Regulatory Requirements

9 Months Ended

Sep. 30, 2021

Regulatory Requirements [Abstract]

Regulatory Requirements

13. Regulatory Requirements

The Company’s broker-dealer subsidiary, G.distributors, is subject to certain net capital requirements. G.distributors computes its net capital under the alternative method permitted, which requires minimum net capital of the greater of $250,000 or 2% of the aggregate debit items in the reserve formula for those broker-dealers subject to Rule 15c3-3 promulgated under the Securities Exchange Act of 1934, as amended. The requirement was $250,000 for the broker-dealer at September 30, 2021. At September 30, 2021, G.distributors had net capital, as defined, of approximately $2.2 million, exceeding the regulatory requirement by approximately $2.0 million. Net capital requirements for the Company’s affiliated broker-dealer may increase in accordance with the rules and regulations applicable to broker-dealers to the extent G.distributors engages in other business activities.