Quarterly report pursuant to Section 13 or 15(d)

Brokerage and Other Receivables, Net

v3.19.3.a.u2
Brokerage and Other Receivables, Net
9 Months Ended
Dec. 31, 2019
Other Receivables, Net, Current [Abstract]  
Brokerage and Other Receivables, Net
    December 31, 2019     March 31, 2019  
             
Margin lending receivables   $ 155,058     $ 46,716  
Receivables from brokerage clients     1,175       824  
Receivables from sale of securities     1,037       27,684  
Bank commissions receivable     74       -  
Receivable for underwriting and market-making services     65       -  
Dividends accrued     1       108  
Other receivables     47       130  
                 
Allowance for receivables     (240 )     (1,626 )
Total brokerage and other receivables, net   $ 157,217     $ 73,836  

 

 

On December 31, 2019 and March 31, 2019, amounts due from a single related party customer were $135,414 and $31,792, respectively or 86% and 43%, respectively of total brokerage and other receivables, net. Based on experience, the Company considers receivables due from related parties as fully collectible. As of December 31, 2019 and March 31, 2019, using historical and statistical data, the Company recorded an allowance for brokerage receivables in the amount of $240 and $1,626, respectively.