Dispute Resolution Statistics

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Arbitration Statistics Through July

Year New Case Filings Cases Closed Open Cases Turnaround Time (in months)
2017 Total: 1,961
Customer: 1,281 (65%)
Intra-Industry: 680 (35%)
2,235 4,440 Overall: 14.5
Hearing Decisions: 16.9
Simplified Decisions: 6.7
2016 Total: 2,147
Customer: 1,533 (71%)
Intra-Industry: 614 (29%)
2,038 4,718 Overall: 14.9
Hearing Decisions: 17.1
Simplified Decisions: 7.7
2015 Total: 1,942
Customer: 1,292 (67%)
Intra-Industry: 650 (33%)
2,084 4,517 Overall: 14.4
Hearing Decisions: 17.3
Simplified Decisions: 8.3
2017 vs 2016 Total: -9% 
Customer: -16% 
Intra-Industry: +11% 
+10%  -6%  Overall: -3%
Hearing Decisions: -1%
Simplified Decisions: -13%

Historical Statistics for Cases Filed and Closed

Year Cases Filed Cases Closed
2017 1,961 2,235
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 July 1,060 1,205 928 1,221 1,054
Year-End -- 2,002 1,807 2,064 1,802
Negligence Through July 933 1,121 889 1,203 1,010
Year-End -- 1,862 1,677 1,977 1,714
Failure to Supervise Through July 910 1,095 807 1,019 870
Year-End -- 1,802 1,554 1,733 1,476
Misrepresentation Through July 896 985 758 925 891
Year-End -- 1,670 1,499 1,593 1,507
Suitability Through July 890 943 657 822 745
Year-End -- 1,606 1,364 1,401 1,243
Omission of Facts Through July 805 810 618 785 737
Year-End -- 1,394 1,216 1,384 1,242
Breach of Contract Through July 740 932 736 1,066 791
Year-End -- 1,495 1,444 1,755 1,390
Fraud* Through July 736 767 514 -- --
Year-End -- 1,301 1,089 41 --
Violation of Blue Sky Laws* Through July 260 197 129 -- --
Year-End -- 344 236 -- --
Manipulation Through July 167 148 101 104 90
Year-End -- 236 208 173 161
Unauthorized Trading Through July 166 209 145 134 155
Year-End -- 362 264 239 255
Churning Through July 142 157 141 121 139
Year-End -- 254 247 213 236
Margin Calls Through July 33 42 52 36 33
Year-End -- 84 97 83 55
Errors-charges Through July 31 30 34 39 42
Year-End -- 56 64 71 75
Execution Error Through July 29 55 58 85 95
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 July 337 408 294 351 314
Year-End -- 646 610 572 547
Municipal Bonds Through July 254 262 210 286 21
Year-End -- 433 559 553 67
Municipal Bond Funds Through July 253 316 226 380 19
Year-End -- 480 607 684 66
Mutual Funds Through July 220 164 142 173 192
Year-End -- 352 373 369 296
Real Estate Investment Trust Through July 117 111 113 139 191
Year-End -- 184 191 232 299
Limited Partnerships Through July 109 109 50 55 54
Year-End -- 199 79 82 84
Exchange-Traded Funds Through July 84 83 74 59 65
Year-End -- 133 127 120 99
Variable Annuities Through July 78 63 71 67 93
Year-End -- 115 104 116 160
Government Securities Through July 76 31 35 15 15
Year-End -- 96 169 31 25
Private Equities Through July 75 67 57 46 65
Year-End -- 114 92 77 108
Options Through July 69 73 77 78 68
Year-End -- 124 128 143 109
Annuities Through July 66 70 46 62 68
Year-End -- 127 81 105 111
Corporate Bonds Through July 63 91 49 38 43
Year-End -- 154 194 66 86
401(k)* Through July 46 4 -- -- --
Year-End -- 27 -- -- --
Preferred Stock Through July 28 44 24 22 45
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 July 235 216 236 235 289
Year-End -- 389 373 347 465
Promissory Notes Through July 159 236 228 305 380
Year-End -- 401 401 476 632
Compensation Through July 92 85 79 102 103
Year-End -- 163 140 146 155
Libel or Slander on Form U-5 Through July 77 69 70 74 62
Year-End -- 124 119 110 99
Wrongful Termination Through July 68 68 71 57 78
Year-End -- 127 123 79 117
Commissions Through July 66 32 44 55 53
Year-End -- 60 73 77 85
Libel, Slander, or Defamation Through July 61 71 68 63 51
Year-End -- 124 115 99 101
Clearing Disputes Through July 39 3 2 3 1
Year-End -- 43 6 4 1
Breach of Fiduciary Duty Through July 22 9 15 39 46
Year-End -- 18 28 52 78
Suitability Through July 19 1 1 2 1
Year-End -- 15 1 2 3
Raiding Disputes Through July 18 18 27 25 14
Year-End -- 42 40 39 21
Discrimination or Harassment** Through July 18 36 33 32 38
Year-End -- 58 54 43 53
Misrepresentation Through July 16 7 12 23 16
Year-End -- 21 17 33 24
Indemnification Through July 13 6 6 12 10
Year-End -- 14 12 16 17
Unauthotized Trading Through July 13 2 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 298 (13%) 593 (16%) 646 (19%) 683 (18%) 792 (18%)
After Review of Documents 84 (4%) 157 (4%) 182 (5%) 208 (5%) 236 (5%)
Total 382 (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 1,162 (53%) 1,812 (50%) 1,716 (50%) 1,942 (51%) 2,336 (52%)
Settled via Mediation 279 (13%) 433 (12%) 306 (9%) 329 (9%) 315 (7%)
Withdrawn 211 (10%) 341 (9%) 317 (9%) 358 (9%) 482 (11%)
All Others 174 (8%) 275 (8%) 294 (8%) 290 (8%) 297 (7%)
Total 1,826 (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 213 14% 42% (89 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 88 51% (45 cases) 37 30% (11 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 3,306
Non-Public 3,949
Total 7,255

Number of Cases and Arbitrators* per Hearing Location Through July

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 265 705 675

Mediation Statistics Through July

Year Cases in Agreement Cases Closed (Percent Settled) Turnaround Time (in days)
2017 384 424 (84%) 106
2016 354 352 (75%) 103
2015 302 291 (81%) 80
2017 vs 2016 +8%  +20%  +3%