Company: COHN
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0001437749-25-024506
Chunk: 136

Company: Cohen & Co Inc.
Filing Date: 2025-08-04
Form: 10-Q
Item: Item 1
Chunk 136
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267 of cash used to purchase other investments sold, not yet purchased, at fair value, (f) $134 of cash used to invest in equity method affiliates, and (g) $474 in cash used to purchase furniture, equipment, and leasehold improvements.  

The cash used in financing activities of $8,340 was comprised of (a) $189 in cash used to net settle equity awards, (b) $1,057 in cash used to pay dividends, (c) $3,022 in convertible non-controlling interest distributions, (d) $659 in redemptions of convertible non-controlling interests, (e) $3,567 in non-convertible non-controlling interest distributions, partially offset by (f) $154 in proceeds from 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 June 30, 2025 were as follows.

MINIMUM NET CAPITAL REQUIREMENTS

     June 30, 2025

      United States 
      
     $
     250

      Europe 

     729

      Total 
      
     $
     979

We operate with more than the minimum regulatory capital requirement in our licensed broker-dealers and at June 30, 2025, total net capital, or the equivalent as defined by the relevant statutory regulations, in our licensed broker-dealers totaled $51,761. See note 18 to our consolidated financial statements included in Item 1 in this Quarterly Report on Form 10-Q.  In addition, our licensed broker-dealers are generally subject to capital withdrawal notification and restrictions.

Restrictions of Distributions of Capital from Cohen Securities

As of June 30, 2025, our total equity on a consolidated basis was $92,458 and the total equity of Cohen Securities was $86,864.  Therefore, only $5,594 of equity existed outside