Regulatory requirements

9 Months Ended

Sep. 30, 2025

Regulated Operations [Abstract]

Regulatory requirements

Regulatory requirements

The Company's U.S. broker dealer subsidiaries, Oppenheimer and Freedom, are subject to the uniform net capital requirements of the SEC under Rule 15c3-1 (the "Rule") promulgated under the Exchange Act. Oppenheimer computes its net capital requirements under the alternative method provided for in the Rule which requires that Oppenheimer maintain net capital equal to two percent of aggregate customer-related debit items, as defined in SEC Rule 15c3-3. As of September 30, 2025, the net capital of Oppenheimer as calculated under the Rule was $383.0 million or 24.43% of Oppenheimer's aggregate debit items. This was $351.7 million in excess of the minimum required net capital at that date.

Freedom computes its net capital requirement under the basic method provided for in the Rule, which requires that Freedom maintain net capital equal to the greater of $100,000 or 6-2/3% of aggregate indebtedness, as defined. As of September 30, 2025, Freedom had net capital of $3.4 million, which was $3.3 million in excess of the $100,000 required to be maintained at that date.

As of September 30, 2025, the capital required and held under the Financial Conduct Authority's Investment Firms’ Prudential Regime (“IFPR”) for Oppenheimer Europe Ltd. was as follows:

•Common Equity Tier 1 ratio 130% (required 56.0%);

•Tier 1 Capital ratio 130% (required 75.0%); and

•Total Capital ratio 174% (required 100.0%).

As of September 30, 2025, Oppenheimer Europe Ltd. was in compliance with its regulatory requirements.

As of September 30, 2025, the regulatory capital of Oppenheimer Investments Asia Limited was $1.5 million, which was $1.1 million in excess of the $385,582 required to be maintained on that date. Oppenheimer Investments Asia Limited computes its regulatory capital pursuant to the requirements of the Securities and Futures Commission of Hong Kong. As of September 30, 2025, Oppenheimer Investments Asia Limited was in compliance with its regulatory requirements.

As of September 30, 2025, Oppenheimer Trust is required to maintain minimal capital of $4.15 million. Oppenheimer Trust is currently in compliance with its capital requirements.