FINRA Dispute Resolution Services (“DRS”) posted case statistics through the end of October, with the overall arbitration case filing trends continuing from prior months but with a confirmed major change in mediation stats.
In brief, the headlines are: 1) overall arbitration filings through October – 2,527 cases – are down 26% (had been -27% in September); 2) cumulative customer claims, which had been off 2%, are now down 5% from 2020; 3) industry disputes remain way down at minus 48%; 4) mediation cases are really surging; and 5) for the fourteenth month in a row, pending cases declined. Overall arbitration turnaround times were 14.9 months, with hearing cases now taking 17.1 months. Also, there are now 8,466 DRS arbitrators, 4,015 public and 4,451 non-public…
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