Article summary
The Financial Industry Regulatory Authority (FINRA) has released its latest arbitration and mediation statistics through October 2024. The data reveals a 27% decrease in new case filings compared to 2023, with 2,147 cases filed (65% customer cases, 35% intra-industry). FINRA reports improved efficiency, with 2,639 cases closed and an overall turnaround time reduced to 12.3 months. Customer claimants were awarded damages in 25% of cases decided. Notably, customer claimant success rates varied by hearing type, with 30% awarded damages in regular hearings, 45% in Zoom hearings, and 40% in in-person hearings. Mediation continues to be effective, with 87% of cases settled. These figures suggest a shift in dispute resolution dynamics within the financial industry, potentially reflecting changes in market conditions or regulatory practices.
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