Cash and Cash Equivalents

3 Months Ended

Mar. 31, 2021

Cash and Cash Equivalents [Abstract]

Cash and Cash Equivalents

3. Cash and Cash Equivalents

Of the total cash and cash equivalents of $62,302 and $73,425 at March 31, 2021 and December 31, 2020, respectively, $59,919 and $70,911 were held at two financial institutions. At March 31, 2021 and December 31, 2020, cash equivalents were approximately $502 and $660, respectively.

Certain of the Company’s international subsidiaries are required to maintain a minimum level of regulatory capital, which was $12,222 and $10,745 at March 31, 2021 and December 31, 2020, respectively. These requirements are generally satisfied by cash on hand.

In addition, the Company collateralized its U.S. office lease through a standby letter of credit totaling $1,384 which is restricted from further use.