Regulatory Requirements Regulatory (Tables)

3 Months Ended

Mar. 31, 2022

Regulatory [Abstract]

Computation of Net Capital under Securities and Exchange Commission Regulation

As of March 31, 2022, the regulatory net capital, minimum net capital requirement and excess net capital of U.S. regulated broker dealers and swap dealer together with the equivalent of capital requirements and compliance information for foreign broker dealers registered with the FCA and the SFC are presented as follows:

Subsidiary	Net Capital		Minimum Net Capital Requirement		Excess Net Capital
	(dollars in thousands)
Cowen and Company	$	406,557	$	9,343	$	397,214
ATM Execution	$	7,880	$	250	$	7,630
Westminster	$	19,521	$	250	$	19,271
Cowen Financial Products	$	36,658	$	20,000	$	16,658
Cowen International Ltd (a)	$	51,109	$	25,735	$	25,374
Cowen Execution Ltd (a)	$	17,900	$	5,075	$	12,825
Cowen Asia (a)	$	2,045	$	383	$	1,662