Company: COHN
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001437749-25-007158
Chunk: 371

Company: Cohen & Co Inc.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 1
Chunk 371
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 purchase other investments, at fair value; (e) $6,001 in cash used to purchase other investments sold, not yet purchased, at fair value; (f) $2,614 in cash used to invest in equity method affiliates; and (g) $573 in cash used to purchase furniture, equipment, and leasehold improvements. 

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The cash used in financing activities of $11,504 was comprised of (a) $2,250 in cash used to repay debt; (b) $234 in cash used to settle equity awards; (c) $2,558 in cash used to pay dividends on Common Stock; (d) $6,485 in cash used to pay distributions to the convertible non-controlling interest; and (e) $2,236 in cash used to pay distributions to the non-convertible non-controlling interests; partially offset by (f) $2,250 in proceeds from the issuance of debt; and (g) $9 in cash proceeds from investments in the non-convertible non-controlling interests.  

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      65

Regulatory Capital Requirements 

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We have two subsidiaries that are licensed securities dealers: JVB in the U.S. and CCFESA in France. As a U.S. broker-dealer, JVB is subject to the Uniform Net Capital Rule in Rule 15c3-1 under the Exchange Act. CCFESA is subject to the regulations of the ACPR.  The amount of net assets that these subsidiaries may distribute is subject to restrictions under these applicable net capital rules. These subsidiaries have historically operated in excess of minimum net capital requirements. Our minimum capital requirements at December 31, 2024 were as follows.

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      MINIMUM NET CAPITAL REQUIREMENTS 

      (Dollars in Thousands) 

     As of December 31, 2024

      U.S. 
      
     $
     250

      France 

     643

      Total 
      
     $
     893

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We operate with more than the minimum regulatory capital requirement in our licensed broker-dealers and at December 31, 2024 total net capital, or the equivalent as defined by the relevant statutory regulations, in our licensed broker-dealers was $49,988.  See note 25 to our consolidated financial statements included in this Annual Report on Form 10-K.  In addition, our licensed broker-dealers are