Net Capital Requirements |
12 Months Ended |
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Dec. 31, 2017 | |
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| Net Capital Requirements |
23. Net Capital Requirements
Portfolio Brokerage Services, Inc. (“PBS”) is a broker-dealer subject to the SEC Uniform Net Capital Rule (SEC Rule 15c3-1), which requires the maintenance of minimum net capital and requires that the ratio of aggregate indebtedness to net capital (“net capital ratio”), both as defined, shall not exceed 15 to 1. SEC Rule 15c3-1 also provides that equity capital may not be withdrawn or cash dividends paid if the resulting net capital ratio would exceed 10 to 1. At December 31, 2017, the Company had net capital of $1,238, which was $1,138 in excess of its required net capital of $100. At December 31, 2017, the Company’s net capital ratio was .05 to 1.
Additionally, PBS is subject to net capital requirements of certain self-regulatory organizations and at December 31, 2017, PBS was in compliance with such requirements. |
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- Definition The entire disclosure for financial services, specifically for brokers and dealers, for the accounting period and at the balance sheet date. Disclosure may include amounts receivable from and payable to broker-dealers and clearing organizations, including securities failed to receive, deposits received for securities loaned, amounts payable to clearing organizations related to open transactions, floor brokerage payables and payables for commodities futures accounts liquidating to an equity balance on a broker-dealer's records. May also include disclosure on company's consolidation policy and a note indicating the amount of the broker-dealer's actual net capital and the amount of required net capital. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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