There were 543 cases filed in 2001 with the
For all securities firms, there were 7,088 new claims filed with NASD Dispute Resolution, an increase of 24% from those filed in 2000. NASD Dispute Resolution handles monetary and business disputes between investors and securities firms, and employment and business disputes between "associated persons" and firms, according to the regulatory group.
Although a breakdown of mutual fund cases specifically was not available, the most common cases involved: breach of fiduciary trust (3,458); negligence (2,275 cases); failure to supervise (1,968 cases); and misrepresentation (1,895 cases). The number of unsuitability cases, however, jumped most dramatically in 2001 to 1,524, up from 900 in 2000, an increase of 69%.