2018 Dispute Resolution Statistics

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Arbitration Statistics Through December

Year New Case Filings Cases Closed Open Cases Turnaround Time (in months)
2018 Total: 4,325
Customer: 2,713 (63%)
Intra-Industry: 1,612 (37%)		 3,756 5,012 Overall: 14.2
Hearing Decisions: 16.5
Simplified Decisions: 6.5
2017 Total: 3,456
Customer: 2,267 (66%)
Intra-Industry: 1,189 (34%)		 3,735 4,438 Overall: 14.5
Hearing Decisions: 17.0
Simplified Decisions: 6.5
2016 Total: 3,681
Customer: 2,515 (68%)
Intra-Industry: 1.166 (32%)		 3,635 4,679 Overall: 15.2
Hearing Decisions: 16.7
Simplified Decisions: 7.0
2018 vs 2017 Total: +25% 
Customer: +20% 
Intra-Industry: +36% 		 +1% +13%  Overall: -2%
Hearing Decisions: -3%
Simplified Decisions: 0%

Historical Statistics for Cases Filed and Closed 

Year Cases Filed Cases Closed
2018 4,325 3,756
2017 3,456 3,735
2016 3,681 3,635
2015 3,435 3,489
2014 3,822 3,838
2013 3,714 4,498
Year Cases Filed Cases Closed
2012 4,299 4,877
2011 4,729 6,099
2010 5,680 6,241
2009 7,137 4,571
2008 4,982 3,757
2007 3,238 5,345
Year Cases Filed Cases Closed
2006 4,614 7,212
2005 6,074 9,043
2004 8,201 9,209
2003 8,945 7,278
2002 7,704 5,957

Top 15 Controversy Types in Customer Arbitrations

A single arbitration case may include multiple controversy types.

Controversy Time Period 2018 Cases served 2017 2016 2015 2014
Breach of Fiduciary Duty Through December 2,290 1,899 2,002 1,807 2,064
Year-End -- 1,899 2,002 1,807 2,064
Negligence Through December 1,974 1,662 1,862 1,677 1,977
Year-End -- 1,662 1,862 1,677 1,977
Failure to Supervise Through December 1,935 1,621 1,802 1,554 1,733
Year-End -- 1,621 1,802 1,554 1,733
Suitability Through December 1,779 1,606 1,606 1,364 1,401
Year-End -- 1,606 1,606 1,364 1,401
Misrepresentation Through December 1,775 1,663 1,670 1,499 1,593
Year-End -- 1,663 1,670 1,499 1,593
Breach of Contract Through December 1,711 1,318 1,495 1,444 1,755
Year-End -- 1,318 1,495 1,444 1,755
Fraud Through December 1,707 1,389 1,301 1,089 41
Year-End -- 1,389 1,301 1,089 41
Omission of Facts Through December 1,547 1,493 1,394 1,216 1,384
Year-End -- 1,493 1,394 1,216 1,384
Violation of Blue Sky Laws* Through December 810 547 344 236 --
Year-End -- 547 344 236 --
Manipulation Through December 302 299 236 208 173
Year-End -- 299 236 208 173
Unauthorized Trading Through December 245 263 362 264 239
Year-End -- 263 362 264 239
Elder Abuse* Through December 216 61 -- -- --
Year-End -- 61 -- -- --
Churning Through December 205 219 254 247 213
Year-End -- 219 254 247 213
Margin Calls Through December 85 62 84 97 83
Year-End -- 62 84 97 83
Errors-charges Through December 81 66 56 64 71
Year-End -- 66 56 64 71

* 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 Time Period 2018 Cases served 2017 2016 2015 2014
Municipal Bonds Through December 971 565 433 559 553
Year-End -- 565 433 559 553
Municipal Bond Funds Through December 959 558 480 607 684
Year-End -- 558 480 607 684
Mutual Funds Through December 731 447 352 373 369
Year-End -- 447 352 373 369
Common Stock Through December 579 604 646 610 572
Year-End -- 604 646 610 572
Government Securities Through December 519 229 96 169 31
Year-End -- 229 96 169 31
Real Estate Investment Trust Through December 205 177 184 191 232
Year-End -- 177 184 191 232
Exchange-Traded Funds Through December 167 131 133 127 120
Year-End -- 131 133 127 120
Options Through December 150 127 124 128 143
Year-End -- 127 124 128 143
Limited Partnerships Through December 144 183 199 79 82
Year-End -- 183 199 79 82
Corporate Bonds Through December 135 119 154 194 66
Year-End -- 119 154 194 66
Private Equities Through December 111 111 114 92 77
Year-End -- 111 114 92 77
Variable Annuities Through December 105 129 115 104 116
Year-End -- 129 115 104 116
Annuities Through December 101 115 127 81 105
Year-End -- 115 127 81 105
401(k)* Through December 94 69 27 -- --
Year-End -- 69 27 -- --
Structured Products Through December 78 45 57 25 21
Year-End -- 45 57 25 21

* These categories were not tracked for the years in which no data appears.

Top 15 Controversy Types in Intra-Industry Arbitrations

A single arbitration case may include multiple controversy types.

CONTROVERSY Time Period 2018 CASES SERVED 2017 2016 2015 2014
Breach of Contract Through December 413 403 389 373 374
Year-End -- 403 389 373 374
Promissory Notes Through December 261 296 401 401 476
Year-End -- 296 401 401 476
Compensation Through December 168 161 163 140 146
Year-End -- 161 163 140 146
Libel, Slander, or Defamation Through December 166 117 124 115 99
Year-End -- 117 124 115 99
Libel or Slander on Form U-5 Through December 135 136 124 119 110
Year-End -- 136 124 119 110
Wrongful Termination Through December 122 116 127 123 79
Year-End -- 116 127 123 79
Commissions Through December 95 103 60 73 77
Year-End -- 103 60 73 77
Misrepresentation Through December 68 54 21 17 33
Year-End -- 54 21 17 33
Suitability Through December 63 59 15 1 2
Year-End -- 59 15 1 2
Breach of Fiduciary Duty Through December 39 52 18 28 52
Year-End -- 52 18 28 52
Discrimination or Harassment* Through December 38 37 58 54 43
Year-End -- 37 58 54 43
Raiding Disputes Through December 37 33 42 40 39
Year-End -- 33 42 40 39
Negligence Through December 32 25 17 21 25
Year-End -- 25 17 21 25
Fraud Through December 24 26 11 13 1
Year-End -- 26 11 13 1
Indemnification Through December 20 25 14 12 16
Year-End -- 25 14 12 16

* 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 2018 (% of Cases) 2017 2016 2015 2014
After Hearing 517 (14%) 512 (14%) 593 (16%) 646 (19%) 683 (18%)
After Review of Documents 130 (4%) 135 (4%) 157 (4%) 182 (5%) 208 (5%)
Total 647 (17%) 647 (18%) 750 (21%) 828 (24%) 891 (23%)
Cases Resolved by Other Means 2018 (% of Cases) 2017 2016 2015 2014
Direct Settlement by Parties 2,005 (54%) 1,964 (53%) 1,812 (50%) 1,716 (50%) 1,942 (51%)
Settled via Mediation 493 (13%) 493 (13%) 433 (12%) 306 (9%) 329 (9%)
Withdrawn 333 (9%) 348 (9%) 341 (9%) 317 (9%) 358 (9%)
All Others 233 (6%) 240 (7%) 275 (8%) 294 (8%) 290 (8%)
Total 3,064 (83%) 3,045 (82%) 2,861 (79%) 2,633 (76%) 2,919 (77%)

Results of Customer Claimant Arbitration Award Cases

Year Decided All Customer Claimant Cases Decided (Hearings & Paper) Percentage Decided of All Customer Claimant Cases Closed Percentage (and Number) of Cases where Customer Awarded Damages
2018 359 15% 40% (145 cases)
2017 352 14% 43% (151 cases)
2016 389 16% 41% (158 cases)
2015 455 20% 42% (190 cases)
2014 465 19% 38% (177 cases)
2013 499 18% 42% (212 cases)

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
2018 85 30 55 35%
2017 80 29 51 36%
2016 117 44 73 38%
2015 136 45 91 33%
2014 160 49 111 31%
2013 122 45 77 37%

Result of Customer Claimant Arbitration Award Cases (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
2018 274 115 159 42%
2017 272 122 150 45%
2016 272 114 158 42%
2015 319 145 174 45%
2014 305 128 177 42%
2013 377 167 210 44%

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
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)
2015 163 47% (77 cases) 84 45% (38 cases)
2014 135 44% (59 cases) 104 38% (39 cases)
2013 128 43% (55 cases) 107 44% (47 cases)

Arbitrators by Type and Location

Arbitrator Type Total
Public 3,490
Non-Public 4,240
Total 7,730

Mediation Statistics Through December

Year Cases in Agreement Cases Closed (Percent Settled) Turnaround Time (in days)
2018 509 669 (78%) 115
2017 619 728 (82%) 105
2016 594 612 (80%) 114
2018 vs 2017 -18%  -8%  +10%