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Virtual Arbitration Hearing Statistics Through March

Contested Motions for Virtual Hearings Granted Denied Open Total
Customer 244 (62%) 152 (38%) 10 406
Intra-Industry 121 (75%) 41 (25%) 3 165
Total Customer and Intra-Industry 365 (65%) 193 (35%) 13 571

Since the postponement of in-person hearings, and as of March 31, 772 arbitration cases have conducted one or more hearings via Zoom (327 customer cases and 445 industry cases).

There are 579 total joint motions for virtual hearings. (243 in customer cases and 336 in industry cases).

Arbitration Statistics Through March

Year New Case Filings Cases Closed Open Cases Turnaround Time (in months)
2022 Total: 632
Customer: 369 (58%)
Intra-Industry: 263 (42%)
969 3,594 Overall*: 17.5
Regular Hearing Decisions: 18.2
Special Proceeding Decisions: 8.1
Paper Decisions: 5.0
2021 Total: 776
Customer: 523 (67%)
Intra-Industry: 253 (33%)
1,022 4,869 Overall*: 13.5
Regular Hearing Decisions: 17.0
Special Proceeding Decisions: 8.1
Paper Decisions: 6.3
2020 Total: 947
Customer: 493 (52%)
Intra-Industry: 454 (48%)
996 4,781 Overall*: 15.6
Regular Hearing Decisions: 16.2
Special Proceeding Decisions: 6.6
Paper Decisions: 5.1
2022 vs 2021 Total: -19%
Customer: -29%
Intra-Industry: 4%
-5% -26%  Overall*: +30%
Regular Hearing Decisions: +7%
Special Proceeding Decisions: 0%
Paper Decisions: -21%

* Includes cases closed for any reason.

Historical Statistics for Cases Filed and Closed 

Year Cases Filed Cases Closed
2022 632 969
2021 2,893 4,029
2020 3,902 3,564
2019 3,757 4,011
2018 4,325 3,756
2017 3,456 3,735
Year Cases Filed Cases Closed
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
2011 4,729 6,099
Year Cases Filed Cases Closed
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
2005 6,074 9,043

Top 15 Controversy Types in Customer Arbitrations

A single arbitration case may include multiple controversy types.

Controversy   2022 Cases served 2021 2020 2019 2018
Breach of Fiduciary Duty Through March 273 415 417 424 581
Year-End -- 1,445 1,714 2,053 2,290
Negligence Through March 256 391 369 395 486
Year-End -- 1,371 1,592 1,826 1,974
Failure to Supervise Through March 222 324 347 363 461
Year-End -- 1,218 1,433 1,731 1,935
Breach of Contract Through March 205 297 305 316 393
Year-End -- 1,110 1,292 1,563 1,711
Misrepresentation Through March 200 348 341 313 472
Year-End -- 1,181 1,384 1,688 1,775
Suitability Through March 184 271 324 315 478
Year-End -- 1,071 1,220 1,580 1,779
Omission of Facts Through March 166 308 301 287 409
Year-End -- 958 1,215 1,468 1,547
Fraud Through March 149 200 263 285 424
Year-End -- 744 918 1,499 1,707
Violation of Blue Sky Laws Through March 57 109 76 126 200
Year-End -- 355 338 657 810
Unauthorized Trading Through March 53 53 45 53 60
Year-End -- 160 190 197 245
Manipulation Through March 48 85 79 80 48
Year-End -- 285 316 384 302
Elder Abuse Through March 36 44 48 47 57
Year-End -- 162 172 207 216
Errors-charges Through March 26 50 18 15 22
Year-End -- 127 102 98 81
Churning Through March 24 24 42 47 52
Year-End -- 112 115 167 205
Margin Calls Through March 19 34 8 27 13
Year-End -- 76 68 88 85

Top 15 Security Types in Customer Arbitrations

A single arbitration case may include multiple security types.

SECURITY   2022 Cases Served 2021 2020 2019 2018
Common Stock Through March 88 136 82 126 181
Year-End -- 433 385 436 579
Real Estate Investment Trust Through March 52 125 64 50 36
Year-End -- 429 421 236 205
Private Equities Through March 37 44 66 34 29
Year-End -- 161 213 149 111
Options Through March 35 62 38 55 50
Year-End -- 157 180 204 150
Mutual Funds Through March 35 53 41 118 169
Year-End -- 161 177 526 731
Business Development Company Through March 22 70 9 8 3
Year-End -- 177 218 26 20
Limited Partnerships Through March 21 41 40 30 35
Year-End -- 134 146 128 144
Municipal Bond Funds Through March 15 19 50 134 195
Year-End -- 57 136 717 959
Corporate Bonds Through March 14 21 9 21 40
Year-End -- 57 79 74 135
Exchange-Traded Funds Through March 13 22 21 28 45
Year-End -- 76 95 138 167
Annuities Through March 12 21 21 25 25
Year-End -- 98 93 97 101
Variable Annuities Through March 11 24 25 22 21
Year-End -- 75 95 109 105
401(k) Through March 10 7 22 18 26
Year-End -- 41 73 58 94
Preferred Stock Through March 10 6 6 12 19
Year-End -- 31 37 40 59
Municipal Bonds Through March 9 17 61 136 211
Year-End -- 51 148 702 971

 

Top 15 Controversy Types in Intra-Industry Arbitrations

A single arbitration case may include multiple controversy types.

CONTROVERSY   2022 Cases Served 2021 2020 2019 2018
Breach of Contract Through March 51 79 88 87 81
Year-End -- 268 309 345 413
Promissory Notes Through March 20 37 91 52 72
Year-End -- 126 229 240 261
Libel, Slander, or Defamation Through March 20 14 35 42 45
Year-End -- 59 152 135 166
Libel or Slander on Form U-5 Through March 18 25 44 33 36
Year-End -- 89 148 119 135
Compensation Through March 15 24 42 38 34
Year-End -- 84 135 135 168
Wrongful Termination Through March 10 22 26 27 25
Year-End -- 62 101 102 122
Commissions Through March 10 14 21 19 19
Year-End -- 55 72 82 95
Raiding Disputes Through March 7 3 6 4 8
Year-End -- 13 28 21 37
Discrimination or Harassment* Through March 3 10 8 16 9
Year-End -- 36 38 46 38
Negligence Through March 2 2 3 12 14
Year-End -- 9 17 17 32
Breach of Fiduciary Duty Through March 1 6 8 11 18
Year-End -- 23 31 30 39
Misrepresentation Through March 1 3 15 18 34
Year-End -- 12 57 29 68
Omission of Facts Through March 1 3 7 10 5
Year-End -- 6 11 14 18
Failure to Supervise Through March 1 2 3 1 4
Year-End -- 3 10 7 11
Partnerships Through March 1 0 5 2 2
Year-End -- 3 15 15 13

* 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 2022 (% of Cases) 2021 2020 2019 2018
After Regular Hearing 154 (16%) 497 (12%) 335 (9%) 527 (13%) 517 (14%)
After Special Proceeding Hearing 9 (1%) 34 (1%) 13 (0%) 12 (0%) n/a
After Review of Documents (Paper Cases) 16 (2%) 102 (2%) 101 (3%) 96 (2%) 130 (4%)
Total 179 (19%) 633 (15%) 449 (13%) 635 (16%) 647 (17%)
Cases Resolved by Other Means 2022 (% of Cases) 2021 2020 2019 2018
Direct Settlement by Parties 479 (50%) 2,418 (59%) 2,060 (58%) 2,269 (57%) 2,005 (54%)
Settled via Mediation 179 (19%) 458 (11%) 477 (13%) 513 (13%) 493 (13%)
Withdrawn 70 (7%) 384 (9%) 329 (9%) 343 (9%) 333 (9%)
All Others 58 (6%) 216 (5%) 243 (7%) 203 (5%) 233 (6%)
Total 786 (81%) 3,476 (85%) 3,109 (87%) 3,328 (84%) 3,064 (83%)

Results of Customer Claimant Arbitration Award Cases

Year Decided All Customer Claimant Cases Decided (Hearings, Special Procedures & Paper) Percentage Decided of All Customer Claimant Cases Closed Percentage (and Number) of Cases where Customer Awarded Damages
2022 96 15% 32% (31 cases)
2021 328 13% 31% (103 cases)
2020 193 9% 32% (62 cases)
2019 313 13% 45% (141 cases)
2018 359 15% 40% (145 cases)
2017 352 14% 43% (151 cases)
2016 389 16% 41% (158 cases)

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

Year Decided Customer Claimant Cases Decided (Hearing Only) Hearing Customer Claimant Cases Where Customer Awarded Damages Hearing Customer Claimant Not Awarded Damages Percentage of Customer Award Hearing Cases
2022 73 23 50 32%
2021 231 86 145 37%
2020 120 41 79 34%
2019 241 109 132 45%
2018 274 115 159 42%
2017 272 122 150 45%
2016 272 114 158 42%

*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 Decided Customer Claimant Cases Decided Customer Claimant Cases Where Customer Awarded Damages Customer Claimant Not Awarded Damages Percentage of Customer Claimant Cases Where Customer Awarded Damages
2022 39 17 22 44%
2021 136 60 76 44%
2020 30 12 18 40%

*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 Decided Customer Claimant Cases Decided Customer Claimant Cases Where Customer Awarded Damages Customer Claimant Not Awarded Damages Percentage of Customer Claimant Cases Where Customer Awarded Damages
2022 13 4 9 31%
2021 46 22 24 48%
2020 34 17 17 50%

*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 Decided Customer Claimant Cases Decided (Special Proceeding Only) Special Proceeding Customer Claimant Cases Where Customer Awarded Damages Special Proceeding Customer Claimant Not Awarded Damages Percentage of Customer Award Special Proceeding Cases
2022 9 4 5 44%
2021 16 2 14 13%
2020 5 1 4 20%
2019 8 1 7 13%

Result of Customer Claimant Arbitration Award Cases (Paper Only)

Year Decided Customer Claimant Cases Decided (Paper Only) Paper Customer Claimant Cases Where Customer Awarded Damages Customer Claimant Not Awarded Damages Percentage of Customer Award Paper Cases
2022 14 4 10 29%
2021 81 15 66 19%
2020 68 20 48 29%
2019 64 31 33 48%
2018 85 30 55 35%
2017 80 29 51 36%
2016 117 44 73 38%

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
2022 45 36% (16 cases) 14 21% (3 cases)
2021 139 39% (54 cases) 46 30% (14 cases)
2020 76 33% (25 cases) 26 23% (6 cases)
2019 149 53% (79 cases) 47 28% (13 cases)
2018 158 42% (67 cases) 58 47% (27 cases)
2017 137 48% (66 cases) 71 37% (26 cases)
2016 145 43% (63 cases) 72 36% (26 cases)

Arbitrators by Type and Location

Arbitrator Type Total
Public 4,019
Non-Public 4,342
Total 8,361

Number of Cases and Arbitrators* per Hearing Location Through March

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 213 744 643

Mediation Statistics Through March

Year Cases in Agreement Cases Closed (Percent Settled) Turnaround Time (in days)
2022 236 165 (92%) 182
2021 105 120 (80%) 118
2020 148 172 (89%) 114
2022 vs 2021 +125% +38%  +54% 

Pre-Arbitration Requests for Mediation Through March

Year to Date Number of Requests* Parties Agreed (%)
2022 47 6 (13%)
2021 71 16 (23%)
2020 27 9 (33%)

* 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.