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Virtual Arbitration Hearing Statistics Through January

Contested Motions for Virtual HearingsGrantedDeniedOpenTotal
Customer293 (63%)175 (37%)2470
Intra-Industry156 (76%)50 (24%)0207
Total Customer and Intra-Industry449 (67%)225 (33%)3677

Since the postponement of in-person hearings, and as of January 31, 1,966 arbitration cases have conducted one or more hearings via Zoom (703 customer cases and 1,263 industry cases).

There are 802 total joint motions for virtual hearings. (351 in customer cases and 451 in industry cases).

Arbitration Statistics Through January

YearNew Case FilingsCases ClosedOpen CasesTurnaround Time (in months)
2024Total: 201
Customer: 193 (69%)
Intra-Industry: 62 (31%)
2923,295Overall*: 12.9
Regular Hearing Decisions: 14.5
Special Proceeding Decisions: 6.6
Paper Decisions: 4.6
2023Total: 237
Customer: 146 (62%)
Intra-Industry: 91 (38%)
1943,069Overall*: 18.1
Regular Hearing Decisions: 22.8
Special Proceeding Decisions: 2.5
Paper Decisions: 4.5
2022Total: 191
Customer: 108 (57%)
Intra-Industry: 83 (43%)
2953,785Overall*: 18.1
Regular Hearing Decisions: 20.0
Special Proceeding Decisions: 5.9
Paper Decisions: 4.9
2024 vs 2023Total: -15%
Customer: -5%
Intra-Industry: -32%
+51%+7% Overall*: -29%
Regular Hearing Decisions: -36%
Special Proceeding Decisions: +164%
Paper Decisions: +2%

* Includes cases closed for any reason.

Historical Statistics for Cases Filed and Closed 

YearCases FiledCases Closed
2024201292
20233,3823,027
20222,6713,564
20212,8934,029
20203,9023,564
20193,7574,011
YearCases FiledCases Closed
20184,3253,756
20173,4563,735
20163,6813,635
20153,4353,489
20143,8223,838
20133,7144,498
YearCases FiledCases Closed
20124,2994,877
20114,7296,099
20105,6806,241
20097,1374,571
20084,9823,757
20073,2385,345

Top 15 Controversy Types in Customer Arbitrations

A single arbitration case may include multiple controversy types.

ControversyTime Period2024 Cases served2023202220212020
Breach of Fiduciary DutyThrough January12012388123134
Year-End--1,5181,3401,4451,714
NegligenceThrough January11010781115121
Year-End--1,4081,2611,3711,592
MisrepresentationThrough January987870101110
Year-End--1,0789901,1811,384
Failure to SuperviseThrough January94817298112
Year-End--1,1291,0751,2181,433
Breach of ContractThrough January9295749095
Year-End--1,0951,0481,1101,292
SuitabilityThrough January7473628596
Year-End--9318991,0711,220
Omission of FactsThrough January7370569397
Year-End--8818259581,215
FraudThrough January6452456482
Year-End--687699744918
Violation of Blue Sky LawsThrough January3539212328
Year-End--414402355338
Breach of Regulation BI*Through January33232----
Year-End--408216----
ManipulationThrough January2119152823
Year-End--273266285316
Elder AbuseThrough January17208922
Year-End--212188162172
Unauthorized TradingThrough January1210162219
Year-End--175149160190
TransferThrough January71344
Year-End--38524641
Errors-chargesThrough January6147117
Year-End--13299127102

*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.

SECURITYTime Period2024 Cases Served2023202220212020
Common StockThrough January2944324126
Year-End--393349433385
Corporate BondsThrough January2614283
Year-End--2362395779
Real Estate Investment TrustThrough January2018193322
Year-End--197211429421
Mutual FundsThrough January1915121917
Year-End--294159161177
Private EquitiesThrough January131012618
Year-End--120146161213
401(k)Through January111425
Year-End--50354173
AnnuitiesThrough January95237
Year-End--78579893
OptionsThrough January82391010
Year-End--121153157180
Structured ProductsThrough January82243
Year-End--47383335
Limited PartnershipsThrough January764812
Year-End--68122134146
Preferred StockThrough January515341
Year-End--73423137
Municipal Bond FundsThrough January545927
Year-End--755057136
Variable AnnuitiesThrough January532315
Year-End--81487595
Exchange-Traded FundsThrough January34276
Year-End--95607695
Hedge FundThrough January31011
Year-End--1243419

 

Top 15 Controversy Types in Intra-Industry Arbitrations

A single arbitration case may include multiple controversy types.

CONTROVERSYTime Period2023 Cases Served2022202120202019
Breach of ContractThrough January2327161934
Year-End--294225268309
Promissory NotesThrough January1658938
Year-End--15484126229
Libel or Slander on Form U-5Through January784818
Year-End--1048489148
Libel, Slander, or DefamationThrough January78677
Year-End--916959152
CompensationThrough January683820
Year-End--747784135
Wrongful TerminationThrough January571810
Year-End--665062101
CommissionsThrough January462411
Year-End--36375572
Discrimination or Harassment*Through January10152
Year-End--25253638
Raiding DisputesThrough January12112
Year-End--24241328
Breach of Fiduciary DutyThrough January11033
Year-End--14212331
IndemnificationThrough January10001
Year-End--127614
WhistleblowerThrough January100----
Year-End--125----

* 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 ArbitratorsJan-2024 (% of Cases)2023202220212020
After Regular Hearing34 (12%)436 (15%)533 (15%)497 (12%)335 (9%)
After Special Proceeding Hearing0 (0%)17 (1%)24 (1%)34 (1%)13 (0%)
After Review of Documents (Paper Cases)4 (1%)77 (3%)78 (2%)102 (2%)101 (3%)
Total38 (13%)530 (18%)635 (18%)633 (15%)449 (13%)
Cases Resolved by Other MeansJan-2024 (% of Cases)2023202220212020
Direct Settlement by Parties158 (54%)1,496 (50%)1,752 (49%)2,418 (59%)2,060 (58%)
Settled via Mediation53 (18%)489 (16%)700 (20%)458 (11%)477 (13%)
Withdrawn31 (11%)265 (9%)290 (8%)384 (9%)329 (9%)
All Others12 (4%)213 (7%)175 (5%)216 (5%)243 (7%)
Total254 (87%)2,463 (82%)2,917 (82%)3,476 (85%)3,109 (87%)

Results of Customer Claimant Arbitration Award Cases

Year DecidedAll Customer Claimant Cases Decided (Hearings, Special Procedures & Paper)Percentage Decided of All Customer Claimant Cases ClosedPercentage (and Number) of Cases where Customer Awarded Damages
2024 YTD169%31% (5 cases)
2023 27414%24% (67 cases)
202231113%36% (111 cases)
202132813%31% (103 cases)
20201939%32% (62 cases)
201931313%45% (141 cases)

Result of Customer Claimant Arbitration Award Cases (Regular Hearing Only)*

Year DecidedCustomer Claimant Cases Decided (Hearing Only)Hearing Customer Claimant Cases Where Customer Awarded DamagesHearing Customer Claimant Not Awarded DamagesPercentage of Customer Award Hearing Cases
2024 YTD125742%
2023 2005914130%
20222379214539%
20212318614537%
2020120417934%
201924110913245%

*The data in this chart includes cases dismissed prior to the hearing on the merits, and are counted as cases in which the customer claimant was not awarded damages.

Awards on the Merits of the Case with One or More Zoom Evidentiary Hearings*

Year DecidedCustomer Claimant Cases DecidedCustomer Claimant Cases Where Customer Awarded DamagesCustomer Claimant Not Awarded DamagesPercentage of Customer Claimant Cases Where Customer Awarded Damages
20242020%
202353213240%
2022116516544%
2021136607644%
202030121840%

*The data in this chart excludes cases dismissed prior to the hearing on the merits.

Awards on the Merits of the Case with In-Person Evidentiary Hearings*

Year DecidedCustomer Claimant Cases DecidedCustomer Claimant Cases Where Customer Awarded DamagesCustomer Claimant Not Awarded DamagesPercentage of Customer Claimant Cases Where Customer Awarded Damages
202474357%
202391345737%
202274344046%
202146222448%
202034171750%

*The data in this chart excludes cases dismissed prior to the hearing on the merits.

 

Result of Customer Claimant Arbitration Award Cases (Special Proceeding Hearing Only)

Year DecidedCustomer Claimant Cases Decided (Special Proceeding Only)Special Proceeding Customer Claimant Cases Where Customer Awarded DamagesSpecial Proceeding Customer Claimant Not Awarded DamagesPercentage of Customer Award Special Proceeding Cases
2024 YTD0000%
2023150150%
20221971237%
20211621413%
202051420%
201981713%

 

Result of Customer Claimant Arbitration Award Cases (Paper Only)

Year DecidedCustomer Claimant Cases Decided (Paper Only)Paper Customer Claimant Cases Where Customer Awarded DamagesCustomer Claimant Not Awarded DamagesPercentage of Customer Award Paper Cases
2024 YTD4040%
20235985114%
202255124322%
202181156619%
202068204829%
201964313348%

Results of All-Public Panels and Majority Public Panels in Customer Cases

Year DecidedCases Decided by All-Public PanelsPercentage (and Number) of Cases Decided by 3 Public Arbitrators where Customer Awarded DamagesCases Decided by Majority-Public PanelsPercentage (and Number) of Cases Decided by 2 Public Arbitrators and 1 Non-Public Arbitrator where Customer Awarded Damages
2024 YTD729% (2 cases)333% (1 case)
202312232% (39 cases)4626% (12 cases)
202214142% (59 cases)5137% (19 cases)
202113939% (54 cases)4630% (14 cases)
20207633% (25 cases)2623% (6 cases)
201914953% (79 cases)4728% (13 cases)

Arbitrators by Type and Location

Arbitrator TypeTotal
Public4,076
Non-Public4,192
Total8,268

Number of Cases and Arbitrators* per Hearing Location Through January.

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.

Mediation Statistics Through January

YearCases in AgreementCases Closed (Percent Settled)Turnaround Time (in days)
20243356 (89%)79
20235259 (76%)152
20227733 (91%)140
2024 vs 2023-37%-5% -48% 

Pre-Arbitration Requests for Mediation Through January

Year to DateNumber of Requests*Parties Agreed (%)
2024171 (6%)
2023175 (29%)
2022193 (16%)

* As of January 1, 2020, Number of Requests only includes cases subject to FINRA’s jurisdiction. Previously, these statistics included all requests to mediate, including those not subject to FINRA’s jurisdiction.