XML 24 R15.htm IDEA: XBRL DOCUMENT
v3.23.1

BROKERAGE AND OTHER RECEIVABLES, NET | 3 Months Ended
--- | ---
Sep. 30, 2022
Receivables [Abstract] |
Brokerage and other receivables, net | BROKERAGE AND OTHER RECEIVABLES, NET Brokerage and other receivables as of September 30, 2022, and March 31, 2022, consisted of:
| September 30, 2022 |  | March 31, 2022
|  |  | (Recasted)
Margin lending receivables | $ | 399,857 |  |  | $ | 138,983 |
Receivables from brokerage clients | 4,377 |  |  | 4,386 |
Long-term installments receivables | 1,287 |  |  | 1,367 |
Receivable from sale of securities | 866 |  |  | 884 |
Bonds coupon receivable | 636 |  |  | — |
Bank commissions receivable | 499 |  |  | 598 |
Receivable for underwriting and market-making services | 324 |  |  | 296 |
Dividends accrued | 6 |  |  | 45 |
Other receivables | 2,913 |  |  | 3,207 |
Allowance for receivables | (2,596) |  |  | (2,107) |
Total brokerage and other receivables, net | $ | 408,169 |  |  | $ | 147,659 |
Margin lending receivables allow customers to borrow against the value of qualifying securities, primarily for the purpose of purchasing additional securities, as well as to collateralize short positions. Amounts may fluctuate from period to period as overall client balances change as a result of market levels, client positioning and leverage. Credit exposures arising from margin lending activities are generally mitigated by their short-term nature, the value of collateral held and our right to call for margin when collateral values decline. As of September 30, 2022, and March 31, 2022, amounts due from a single related party customer were $327,487 and $102,680, respectively or 82% and 70% respectively, of total brokerage and other receivables, net. Approximately 97% and 95% of these balances were due from Freedom Securities Trading Inc. (formerly known as FFIN Brokerage Services, Inc.) (“FFIN Brokerage”), a company owned by the Company's controlling shareholder, chairman and chief executive officer, Timur Turlov. Based on historical data, the Company considers receivables due from related parties fully collectible. As of September 30, 2022, and March 31, 2022, using historical and statistical data, the Comp any recorded an allowance for brokerage receivables in the amounts of $2,596 and $2,107, respectively.

X
- Definition The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -URI http://asc.fasb.org/subtopic&trid=2196772 + Details
Name: | us-gaap_LoansNotesTradeAndOtherReceivablesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_ReceivablesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration