Dispute Resolution Statistics

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Arbitration Statistics Through September

Year New Case Filings Cases Closed Open Cases Turnaround Time (in months)
2017 Total: 2,537
Customer: 1,661 (65%)
Intra-Industry: 876 (35%)
2,830 4,441 Overall: 14.7
Hearing Decisions: 17.0
Simplified Decisions: 6.6
2016 Total: 2,804
Customer: 1,961 (70%)
Intra-Industry: 843 (30%)
2,637 4,809 Overall: 15.0
Hearing Decisions: 16.8
Simplified Decisions: 7.5
2015 Total: 2,539
Customer: 1,708 (67%)
Intra-Industry: 831 (33%)
2,586 4,581 Overall: 14.4
Hearing Decisions: 17.2
Simplified Decisions: 8.2
2017 vs 2016 Total: -10% 
Customer: -15% 
Intra-Industry: +4% 
+7%  -8%  Overall: -2%
Hearing Decisions: +1%
Simplified Decisions: -12%

Historical Statistics for Cases Filed and Closed 

Year Cases Filed Cases Closed
2017 2,537 2,830
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 September 1,400 1,572 1,304 1,532 1,363
Year-End -- 2,002 1,807 2,064 1,802
Negligence Through September 1,235 1,465 1,225 1,493 1,294
Year-End -- 1,862 1,677 1,977 1,714
Misrepresentation Through September 1,207 1,300 1,077 1,166 1,142
Year-End -- 1,670 1,499 1,593 1,507
Failure to Supervise Through September 1,206 1,417 1,118 1,282 1,112
Year-End -- 1,802 1,554 1,733 1,476
Suitability Through September 1,178 1,239 951 1,025 951
Year-End -- 1,606 1,364 1,401 1,243
Omission of Facts Through September 1,090 1,086 884 997 943
Year-End -- 1,394 1,216 1,384 1,242
Fraud* Through September 1,008 1,010 779 -- --
Year-End -- 1,301 1,089 41 --
Breach of Contract Through September 982 1,207 1,043 1,321 1,023
Year-End -- 1,495 1,444 1,755 1,390
Violation of Blue Sky Laws* Through September 384 254 174 -- --
Year-End -- 344 236 -- --
Manipulation Through September 229 191 135 140 118
Year-End -- 236 208 173 161
Unauthorized Trading Through September 214 279 190 181 190
Year-End -- 362 264 239 255
Churning Through September 187 201 179 159 178
Year-End -- 254 247 213 236
Errors-charges Through September 51 44 40 53 55
Year-End -- 56 64 71 75
Margin Calls Through September 50 62 62 52 38
Year-End -- 84 97 83 55
Execution Error Through September 43 55 68 115 111
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.

Common Stock Municipal Bond Funds Municipal Bonds Mutual Funds Real Estate Investment Trust Limited Partnerships Government Securities Exchange-Traded Funds Variable Annuities Options Corporate Bonds Private Equities Annuities 401(k)** Preferred Stock

Security   2017 Cases served 2016 2015 2014 2013
Common Stock Through September 458 510 448 434 404
Year-End -- 646 610 572 547
Municipal Bond Funds Through September 360 410 422 492 26
Year-End -- 480 607 684 66
Municipal Bonds Through September 359 353 388 376 34
Year-End -- 433 559 553 67
Mutual Funds Through September 312 266 270 219 235
Year-End -- 352 373 369 296
Real Estate Investment Trust Through September 143 133 144 168 254
Year-End -- 184 191 232 299
Limited Partnerships Through September 137 142 58 69 63
Year-End -- 199 79 82 84
Government Securities Through September 125 76 131 21 17
Year-End -- 96 169 31 25
Exchange-Traded Funds Through September 115 109 83 86 80
Year-End -- 133 127 120 99
Variable Annuities Through September 101 89 85 84 119
Year-End -- 115 104 116 160
Options Through September 93 86 93 103 77
Year-End -- 124 128 143 109
Corporate Bonds Through September 92 121 144 49 61
Year-End -- 154 194 66 86
Private Equities Through September 92 80 72 58 86
Year-End -- 114 92 77 108
Annuities Through September 87 88 62 82 91
Year-End -- 127 81 105 111
401(k)* Through September 56 7 -- -- --
Year-End -- 27 -- -- --
Preferred Stock Through September 42 56 109 29 63
Year-End -- 74 142 44 86

* 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 September 301 287 295 291 364
Year-End -- 389 373 347 465
Promissory Notes Through September 213 312 309 367 471
Year-End -- 401 401 476 632
Compensation Through September 121 118 101 128 123
Year-End -- 163 140 146 155
Libel or Slander on Form U-5 Through September 102 85 96 84 78
Year-End -- 124 119 110 99
Wrongful Termination Through September 91 88 92 66 95
Year-End -- 127 123 79 117
Libel, Slander, or Defamation Through September 85 94 92 76 73
Year-End -- 124 115 99 101
Commissions Through September 79 42 60 65 69
Year-End -- 60 73 77 85
Breach of Fiduciary Duty Through September 37 12 17 44 60
Year-End -- 18 28 52 78
Suitability Through September 37 6 1 2 2
Year-End -- 15 1 2 3
Clearing Disputes Through September 36 13 5 3 1
Year-End -- 43 6 4 1
Misrepresentation Through September 31 9 15 27 20
Year-End -- 21 17 33 24
Discrimination or Harassment* Through September 25 40 41 35 48
Year-End -- 58 54 43 53
Raiding Disputes Through September 23 25 28 32 18
Year-End -- 42 40 39 21
Indemnification Through September 19 11 7 13 15
Year-End -- 14 12 16 17
Unauthotized Trading Through September 18 6 1 1 1
Year-End -- 10 2 2 4

* 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 374 (13%) 593 (16%) 646 (19%) 683 (18%) 792 (18%)
After Review of Documents 97 (3%) 157 (4%) 182 (5%) 208 (5%) 236 (5%)
Total 471 (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 1,483 (53%) 1,812 (50%) 1,716 (50%) 1,942 (51%) 2,336 (52%)
Settled via Mediation 375 (13%) 433 (12%) 306 (9%) 329 (9%) 315 (7%)
Withdrawn 267 (10%) 341 (9%) 317 (9%) 358 (9%) 482 (11%)
All Others 196 (7%) 275 (8%) 294 (8%) 290 (8%) 297 (7%)
Total 2,321 (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 265 14% 42% (112 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 106 50% (53 cases) 52 31% (16 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 3,303
Non-Public 3,883
Total 7,186

Number of Cases and Arbitrators* per Hearing Location Through September

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 258 694 667

Mediation Statistics Through September

Year Cases in Agreement Cases Closed (Percent Settled) Turnaround Time (in days)
2017 478 557 (83%) 105
2016 454 448 (77%) 110
2015 378 364 (78%) 83
2017 vs 2016 +5%  +21%  -4%