Company: COHN
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001437749-25-033482
Chunk: 140

Company: Cohen & Co Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Item 1
Chunk 140
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, at fair value; (b) $214 of sales and returns of principal from other investments sold, not yet purchased, at fair value; and (c) $978 of distributions received from equity method affiliates; partially offset by (d) $52,000 in cash used to purchase other investments, at fair value; (e) $1,408 in cash used to purchase other investments sold, not yet purchased, at fair value; (f) $193 in cash used as investments in equity method affiliates; and (g) $789 in cash used to purchase furniture, equipment, and leasehold improvements.

 The cash used in financing activities of $12,240 was comprised of (a) $2,573 of repayment of redeemable financial instruments; (b) $189 in cash used to settle equity awards; (c) $1,465 in dividends paid; (d) $3,837 in distributions to the convertible non-controlling interests; (e) $659 in redemption of convertible non-controlling interests; and (f) $3,671 in distributions to non-convertible non-controlling interests; partially offset by (g) $154 in proceeds from the issuance of Common Stock.

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Regulatory Capital Requirements 

We have two subsidiaries that are licensed securities dealers: Cohen Securities in the United States and CCFESA in France. As a U.S. broker-dealer, Cohen Securities 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 the applicable net capital rules. These subsidiaries have historically operated in excess of minimum net capital requirements. Our minimum capital requirements at September 30, 2025 were as follows.

MINIMUM NET CAPITAL REQUIREMENTS

     September 30, 2025

      United States 
      
     $
     250

      Europe 

     728

      Total 
      
     $
     978

We operate with more than the minimum regulatory capital requirement in our licensed broker-dealers and at September 30, 2025, total net capital, or the equivalent as defined by the relevant statutory regulations, in our licensed broker-dealers totaled $76,395. See note 18 to our consolidated financial statements included in Item 1 in this Quarterly Report on Form