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Dispute Resolution Statistics

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Virtual Arbitration Hearing Statistics Through September

Contested Motions for Virtual Hearings Granted Denied Open Total
Customer 205 (60%) 134 (40%) 11 350
Intra-Industry 92 (74%) 33 (26%) 5 130
Total Customer and Intra-Industry 297 (64%) 167 (36%) 16 480

Since the postponement of in-person hearings, and as of September 30, 497 arbitration cases have conducted one or more hearings via Zoom (191 customer cases and 306 industry cases).

There are 407 total joint motions for virtual hearings. (158 in customer cases and 249 in industry cases).

Arbitration Statistics Through September

Year New Case Filings Cases Closed Open Cases Turnaround Time (in months)
2021 Total: 2,301
Customer: 1,524 (66%)
Intra-Industry: 777 (34%)
3,092 4,343 Overall*: 14.7
Regular Hearing Decisions: 16.6
Special Proceeding Decisions: 8.5
Paper Decisions: 5.2
2020 Total: 3,152
Customer: 1,553 (49%)
Intra-Industry: 1,599 (51%)
2,582 5,392 Overall*: 14.9
Regular Hearing Decisions: 14.2
Special Proceeding Decisions: 6.8
Paper Decisions: 5.4
2019 Total: 2,888
Customer: 1,859 (64%)
Intra-Industry: 1,029 (36%)
2,978 4,958 Overall*: 14.1
Regular Hearing Decisions: 17.4
Special Proceeding Decisions: 6.6
Paper Decisions: 5.9
2021 vs 2020 Total: -27%
Customer: -2%
Intra-Industry: -51%
+20% -19%  Overall*: -1%
Regular Hearing Decisions: +17%
Special Proceeding Decisions: +25%
Paper Decisions: -4%

* Includes cases closed for any reason.

Historical Statistics for Cases Filed and Closed 

Year Cases Filed Cases Closed
2021 2,301 3,092
2020 3,902 3,564
2019 3,757 4,011
2018 4,325 3,756
2017 3,456 3,735
2016 3,681 3,635
Year Cases Filed Cases Closed
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
2010 5,680 6,241
Year Cases Filed Cases Closed
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
2004 8,201 9,209

Top 15 Controversy Types in Customer Arbitrations

A single arbitration case may include multiple controversy types.

Controversy   2021 Cases served 2020 2019 2018 2017
Breach of Fiduciary Duty Through September 1,163 1,280 1,618 1,753 1,400
Year-End -- 1,714 2,053 2,290 1,899
Negligence Through September 1,097 1,174 1,442 1,502 1,235
Year-End -- 1,592 1,826 1,974 1,662
Failure to Supervise Through September 977 1,069 1,368 1,480 1,206
Year-End -- 1,433 1,731 1,935 1,621
Misrepresentation Through September 970 1,007 1,321 1,377 1,207
Year-End -- 1,384 1,688 1,775 1,663
Breach of Contract Through September 893 964 1,231 1,292 982
Year-End -- 1,292 1,563 1,711 1,318
Suitability Through September 846 937 1,245 1,412 1,178
Year-End -- 1,220 1,580 1,779 1,606
Omission of Facts Through September 787 894 1,167 1,187 1,090
Year-End -- 1,215 1,468 1,547 1,493
Fraud Through September 604 723 1,210 1,291 1,008
Year-End -- 918 1,499 1,707 1,389
Violation of Blue Sky Laws Through September 292 221 568 621 384
Year-End -- 338 657 810 547
Manipulation Through September 237 248 287 213 229
Year-End -- 316 384 302 299
Unauthorized Trading Through September 123 134 147 186 214
Year-End -- 190 197 245 263
Elder Abuse Through September 119 136 158 174 9
Year-End -- 172 207 216 61
Errors-charges Through September 106 69 71 62 51
Year-End -- 102 98 81 66
Churning Through September 85 91 126 162 187
Year-End -- 115 167 205 219
Execution Error Through September 66 62 37 59 43
Year-End -- 91 51 75 53

Top 15 Security Types in Customer Arbitrations

A single arbitration case may include multiple security types.

Security   2021 Cases served 2020 2019 2018 2017
Real Estate Investment Trust Through September 357 272 168 146 143
Year-End -- 421 236 205 177
Common Stock Through September 350 292 336 457 458
Year-End -- 385 436 579 604
Business Development Company Through September 152 97 16 13 11
Year-End -- 218 26 20 14
Mutual Funds Through September 137 140 457 561 312
Year-End -- 177 526 731 447
Options Through September 126 136 158 128 93
Year-End -- 180 204 150 127
Private Equities Through September 122 185 101 78 92
Year-End -- 213 149 111 111
Limited Partnerships Through September 107 119 87 109 137
Year-End -- 146 128 144 183
Annuities Through September 69 67 78 75 87
Year-End -- 93 97 101 115
Variable Annuities Through September 61 74 88 78 101
Year-End -- 95 109 105 129
Exchange-Traded Funds Through September 54 71 102 140 115
Year-End -- 95 138 167 131
Municipal Bond Funds Through September 45 108 631 721 360
Year-End -- 136 717 959 558
Corporate Bonds Through September 43 62 59 108 92
Year-End -- 79 74 135 119
Municipal Bonds Through September 38 126 609 742 359
Year-End -- 148 702 971 565
401(k) Through September 28 59 41 74 56
Year-End -- 73 58 94 69
Hedge Fund Through September 27 15 13 14 11
Year-End -- 19 13 21 16

Top 15 Controversy Types in Intra-Industry Arbitrations

A single arbitration case may include multiple controversy types.

CONTROVERSY   2021 Cases Served 2020 2019 2018 2017
Breach of Contract Through September 210 242 252 287 301
Year-End -- 309 345 413 403
Promissory Notes Through September 96 184 181 195 213
Year-End -- 229 240 261 296
Libel or Slander on Form U-5 Through September 67 115 92 99 102
Year-End -- 148 119 135 136
Compensation Through September 63 106 104 115 121
Year-End -- 135 135 168 161
Wrongful Termination Through September 47 78 78 92 91
Year-End -- 101 102 122 116
Libel, Slander, or Defamation Through September 43 137 101 130 85
Year-End -- 152 135 166 117
Commissions Through September 42 54 57 62 79
Year-End -- 72 82 95 103
Discrimination or Harassment* Through September 28 32 37 30 25
Year-End -- 38 46 38 37
Breach of Fiduciary Duty Through September 15 28 25 29 37
Year-End -- 31 30 39 52
Raiding Disputes Through September 13 21 17 27 23
Year-End -- 28 21 37 33
Misrepresentation Through September 8 54 26 47 31
Year-End -- 57 29 68 54
Negligence Through September 6 15 15 26 16
Year-End -- 17 17 32 25
Collection Through September 6 0 3 1 3
Year-End -- 0 3 2 3
Fraud Through September 5 14 8 18 16
Year-End -- 16 11 24 26
Suitability Through September 3 81 15 56 37
Year-End -- 82 17 63 59

* 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 2021 (% of Cases) 2020 2019 2018 2017
After Regular Hearing 335 (11%) 335 (9%) 527 (13 %) 517 (14%) 512 (14%)
After Special Proceeding Hearing 25 (1%) 13 (0%) 12 (0%) n/a n/a
After Review of Documents (Paper Cases) 75 (2%) 101 (3%) 96 (2%) 130 (4%) 135 (4%)
Total 435 (14%) 449 (13%) 635 (16%) 647 (17%) 647 (18%)
Cases Resolved by Other Means 2021 (% of Cases) 2020 2019 2018 2017
Direct Settlement by Parties 1,881 (61%) 2,060 (58%) 2,269 (57%) 2,005 (54%) 1,964 (53%)
Settled via Mediation 310 (10%) 477 (13%) 513 (13%) 493 (13%) 493 (13%)
Withdrawn 287 (9%) 329 (9%) 343 (9%) 333 (9%) 348 (9%)
All Others 163 (5%) 243 (7%) 203 (5%) 233 (6%) 240 (7%)
Total 2,641 (86%) 3,109 (87%) 3,328 (84 %) 3,064 (83%) 3,045 (82%)

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
2021 214 12% 31% (66 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
2021 144 54 90 38%
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 Award
2021 86 40 46 47%
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 Award
2021 22 11 11 50%
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
2021 12 2 10 17%
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
2021 57 10 47 18%
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
2021 83 41% (34 cases) 32 25% (8 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 4,009
Non-Public 4,414
Total 8,423

Number of Cases and Arbitrators* per Hearing Location Through September

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 222 767 695

Mediation Statistics Through September

Year Cases in Agreement Cases Closed (Percent Settled) Turnaround Time (in days)
2021 395 397 (89%) 180
2020 306 432 (83%) 107
2019 437 441 (87%) 93
2021 vs 2020 +29% -8%  +68% 

Pre-Arbitration Requests for Mediation Through September

Year to Date Number of Requests* Parties Agreed (%)
2021 156 24 (15%)
2020 142 31 (22%)
2019 98 28 (29%)

* 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.