CAPITAL REQUIREMENTS OF REGULATED ENTITIES

12 Months Ended

Dec. 31, 2019

Broker-Dealer, Net Capital Requirement, SEC Regulation [Abstract]

CAPITAL REQUIREMENTS OF REGULATED ENTITIES

CAPITAL REQUIREMENTS OF REGULATED ENTITIES

One of the Company’s indirect subsidiaries prior to the Restructuring is a registered U.S. broker-dealer that is subject to the minimum net capital requirements of the SEC and the U.S. Financial Industry Regulatory Authority. Additionally, two of the Company’s indirect subsidiaries based in London is subject to the capital requirements of the U.K. Financial Conduct Authority, and another based in Hong Kong is subject to the capital requirements of the Hong Kong Securities and Futures Ordinance.  These entities operate in excess of their respective regulatory capital requirements.

The regulatory capital requirements referred to above may restrict the Company’s ability to withdraw capital from its entities for purposes such as paying cash distributions or advances to the Company. As of December 31, 2019 and 2018, respectively, there was approximately $190.7 million and $183.7 million of such potentially restricted amounts. Effective with the Restructuring, the U.S. broker-dealer’s restricted amounts, if any, will no longer be included in these consolidated financial statements.