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Regulatory Requirements and Subsidiary Dividend Restrictions (Notes)
12 Months Ended
Sep. 30, 2013
Capital and Other Regulatory Requirements [Abstract]  
Regulatory Capital Requirements under Banking Regulations [Text Block]
Regulatory Requirements and Subsidiary Dividend Restrictions
The Company’s subsidiary FCStone, LLC is a commodity futures commission merchant registered with the CFTC servicing customers primarily in grain, energy and food service-related businesses. Pursuant to the rules, regulations, and requirements of the CFTC and other regulatory agencies, FCStone, LLC is required to maintain certain minimum net capital as defined in such rules, regulations, and requirements. Net capital and the related net capital requirement may fluctuate on a daily basis. FCStone, LLC also has restriction on dividends, which restricts the withdrawal of equity capital if the planned withdrawal would reduce net capital, subsequent to haircuts and charges, to an amount less than 120% of the greatest minimum requirement.
Pursuant to the requirements of the Commodity Exchange Act, funds deposited by customers of FCStone, LLC relating to their trading of futures and options-on-futures on a U.S. commodities exchange must be carried in separate accounts which are designated as segregated customers’ accounts. Pursuant to the requirements of the CFTC, funds deposited by customers of FCStone, LLC relating to their trading of futures and options-on-futures traded on, or subject to the rules of, a foreign board of trade must be carried in separate accounts in an amount sufficient to satisfy all of FCStone LLC’s current obligations to customers trading foreign futures and foreign options on foreign commodity exchanges or boards of trade, which are designated as secured customers’ accounts. See Additional Information of FCStone, LLC Related to Customer Segregated and Secured Funds further below for additional information regarding FCStone, LLC’s calculation of segregated and secured customer funds.
The Company’s subsidiary INTL FCStone Ltd. is regulated by the Financial Conduct Authority (“FCA”), the regulator of the financial services industry in the United Kingdom, as a Financial Services Firm under part IV of the Financial Services and Markets Act 2000. The regulations impose daily regulatory capital, as well as conduct of business, governance, and other requirements. The conduct of business rules include those that govern the treatment of client money and other assets which under certain circumstances for certain classes of client must be segregated from the firm’s own assets.
The Company’s subsidiary INTL Global Currencies Limited is regulated by the FCA as a Payment Institution under the Payment Services Regulations 2009. The regulations impose regulatory capital (reported annually), and conduct of business requirements.
The Company’s subsidiary INTL FCStone Securities Inc. (“INTL FCStone Securities”) is a registered broker dealer and member of the Financial Industry Regulatory Authority (“FINRA”) and is subject to the SEC Uniform Net Capital Rule 15c3-1. This rule requires the maintenance of minimum net capital, and requires that the ratio of aggregate indebtedness to net capital not exceed 15 to 1. A further requirement is that equity capital may not be withdrawn if this ratio would exceed 10 to 1 after such withdrawal.
The Company’s subsidiary FCC Investments, Inc. is a registered broker-dealer and a member of FINRA, and is subject to the SEC Uniform Net Capital Rule 15c3-1.
The Company’s subsidiary FCStone Australia Pty Ltd (“FCStone Australia”) is regulated by the Australian Securities and Investment Commission and is subject to a net tangible asset capital requirement. FCStone Australia is also regulated by New Zealand Clearing Limited, and is subject to a capital adequacy requirement.
FCStone Commodity Services (Europe), Ltd. is domiciled in Ireland and subject to regulation by the Central Bank of Ireland, and is subject to a net capital requirement.
INTL FCStone DTVM Ltda. (“INTL FCStone DTVM”) is a registered broker-dealer and regulated by the Brazilian Central Bank and Securities and Exchange Commission of Brazil, and is subject to a capital adequacy requirement.
All subsidiaries of the Company are in compliance with all of their regulatory requirements as of September 30, 2013, as follows:
(in millions)
 
 
 
 
As of September 30, 2013
Subsidiary
Regulatory Authority
 
Requirement Type
 
Actual
 
Minimum
Requirement
FCStone, LLC
CFTC
 
Net capital
 
$
106.3

 
$
66.3

FCStone, LLC
CFTC
 
Segregated funds
 
$
1,693.5

 
$
1,669.6

FCStone, LLC
CFTC
 
Secured funds
 
$
82.5

 
$
59.8

INTL FCStone Ltd
FCA (United Kingdom)
 
Net capital
 
$
60.8

 
$
23.4

INTL FCStone Ltd
FCA United Kingdom
 
Segregated funds
 
$
61.2

 
$
61.1

INTL Global Currencies Limited
FCA (United Kingdom)
 
Net capital
 
$
11.4

 
$
1.2

INTL FCStone Securities Inc.
SEC
 
Net capital
 
$
5.0

 
$
1.0

FCC Investments, Inc.
SEC
 
Net capital
 
$
0.3

 
$
0.3

FCStone Australia
Australian Securities and Investment Commission
 
Net capital
 
$
1.8

 
$
0.9

FCStone Australia
New Zealand Clearing Ltd
 
Capital adequacy
 
$
11.6

 
$
4.1

FCStone Commodity Services (Europe), Ltd
Central Bank of Ireland
 
Net capital
 
$
2.0

 
$
0.6

INTL FCStone DTVM Ltda.
Brazilian Central Bank and Securities and Exchange Commission of Brazil
 
Capital adequacy
 
$
0.7

 
$
0.7

INTL Capital S.A.
Rosario Futures Exchange (Argentina)
 
Capital adequacy
 
$
6.3

 
$
0.1

INTL Capital S.A.
General Inspector of Justice (Argentina)
 
Net capital
 
$
8.5

 
$
6.4

INTL Capital S.A.
Superintendent of Securities Markets of Buenos Aires (Argentina)
 
Net capital
 
$
4.0

 
$
0.3


Certain other non-U.S. subsidiaries of the Company are also subject to capital adequacy requirements promulgated by authorities of the countries in which they operate. As of September 30, 2013, these subsidiaries were in compliance with their local capital adequacy requirements.
Additional Information of FCStone, LLC Related to Customer Segregated and Secured Funds
Pursuant to the requirements of the Commodity Exchange Act, funds deposited by customers of FCStone, LLC relating to futures and options-on-futures positions in regulated commodities must be carried in separate accounts which are designated as segregated customers’ accounts. Certain amounts in the accompanying table reflect reclassifications and eliminations required for regulatory filing.
Funds deposited by customers and other assets, which have been segregated as belonging to the commodity customers as of September 30, 2013 and 2012, are as follows:
(in millions)
September 30, 2013
 
September 30, 2012
Cash, at banks - segregated
$
247.6

 
$
225.6

Securities - customer segregated

 

Securities held for customers in lieu of cash, at banks
19.5

 
47.2

Deposits with and receivables from:
 
 
 
Exchange-clearing organizations, including securities, net of omnibus eliminations
1,413.3

 
1,370.4

Securities held for customers in lieu of cash
13.1

 
22.3

Total customer-segregated funds
1,693.5

 
1,665.5

Amount required to be segregated
1,669.6

 
1,620.5

Excess funds in segregation
$
23.9

 
$
45.0

Funds deposited by customers and other assets, which are held in separate accounts for customers trading foreign futures and foreign options customers, as of September 30, 2013 and 2012 are as follows:
(in millions)
September 30, 2013
 
September 30, 2012
Cash - secured
$
34.2

 
$
25.2

Securities

 
3.3

Equities with futures commission merchants
27.0

 
9.9

Amounts held by clearing organizations of foreign boards of trade

 
20.8

Amounts held by members of foreign boards of trade
21.3

 
30.1

Total customer-secured funds
82.5

 
89.3

Amount required to be secured
59.8

 
77.6

Excess secured funds
$
22.7

 
$
11.7