Regulatory Requirements Regulatory (Tables)

9 Months Ended

Sep. 30, 2021

Regulatory [Abstract]

Computation of Net Capital under Securities and Exchange Commission Regulation

As of September 30, 2021, 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	$	324,607	$	8,854	$	315,753
ATM Execution	$	5,910	$	250	$	5,660
Westminster	$	24,487	$	250	$	24,237
Cowen International Ltd	$	38,928	$	27,853	$	11,075
Cowen Execution Ltd	$	12,912	$	3,734	$	9,178
Cowen Asia	$	2,299	$	385	$	1,914