2022 Dispute Resolution Statistics

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Virtual Arbitration Hearing Statistics Through December

Contested Motions for Virtual Hearings Granted Denied Open Total
Customer 268 (62%) 166 (38%) 8 442
Intra-Industry 136 (75%) 46 (25%) 2 184
Total Customer and Intra-Industry 404 (66%) 212 (34%) 10 626

Since the postponement of in-person hearings, and as of December 31, 1,222 arbitration cases have conducted one or more hearings via Zoom (504 customer cases and 718 industry cases).

There are 748 total joint motions for virtual hearings. (327 in customer cases and 421 in industry cases).

Arbitration Statistics Through December

Year New Case Filings Cases Closed Open Cases Turnaround Time (in months)
2022 Total: 2,671
Customer: 1,693 (63%)
Intra-Industry: 978 (37%)		 3,564 3,099 Overall*: 18.3
Regular Hearing Decisions: 19.8
Special Proceeding Decisions: 7.3
Paper Decisions: 5.1
2021 Total: 2,893
Customer: 1,895 (66%)
Intra-Industry: 998 (34%)		 4,029 3,916 Overall*: 15.4
Regular Hearing Decisions: 18.1
Special Proceeding Decisions: 8.8
Paper Decisions: 5.1
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
2022 vs 2021 Total: -8%
Customer: -11%
Intra-Industry: -2%		 -12% -21%  Overall*: +19%
Regular Hearing Decisions: +9%
Special Proceeding Decisions: -17%
Paper Decisions: 0%

* Includes cases closed for any reason.

Historical Statistics for Cases Filed and Closed 

Year Cases Filed Cases Closed
2022 2,671 3,564
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 Time Period 2022 Cases served 2021 2020 2019 2018
Breach of Fiduciary Duty Through December 1,340 1,445 1,714 2,053 2,290
Year-End -- 1,445 1,714 2,053 2,290
Negligence Through December 1,261 1,371 1,592 1,826 1,974
Year-End -- 1,371 1,592 1,826 1,974
Failure to Supervise Through December 1,075 1,218 1,433 1,731 1,935
Year-End -- 1,218 1,433 1,731 1,935
Breach of Contract Through December 1,048 1,110 1,292 1,563 1,711
Year-End -- 1,110 1,292 1,563 1,711
Misrepresentation Through December 990 1,181 1,384 1,688 1,775
Year-End -- 1,181 1,384 1,688 1,775
Suitability Through December 899 1,071 1,220 1,580 1,779
Year-End -- 1,071 1,220 1,580 1,779
Omission of Facts Through December 825 958 1,215 1,468 1,547
Year-End -- 958 1,215 1,468 1,547
Fraud Through December 699 744 918 1,499 1,707
Year-End -- 744 918 1,499 1,707
Violation of Blue Sky Laws Through December 402 355 338 657 810
Year-End -- 355 338 657 810
Manipulation Through December 266 285 316 384 302
Year-End -- 285 316 384 302
Breach of Regulation BI* Through December 216 40 -- -- --
Year-End -- 40 -- -- --
Elder Abuse Through December 188 162 172 207 216
Year-End -- 162 172 207 216
Unauthorized Trading Through December 149 160 190 197 245
Year-End -- 160 190 197 245
Errors-charges Through December 99 127 102 98 81
Year-End -- 127 102 98 81
Mark-ups Through December 83 72 39 63 36
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 Time Period 2022 Cases Served 2021 2020 2019 2018
Common Stock Through December 349 433 385 436 579
Year-End -- 433 385 436 579
Corporate Bonds Through December 239 57 79 74 135
Year-End -- 57 79 74 135
Real Estate Investment Trust Through December 211 429 421 236 205
Year-End -- 429 421 236 205
Mutual Funds Through December 159 151 177 526 731
Year-End -- 161 177 526 731
Options Through December 153 157 180 204 150
Year-End -- 157 180 204 150
Private Equities Through December 146 161 213 149 111
Year-End -- 161 213 149 111
Limited Partnerships Through December 122 134 146 128 144
Year-End -- 134 146 128 144
Business Development Company Through December 88 177 218 26 20
Year-End -- 177 218 26 20
Exchange-Traded Funds Through December 60 76 95 138 167
Year-End -- 76 95 138 167
Annuities Through December 57 98 93 97 101
Year-End -- 98 93 97 101
Municipal Bond Funds Through December 50 57 136 717 959
Year-End -- 57 136 717 959
Variable Annuities Through December 48 75 95 109 105
Year-End -- 75 95 109 105
Preferred Stock Through December 42 31 37 40 59
Year-End -- 31 37 40 59
Structured Products Through December 38 33 35 60 78
Year-End -- 33 35 60 78
401(k) Through December 35 41 73 58 94
Year-End -- 41 73 58 94

 

Top 15 Controversy Types in Intra-Industry Arbitrations

A single arbitration case may include multiple controversy types.

CONTROVERSY Time Period 2022 Cases Served 2021 2020 2019 2018
Breach of Contract Through December 225 268 309 345 413
Year-End -- 268 309 345 413
Libel or Slander on Form U-5 Through December 84 89 148 119 135
Year-End -- 89 148 119 135
Promissory Notes Through December 84 126 229 240 261
Year-End -- 126 229 240 261
Compensation Through December 77 84 135 135 168
Year-End -- 84 135 135 168
Libel, Slander, or Defamation Through December 69 59 152 135 166
Year-End -- 59 152 135 166
Wrongful Termination Through December 50 62 101 102 122
Year-End -- 62 101 102 122
Commissions Through December 37 55 72 82 95
Year-End -- 55 72 82 95
Discrimination or Harassment* Through December 25 36 38 46 38
Year-End -- 36 38 46 38
Raiding Disputes Through December 24 13 28 21 27
Year-End -- 13 28 21 37
Breach of Fiduciary Duty Through December 21 23 31 30 39
Year-End -- 23 31 30 39
Negligence Through December 14 9 17 17 32
Year-End -- 9 17 17 32
Fraud Through December 13 8 16 11 24
Year-End -- 8 16 11 24
Misrepresentation Through December 12 12 57 29 68
Year-End -- 12 57 29 68
Suitability Through December 9 5 82 17 63
Year-End -- 5 82 17 63
Omission of Facts Through December 7 6 11 14 18
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 533 (15%) 497 (12%) 335 (9%) 527 (13%) 517 (14%)
After Special Proceeding Hearing 24 (1%) 34 (1%) 13 (0%) 12 (0%) n/a
After Review of Documents (Paper Cases) 78 (2%) 102 (2%) 101 (3%) 96 (2%) 130 (4%)
Total 635 (18%) 633 (15%) 449 (13%) 635 (16%) 647 (17%)
Cases Resolved by Other Means 2022 (% of Cases) 2021 2020 2019 2018
Direct Settlement by Parties 1,752 (49%) 2,418 (59%) 2,060 (58%) 2,269 (57%) 2,005 (54%)
Settled via Mediation 700 (20%) 458 (11%) 477 (13%) 513 (13%) 493 (13%)
Withdrawn 290 (8%) 384 (9%) 329 (9%) 343 (9%) 333 (9%)
All Others 175 (5%) 216 (5%) 243 (7%) 203 (5%) 233 (6%)
Total 2,917 (82%) 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 311 13% 36% (111 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 237 92 145 39%
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 116 51 65 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 74 34 40 46%
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 19 7 12 37%
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 55 12 43 22%
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 141 42% (59 cases) 51 37% (19 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 3,977
Non-Public 4,203
Total 8,180

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

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 211 716 592

Mediation Statistics Through December

Year Cases in Agreement Cases Closed (Percent Settled) Turnaround Time (in days)
2022 746 803 (91%) 127
2021 617 616 (89%) 140
2020 413 564 (85%) 124
2022 vs 2021 +21% +30%  -9% 

Pre-Arbitration Requests for Mediation Through December

Year to Date Number of Requests* Parties Agreed (%)
2022 166 34 (20%)
2021 195 40 (21%)
2020 190 46 (24%)

* 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.