Home > FINRA/NASD Dispute Resolution Statistics Released
FINRA/NASD Dispute Resolution Statistics Released
Summary Arbitration Statistics September 2007
New Case Filings through September:
2007
2006
2005
2007 Vs 2006
2,382
3,703
4,632
-36%
Number of Cases Closed through September:
2007
2006
2005
2007 Vs 2006
4,075
5,589
7,026
-27%
Turnaround Time* (in months) through September:
2007
2006
2005
2007 Vs 2006
Overall
13.8
13.9
14.4
-1%
Hearing Decisions
16.0
16.7
16.9
-4%
Simplified Decisions
6.1
5.5
7.0
11%
* The timing of the arbitration process is heavily influenced by Code of Arbitration Procedures time limits, the parties, and the panel.
Summary Mediation Statistics September 2007
Mediation Cases in Agreement Through September:
2007
2006
2005
2007 Vs 2006
603
778
1,015
-22%
Mediation Cases Closed through September:
2007
2006
2005
2007 Vs 2006
Cases Closed
692
931
1,275
-26%
Percent Settled
80%
83%
82%
Turnaround Time (in Days) through September:
2007
2006
2005
2007 Vs 2006
129
104
93
24%
Arbitration Cases Filed
Year
Cases
1992
4,379
1993
5,421
1994
5,586
1995
6,058
1996
5,631
1997
5,997
1998
4,938
1999
5,608
Year
Cases
2000
5,558
2001
6,915
2002
7,704
2003
8,945
2004
8,201
2005
6,074
2006
4,614
Thru Sep-07
2,382
Controversies Involved in Arbitration Cases
Type of Controversy*
2003
2004
2005
2006
Sep-2007
Margin Calls
244
168
78
103
33
Churning
665
449
315
257
101
Unauthorized Trading
789
520
395
242
123
Failure to Supervise
3,230
2,743
1,828
1,425
643
Negligence
3,500
3,398
2,225
1,619
698
Omission of Facts
1,949
2,195
1,123
588
209
Breach of Contract
2,328
2,723
1,987
1,397
686
Breach of Fiduciary Duty
5,565
5,426
3,514
2,621
1,241
Unsuitability
3,198
2,697
1,926
1,347
542
Misrepresentation
3,280
3,230
1,826
1,187
579
Online Trading
74
4
7
8
0
*Each case can be coded to contain up to four controversy types. Therefore the columns in this table cannot be totaled to determine the number of cases served in a year.
Security Types Involved in Arbitration Cases
Type of Security*
2003
2004
2005
2006
Sep-2007
Corporate Bonds
353
188
106
82
50
Certificates of Deposit
39
20
31
28
15
Mutual Funds
1,706
1,221
888
679
305
Options
392
299
153
155
82
Common Stock
3,812
2,557
1,348
1,257
616
Limited Partnerships
59
36
24
21
14
Annuities
721
596
460
446
186
*Each case can be coded to contain up to four security types. Therefore the columns in this table cannot be totaled to determine the number of cases served in a year.
Arbitration Cases Closed by Year
Year
Cases
1992
4,375
1993
4,230
1994
4,484
1995
5,779
1996
6,331
1997
5,880
1998
5,484
1999
4,767
Year
Cases
2000
5,473
2001
5,582
2002
5,957
2003
7,278
2004
9,209
2005
9,043
2006
7,212
Thru Sep-07
4,075
How Arbitration Cases Close
Cases Decided by Arbitrators
2003
% of Cases
2004
% of Cases
2005
% of Cases
2006
% of Cases
Sep-2007
% of Cases
After Hearing
1,764
24%
1,915
21%
1,767
20%
1.265
18%
736
18%
After Review of Documents
313
4%
508
6%
355
4%
192
3%
111
3%
Total
2,077
29%
2,423
27%
2,122
24%
1,457
21%
847
21%
Cases Resolved by Other Means
2003
% of Cases
2004
% of Cases
2005
% of Cases
2006
% of Cases
Sep-2007
% of Cases
Direct Settlement by Parties
2,616
36%
3,700
41%
3,940
44%
3,503
50%
2,319
57%
Settled Via Mediation
1,182
16%
1,201
13%
910
10%
730
10%
366
9%
Withdrawn
647
9%
677
7%
806
9%
643
9%
267
7%
All Others*
679
9%
1,073
12%
1,127
13%
738
10%
256
6%
Total
5,124
71%
6,651
73%
6,783
76%
5,614
79%
3,208
79%
*All Other reasons for closed includes cases closed by: Stipulated Award, Bankruptcy of critical party; Uncured Deficient Claim; Forum Denied; Stayed by Court Action, etc. Note cases counted as closed in this report do not include those cases that closed and were then reopened.
Results of Customer Claimant Arbitration Award Cases
Year Decided
All Customer Claimant Cases Decided (Hearings & Paper)
All Customer Claimant Cases Where Customer Awarded Damages
*Percentage of Customer Award Cases
2000
1,196
635
53%
2001
1,172
637
54%
2002
1,330
702
53%
2003
1,513
742
49%
2004
1,894
888
47%
2005
1,610
687
43%
2006
1,011
425
42%
* Percentage of customer claimant award cases has been recalculated to reflect only instances in which investors as claimants recovered monetary damages or non-monetary relief.
Arbitrators by Type
This report lists all available arbitrators by Non-Public and Public Type.
