Regulatory Requirements

12 Months Ended

Dec. 31, 2012

Regulatory Capital Requirements [Abstract]

Regulatory Requirements

Regulatory Requirements

Certain subsidiaries of the Company are subject to various regulatory requirements in the United States, United Kingdom, Australia and certain other jurisdictions, which specify, among other requirements, minimum net capital requirements for registered broker-dealers.

G&Co is subject to the SEC’s Uniform Net Capital requirements under Rule 15c3-1 (the “Rule”), which specifies, among other requirements, minimum net capital requirements for registered broker-dealers. The Rule requires G&Co to maintain a minimum net capital of the greater of $5,000 or 1/15 of aggregate indebtedness, as defined in the Rule. As of December 31, 2012 and 2011, G&Co’s net capital was $7.4 million and $7.2 million, respectively, which exceeded its requirement by $6.6 million and $6.3 million, respectively. G&Co’s aggregate indebtedness to net capital ratio was 1.62 to 1 and 1.85 to 1 at December 31, 2012 and 2011, respectively. Certain distributions and other capital withdrawals of G&Co are subject to certain notifications and restrictive provisions of the Rule.

GCI and GCE are subject to capital requirements of the FSA. Greenhill Australia is subject to capital requirements of the ASIC. We are also subject to certain capital regulatory requirements in other jurisdictions. As of December 31, 2012 and 2011, GCI, GCE, Greenhill Australia, and our other regulated operations were in compliance with local capital adequacy requirements.