atlanta, GA	99	91	87	35
Augusta, ME	7	37	27	27
Baltimore, MD	42	101	51	28
Birmingham, AL	50	57	55	40
Bismarck, ND	3	33	23	26
Boca Raton, FL	188	177	232	61
Boise, ID	13	51	29	29
Boston, MA	55	81	126	33
Buffalo, NY	23	46	42	26
Charleston, WV	6	45	29	33
Charlotte, NC	31	55	56	29
Cheyenne, WY	0	44	29	24
Chicago, IL	115	156	171	59
Cincinnati, OH	16	66	55	29
Cleveland, OH	38	59	39	26
Columbia, SC	23	96	56	50
Columbus, OH	19	61	34	31
Dallas, TX	84	79	92	27
Denver, CO	47	59	92	37
Des Moines, IA	31	43	58	28
Detroit, MI	71	84	99	32
Hartford, CT	42	76	98	34
Helena, MT	17	48	39	28
Honolulu, HI	9	74	73	40
Houston, TX	115	94	110	34
Indianapolis, IN	19	46	40	26
Jackson, MS	13	65	31	39
Jacksonville, FL	31	60	36	37
Kansas City, MO	27	44	32	25
Las Vegas, NV	18	47	29	35
Little Rock, AR	10	70	63	42
Los Angeles, CA	249	161	172	61
Louisville, KY	22	52	31	24
Manchester, NH	11	53	46	35
Memphis, TN	8	78	39	48
Miami, FL	81	135	127	50
Milwaukee, WI	29	48	31	32
Minneapolis, MN	58	64	76	32
Montpelier, VT	7	45	33	30
Nashville, TN	16	83	34	49
New Orleans, LA	28	57	35	31
New York, NY	496	448	632	175
Newark, NJ	116	135	235	65
Norfolk, VA	11	69	33	28
Oklahoma City, OK	16	56	31	33
Omaha, NE	13	48	45	25
Orlando, FL	48	72	94	35
Philadelphia, PA	102	110	122	37
Phoenix, AZ	66	99	110	51
Pittsburgh, PA	30	63	32	38
Portland, OR	22	62	37	38
Providence, RI	11	62	51	39
Raleigh, NC	24	96	37	48
Rapid City, SD	1	33	29	26
Reno, NV	10	67	65	38
Richmond, VA	18	56	63	35
Salt Lake City, UT	20	50	48	29
San Diego, CA	65	90	70	54
San Francisco, CA	154	114	124	46
San Juan, PR	1,027	113	44	28
Seattle, WA	55	92	62	41
St. Louis, MO	38	44	108	28
Syracuse, NY	15	41	30	25
Tampa, FL	96	109	156	50
Washington, D.C.	43	122	63	31
Wichita, KS	5	40	31	27
Wilmington, DE	2	61	52	34

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%