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Dispute Resolution Services Statistics

Arbitration Statistics Through May

YearNew Case FilingsCases ClosedOpen CasesTurnaround Time (in months)
2025Total: 1,004
Customer: 626 (62%)
Intra-Industry: 378 (38%)
1,1232,680Overall*: 13.6
Regular Hearing Decisions: 15.5
Special Proceeding Decisions: 5.6
Paper Decisions: 5.0
2024Total: 1,066
Customer: 694 (65%)
Intra-Industry: 372 (35%)
1,4313,046Overall*: 11.7
Regular Hearing Decisions: 16.6
Special Proceeding Decisions: 6.5
Paper Decisions: 5.3
2023Total: 1,444
Customer: 772 (53%)
Intra-Industry: 672 (47%)
1,1873,336Overall*: 16.5
Regular Hearing Decisions: 18.6
Special Proceeding Decisions: 7.0
Paper Decisions: 5.0
2025 vs 2024Total: -6%
Customer: -10%
Intra-Industry: +2%
-22%-12% Overall*: +16%
Regular Hearing Decisions: -7%
Special Proceeding Decisions: -14%
Paper Decisions: -6%

* Includes cases closed for any reason.

Historical Statistics for Cases Filed and Closed 

YearCases FiledCases Closed
20251,0041,123
20242,4693,108
20233,3823,027
20222,6713,564
20212,8934,029
20203,9023,564
YearCases FiledCases Closed
20193,7574,011
20184,3253,756
20173,4563,735
20163,6813,635
20153,4353,489
20143,8223,838
YearCases FiledCases Closed
20133,7144,498
20124,2994,877
20114,7296,099
20105,6806,241
20097,1374,571
20084,9823,757

Top 15 Controversy Types in Customer Arbitrations

A single arbitration case may include multiple controversy types.

ControversyTime Period2025 Cases served2024202320222021
Breach of Fiduciary DutyThrough May435556621485661
Year-End--1,2521,5181,3401,445
NegligenceThrough May400510565443623
Year-End--1,1261,4081,2611,371
MisrepresentationThrough May377463442351537
Year-End--1,0321,0789901,181
Failure to SuperviseThrough May361470464387516
Year-End--1,0501,1291,0751,218
Omission of FactsThrough May324384369283457
Year-End--851881825958
Breach of ContractThrough May316430465363485
Year-End--9931,0951,0481,110
SuitabilityThrough May296383382330433
Year-End--8539318991,071
FraudThrough May248305282258325
Year-End--679687699744
Breach of Regulation BI*Through May183191177370
Year-End--44840821640
ManipulationThrough May1341439891146
Year-End--325273266285
Violation of Blue Sky LawsThrough May110152185124165
Year-End--342414402355
Elder AbuseThrough May7479846273
Year-End--170212188162
Unauthorized TradingThrough May6562786380
Year-End--119175149160
Errors-chargesThrough May5139714075
Year-End--7913299127
TransferThrough May323481720
Year-End--70385246

*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 Period2025 Cases Served2024202320222021
Common StockThrough May137132169161212
Year-End--304393349433
Real Estate Investment TrustThrough May58927998182
Year-End--164197211429
Mutual FundsThrough May5455935479
Year-End--113294159161
Private EquitiesThrough May5045385469
Year-End--94120146161
OptionsThrough May5035625279
Year-End--87121153157
Corporate BondsThrough May47861114826
Year-End--16923623957
Exchange-Traded FundsThrough May4127302230
Year-End--68956076
AnnuitiesThrough May3240292637
Year-End--87785798
401(k)Through May2942221817
Year-End--69503541
Variable AnnuitiesThrough May2825272237
Year-End--56814875
Limited PartnershipsThrough May2722255170
Year-End--5768122134
Municipal Bond FundsThrough May2523302131
Year-End--51755057
Structured ProductsThrough May224118714
Year-End--83473833
Preferred StockThrough May1520341412
Year-End--39734231
Municipal BondsThrough May1413121428
Year-End--29353051

 

Top 15 Controversy Types in Intra-Industry Arbitrations

A single arbitration case may include multiple controversy types.

CONTROVERSYTime Period2025 Cases Served2024202320222021
Breach of ContractThrough May1211209891121
Year-End--283294225268
Promissory NotesThrough May7186543459
Year-End--17115484126
CompensationThrough May3657293738
Year-End--156747784
Libel or Slander on Form U-5Through May3547433644
Year-End--901048489
Wrongful TerminationThrough May2427242430
Year-End--65665062
Libel, Slander, or DefamationThrough May2337273220
Year-End--74916959
Breach of Fiduciary DutyThrough May23104610
Year-End--27142123
CommissionsThrough May1819131821
Year-End--74363755
Raiding DisputesThrough May1496127
Year-End--16242413
Discrimination or Harassment*Through May98101117
Year-End--28252536
FraudThrough May63153
Year-End--116138
MisrepresentationThrough May63034
Year-End--771212
WhistleblowerThrough May44520
Year-End--121250
NegligenceThrough May43152
Year-End--85149
Clearing DisputesThrough May31120
Year-End--5310

* 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 ArbitratorsMay-2025 (% of Cases)2024202320222021
After Regular Hearing190 (17%)431 (14%)436 (15%)533 (15%)497 (12%)
After Special Proceeding Hearing7 (1%)24 (1%)17 (1%)24 (1%)34 (1%)
After Review of Documents (Paper Cases)33 (3%)64 (2%)77 (3%)78 (2%)102 (2%)
Total230 (21%)519 (17%)530 (18%)635 (18%)633 (15%)
Cases Resolved by Other MeansMay-2025 (% of Cases)20242023202220212020
Direct Settlement by Parties501 (45%)1,724 (56%)1,496 (50%)1,752 (49%)2,418 (59%)2,060 (58%)
Settled via Mediation164 (15%)362 (12%)489 (16%)700 (20%)458 (11%)477 (13%)
Withdrawn141 (13%)304 (10%)265 (9%)290 (8%)384 (9%)329 (9%)
All Others81 (7%)169 (5%)213 (7%)175 (5%)216 (5%)243 (7%)
Total887 (79%)2,559 (83%)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
2025 YTD10714%30% (32 cases)
202423213%26% (61 cases)
2023 27414%24% (67 cases)
202231113%36% (111 cases)
202132813%31% (103 cases)
20201939%32% (62 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
2025 YTD78245431%
20241604911131%
2023 2005914130%
20222379214539%
20212318614537%
2020120417934%

*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
20251811761%
202431141745%
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
202532112134%
202475294639%
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
2025 YTD6060%
20242041620%
2023150150%
20221971237%
20211621413%
202051420%

 

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
2025 YTD2381535%
20245284415%
20235985114%
202255124322%
202181156619%
202068204829%

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
2025 YTD5237% (19 cases)922% (2 cases)
202410231% (32 cases)2818% (5 cases)
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
Public4,034
Non-Public4,049
Total8,083

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

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 May

YearCases in AgreementCases Closed (Percent Settled)Turnaround Time (in days)
2025218214 (84%)120
2024218236 (89%)140
2023314276 (83%)126
2025 vs 20240%-9% -14% 

Pre-Arbitration Requests for Mediation Through May

Year to DateNumber of Requests*Parties Agreed (%)
20256120 (33%)
20246715 (22%)
202310759 (55%)

* 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.