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Note 25 - Net Capital Requirements

12 Months Ended

Dec. 31, 2021

Net Capital Under Securities and Exchange Commission Regulation Disclosure [Text Block]

25. NET CAPITAL REQUIREMENTS

JVB is subject to the net capital provision of Rule 15c3-1 under the Exchange Act, which requires the maintenance of minimum net capital, as defined therein.

CCFEL, a subsidiary of the Company regulated by the CBI is subject to certain regulatory capital requirements in accordance with the Capital Requirements Regulation 575/2013 and applicable CBI requirements.

CCFESA, a subsidiary of the Company, is regulated by the ACPR in France.

CCFL cancelled its FCA license on November 25 2020; therefore it was not subject to a minimum liquid capital requirement as of December 31, 2020.

The following tables shows the actual net capital (in the case of the JVB) and actual net liquid capital (in the case of CCFESA and CCFEL) as compared to the required amounts for the periods indicated.

STATUTORY NET CAPITAL REQUIREMENTS
(Dollars in thousands)

	As of December 31, 2021
	Actual Net Capital or Liquid Capital		Amount Required		Excess
JVB	$	73,999	$	250	$	73,749
CCFESA		1,117		543		574
CCFEL		1,700		895		805
Total	$	76,816	$	1,688	$	75,128

	As of December 31, 2020
	Actual Net Capital or Liquid Capital		Amount Required		Excess
JVB	$	66,803	$	250	$	66,553
CCFEL		2,023		707		1,316
Total	$	68,826	$	957	$	67,869