Quarterly report pursuant to Section 13 or 15(d)

BROKERAGE AND OTHER RECEIVABLES, NET

v3.20.4
BROKERAGE AND OTHER RECEIVABLES, NET
 9 Months Ended
Dec. 31, 2020
BROKERAGE AND OTHER RECEIVABLES, NET  
NOTE 6 - BROKERAGE AND OTHER RECEIVABLES, NET

NOTE 6 – BROKERAGE AND OTHER RECEIVABLES, NET

 

Brokerage and other receivables for the periods ended December 31, 2020, and March 31, 2020, consisted of:

 

 

 

December 31, 2020

 

 

March 31, 2020

 

 

 

 

 

 

 

 

Margin lending receivables

 

 $ 53,196

 

 

 $ 107,770

 

Receivables from brokerage clients

 

 

 5,440

 

 

 

 4,396

 

Long-term installments receivables

 

 

 1,407

 

 

 

 -

 

Receivable for underwriting and market-making services

 

 

 536

 

 

 

 67

 

Receivable from sale of securities

 

 

 479

 

 

 

 1,498

 

Bank commissions receivable

 

 

 88

 

 

 

 218

 

Dividends receivable

 

 

 2

 

 

 

 1

 

Other receivables

 

 

 127

 

 

 

 50

 

Allowance for receivables

 

 

 (2,193 )

 

 

 (313 )

Total brokerage and other receivables, net

 

 $ 59,082

 

 

 $ 113,687

 

 

On December 31, 2020, and March 31, 2020, amounts due from a single related party customer were $20,810 or 35% and $90,696 or 80%, respectively, of the total balance. Based on experience, the Company considers receivables due from related parties fully collectible. As of December 31, 2020, and March 31, 2020, using historical and statistical data, the Company recorded an allowance for brokerage receivables in the amount of $2,193 and $313, respectively.