Quarterly report pursuant to Section 13 or 15(d)

Brokerage and Other Receivables, Net

v3.20.2
Brokerage and Other Receivables, Net
3 Months Ended
Jun. 30, 2020
Brokerage and Other Receivables, Net  
NOTE 7 - BROKERAGE AND OTHER RECEIVABLES, NET

NOTE 7 - BROKERAGE AND OTHER RECEIVABLES, NET

 

 

 

June 30,

2020

 

 

March 31,

2020

 

 

 

 

 

 

 

 

Margin lending receivables

 

$ 98,469

 

 

$ 107,770

 

Receivables from brokerage clients

 

 

1,668

 

 

 

4,396

 

Bonds coupon receivable

 

 

813

 

 

 

-

 

Receivable from sale of securities

 

 

616

 

 

 

1,498

 

Bank commissions receivable

 

 

352

 

 

 

218

 

Receivable for underwriting and market-making services

 

 

263

 

 

 

67

 

Other receivables

 

 

575

 

 

 

51

 

 

 

 

 

 

 

 

 

 

Allowance for receivables

 

 

(234 )

 

 

(313 )

 

 

 

 

 

 

 

 

 

Total brokerage and other receivables, net

 

$ 102,522

 

 

$ 113,687

 

 

On June 30, 2020 and March 31, 2020, amounts due from a single related party customer were $68,135 or 66% and $90,696 or 80%, respectively. Based on experience, the Company considers receivables due from related parties fully collectible. As of June 30, 2020, and March 31, 2020, using historical and statistical data, the Company recorded an allowance for brokerage receivables in the amount of $234 and $313, respectively.