2020 Dispute Resolution Statistics
On This Page
- Virtual Arbitration Hearing Statistics
- Arbitration Statistics Through December
- Historical Statistics for Cases Filed and Closed
- Top 15 Controversy Types in Customer Arbitrations
- Top 15 Security Types in Customer Arbitrations
- Top 15 Controversy Types in Intra-Industry Arbitrations
- How Arbitration Cases Close
- Results of Customer Claimant Arbitration Award Cases
- Result of Customer Claimant Arbitration Award Cases (Regular Hearing Only)
- Result of Customer Claimant Arbitration Award Cases (Special Proceeding Hearing Only)
- Result of Customer Claimant Arbitration Award Cases (Paper Only)
- Results of All-Public Panels and Majority Public Panels in Customer Cases
- Arbitrators by Type and Location
- Mediation Statistics Through December
- Pre-Arbitration Requests for Mediation Through December
- View Previous Year-End Statistics
Virtual Arbitration Hearing Statistics Through December
| Contested Motions for Virtual Hearings | Granted | Denied | Open | Total |
|---|---|---|---|---|
| Customer | 128 (69%) | 58 (31%) | 36 | 222 |
| Intra-Industry | 38 (73%) | 14 (27%) | 10 | 62 |
| Total Customer and Intra-Industry | 166 (70%) | 72 (30%) | 46 | 284 |
Since the postponement of in-person hearings, and as of December 31, 138 arbitration cases have conducted one or more hearings via Zoom (55 customer cases and 83 industry cases).
There are 155 total joint motions for virtual hearings. (50 in customer cases and 105 in industry cases).
Arbitration Statistics Through December
| Year | New Case Filings | Cases Closed | Open Cases | Turnaround Time (in months) |
|---|---|---|---|---|
| 2020 | Total: 3,902 Customer: 2,081 (53%) Intra-Industry: 1,821 (47%) |
3,564 | 5,138 | Overall*: 14.5 Regular Hearing Decisions: 14.7 Special Proceeding Decisions: 7.1 Paper Decisions: 5.4 |
| 2019 | Total: 3,757 Customer: 2,363 (63%) Intra-Industry: 1,394 (37%) |
4,011 | 4,808 | Overall*: 14.2 Regular Hearing Decisions: 16.9 Special Proceeding Decisions: 7.0 Paper Decisions: 5.8 |
| 2018 | Total: 4,325 Customer: 2,713 (63%) Intra-Industry: 1,612 (37%) |
3,756 | 5,012 | Overall*: 14.2 Regular Hearing Decisions: 16.5 Special Proceeding Decisions: N/A Paper Decisions: 6.5 |
| 2020 vs 2019 | Total: +4% Customer: -12% Intra-Industry: +31% |
-11% | +7% | Overall*: +2% Regular Hearing Decisions: -13% Special Proceeding Decisions: +1% Paper Decisions: -7% |
* Includes cases closed for any reason.
Historical Statistics for Cases Filed and Closed
| Year | Cases Filed | Cases Closed |
|---|---|---|
| 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 |
| 2015 | 3,435 | 3,489 |
| Year | Cases Filed | Cases Closed |
|---|---|---|
| 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 |
| 2009 | 7,137 | 4,571 |
| Year | Cases Filed | Cases Closed |
|---|---|---|
| 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 |
| 2003 | 8,945 | 7,278 |
Top 15 Controversy Types in Customer Arbitrations
A single arbitration case may include multiple controversy types.
| Controversy | Time Period | 2020 Cases served | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|
| Breach of Fiduciary Duty | Through December | 1,714 | 2,053 | 2,290 | 1,899 | 2,002 |
| Year-End | -- | 2,053 | 2,290 | 1,899 | 2,002 | |
| Negligence | Through December | 1,592 | 1,826 | 1,974 | 1,662 | 1,862 |
| Year-End | -- | 1,826 | 1,974 | 1,662 | 1,862 | |
| Failure to Supervise | Through December | 1,433 | 1,731 | 1,935 | 1,621 | 1,802 |
| Year-End | -- | 1,731 | 1,935 | 1,621 | 1,802 | |
| Misrepresentation | Through December | 1,384 | 1,688 | 1,775 | 1,663 | 1,670 |
| Year-End | -- | 1,688 | 1,775 | 1,663 | 1,670 | |
| Breach of Contract | Through December | 1,292 | 1,563 | 1,711 | 1,318 | 1,495 |
| Year-End | -- | 1,563 | 1,711 | 1,318 | 1,495 | |
| Suitability | Through December | 1,220 | 1,580 | 1,779 | 1,606 | 1,606 |
| Year-End | -- | 1,580 | 1,779 | 1,606 | 1,606 | |
| Omission of Facts | Through December | 1,215 | 1,468 | 1,547 | 1,493 | 1,606 |
| Year-End | -- | 1,468 | 1,547 | 1,493 | 1,606 | |
| Fraud | Through December | 918 | 1,499 | 1,707 | 1,389 | 1,301 |
| Year-End | -- | 1,499 | 1,707 | 1,389 | 1,301 | |
| Violation of Blue Sky Laws | Through December | 338 | 657 | 810 | 547 | 344 |
| Year-End | -- | 657 | 810 | 547 | 344 | |
| Manipulation | Through December | 316 | 384 | 302 | 299 | 236 |
| Year-End | -- | 384 | 302 | 299 | 236 | |
| Unauthorized Trading | Through December | 190 | 197 | 245 | 263 | 362 |
| Year-End | -- | 197 | 245 | 263 | 362 | |
| Elder Abuse* | Through December | 172 | 207 | 216 | 61 | -- |
| Year-End | -- | 207 | 216 | 61 | -- | |
| Churning | Through December | 115 | 167 | 205 | 219 | 254 |
| Year-End | -- | 167 | 205 | 219 | 254 | |
| Errors-charges | Through December | 102 | 98 | 81 | 66 | 56 |
| Year-End | -- | 98 | 81 | 66 | 56 | |
| Execution Error | Through December | 91 | 51 | 75 | 53 | 85 |
| Year-End | -- | 51 | 75 | 53 | 85 |
* 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 | 2020 Cases served | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|
| Real Estate Investment Trust | Through December | 421 | 236 | 205 | 177 | 184 |
| Year-End | -- | 236 | 205 | 177 | 184 | |
| Common Stock | Through December | 385 | 436 | 579 | 604 | 646 |
| Year-End | -- | 436 | 579 | 604 | 646 | |
| Business Development Company | Through December | 218 | 26 | 20 | 14 | -- |
| Year-End | -- | 26 | 20 | 14 | -- | |
| Private Equities | Through December | 213 | 149 | 111 | 111 | 114 |
| Year-End | -- | 149 | 111 | 111 | 114 | |
| Options | Through December | 180 | 204 | 150 | 127 | 124 |
| Year-End | -- | 204 | 150 | 127 | 124 | |
| Mutual Funds | Through December | 177 | 526 | 731 | 447 | 352 |
| Year-End | -- | 526 | 731 | 447 | 352 | |
| Municipal Bonds | Through December | 148 | 702 | 971 | 565 | 433 |
| Year-End | -- | 702 | 971 | 565 | 433 | |
| Limited Partnerships | Through December | 146 | 128 | 144 | 183 | 199 |
| Year-End | -- | 128 | 144 | 183 | 199 | |
| Municipal Bond Funds | Through December | 136 | 717 | 959 | 558 | 480 |
| Year-End | -- | 717 | 959 | 558 | 480 | |
| Exchange-Traded Funds | Through December | 95 | 138 | 167 | 131 | 133 |
| Year-End | -- | 138 | 167 | 131 | 133 | |
| Variable Annuities | Through December | 95 | 109 | 105 | 129 | 115 |
| Year-End | -- | 109 | 105 | 129 | 115 | |
| Annuities | Through December | 93 | 87 | 101 | 115 | 127 |
| Year-End | -- | 97 | 101 | 115 | 127 | |
| Corporate Bonds | Through December | 79 | 74 | 135 | 119 | 154 |
| Year-End | -- | 74 | 135 | 119 | 154 | |
| 401(k) | Through December | 73 | 58 | 94 | 69 | 27 |
| Year-End | -- | 58 | 94 | 69 | 27 | |
| Government Securities | Through December | 56 | 431 | 519 | 229 | 96 |
| Year-End | -- | 431 | 519 | 229 | 96 |
* 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.
Breach of Contract Promissory Notes Libel, Slander, or Defamation Libel or Slander on Form U-5 Compensation Wrongful Termination Suitability Commissions Misrepresentation Discrimination or Harassment* Breach of Fiduciary Duty Raiding Disputes Negligence Fraud Partnerships
| CONTROVERSY | Time Period | 2020 Cases Served | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|
| Breach of Contract | Through December | 309 | 345 | 413 | 403 | 389 |
| Year-End | -- | 345 | 413 | 403 | 389 | |
| Promissory Notes | Through December | 229 | 240 | 261 | 296 | 401 |
| Year-End | -- | 240 | 261 | 296 | 401 | |
| Libel, Slander, or Defamation | Through December | 152 | 135 | 166 | 117 | 124 |
| Year-End | -- | 135 | 166 | 117 | 124 | |
| Libel or Slander on Form U-5 | Through December | 148 | 119 | 135 | 136 | 124 |
| Year-End | -- | 119 | 135 | 136 | 124 | |
| Compensation | Through December | 135 | 135 | 168 | 161 | 163 |
| Year-End | -- | 135 | 168 | 161 | 163 | |
| Wrongful Termination | Through December | 101 | 102 | 122 | 116 | 127 |
| Year-End | -- | 102 | 122 | 116 | 127 | |
| Suitability | Through December | 82 | 17 | 63 | 59 | 17 |
| Year-End | -- | 17 | 63 | 59 | 17 | |
| Commissions | Through December | 72 | 82 | 95 | 103 | 60 |
| Year-End | -- | 82 | 95 | 103 | 60 | |
| Misrepresentation | Through December | 57 | 29 | 68 | 54 | 21 |
| Year-End | -- | 29 | 68 | 54 | 21 | |
| Discrimination or Harassment* | Through December | 38 | 46 | 38 | 37 | 58 |
| Year-End | -- | 46 | 38 | 37 | 58 | |
| Breach of Fiduciary Duty | Through December | 31 | 30 | 39 | 52 | 18 |
| Year-End | -- | 30 | 39 | 52 | 18 | |
| Raiding Disputes | Through December | 28 | 21 | 37 | 33 | 42 |
| Year-End | -- | 21 | 37 | 33 | 42 | |
| Negligence | Through December | 17 | 17 | 32 | 25 | 17 |
| Year-End | -- | 17 | 32 | 25 | 17 | |
| Fraud | Through December | 16 | 11 | 24 | 26 | 11 |
| Year-End | -- | 11 | 24 | 26 | 11 | |
| Partnerships | Through December | 15 | 15 | 13 | 7 | 11 |
| Year-End | -- | 15 | 13 | 7 | 11 |
* 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 | 2020 (% of Cases) | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|
| After Regular Hearing | 335 (9%) | 527 (13%) | 517 (14%) | 512 (14%) | 593 (16%) |
| After Special Proceeding Hearing | 13 (0%) | 12 (0%) | N/A | N/A | N/A |
| After Review of Documents (Paper Cases) | 101 (3%) | 96 (2%) | 130 (4%) | 135 (4%) | 157 (4%) |
| Total | 449 (13%) | 635 (16%) | 647 (17%) | 647 (18%) | 750 (21%) |
| Cases Resolved by Other Means | 2020 (% of Cases) | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|
| Direct Settlement by Parties | 2,060 (58%) | 2,269 (57%) | 2,005 (54%) | 1,964 (53%) | 1,812 (50%) |
| Settled via Mediation | 477 (13%) | 513 (13%) | 493 (13%) | 493 (13%) | 433 (12%) |
| Withdrawn | 329 (9%) | 343 (9%) | 333 (9%) | 348 (9%) | 341 (9%) |
| All Others | 243 (7%) | 203 (5%) | 233 (6%) | 240 (7%) | 275 (8%) |
| Total | 3,109 (88%) | 3,328 (84%) | 3,064 (83%) | 3,045 (82%) | 2,861 (79%) |
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 |
|---|---|---|---|
| 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) |
| 2015 | 455 | 20% | 42% (190 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 |
|---|---|---|---|---|
| 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% |
| 2015 | 319 | 145 | 174 | 45% |
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 |
|---|---|---|---|---|
| 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 |
|---|---|---|---|---|
| 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% |
| 2015 | 136 | 45 | 91 | 33% |
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 |
|---|---|---|---|---|
| 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) |
| 2015 | 163 | 47% (77 cases) | 84 | 45% (38 cases) |
Arbitrators by Type and Location
| Arbitrator Type | Total |
|---|---|
| Public | 3,820 |
| Non-Public | 4,291 |
| Total | 8,111 |
Special Arbitrator Roster
| Arbitrator Pool Name | Public Chairpersons | Public Arbitrators | Non-Public Arbitrators |
|---|---|---|---|
| Puerto Rico Bond Fund | 232 | 794 | 733 |
Mediation Statistics Through December
| Year | Cases in Agreement | Cases Closed (Percent Settled) | Turnaround Time (in days) |
|---|---|---|---|
| 2020 | 413 | 564 (85%) | 124 |
| 2019 | 588 | 599 (86%) | 93 |
| 2018 | 509 | 669 (78%) | 115 |
| 2020 vs 2019 | -30% | -6% | +33% |
Pre-Arbitration Requests for Mediation Through December
| Year to Date | Number of Requests* | Parties Agreed (%) |
|---|---|---|
| 2020 | 190 | 41 (22%) |
| 2019 | 138 | 43 (31%) |
| 2018 | 128 | 25 (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.