Regulatory Requirements Regulatory (Tables)

3 Months Ended

Mar. 31, 2020

Regulatory [Abstract]

Computation of Net Capital under Securities and Exchange Commission Regulation

As of March 31, 2020, these regulated broker-dealers had regulatory net capital or financial resources, regulatory net capital requirements or minimum FCA or SFC requirement and excess as follows:

Subsidiary	Net Capital		Minimum Net Capital Requirement		Excess Net Capital
	(dollars in thousands)
Cowen and Company	$	134,102	$	1,000	$	133,102
Cowen Execution	$	114,384	$	7,066	$	107,318
ATM Execution	$	4,821	$	250	$	4,571
Cowen Prime	$	18,122	$	250	$	17,872
Westminster	$	18,856	$	250	$	18,606
Cowen International Ltd	$	16,378	$	6,677	$	9,701
Cowen Execution Ltd	$	11,609	$	2,963	$	8,646
Cowen Asia	$	873	$	387	$	486