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Virtual Arbitration Hearing Statistics Through October

Contested Motions for Virtual HearingsGrantedDeniedOpenTotal
Customer290 (62%)175 (38%)1466
Intra-Industry153 (75%)50 (25%)0203
Total Customer and Intra-Industry443 (66%)225 (34%)2669

Since the postponement of in-person hearings, and as of October 31, 1,733 arbitration cases have conducted one or more hearings via Zoom (667 customer cases and 1,066 industry cases).

There are 790 total joint motions for virtual hearings. (347 in customer cases and 443 in industry cases).

Arbitration Statistics Through October

YearNew Case FilingsCases ClosedOpen CasesTurnaround Time (in months)
2023Total: 2,929
Customer: 1,547 (53%)
Intra-Industry: 1,382 (47%)
2,4663,494Overall*: 15.1
Regular Hearing Decisions: 18.1
Special Proceeding Decisions: 8.1
Paper Decisions: 5.0
2022Total: 2,179
Customer: 1,377 (63%)
Intra-Industry: 802 (37%)
3,0093,149Overall*: 18.3
Regular Hearing Decisions: 19.8
Special Proceeding Decisions: 7.7
Paper Decisions: 5.1
2021Total: 2,527
Customer: 1,671 (66%)
Intra-Industry: 856 (34%)
3,3194,220Overall*: 14.9
Regular Hearing Decisions: 17.1
Special Proceeding Decisions: 8.8
Paper Decisions: 5.2
2023 vs 2022Total: +34%
Customer: +12%
Intra-Industry: +72%
-18%+11% Overall*: -17%
Regular Hearing Decisions: -9%
Special Proceeding Decisions: +5%
Paper Decisions: -2%

* Includes cases closed for any reason.

Historical Statistics for Cases Filed and Closed 

YearCases FiledCases Closed
20232,9292,466
20222,6713,564
20212,8934,029
20203,9023,564
20193,7574,011
20184,3253,756
YearCases FiledCases Closed
20173,4563,735
20163,6813,635
20153,4353,489
20143,8223,838
20133,7144,498
20124,2994,877
YearCases FiledCases Closed
20114,7296,099
20105,6806,241
20097,1374,571
20084,9823,757
20073,2385,345
20064,6147,212

Top 15 Controversy Types in Customer Arbitrations

A single arbitration case may include multiple controversy types.

ControversyTime Period2023 Cases served2022202120202019
Breach of Fiduciary DutyThrough October1,2411,0871,2591,4141,793
Year-End--1,3401,4451,7142,053
NegligenceThrough October1,1501,0191,1951,3071,595
Year-End--1,2611,3711,5921,826
Failure to SuperviseThrough October9428891,0561,1811,521
Year-End--1,0751,2181,4331,731
Breach of ContractThrough October9128429651,0711,368
Year-End--1,0481,1101,2921,563
MisrepresentationThrough October8967991,0491,1231,472
Year-End--9901,1811,3841,688
SuitabilityThrough October7617569221,0241,387
Year-End--8991,0711,2201,580
Omission of FactsThrough October7346618519891,290
Year-End--8259581,2151,468
FraudThrough October5755776537871,343
Year-End--6997449181,499
Breach of Regulation BI*Through October348155------
Year-End--216------
Violation of Blue Sky LawsThrough October343318314253603
Year-End--402355338657
ManipulationThrough October233215257273331
Year-End--266285316384
Elder AbuseThrough October179160134146177
Year-End--188162172207
Unauthorized TradingThrough October144124136153165
Year-End--149160190197
Errors-chargesThrough October116851137682
Year-End--9912710298
ChurningThrough October82629497141
Year-End--81112115167

*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 Period2023 Cases Served2022202120202019
Common StockThrough October328259380324372
Year-End--349433385436
Mutual FundsThrough October217121148152490
Year-End--159161177526
Corporate BondsThrough October209196446967
Year-End--239577974
Real Estate Investment TrustThrough October158184383316187
Year-End--211429421236
OptionsThrough October106109134147181
Year-End--153157180204
Private EquitiesThrough October92123138200114
Year-End--146161213149
Exchange-Traded FundsThrough October73416376122
Year-End--607695138
Variable AnnuitiesThrough October6838678099
Year-End--487595109
Municipal Bond FundsThrough October654149114686
Year-End--5057136717
Preferred StockThrough October6433213636
Year-End--42313740
AnnuitiesThrough October6045868284
Year-End--57989397
Limited PartnershipsThrough October5210211913296
Year-End--122134146128
401(k)Through October4232306349
Year-End--35417358
Structured ProductsThrough October4025293348
Year-End--38333560
Business Development CompanyThrough October377816113219
Year-End--8817721826

 

Top 15 Controversy Types in Intra-Industry Arbitrations

A single arbitration case may include multiple controversy types.

CONTROVERSYTime Period2023 Cases Served2022202120202019
Breach of ContractThrough October248184224268284
Year-End--225268309345
Promissory NotesThrough October13273107206198
Year-End--84126229240
Libel or Slander on Form U-5Through October907578125104
Year-End--8489148119
Libel, Slander, or DefamationThrough October796249144114
Year-End--6959152135
CompensationThrough October676970118119
Year-End--7784135135
Wrongful TerminationThrough October6147538887
Year-End--5062101102
CommissionsThrough October3332466168
Year-End--37557282
Discrimination or Harassment*Through October2322303642
Year-End--25363846
Raiding DisputesThrough October1920132320
Year-End--24132821
Breach of Fiduciary DutyThrough October1218182925
Year-End--21233130
IndemnificationThrough October12441012
Year-End--761417
WhistleblowerThrough October114------
Year-End--5------
MisrepresentationThrough October8995426
Year-End--12125729
FraudThrough October7116148
Year-End--1381611
NegligenceThrough October61271615
Year-End--1491717

* 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 Arbitrators2023 (% of Cases)2022202120202019
After Regular Hearing360 (15%)533 (15%)497 (12%)335 (9%)527 (13%)
After Special Proceeding Hearing15 (1%)24 (1%)34 (1%)13 (0%)12 (0%)
After Review of Documents (Paper Cases)67 (3%)78 (2%)102 (2%)101 (3%)96 (2%)
Total442 (18%)635 (18%)633 (15%)449 (13%)635 (16%)
Cases Resolved by Other Means2023 (% of Cases)2022 (% of Cases)202120202019
Direct Settlement by Parties1,185 (49%)1,752 (49%)2,418 (59%)2,060 (58%)2,269 (57%)
Settled via Mediation424 (17%)700 (20%)458 (11%)477 (13%)513 (13%)
Withdrawn204 (8%)290 (8%)384 (9%)329 (9%)343 (9%)
All Others185 (8%)175 (5%)216 (5%)243 (7%)203 (5%)
Total1,998 (82%)2,917 (82%)3,476 (85%)3,109 (87%)3,328 (84%)

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
2023 YTD22814%25% (58 cases)
202231113%36% (111 cases)
202132813%31% (103 cases)
20201939%32% (62 cases)
201931313%45% (141 cases)
201835915%40% (145 cases)
201735214%43% (151 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
2023 YTD1655111431%
20222379214539%
20212318614537%
2020120417934%
201924110913245%
201827411515942%
201727212215045%

*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
202345182740%
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
202378304838%
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
2023 YTD130130%
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
2023 YTD5074314%
202255124322%
202181156619%
202068204829%
201964313348%
201885305535%
201780295136%

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
2023 YTD10135% (35 cases)3724% (9 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)
201815842% (67 cases)5847% (27 cases)
201713748% (66 cases)7137% (26 cases)

Arbitrators by Type and Location

Arbitrator TypeTotal
Public4,118
Non-Public4,313
Total8,431

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

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 October

YearCases in AgreementCases Closed (Percent Settled)Turnaround Time (in days)
2023544488 (85%)124
2022679665 (91%)122
2021513447 (89%)181
2023 vs 2022-20%-27% +2% 

Pre-Arbitration Requests for Mediation Through October

Year to DateNumber of Requests*Parties Agreed (%)
2023**19468 (35%)
202215132 (21%)
202117334 (20%)

* 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.

** 2023 statistic includes 50 pre-filings that are part of a global mediation.