The most common type of securities controversy that comes to arbitration under the National Association of Securities Dealers is breach of fiduciary duty. Common stocks are the most common type of security in NASD arbitrations. The total amount arbitrators awarded in customer claims last year was $139 million, of which $23 million was in punitive damages. These and other dispute resolution statistics have recently been updated by NASD Dispute Resolution, the largest dispute resolution forum in the securities industry (and one for which I serve as a member of the arbitration panel).