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Net Capital Requirements
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3 Months Ended |
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Mar. 31, 2014
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| Regulatory Capital Requirements [Abstract] | |
| Net Capital Requirements |
Net Capital Requirements
The Company’s broker-dealer subsidiaries are subject to the SEC’s Uniform Net Capital Rule 15c3-1, which requires the maintenance of minimum net capital. Each of Securities America, Triad, Investacorp and Ladenburg has elected to compute its net capital under the alternative method allowed by this rule. At March 31, 2014, Securities America had regulatory net capital of $8,177, which was $7,927 in excess of its required net capital of $250. At March 31, 2014, Triad had regulatory net capital of $4,395, which was $4,145 in excess of its required net capital of $250. At March 31, 2014, Investacorp had regulatory net capital of $4,319, which was $4,069 in excess of its required net capital of $250. At March 31, 2014, Ladenburg had regulatory net capital of $14,540, which was $14,290 in excess of its required net capital of $250.
Securities America, Triad, Investacorp and Ladenburg claim exemptions from the provisions of the SEC’s Rule 15c3-3 pursuant to paragraph (k)(2)(ii) as they clear their customer transactions through correspondent brokers on a fully disclosed basis.
Premier Trust, chartered by the state of Nevada, is subject to regulation by the Nevada Department of Business and Industry Financial Institutions Division. Under Nevada law, Premier Trust must maintain minimum stockholders’ equity of at least $1,000, including at least $250 in cash. At March 31, 2014, Premier Trust had stockholders’ equity of $1,258, including at least $250 in cash.
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