Broker-Dealers and Clearing Organizations and Other Receivables
|9 Months Ended|
Sep. 30, 2016
|Brokers and Dealers [Abstract]|
|Broker-Dealers and Clearing Organizations and Other Receivables||
4. Broker-Dealers and Clearing Organizations and Other Receivables
At September 9, 2016, the receivables of $1.6 million from broker-dealers and clearing organizations represent net amounts due for commissions and fees associated with National’s retail brokerage business as well as asset based fee revenue associated with National’s asset management advisory business. Accounts receivables at September 9, 2016 includes $1.8 million of forgivable loan receivables and $3.1 million of other receivables, which principally represent trailing commissions, tax and accounting fees and investment banking fees and are net of an allowance for uncollectable accounts of $782,000.
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