FINRA Sees Decrease in Arbitration Case Filings in 2021

The Financial Industry Regulatory Authority (FINRA) has reported a decrease in arbitration case filings between January and August 2021 compared to the same period in 2020. Additionally, the latest virtual arbitration hearing statistics indicate that these virtual services continue to serve people across the country in the wake of pandemic restrictions. While in-person hearings have resumed as of August 2, 2021, FINRA continues to offer virtual arbitration hearings for those who request to do so. Let’s look at what the recent FINRA arbitration statistics mean for upcoming arbitration hearings.

Most Recent Arbitration Case Filings and Trends

FINRA reported that a total of 2,068 case filings were filed between January and August 2021. Compared to this same period in 2020, the number of claims decreased by 22 percent. Customer-initiated claims fell by one percent between 2020 and 2021. According to FINRA’s most recent data, 2,301 new cases have been filed as of September 2021. Of these new case filings, 1,524 (66 percent) were customer-initiated, while 777 (34 percent) were intra-industry.

FINRA’s Virtual Arbitration Hearing Statistics

When FINRA postponed in-person arbitration hearings due to pandemic restrictions, it offered a virtual option for resolving disputes. According to FINRA’s most recent statistics, FINRA received 841 motions for Zoom hearings as of August 31, 2021. Of these, 476 were contested motions, with 342 customer-contested motions (202 granted, 134 denied, and six open); 125 were intra-industry contested motions (88 granted, 31 denied, and six open); and 374 were joint motions. Additionally, 463 arbitration cases have held one or more meetings via Zoom since the postponement of in-person hearings.

FINRA Resumes In-Person Arbitration Hearings

As of August 2, 2021, FINRA has opened all of its Dispute Resolution Services (DRS) hearing locations for in-person proceedings. However, FINRA remains committed to protecting the safety and health of those attending in-person proceedings. Social distancing measures, sanitizing stations, masks, plexiglass dividers, and other safety precautions are in place to reduce the spread of COVID-19. Additionally, effective October 4, 2021, through July 1, 2022, all in-person participants must be fully vaccinated to attend in-person proceedings. Those who have not been vaccinated may provide proof of a negative PCR test instead.


If you need help navigating an upcoming FINRA arbitration, contact Judex Law LLC today at (303) 523-4022 to speak with an experienced securities law attorney.

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