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Virtual Arbitration Hearing Statistics Through February

Contested Motions for Virtual HearingsGrantedDeniedOpenTotal
Customer294 (63%)175 (37%)3472
Intra-Industry156 (76%)50 (24%)1207
Total Customer and Intra-Industry450 (67%)225 (33%)4679

Since the postponement of in-person hearings, and as of February 29, 2,044 arbitration cases have conducted one or more hearings via Zoom (720 customer cases and 1,324 industry cases).

There are 803 total joint motions for virtual hearings. (351 in customer cases and 452 in industry cases).

Arbitration Statistics Through February

YearNew Case FilingsCases ClosedOpen CasesTurnaround Time (in months)
2024Total: 414
Customer: 267 (64%)
Intra-Industry: 147 (36%)
5763,226Overall*: 12.0
Regular Hearing Decisions: 17.3
Special Proceeding Decisions: 6.5
Paper Decisions: 4.7
2023Total: 457
Customer: 287 (63%)
Intra-Industry: 170 (37%)
4443,069Overall*: 18.4
Regular Hearing Decisions: 22.3
Special Proceeding Decisions: 3.0
Paper Decisions: 4.7
2022Total: 380
Customer: 214 (56%)
Intra-Industry: 166 (44%)
6143,648Overall*: 17.6
Regular Hearing Decisions: 19.4
Special Proceeding Decisions: 8.1
Paper Decisions: 5.0
2024 vs 2023Total: -9%
Customer: -7%
Intra-Industry: -14%
+30%+5% Overall*: -35%
Regular Hearing Decisions: -22%
Special Proceeding Decisions: +117%
Paper Decisions: 0%

* Includes cases closed for any reason.

Historical Statistics for Cases Filed and Closed 

YearCases FiledCases Closed
2024414576
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 February218238170252282
Year-End--1,5181,3401,4451,714
NegligenceThrough February190218166233249
Year-End--1,4081,2611,3711,592
Failure to SuperviseThrough February176170143203233
Year-End--1,1291,0751,2181,433
MisrepresentationThrough February175157127210236
Year-End--1,0789901,1811,384
Breach of ContractThrough February160176132191207
Year-End--1,0951,0481,1101,292
Omission of FactsThrough February141141106192204
Year-End--8818259581,215
SuitabilityThrough February135145109168223
Year-End--9318991,0711,220
FraudThrough February10811084118183
Year-End--687699744918
Violation of Blue Sky LawsThrough February6678345558
Year-End--414402355338
Breach of Regulation BI*Through February61637----
Year-End--408216----
ManipulationThrough February4146335454
Year-End--273266285316
Elder AbuseThrough February3438202140
Year-End--212188162172
Unauthorized TradingThrough February2523393934
Year-End--175149160190
TransferThrough February183786
Year-End--38524641
Errors-chargesThrough February1724222511
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 February5676689457
Year-End--393349433385
Corporate BondsThrough February37356134
Year-End--2362395779
Real Estate Investment TrustThrough February3634337542
Year-End--197211429421
Mutual FundsThrough February3331243731
Year-End--294159161177
401(k)Through February2358612
Year-End--50354173
Private EquitiesThrough February2216222042
Year-End--120146161213
AnnuitiesThrough February1896916
Year-End--78579893
OptionsThrough February1633233222
Year-End--121153157180
Exchange-Traded FundsThrough February1412101413
Year-End--95607695
Limited PartnershipsThrough February121191724
Year-End--68122134146
Municipal Bond FundsThrough February119111240
Year-End--755057136
Variable AnnuitiesThrough February11591221
Year-End--81487595
Preferred StockThrough February917555
Year-End--73423137
Structured ProductsThrough February95278
Year-End--47383335
Business Development Company (BDCs)Through February81118436
Year-End--4588177218

 

Top 15 Controversy Types in Intra-Industry Arbitrations

A single arbitration case may include multiple controversy types.

CONTROVERSYTime Period2023 Cases Served2022202120202019
Breach of ContractThrough February5844325359
Year-End--294225268309
Promissory NotesThrough February3816132164
Year-End--15484126229
Libel or Slander on Form U-5Through February231681733
Year-End--1048489148
CompensationThrough February151481732
Year-End--747784135
Libel, Slander, or DefamationThrough February158141218
Year-End--916959152
Wrongful TerminationThrough February131351718
Year-End--665062101
CommissionsThrough February6861017
Year-End--36375572
Raiding DisputesThrough February54423
Year-End--24241328
Breach of Fiduciary DutyThrough February51154
Year-End--14212331
Discrimination or Harassment*Through February36287
Year-End--25253638
FraudThrough February31014
Year-End--613816
MisrepresentationThrough February30128
Year-End--7121257
IndemnificationThrough February22011
Year-End--127614
NegligenceThrough February20212
Year-End--514817
WhistleblowerThrough February140----
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 ArbitratorsFeb-2024 (% of Cases)2023202220212020
After Regular Hearing68 (12%)436 (15%)533 (15%)497 (12%)335 (9%)
After Special Proceeding Hearing3 (1%)17 (1%)24 (1%)34 (1%)13 (0%)
After Review of Documents (Paper Cases)11 (2%)77 (3%)78 (2%)102 (2%)101 (3%)
Total82 (14%)530 (18%)635 (18%)633 (15%)449 (13%)
Cases Resolved by Other MeansFeb-2024 (% of Cases)2023202220212020
Direct Settlement by Parties312 (54%)1,496 (50%)1,752 (49%)2,418 (59%)2,060 (58%)
Settled via Mediation83 (14%)489 (16%)700 (20%)458 (11%)477 (13%)
Withdrawn71 (12%)265 (9%)290 (8%)384 (9%)329 (9%)
All Others25 (4%)213 (7%)175 (5%)216 (5%)243 (7%)
Total491 (86%)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 YTD3410%24% (8 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 YTD2381535%
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
202442250%
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
20241551033%
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 YTD3030%
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 YTD8080%
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 YTD1527% (4 cases)540% (2 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
Public4,085
Non-Public4,220
Total8,305

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

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 February

YearCases in AgreementCases Closed (Percent Settled)Turnaround Time (in days)
20247886 (87%)91
2023118103 (83%)131
2022154100 (93%)143
2024 vs 2023-34%-17% -31% 

Pre-Arbitration Requests for Mediation Through February

Year to DateNumber of Requests*Parties Agreed (%)
2024283 (11%)
2023346 (18%)
2022316 (19%)

* 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.