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Virtual Arbitration Hearing Statistics Through July

Contested Motions for Virtual Hearings Granted Denied Open Total
Customer 253 (61%) 160 (39%) 10 423
Intra-Industry 129 (75%) 44 (25%) 2 175
Total Customer and Intra-Industry 382 (65%) 204 (35%) 12 598

Since the postponement of in-person hearings, and as of July 31, 946 arbitration cases have conducted one or more hearings via Zoom (403 customer cases and 543 industry cases).

There are 673 total joint motions for virtual hearings. (292 in customer cases and 381 in industry cases).

Arbitration Statistics Through July

Year New Case Filings Cases Closed Open Cases Turnaround Time (in months)
2022 Total: 1,474
Customer: 916 (62%)
Intra-Industry: 558 (38%)
2,149 3,236 Overall*: 17.9
Regular Hearing Decisions: 20.1
Special Proceeding Decisions: 7.6
Paper Decisions: 5.1
2021 Total: 1,807
Customer: 1,196 (66%)
Intra-Industry: 611 (34%)
2,366 4,548 Overall*: 14.2
Regular Hearing Decisions: 15.3
Special Proceeding Decisions: 8.3
Paper Decisions: 5.6
2020 Total: 2,266
Customer: 1,193 (53%)
Intra-Industry: 1,073 (47%)
2,028 5,062 Overall*: 15.2
Regular Hearing Decisions: 14.4
Special Proceeding Decisions: 7.0
Paper Decisions: 5.4
2022 vs 2021 Total: -18%
Customer: -23%
Intra-Industry: -9%
-9% -29%  Overall*: +26%
Regular Hearing Decisions: +31%
Special Proceeding Decisions: -8%
Paper Decisions: -9%

* Includes cases closed for any reason.

Historical Statistics for Cases Filed and Closed 

Year Cases Filed Cases Closed
2022 1,474 2,149
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 July 705 925 995 1,138 1,339
Year-End -- 1,445 1,714 2,053 2,290
Negligence Through July 641 867 914 1,021 1,127
Year-End -- 1,371 1,592 1,826 1,974
Failure to Supervise Through July 566 766 838 954 1,110
Year-End -- 1,218 1,433 1,731 1,935
Breach of Contract Through July 527 721 736 850 963
Year-End -- 1,110 1,292 1,563 1,711
Misrepresentation Through July 519 772 793 885 1,092
Year-End -- 1,181 1,384 1,688 1,775
Suitability Through July 503 651 732 836 1,127
Year-End -- 1,071 1,220 1,580 1,779
Omission of Facts Through July 421 627 699 790 939
Year-End -- 958 1,215 1,468 1,547
Fraud Through July 375 476 582 819 984
Year-End -- 744 918 1,499 1,707
Violation of Blue Sky Laws Through July 185 236 180 344 460
Year-End -- 355 338 657 810
Manipulation Through July 138 188 200 200 147
Year-End -- 285 316 384 302
Elder Abuse Through July 101 94 115 119 130
Year-End -- 162 172 207 216
Unauthorized Trading Through July 87 107 105 119 148
Year-End -- 160 190 197 245
Breach of Regulation BI* Through July 81 -- -- -- --
Year-End -- -- -- -- --
Errors-charges Through July 60 87 55 41 48
Year-End -- 127 102 98 81
Mark-ups Through July 48 44 25 29 19
Year-End -- 72 39 63 36

*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.

SECURITY   2022 Cases Served 2021 2020 2019 2018
Common Stock Through July 181 288 239 275 366
Year-End -- 433 385 436 579
Real Estate Investment Trust Through July 123 278 177 132 107
Year-End -- 429 421 236 205
Corporate Bonds Through July 106 36 46 47 76
Year-End -- 57 79 74 135
Private Equities Through July 85 93 166 74 64
Year-End -- 161 213 149 111
Mutual Funds Through July 78 108 111 306 400
Year-End -- 161 177 526 731
Options Through July 65 100 108 126 110
Year-End -- 157 180 204 150
Limited Partnerships Through July 65 83 100 64 82
Year-End -- 134 146 128 144
Business Development Company Through July 55 127 35 14 8
Year-End -- 177 218 26 20
Annuities Through July 38 50 48 57 57
Year-End -- 98 93 97 101
Exchange-Traded Funds Through July 29 46 60 69 110
Year-End -- 76 95 138 167
Variable Annuities Through July 27 48 59 64 65
Year-End -- 75 95 109 105
Municipal Bond Funds Through July 26 35 88 399 521
Year-End -- 57 136 717 959
401(k) Through July 21 20 46 31 52
Year-End -- 41 73 58 94
Preferred Stock Through July 20 19 23 22 35
Year-End -- 31 37 40 59
Municipal Bonds Through July 19 32 108 392 534
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 July 130 163 195 203 215
Year-End -- 268 309 345 413
Libel or Slander on Form U-5 Through July 54 53 90 68 79
Year-End -- 89 148 119 135
Promissory Notes Through July 51 77 158 140 150
Year-End -- 126 229 240 261
Compensation Through July 51 49 88 85 95
Year-End -- 84 135 135 168
Libel, Slander, or Defamation Through July 43 32 97 79 101
Year-End -- 59 152 135 166
Wrongful Termination Through July 35 37 64 63 78
Year-End -- 62 101 102 122
Commissions Through July 25 31 46 45 52
Year-End -- 55 72 82 95
Discrimination or Harassment* Through July 18 21 27 29 26
Year-End -- 36 38 46 38
Raiding Disputes Through July 16 11 17 11 21
Year-End -- 13 28 21 37
Breach of Fiduciary Duty Through July 11 13 19 23 27
Year-End -- 23 31 30 39
Fraud Through July 7 3 12 9 15
Year-End -- 8 16 11 24
Negligence Through July 7 2 9 15 24
Year-End -- 9 17 17 32
Misrepresentation Through July 5 4 34 26 45
Year-End -- 12 57 29 68
Suitability Through July 5 3 51 15 55
Year-End -- 5 82 17 63
Omission of Facts Through July 4 3 9 13 10
Year-End -- 6 11 14 18

* 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 343 (16%) 497 (12%) 335 (9%) 527 (13%) 517 (14%)
After Special Proceeding Hearing 15 (1%) 34 (1%) 13 (0%) 12 (0%) n/a
After Review of Documents (Paper Cases) 43 (2%) 102 (2%) 101 (3%) 96 (2%) 130 (4%)
Total 401 (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 1,047 (49%) 2,418 (59%) 2,060 (58%) 2,269 (57%) 2,005 (54%)
Settled via Mediation 349 (18%) 458 (11%) 477 (13%) 513 (13%) 493 (13%)
Withdrawn 183 (9%) 384 (9%) 329 (9%) 343 (9%) 333 (9%)
All Others 111 (5%) 216 (5%) 243 (7%) 203 (5%) 233 (6%)
Total 1,735 (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 202 14% 36% (73 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 158 60 98 38%
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 78 38 40 49%
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 43 18 25 42%
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 12 4 8 33%
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 32 9 23 28%
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 98 43% (42 cases) 35 26% (9 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 4,085
Non-Public 4,401
Total 8,486

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

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 210 734 639

Mediation Statistics Through July

Year Cases in Agreement Cases Closed (Percent Settled) Turnaround Time (in days)
2022 527 419 (89%) 117
2021 262 297 (87%) 142
2020 266 343 (88%) 117
2022 vs 2021 +101% +41%  -18% 

Pre-Arbitration Requests for Mediation Through July

Year to Date Number of Requests* Parties Agreed (%)
2022 112 27 (24%)
2021 126 22 (17%)
2020 96 19 (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.