FINRA Arbitration Cases See Rise in First Quarter
During the first three months of the year, 1,011 arbitration cases have been filed. That compares to 919 in the first quarter of 2013 and 1,183 in the first quarter of 2012. The total number of cases filed in 2013 was 3,714, while 4,299 cases were filed in 2012.
One likely factor in the uptick this year is the hundreds of cases that FINRA has received from investors who have been burned by the collapse in Puerto Rico municipal bond funds. The number of Puerto Rico complaints could rise and push the total number of arbitration claims higher, depending on how claimants fare.
The proportion of arbitration cases that resulted in damages awarded to clients this year is running ahead of the previous two years. 50% of cases that were decided in the first quarter — 55 of 109 — resulted in damage awards, compared to 42% for all of 2013 and 45% for all of 2012.
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