Freedom Holding (FRHC) 10-Q/A 26 Apr 23 2022 Q3 Quarterly report (amended) Financial data

Cover

Cover - shares	9 Months Ended
	Dec. 31, 2021	Feb. 07, 2022
Cover [Abstract]
Document Type	10-Q/A
Document Quarterly Report	true
Document Period End Date	Dec. 31, 2021
Document Transition Report	false
Entity File Number	001-33034
Entity Registrant Name	FREEDOM HOLDING CORP.
Entity Incorporation, State or Country Code	NV
Entity Tax Identification Number	30-0233726
Entity Address, Address Line One	“Esentai Tower” BC, Floor 7
Entity Address, Address Line Two	77/7 Al Farabi Ave
Entity Address, City or Town	Almaty
Entity Address, Country	KZ
Entity Address, Postal Zip Code	50040
City Area Code	+7 727
Local Phone Number	311 10 64
Title of 12(b) Security	Common
Trading Symbol	FRHC
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		59,534,712
Amendment Description	Explanatory NoteThis Amendment No. 1 on Form 10-Q/A (this "Quarterly Report on Form 10-Q/A") amends and restates certain items noted below in the Quarterly Report on Form 10-Q of Freedom Holding Corp. (the “Company”) for the quarterly period ended December 31 2021, as originally filed with the Securities and Exchange Commission (“SEC”) on February 9, 2022 (the “Original Form 10-Q”).
Entity Central Index Key	0000924805
Amendment Flag	true
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2022

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Dec. 31, 2021	Sep. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Mar. 31, 2020
ASSETS
Cash and cash equivalents	$ 146,358		$ 168,017
Restricted cash	416,743		490,691
Trading securities	947,833		587,546
Available-for-sale securities, at fair value	1		1
Brokerage and other receivables, net	194,158		49,518
Loans issued	42,439		9,626
Fixed assets, net	17,399		15,571
Intangible assets, net	3,672		3,902
Goodwill	7,840		7,137
Right-of-use asset	6,926		4,626
Other assets	24,030		15,639
Assets held for sale	919,592		748,048	$ 748,048
TOTAL ASSETS	2,726,991		2,100,322
LIABILITIES AND SHAREHOLDERS’ EQUITY
Securities repurchase agreement obligations	627,493		374,718
Customer liabilities	553,015		671,825
Trade payables	50,375		22,002
Current income tax liability	20,579		14,199
Securities sold, not yet purchased – at fair value	15,167		8,569
Loans received	3,497		3,373
Debt securities issued	33,647		31,349
Lease liability	7,031		4,811
Deferred income tax liabilities	1,486		4,007
Deferred distribution payments	8,534		8,534
Other liabilities	4,950		4,707
Liabilities held for sale	809,727		676,568	676,568
TOTAL LIABILITIES	2,135,501		1,824,662
Commitments and Contingent Liabilities (Note 20)	0		0
SHAREHOLDERS’ EQUITY
Preferred stock - $0.001 par value; 20,000,000 shares authorized, no shares issued or outstanding	0		0
Common stock - $0.001 par value; 500,000,000 shares authorized; 59,534,712 and 58,443,212 shares issued and outstanding as of December 31, 2021 and March 31, 2021, respectively	59		58
Additional paid in capital	115,278		104,672
Retained earnings	516,149		208,617
Accumulated other comprehensive loss	(39,152)		(36,046)
TOTAL EQUITY ATTRIBUTABLE TO THE COMPANY	592,334		277,301
Non-controlling interest	(844)		(1,641)
TOTAL SHAREHOLDERS’ EQUITY	591,490	$ 543,377	275,660	$ 225,558	$ 175,716	$ 129,037
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$ 2,726,991		$ 2,100,322

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2021	Mar. 31, 2021
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.001
Preferred stock, authorized (in shares)	20,000,000
Preferred stock, issued (in shares)	0
Preferred stock, outstanding (in shares)	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, authorized (in shares)	500,000,000	500,000,000
Common stock, issued (in shares)	59,534,712	58,443,212
Common stock, outstanding (in shares)	59,534,712	58,443,212

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND STATEMENTS OF OTHER COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Revenue:
Fee and commission income	$ 91,411	$ 58,099	$ 262,715	$ 135,987
Net gain on trading securities	7,014	13,972	195,270	19,243
Interest income	24,799	5,224	59,339	11,762
Net gain on foreign exchange operations	1,106	103	3,773	142
Net (loss)/gain on derivative	(314)	946	(1,028)	61
TOTAL REVENUE, NET	124,016	78,344	520,069	167,195
Expense:
Fee and commission expense	20,640	18,295	61,246	45,771
Interest expense	18,434	3,223	44,432	8,802
Operating expense	28,243	10,338	63,544	22,236
Provision for impairment losses	32	952	614	1,573
Other (income)/expense, net	(94)	15	480	(57)
TOTAL EXPENSE	67,255	32,823	170,316	78,325
NET INCOME BEFORE INCOME TAX	56,761	45,521	349,753	88,870
Income tax expense	(1,768)	(6,599)	(38,980)	(11,698)
INCOME FROM CONTINUING OPERATIONS	54,993	38,922	310,773	77,172
Income/(loss) before income tax (expense)/benefit of discontinued operations	(5,067)	4,511	(4,609)	18,190
Income tax (expense)/benefit of discontinued operations	(962)	1,112	(953)	5,202
Income/(loss) from discontinued operations	(4,105)	3,399	(3,656)	12,988
NET INCOME	50,888	42,321	307,117	90,160
Less: Net (loss)/income attributable to non-controlling interest in subsidiary	(343)	(53)	(415)	243
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS	51,231	42,374	307,532	89,917
OTHER COMPREHENSIVE INCOME
Reclassification adjustment relating to available-for-sale investments disposed of in the period, net of tax effect	0	0	0	71
Foreign currency translation adjustments, net of tax effect	(7,336)	6,851	(3,106)	4,565
COMPREHENSIVE INCOME BEFORE NON-CONTROLLING INTERESTS	43,552	49,172	304,011	94,796
Less: Comprehensive (loss)/income attributable to non-controlling interest in subsidiary	(343)	(53)	(415)	243
COMPREHENSIVE INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS	$ 43,895	$ 49,225	$ 304,426	$ 94,553
Earnings from continuing operations per common share - basic (in dollars per share)	$ 0.93	$ 0.67	$ 5.25	$ 1.32
Earnings from continuing operations per common share - diluted (in dollars per share)	0.93	0.67	5.25	1.32
(Loss)/earnings from discontinued operations per common share - basic (in dollars per share)	(0.07)	0.06	(0.06)	0.22
(Loss)/earnings from discontinued operations per common share - diluted (in dollars per share)	(0.07)	0.06	(0.06)	0.22
Earnings per share, basic (in dollars per share)	0.86	0.73	5.18	1.54
Earnings per share, diluted (in dollars per share)	$ 0.86	$ 0.72	$ 5.18	$ 1.54
Weighted average number of shares, basic (in shares)	59,534,712,000	58,395,606,000	59,326,201,000	58,370,521,000
Weighted average number of shares, diluted (in shares)	59,534,712,000	58,450,688,000	59,326,201,000	58,423,467,000

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	9 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Cash Flows (Used In)/From Operating Activities
NET INCOME	$ 307,117,000	$ 90,160,000
Net income from discontinued operations	(3,656,000)	12,988,000
Net income/(loss) from continued operations	310,773,000	77,172,000
Adjustments to reconcile net income (used in)/from operating activities:
Depreciation and amortization	2,433,000	2,109,000
Noncash lease expense	2,344,000	2,094,000
Change in deferred taxes	(2,508,000)	1,485,000
Stock compensation expense	5,635,000	57,000
Share based payment	0	517,000
Unrealized (gain)/loss on trading securities	(5,487,000)	(5,680,000)
Net change in accrued interest	(24,664,000)	(392,000)
Allowances for receivables	615,000	1,573,000
Changes in operating assets and liabilities:
Lease liabilities	(2,613,000)	(1,873,000)
Trading securities	(358,257,000)	(37,819,000)
Brokerage and other receivables	(143,118,000)	52,407,000
Other assets	(9,680,000)	(1,289,000)
Securities sold, not yet purchased – at fair value	5,979,000	9,078,000
Customer liabilities	(230,970,000)	336,882,000
Current income tax liability	6,380,000	1,123,000
Trade payables	28,750,000	10,824,000
Other liabilities	(346,000)	(174,000)
Net cash flows (used in)/from operating activities from continuing operations	(414,734,000)	448,094,000
Net cash flows (used in)/from operating activities from discontinued operations	(222,901,000)	156,483,000
Net cash flows (used in)/from operating activities	(637,635,000)	604,577,000
Cash Flows (Used In)/From Investing Activities
Purchase of fixed assets	(4,066,000)	(1,011,000)
Proceeds from sale of fixed assets	175,000	7,000
Loans purchased from microfinance organization	(29,020,000)	0
Loans sold to microfinance organization	6,828,000	0
Loans issued	(11,946,000)	122,000
Proceeds from sale of available-for-sale securities, at fair value	0	6,437,000
Consideration paid for Zerich Capital Management	0	(7,110,000)
Consideration paid for Prime Executions	0	(2,500,000)
Consideration paid for Freedom Bank KZ	0	(53,097,000)
Cash, cash equivalents and restricted cash received from acquisitions	0	157,533,000
Net cash flows (used in)/from investing activities from continuing operations	(38,029,000)	100,381,000
Net cash flows (used in)/from investing activities from discontinued operations	(2,790,000)	(1,102,000)
Net cash flows (used in)/from investing activities	(40,819,000)	99,279,000
Cash Flows From Financing Activities
Proceeds from securities repurchase agreement obligations	270,146,000	(1,511,000)
Proceeds from issuance of debt securities	13,000,000	3,554,000
Repurchase of debt securities	(10,104,000)	(8,186,000)
Net change in bank customer deposits	83,448,000	6,555,000
Proceeds from loans received	0	2,423,000
Exercise of options	119,000	118,000
Net cash flows from/(used in) financing activities from continuing operations	356,609,000	2,953,000
Net cash flows from/(used in) financing activities from discontinued operations	37,982,000	193,788,000
Net cash flows from financing activities	394,591,000	196,741,000
Effect of changes in foreign exchange rates on cash and cash equivalents from continuing operations	(5,100,000)	(1,050,000)
Effect of changes in foreign exchange rates on cash and cash equivalents from discontinued operations	13,695,000	4,837,000
NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	(275,268,000)	904,384,000
Cash, cash equivalents and restricted cash, beginning of period from continuing operations	658,708,000	76,820,000
Cash, cash equivalents and restricted cash, beginning of period from discontinued operations	559,385,000	110,361,000
Cash, cash equivalents and restricted cash, beginning of period	1,218,093,000	187,181,000
Cash, cash equivalents and restricted cash, end of period from discontinued operations	379,724,000	475,298,000
Cash, cash equivalents and restricted cash end of period from continuing operations	563,101,000	616,267,000
Cash, cash equivalents and restricted cash, end of period	942,825,000	1,091,565,000
Supplemental non-cash disclosures:
Cash and cash equivalents	146,358,000	155,376,000
Restricted cash	416,743,000	460,891,000
Total cash, cash equivalents and restricted cash from continuing operations shown as in the statement of cash flows	$ 563,101,000	$ 616,267,000

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS EQUITY (Unaudited) - USD ($) $ in Thousands	Total	Common Stock	Additional paid in capital	Retained earnings	Accumulated other comprehensive loss	Non-controlling interest
Shares issued, beginning of period (in shares) at Mar. 31, 2020		58,358,212
Equity, beginning of period at Mar. 31, 2020	$ 129,037	$ 58	$ 102,890	$ 66,335	$ (37,974)	$ (2,272)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock based compensation (in shares)		15,000
Stock based compensation	1,090		1,090
Translation difference	4,565				4,565
Net income /(loss)	90,160			89,917		243
Exercise of options (in shares)		60,000
Stock Issued During Period, Value, Stock Options Exercised	118		118
Share based payment (in shares)		10,000
Share based payment	517		517
Reclassification adjustment relating to available-for-sale investments disposed of in the period, net of tax effect	71				71
Shares issued, end of period (in shares) at Dec. 31, 2020		58,443,212
Equity, end of period at Dec. 31, 2020	225,558	$ 58	104,615	156,252	(33,338)	(2,029)
Shares issued, beginning of period (in shares) at Sep. 30, 2020		58,358,212
Equity, beginning of period at Sep. 30, 2020	175,716	$ 58	103,945	113,878	(40,189)	(1,976)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock based compensation (in shares)		15,000
Stock based compensation	35		35
Translation difference	6,851				6,851
Net income /(loss)	42,321			42,374		(53)
Exercise of options (in shares)		60,000
Stock Issued During Period, Value, Stock Options Exercised	118		118
Share based payment (in shares)		10,000
Share based payment	517		517
Reclassification adjustment relating to available-for-sale investments disposed of in the period, net of tax effect	0
Shares issued, end of period (in shares) at Dec. 31, 2020		58,443,212
Equity, end of period at Dec. 31, 2020	225,558	$ 58	104,615	156,252	(33,338)	(2,029)
Shares issued, beginning of period (in shares) at Mar. 31, 2021		58,443,212
Equity, beginning of period at Mar. 31, 2021	275,660	$ 58	104,672	208,617	(36,046)	(1,641)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock based compensation (in shares)		1,031,500
Stock based compensation	11,284	$ 1	11,283
Translation difference	(3,106)				(3,106)
Net income /(loss)	307,117			307,532		(415)
Sale of Freedom UA shares	$ 416		(796)			1,212
Exercise of options (in shares)	60,000	60,000
Stock Issued During Period, Value, Stock Options Exercised	$ 119		119
Reclassification adjustment relating to available-for-sale investments disposed of in the period, net of tax effect	0
Shares issued, end of period (in shares) at Dec. 31, 2021		59,534,712
Equity, end of period at Dec. 31, 2021	591,490	$ 59	115,278	516,149	(39,152)	(844)
Shares issued, beginning of period (in shares) at Sep. 30, 2021		59,534,712
Equity, beginning of period at Sep. 30, 2021	543,377	$ 59	110,717	464,918	(31,816)	(501)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock based compensation	4,561		4,561
Translation difference	(7,336)				(7,336)
Net income /(loss)	50,888			51,231		(343)
Reclassification adjustment relating to available-for-sale investments disposed of in the period, net of tax effect	0
Shares issued, end of period (in shares) at Dec. 31, 2021		59,534,712
Equity, end of period at Dec. 31, 2021	$ 591,490	$ 59	$ 115,278	$ 516,149	$ (39,152)	$ (844)

DESCRIPTION OF BUSINESS

DESCRIPTION OF BUSINESS	3 Months Ended
	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business	DESCRIPTION OF BUSINESS Overview Freedom Holding Corp. (the “Company” or “FRHC”) is a corporation organized in the United States under the laws of the State of Nevada that through its operating subsidiaries provides financial services including retail securities brokerage, investment research, investment advisory services, securities trading, market making, investment banking and underwriting services and complementary banking services in Eurasia. The Company is headquartered in Almaty, Kazakhstan, with supporting administrative office locations in Russia, Cyprus and the United States. The Company has retail locations in Russia, Kazakhstan, Cyprus, Ukraine, Uzbekistan, Kyrgyzstan, Azerbaijan, Armenia and Germany. The Company also owns an institutional broker dealer registered with the U.S. Securities and Exchange Commission (“SEC”). The Company’s common stock trades on the Nasdaq Capital Market. The Company owns directly, or through subsidiaries, the following companies: • LLC Investment Company Freedom Finance, a Moscow, Russia-based securities broker-dealer (“Freedom RU”); • LLC FFIN Bank, a Moscow, Russia-based bank (“Freedom Bank RU”); • JSC Freedom Finance, an Almaty, Kazakhstan-based securities broker-dealer (“Freedom KZ”); • Freedom Finance Global PLC, an Astana International Financial Centre-based securities broker-dealer, (“Freedom Global”); • Bank Freedom Finance Kazakhstan JSC, an Almaty, Kazakhstan-based bank (“Freedom Bank KZ”); • Freedom Finance Special Purpose Company LTD, an Astana International Financial Centre-based special purpose company (“Freedom SPC”); • Freedom Finance Commercial LLP, a Kazakhstan-based sales consulting company (“Freedom Commercial”); • Freedom Finance Europe Limited, a Limassol, Cyprus-based broker-dealer (“Freedom EU”); • Freedom Finance Technologies Ltd, a Limassol, Cyprus-based IT development company (“Freedom Technologies”); • Freedom Finance Germany GmbH, a Berlin, Germany-based tied agent of Freedom EU (“Freedom GE”); • UK Prime Limited, a London, United Kingdom-based financial intermediary company (“Prime UK”); • LLC Freedom Finance Uzbekistan, a Tashkent, Uzbekistan-based broker-dealer (“Freedom UZ”); • LLC Freedom Finance Azerbaijan, an Azerbaijan-based financial educational center (“Freedom AZ”); • LLC Freedom Finance Armenia, an Armenia-based broker-dealer (“Freedom AR”); • Prime Executions, Inc., a New York City, New York-based NYSE institutional brokerage, that recently received approval to engage in certain capital markets and investment banking activities (“PrimeEx”); and • FFIN Securities, Inc., a currently-dormant Nevada corporation (“FFIN”) As of December 31, 2021, the Company also owned a 9% interest in LLC Freedom Finance Ukraine, a Kiev, Ukraine-based broker-dealer (“Freedom UA”). The remaining 91% interest in Freedom UA is owned by Askar Tashtitov, the Company’s president. However, as a result of a series of contractual relationships between FRHC and Freedom UA, we account for Freedom UA as a variable interest entity (“VIE”) under the accounting standards of the Financial Accounting Standards Board (“FASB”). Accordingly, the financial statements of Freedom UA are consolidated into the financial statements of the Company. Prior to July 2021 we owned approximately 32.9% of Freedom UA, but due to recent changes to Ukrainian regulations to further restrict foreign ownership of registered Ukrainian broker-dealers, in July 2021 we were required to sell approximately 23.9% of our equity interest in Freedom UA to Mr. Tashtitov, reducing our direct ownership interest in Freedom UA to approximately 9%. In April 2019 the Company entered into a series of contractual arrangements with Freedom UA and Mr. Tashtitov that obligate the Company to guarantee the performance of all Freedom UA obligations and provide Freedom UA sufficient funding to cover all operating losses and net capital requirements, enable the Company to receive 90% of the net profits of Freedom UA after tax, and require the Company to provide Freedom UA the management competence, operational support, and ongoing access to the Company’s significant assets, necessary technology resources and expertise to conduct the business of Freedom UA. On October 17, 2022, the Company has entered into an agreement to sell its Russian subsidiaries, Freedom RU and Freedom Bank RU. For financial information regarding the Company's Russian subsidiaries see Note 22 - Assets and Liabilities held for sale and Divestiture of our Russian Subsidiaries in the Overview section of Management's Discussion and Analysis of Financial Condition and Results of Operations in this quarterly report on Form 10-Q/A. In addition, the Company intends to sell its Freedom Finance Auto LLC subsidiary, which is not material in the context of its operations. The sale of Freedom Finance Auto LLC by the Company is a condition precedent in the agreement to sell Freedom RU and Freedom Bank RU. The Company’s subsidiaries are professional participants on the Kazakhstan Stock Exchange (KASE), Astana Stock Exchange (AIX), Moscow Exchange (MOEX), Saint-Petersburg Exchange (SPBX), the Ukrainian Exchange (UX), the Republican Stock Exchange of Tashkent (UZSE), the Uzbek Republican Currency Exchange (UZCE) and a member of the New York Stock Exchange (NYSE) and Nasdaq Stock Exchange (Nasdaq). We also own a 24.3% interest in the UX. Unless otherwise specifically indicated or as is otherwise contextually required, FRHC, Freedom RU, Freedom Bank RU, Freedom KZ, Freedom Global, Freedom Bank KZ, Freedom SPC, Freedom Commercial, Freedom EU, Freedom Technologies, Freedom GE, Prime UK, Freedom UZ, Freedom AZ, Freedom AR, PrimeEx and FFIN are collectively referred to herein as the “Company”.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Accounting principles The Company’s accounting policies and accompanying condensed consolidated financial statements conform to accounting principles generally accepted in the United States of America (U.S. GAAP). These financial statements have been prepared on the accrual basis of accounting. Basis of presentation and principles of consolidation The Company’s consolidated financial statements present the consolidated accounts of FRHC, Freedom RU, Freedom Bank RU, Freedom KZ, Freedom Global, Freedom Bank KZ, Freedom SPC, Freedom Commercial, Freedom EU, Freedom Technologies, Freedom GE, Prime UK, Freedom UZ, Freedom AZ, Freedom AR, PrimeEx, and FFIN. All significant inter-company balances and transactions have been eliminated from the consolidated financial statements. Consolidation of variable interest entities In accordance with accounting standards regarding consolidation of variable interest entities (“VIEs”), the primary beneficiary is required to consolidate the VIE for financial reporting purposes. VIEs are generally entities that lack sufficient equity to finance their activities without additional financial support from other parties or whose equity holders lack adequate decision-making ability. VIEs must be evaluated to determine the primary beneficiary of the risks and rewards of the VIE. Use of estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Management believes that the estimates utilized in preparing its financial statements are reasonable and prudent. Actual results could differ from those estimates. Revenue recognition Accounting Standards Codification (“ASC”) Topic 606, Revenue from Contracts with Customers (“ASC Topic 606”), establishes principles for reporting information about the nature, amount, timing and uncertainty of revenue and cash flows arising from the entity’s contracts to provide goods or services to customers. The core principle requires an entity to recognize revenue to depict the transfer of goods or services promised to customers in an amount that reflects the consideration that it expects to be entitled to receive in exchange for those goods or services recognized as performance obligations are satisfied. A significant portion of the Company’s revenue-generating transactions are not subject to ASC Topic 606, including revenue generated from financial instruments, such as loans and investment securities, as these activities are subject to other U.S. GAAP guidance discussed elsewhere within these disclosures. Descriptions of the Company’s revenue-generating activities that are within the scope of ASC Topic 606, which are presented in the Condensed Consolidated Statements of Operations and Statements of Other Comprehensive Income as components of non-interest income are as follows: • Commissions on brokerage services; • Commissions on banking services (money transfers, foreign exchange operations and other); and • Commissions on investment banking services (underwriting, market making, and bondholders’ representation services). Under Topic 606, the Company is required to recognize commission fees when they are probable and there is not a significant chance of reversal in the future. The Company recognizes revenue in accordance with this core principle by applying the following steps: • Step 1: Identify the contract(s) with a customer - A contract is an agreement between two or more parties that creates enforceable rights and obligations. • Step 2: Identify the performance obligations in the contract - A contract includes promises to transfer goods or services to a customer. If those goods or services are distinct, the promises are performance obligations and are accounted for separately. • Step 3: Determine the transaction price - The transaction price is the amount of consideration in a contract to which an entity expects to be entitled in exchange for transferring promised goods or services to a customer. The transaction price can be a fixed amount of customer consideration, but it may sometimes include variable consideration or consideration in a form other than cash. The transaction price also is adjusted for the effects of the time value of money if the contract includes a significant financing component and for any consideration payable to the customer. If the consideration is variable, an entity estimates the amount of consideration to which it will be entitled in exchange for the promised goods or services. The estimated amount of variable consideration will be included in the transaction price only to the extent that it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is subsequently resolved. • Step 4: Allocate the transaction price to the performance obligations in the contract - An entity typically allocates the transaction price to each performance obligation on the basis of the relative standalone selling prices of each distinct good or service promised in the contract. If a standalone selling price is not observable, an entity estimates it. Sometimes, the transaction price includes a discount or a variable amount of consideration that relates entirely to a part of the contract. • Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation - An entity recognizes revenue when (or as) it satisfies a performance obligation by transferring a promised good or service to a customer (which is when the customer obtains control of that good or service). The amount of revenue recognized is the amount allocated to the satisfied performance obligation. A performance obligation may be satisfied at a point in time (typically for promises to transfer goods to a customer) or over time (typically for promises to transfer services to a customer). For performance obligations satisfied over time, an entity recognizes revenue over time by selecting an appropriate method for measuring the entity’s progress toward complete satisfaction of that performance obligation. Interest income Interest income on margin loans, loans issued, trading securities, available-for-sale securities and reverse repurchase agreement obligations is recognized based on the contractual provisions of the underlying arrangements. Loan premiums and discounts are deferred and generally amortized into interest income as yield adjustments over the contractual life and/or commitment period using the effective interest method. Unamortized premiums, discounts and other basis adjustments on trading securities are generally recognized in interest income over the contractual lives of the securities using the effective interest method. Derivative financial instruments In the normal course of business, the Company invests in various derivative financial contracts including futures. Derivatives are initially recognized at fair value at the date a derivative contract is entered into and are subsequently re-measured to their fair value at each reporting date. The fair values are estimated based on quoted market prices or pricing models that take into account the current market and contractual prices of the underlying instruments and other factors. Derivatives are carried as assets when their fair value is positive and as liabilities when it is negative. Loans The Company’s loan portfolio is divided into three portfolio segments: credit cards, mortgages and retail banking loans. Credit cards consist of loans provided to individuals and businesses through the cards. Mortgage loans consist of loans provided to individuals to purchase real estate, which is used as collateral for the loan. Retail banking loans consist of unsecured loans provided to individuals. Loans Acquired All purchased loans are initially recorded at fair value, which includes consideration of expected future losses, at the date of the loan acquisition. To determine the fair value of loans at the date of acquisition, the Company estimates the discounted contractual cash flows due using an observable market rate of interest, adjusted for factors such as probable default rates of the borrowers, and the loan terms that a market participant would consider in determining fair value. In determining fair value, contractual cash flows are adjusted to include prepayment estimates based upon historical payment trends, forecasted default rates and loss severities and other relevant factors. The difference between the fair value and the contractual cash flows is recorded as a loan premium or discount, which may relate to either credit or non-credit factors, at acquisition. The Company accounts for purchased loans under the accounting guidance for purchased financial assets with credit deterioration when, at the time of purchase, the loans have experienced a more-than-insignificant deterioration in credit quality since origination. The Company recognizes an allowance for credit losses on purchased loans that have not experienced a more-than-insignificant deterioration in credit quality since origination at the time of purchase through earnings in a manner that is consistent with originated loans. The policies relating to the allowance for credit losses on loans is described below in the “Estimate of Incurred Loan Losses” section of this Note. Estimate of Incurred Loan Losses. The allowance represents management’s current estimate of incurred loan losses inherent in the Company’s loan portfolio as of each balance sheet date. The provision for credit losses reflects credit losses the Company believes have been incurred and will eventually be recognized over time through charge-offs. Management performed a quarterly analysis of the Company’s loan portfolio to determine if impairment had occurred and to assess the adequacy of the allowance based on historical and current trends as well as other factors affecting credit losses. The Company applied separate calculations of the allowances for its credit cards, mortgages and retail loan portfolios. Based on the adopted methodology, the Company estimated the probability of default based on historical default rates, adjusted for certain macro indicators, such as GDP, average exchange rates, unemployment rate and real wage index. Loss given default is calculated based on the collateral coverage of the loans. The Company’s allowance for loan losses consists of two components that are allocated to cover the estimated probable losses in each loan portfolio based on the results of the Company’s detailed review and loan impairment assessment process: (i) a component for loans collectively evaluated for impairment; and (ii) an asset-specific component for individually impaired loans. The component of the allowance related to credit card, mortgages and retail banking loans that the Company collectively evaluated for impairment is based on a statistical calculation and on its historical loss experience for loans with similar risk characteristics and consideration of the current credit quality of the portfolio. The asset-specific component of the allowance includes smaller-balance homogeneous credit card and retail banking loans whose terms have been modified in a troubled debt restructuring and larger-balance nonperforming, non-homogeneous commercial banking loans. The Company generally measures the asset-specific component of the allowance based on the difference between the recorded investment of individually impaired loans and the present value of expected future cash flows. In addition to the allowance, the Company also estimates probable losses related to contractually binding unfunded lending commitments. Functional currency Management has adopted ASC 830, Foreign Currency Translation Matters as it pertains to its foreign currency translation. The Company’s functional currencies are the Russian ruble, European euro, U.S. dollar, Ukrainian hryvnia, Uzbekistani som, Kazakhstani tenge, Kyrgyzstani som, UK pound sterling, Azerbaijani manat and the Armenian dram, and its reporting currency is the U.S. dollar. For financial reporting purposes, foreign currencies are translated into U.S. dollars as the reporting currency. Monetary assets and liabilities denominated in foreign currencies are translated into U.S. dollars using the exchange rate prevailing at the balance sheet date. Non-monetary assets and liabilities denominated in foreign currencies are translated at rates of exchange in effect at the date of the transaction. Average monthly rates are used to translate revenues and expenses. Translation adjustments arising from the use of different exchange rates from period to period are included as a component of stockholders’ equity as “Accumulated other comprehensive loss”. Cash and cash equivalents Cash and cash equivalents are generally comprised of certain highly liquid investments with maturities of three months or less at the date of purchase. Cash and cash equivalents include reverse repurchase agreements which are recorded at the amounts at which the securities were acquired or sold plus accrued interest. Securities reverse repurchase and repurchase agreements A reverse repurchase agreement is a transaction in which the Company purchases financial instruments from a seller, typically in exchange for cash, and simultaneously enters into an agreement to resell the same or substantially the same financial instruments to the seller for an amount equal to the cash or other consideration exchanged plus interest at a future date. Securities purchased under reverse repurchase agreements are accounted for as collateralized financing transactions and are recorded at the contractual amount for which the securities will be resold, including accrued interest. Financial instruments purchased under reverse repurchase agreements are recorded in the financial statements as cash placed on deposit collateralized by securities and classified as cash and cash equivalents in the Condensed Consolidated Balance Sheets. A repurchase agreement is a transaction in which the Company sells financial instruments to another party, typically in exchange for cash, and simultaneously enters into an agreement to reacquire the same or substantially the same financial instruments from the buyer for an amount equal to the cash or other consideration exchanged plus interest at a future date. These agreements are accounted for as collateralized financing transactions. The Company retains the financial instruments sold under repurchase agreements and classifies them as trading securities in the Condensed Consolidated Balance Sheets. The consideration received under repurchase agreements is classified as securities repurchase agreement obligations in the Condensed Consolidated Balance Sheets. The Company enters into reverse repurchase, repurchase, securities borrowed and securities loaned transactions to, among other things, acquire securities to leverage and grow its proprietary trading portfolio, cover short positions and settle other securities obligations, to accommodate customers’ needs and to finance its inventory positions. The Company enters into these transactions in accordance with normal market practice. Under standard terms for repurchase transactions, the recipient of collateral has the right to sell or repledge the collateral, subject to returning equivalent securities on settlement of the transaction. Available-for-sale securities Financial assets categorized as available-for-sale (“AFS”) are non-derivatives that are either designated as available-for-sale or not classified as (a) loans and receivables, (b) held-to-maturity securities or (c) trading securities. Listed shares and listed redeemable notes held by the Company that are traded in an active market are classified as AFS and are stated at fair value. The Company has investments in unlisted shares that are not traded in an active market that are also classified as investments AFS and stated at fair value (because Company management considers that fair value can be reliably measured). Gains and losses arising from changes in fair value are recognized in other comprehensive income and are included in accumulated other comprehensive loss, with the exception of other-than-temporary impairment losses, interest calculated using the effective interest method, dividend income and foreign exchange gains and losses, which are recognized in the Condensed Consolidated Statements of Operations and Statements of other Comprehensive Income. When the investment is disposed of or is determined to be impaired, the cumulative gain or loss previously accumulated in the investments’ revaluation reserve is then reclassified to Condensed Consolidated Statements of Operations and Statements of Other Comprehensive Income. Trading securities Financial assets are classified as trading securities if the financial asset has been acquired principally for the purpose of selling it in the near term. Trading securities are stated at fair value, with any gains or losses arising on remeasurement recognized in revenue. Changes in fair value are recognized in the Condensed Consolidated Statements of Operations and Statements of Other Comprehensive Income and included in net gain on trading securities. Interest earned and dividend income are recognized in the Condensed Consolidated Statements of Operations and Statements of Other Comprehensive Income and are included in interest income, according to the terms of the contract and when the right to receive the payment has been established. Investments in nonconsolidated managed funds are accounted for at fair value based on the net asset value (“NAV”) of the funds provided by the fund managers with gains or losses included in net gain on trading securities in the Condensed Consolidated Statements of Operations and Statements of Other Comprehensive Income. Debt securities issued Debt securities issued are initially recognized at the fair value of the consideration received, less directly attributable transaction costs. Subsequently, amounts due are stated at amortized cost and any difference between net proceeds and the redemption value is recognized over the period of the borrowings using the effective interest method. If the Company purchases its own debt, it is removed from the Condensed Consolidated Balance Sheets and the difference between the carrying amount of the liability and the consideration paid is recognized in the Condensed Consolidated Statements of Operations and Statements of Other Comprehensive Income. Brokerage and other receivables Brokerage and other receivables are comprised of commissions and receivables related to the securities brokerage and banking activity of the Company. At initial recognition, brokerage and other receivables are recognized at fair value. Subsequently, brokerage and other receivables are carried at cost net of any allowance for impairment losses. Margin lending The Company engages in securities financing transactions with and for clients through margin lending. Under agreements, the Company is permitted to sell or repledge securities received as collateral and use these securities to secure securities acquired under resale agreements, enter into securities lending transactions or deliver these securities to counterparties to cover short positions. Margi n lending tends to have lower credit risk due to the value of the collateral held and also its short-term nature. Margin lending balances tend to fluctuate from period to period as total customer balances change because of changing market levels, customer positioning and leverage. Client margin requirements and established credit limits are continuously monitored by risk management of the Company. It is Company policy that clients must post additional collateral or reduce positions when necessary to avoid automatic liquidation of their positions. Derecognition of financial assets A financial asset (or, where applicable a part of a financial asset or a part of a group of similar financial assets) is derecognized when all of the following conditions are met: • The transferred financial assets have been isolated from the Company - put presumptively beyond the reach of the Company and its creditors, even in bankruptcy or other receivership. • The transferee has rights to pledge or exchange financial assets. • The Company or its agents do not maintain effective control over the transferred financial assets or third-party beneficial interests related to those transferred assets Where the Company has not met the asset derecognition conditions above, it continues to recognize the asset to the extent of its continuing involvement. Impairment of long-lived assets In accordance with the accounting guidance for the impairment or disposal of long-lived assets, the Company periodically evaluates the carrying value of long-lived assets to be held and used when events and circumstances warrant such a review. The carrying value of a long-lived asset is considered impaired when the fair value from such asset is less than its carrying value. In that event, a loss is recognized based on the amount by which the carrying value exceeds the fair value of the long-lived asset. Fair value is determined primarily using the anticipated cash flows, discounted at a rate commensurate with the risk involved. Losses on long-lived assets to be disposed of are determined in a similar manner, except that fair values are reduced for the cost of disposal. Impairment of goodwill As of December 31, 2021, and March 31, 2021, goodwill recorded in the Company’s Consolidated Balance Sheets totaled $7,840 and $7,868, respectively. The Company performs an impairment review at least annually unless indicators of impairment exist in interim periods. The impairment test for goodwill uses a two-step approach. Step one compares the estimated fair value of a reporting unit with goodwill to its carrying value. If the carrying value exceeds the estimated fair value, step two must be performed. Step two compares the carrying value of the reporting unit to the fair value of all of the assets and liabilities of the reporting unit as if the reporting unit was acquired in a business combination. If the carrying amount of a reporting unit’s goodwill exceeds the implied fair value of its goodwill, an impairment loss is recognized in an amount equal to the excess. In its annual goodwill impairment test, the Company estimated the fair value of the reporting unit based on the income approach (also known as the discounted cash flow method) and determined the fair value of the Company’s goodwill exceeded the carrying amount of the Company’s goodwill. The goodwill value as of December 31, 2021, decreased compared to March 31, 2021, due to foreign exchange currency translation. The changes in the carrying amount of goodwill as of March 31, 2021, and for the quarter December 31, 2021, were as follows: Balance as of March 31, 2021 $ 7,137 Foreign currency translation 703 Balance as of December 31, 2021 $ 7,840 Asset and Liabilities Held for Sale The Company classifies assets and liabilities (the "disposal group") as held for sale in the period when all of the relevant criteria to be classified as held for sale are met. Criteria include management commitment to sell the disposal group in its present condition and the sale being deemed probable of being completed within one year. Assets held for sale are reported at the lower of their carrying value or fair value less cost to sell. Any loss resulting from the measurement is recognized in the period the held for sale criteria are met. The Company assesses the fair value of a disposal group, less any costs to sell, each reporting period it remains classified as held for sale and reports any subsequent changes as an adjustment to the carrying value of the disposal group, as long as the new carrying value does not exceed the initial carrying value of the disposal group. Assets held for sale are not amortized or depreciated. A disposal group that represents a strategic shift to the Company or is acquired with the intention to sell is reflected as a discontinued operation on the Condensed Consolidated Statements of Operation and Statement of Other Comprehensive Income and prior periods are recast to reflect the earnings or losses as income from discontinued operations. The Condensed Consolidated Financial Statements and related Notes reflect the securities brokerage and complementary banking operations in Russia as discontinued operations as the Company has entered into an agreement to divest these operations. The sale of these operations was approved by the Central Bank of the Russian Federation on February 10, 2023, and the sale was completed on February 28, 2023. For the purpose of preparing current amended condensed consolidated financial statements, the Company has reclassified Russian business's assets and liabilities as held for sale. Additional information is presented in Note 3 "Recast". Income taxes The Company recognizes deferred tax liabilities and assets based on the difference between the financial statements and tax basis of assets and liabilities using the enacted tax rates in effect for the year in which the differences are expected to reverse. The measurement of deferred tax assets is reduced, if necessary, by the amount of any tax benefits that, based on available evidence, are not expected to be realized. Current income tax expenses are provided for in accordance with the laws of the relevant taxing authorities. As part of the process of preparing financial statements, the Company is required to estimate its income taxes in each of the jurisdictions in which it operates. The Company accounts for income taxes using the asset and liability approach. Under this method, deferred income taxes are recognized for tax consequences in future years based on differences between the tax bases of assets and liabilities and their reported amounts in the financial statements at each year-end and tax loss carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates applicable for the differences that are expected to affect taxable income. The Company will include interest and penalties arising from the underpayment of income taxes in the provision for income taxes (if anticipated). As of December 31, 2021, and March 31, 2021, the Company had no accrued interest or penalties related to uncertain tax positions. The Global Intangible Low-Taxed Income (“GILTI”) provisions of the Tax Reform Act require the Company to include in its U.S. income tax return foreign subsidiary earnings in excess of an allowable return on the foreign subsidiary’s tangible assets. The Company has presented the deferred tax impacts of GILTI tax in its consolidated financial statements as of December 31, 2021 and 2020. Financial instruments Financial instruments are carried at fair value as described below. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value measurement is based on the presumption that the transaction to sell the asset or transfer the liability takes place either in the principal market for the asset or liability, or in the absence of a principal market, in the most advantageous market for the asset or liability. Fair value is the current bid price for financial assets, current ask price for financial liabilities and the average of current bid and ask prices when the Company is both in short and long positions for the financial instrument. A financial instrument is regarded as quoted in an active market if quoted prices are readily and regularly available from an exchange or other institution and those prices represent actual and regularly occurring market transactions on an arm’s length basis. Leases The Company adopted ASU No. 2016-02, “Leases (Topic 842)”, which requires leases with durations greater than twelve months to be recognized on the balance sheet. Right-of-use assets and corresponding lease liabilities are recognized on the Company’s Consolidated Balance Sheets. Refer to Note 19 - Leases, within the notes to condensed consolidated financial statements for additional disclosure and significant accounting policies affecting leases. Fixed assets Fixed assets are carried at cost, net of accumulated depreciation. Maintenance, repairs, and minor renewals are expensed as incurred. Depreciation is computed using the straight-line method over the estimated useful lives of the assets, which range between three Segment information Historically, the Company's chief operating decision maker ("CODM"), who is its chief executive officer, viewed the Company as a single operating segment offering financial services to its customers in a single geographic region covering Eurasia . The CODM recently, however, restructured the Company's operations into five geographical regions ("segments"). These regions include Central Asia, Europe, the U.S., Russia, and Middle East/Causcasus. In order to determine appropriate segment disclosure as stated in ASC 280-10-55-26 the Company followed the steps outlined below: • identified operating segments using the management approach; • determined whether two or more operating segments may be aggregated into a single operating segment; • applied the quantitative thresholds and other criteria to determine reportable segments; • considered what information should be disclosed for each reportable segment; and • considered what information should be disclosed on an entity-wide basis. Recent accounting pronouncements In June 2016 the FASB issued Accounting Standards Update No. 2016-13, “Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments”, which introduced an expected credit loss methodology for the impairment of financial assets measured at amortized cost basis. That methodology replaces the probable, incurred loss model for those assets. In November 2019, the FASB issued ASU 2019-10 “Financial Instruments-Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842)”. The FASB developed a philosophy to extend and simplify how effective dates are staggered between larger public companies (bucket one) and all other entities (bucket two). Those other entities include private companies, smaller public companies, not-for-profit organizations, and employee benefit plans. Under this philosophy, a major update would first be effective for bucket-one entities, that is, public business entities that are SEC filers, excluding entities eligible to be smaller reporting companies (SRCs) under the SEC’s definition. The Master Glossary of the Codification defines public business entities and SEC filers. All other entities, including SRCs, other public business entities, and nonpublic business entities (private companies, not-for-profit organizations, and employee benefit plans) would compose bucket two. For those entities, it is anticipated that the FASB will consider requiring an effective date staggered at least two years after bucket one for major updates. At the date when ASU 2016-13 was issued, the Company was an SRC and according to ASU 2019-10, qualifies for bucket two. Accordingly, ASU 2016-13 and ASU 2017-12 are effective for fiscal years beginning after December 15, 2022. The Company is currently evaluating the impact that ASU 2016-13 and 2017-12 will have on its consolidated financial statements and related disclosures. In January 2021 the FASB issued ASU No. 2021-01, Reference Rate Reform (Topic 848): Scope, which clarifies that certain optional expedients and exceptions in FASB Accounting Standards Codification (ASC) Topic 848, Reference Rate Reform, for contract modifications and hedge accounting apply as well to derivatives that are affected by the changes in interest rates used for margining, discounting or contract price alignment (i.e., the discounting transition). Examples of such use include (1) rates used in interest rate swaps to compute the cash flows for the swap’s variable leg, (2) interest rate indexes used to discount the future cash flows of a derivative instrument to determine its fair value, and (3) the compensation or the interest amount earned on margin payments (i.e., contract price alignme

RECAST

RECAST	9 Months Ended
	Dec. 31, 2021
Accounting Changes and Error Corrections [Abstract]
Recast	RECAST When preparing the condensed consolidated financial statements as of September 30, 2022 and for the three and six months ended September 30, 2022, management determined that certain amounts included in the Company’s condensed consolidated financial statements as of December 31, 2021, and 2020, required revision, because the assets and liabilities to be disposed of in connection with the planned sale of Freedom RU and Freedom Bank RU met the held for sale criteria, such subsidiaries are presented as discontinued operations in accordance with ASC 205 and 360 in the condensed consolidated financial statements as of December 31, 2021 and for the three and nine months ended December 31, 2021 and in the corresponding periods of 2020 for comparative purposes. For additional information see Note 22 Assets and Liabilities held for sale to the condensed consolidated financial statements. The previously issued Condensed Consolidated Balance Sheets as of December 31, 2021, and March 31, 2021 and Condensed Consolidated Statement of Operations and Statements of Other Comprehensive Income for the three and nine months ended December 31, 2021, and 2020 have been revised as follows: As of December 31, 2021 As previously reported Recast discontinued operations As recasted ASSETS Cash and cash equivalents $ 493,263 $ (346,905) $ 146,358 Trading securities 1,348,656 (400,823) 947,833 Restricted cash 404,718 12,025 416,743 Brokerage and other receivables, net 302,403 (108,245) 194,158 Loans issued 44,995 (2,556) 42,439 Other assets 30,321 (6,291) 24,030 Fixed assets, net 21,221 (3,822) 17,399 Right-of-use asset 17,830 (10,904) 6,926 Intangible assets, net 8,703 (5,031) 3,672 Goodwill 7,840 — 7,840 Available-for-sale securities, at fair value 1 — 1 Assets held for sale — 919,592 919,592 TOTAL ASSETS $ 2,679,951 $ 47,040 $ 2,726,991 LIABILITIES AND SHAREHOLDERS’ EQUITY Securities repurchase agreement obligations $ 710,284 $ (82,791) $ 627,493 Customer liabilities 1,145,070 (592,055) 553,015 Trade payables 51,031 (656) 50,375 Current income tax liability 20,620 (41) 20,579 Securities sold, not yet purchased – at fair value 15,167 — 15,167 Loans received 3,497 — 3,497 Debt securities issued 105,363 (71,716) 33,647 Lease liability 17,573 (10,542) 7,031 Deferred income tax liabilities 1 1,485 1,486 Deferred distribution payments 8,534 — 8,534 Liabilities held for sale — 809,727 809,727 Other liabilities 11,321 (6,371) 4,950 TOTAL LIABILITIES 2,088,461 47,040 2,135,501 Commitments and Contingent Liabilities (Note 30) — — — SHAREHOLDERS’ EQUITY Preferred stock - $0.001 par value; 20,000,000 shares authorized, no shares issued or outstanding — — — Common stock - $0.001 par value; 500,000,000 shares authorized; 59 — 59 Additional paid in capital 115,278 — 115,278 Retained earnings 516,149 — 516,149 Accumulated other comprehensive loss (39,152) — (39,152) TOTAL EQUITY ATTRIBUTABLE TO THE COMPANY 592,334 — 592,334 Non-controlling interest (844) — (844) TOTAL SHAREHOLDERS’ EQUITY 591,490 — 591,490 TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 2,679,951 $ 47,040 $ 2,726,991 As of March 31, 2021 As previously reported Recast discontinued operations As recasted ASSETS Cash and cash equivalents $ 698,828 $ (530,811) $ 168,017 Trading securities 736,188 (148,642) 587,546 Restricted cash 437,958 52,733 490,691 Brokerage and other receivables, net 64,801 (15,283) 49,518 Loans issued 11,667 (2,041) 9,626 Other assets 19,902 (4,263) 15,639 Fixed assets, net 18,385 (2,814) 15,571 Right-of-use asset 13,262 (8,636) 4,626 Intangible assets, net 9,785 (5,883) 3,902 Goodwill 7,868 (731) 7,137 Available-for-sale securities, at fair value 1 — 1 Assets held for sale — 748,048 748,048 TOTAL ASSETS $ 2,018,645 $ 81,677 $ 2,100,322 LIABILITIES AND SHAREHOLDERS’ EQUITY Securities repurchase agreement obligations $ 426,715 $ (51,997) $ 374,718 Customer liabilities 1,163,697 (491,872) 671,825 Trade payables 22,304 (302) 22,002 Current income tax liability 14,843 (644) 14,199 Securities sold, not yet purchased – at fair value 8,592 (23) 8,569 Loans received 3,373 — 3,373 Debt securities issued 68,443 (37,094) 31,349 Lease liability 13,249 (8,438) 4,811 Deferred income tax liabilities 4,385 (378) 4,007 Deferred distribution payments 8,534 — 8,534 Liabilities held for sale — 676,568 676,568 Other liabilities 8,850 (4,143) 4,707 TOTAL LIABILITIES 1,742,985 81,677 1,824,662 Commitments and Contingent Liabilities (Note 30) — — — SHAREHOLDERS’ EQUITY Preferred stock - $0.001 par value; 20,000,000 shares authorized, no shares issued or outstanding — — — Common stock - $0.001 par value; 500,000,000 shares authorized; 58 — 58 Additional paid in capital 104,672 — 104,672 Retained earnings 208,617 — 208,617 Accumulated other comprehensive loss (36,046) — (36,046) TOTAL EQUITY ATTRIBUTABLE TO THE COMPANY 277,301 — 277,301 Non-controlling interest (1,641) — (1,641) TOTAL SHAREHOLDERS’ EQUITY 275,660 — 275,660 TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 2,018,645 $ 81,677 $ 2,100,322 Three months ended December 31, 2021 As previously reported* Recast discontinued operations As recasted Revenue: Fee and commission income $ 117,316 $ (25,905) $ 91,411 Net gain on trading securities 403 6,611 7,014 Interest income 27,828 (3,029) 24,799 Net (loss)/gain on foreign exchange operations 451 655 1,106 Net loss on derivative (314) — (314) TOTAL REVENUE, NET 145,684 (21,668) 124,016 Expense: Fee and commission expense 22,716 (2,076) 20,640 Interest expense 20,799 (2,365) 18,434 Operating expense 50,496 (22,253) 28,243 Provision for impairment losses 45 (13) 32 Other expense, net (64) (30) (94) TOTAL EXPENSE 93,992 (26,737) 67,255 INCOME BEFORE INCOME TAX 51,692 5,069 56,761 Income tax expense (806) (962) (1,768) INCOME FROM CONTINUING OPERATIONS 50,886 4,107 54,993 Income/(loss) before income tax (expense)/benefit of discontinued operations — (5,067) (5,067) Income tax (expense)/benefit of discontinued operations — 962 962 Income/(loss) from discontinued operation — (4,105) (4,105) NET INCOME 50,886 2 50,888 Less: Net loss attributable to non-controlling interest in subsidiary (343) — (343) NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS $ 51,229 $ 2 $ 51,231 OTHER COMPREHENSIVE INCOME Reclassification adjustment for net realized gain on available-for-sale investments disposed of in the period, net of tax effect — — — Foreign currency translation adjustments, net of tax effect (7,336) 2,672 (4,664) OTHER COMPREHENSIVE INCOME/(LOSS) (7,336) 2,672 (4,664) COMPREHENSIVE INCOME BEFORE NON-CONTROLLING INTERESTS $ 43,550 $ 2,674 $ 46,224 Less: Comprehensive loss attributable to non-controlling interest in subsidiary (343) — (343) COMPREHENSIVE INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS $ 43,893 $ 2,674 $ 46,567 For the three months ended December 31, 2021, the Company’s EPS as reported was 0.86 for basic and diluted EPS. Due to the items noted above, the Company’s EPS has been recast to 0.93, (0.07), and 0.86 for basic and diluted EPS for continuing operations, discontinued operations, and total EPS, respectively. Three months ended December 31, 2020 As previously reported* Recast discontinued operations As recasted Revenue: Fee and commission income $ 72,484 $ (14,385) $ 58,099 Net gain on trading securities 18,944 (4,972) 13,972 Interest income 9,223 (3,999) 5,224 Net (loss)/gain on foreign exchange operations (1,413) 1,516 103 Net gain on derivative 995 (49) 946 TOTAL REVENUE, NET 100,233 (21,889) 78,344 Expense: Fee and commission expense 20,278 (1,983) 18,295 Interest expense 6,649 (3,426) 3,223 Operating expense 21,921 (11,583) 10,338 Provision for impairment losses 1,109 (157) 952 Other expense, net 244 (229) 15 TOTAL EXPENSE 50,201 (17,378) 32,823 INCOME BEFORE INCOME TAX 50,032 (4,511) 45,521 Income tax expense (7,711) 1,112 (6,599) INCOME FROM CONTINUING OPERATIONS 42,321 (3,399) 38,922 Income before income tax expense of discontinued operations — 4,511 4,511 Income tax expense of discontinued operations — (1,112) (1,112) Income from discontinued operations — 3,399 3,399 NET INCOME 42,321 — 42,321 Less: Net loss attributable to non-controlling interest in subsidiary (53) — (53) NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS $ 42,374 $ — $ 42,374 OTHER COMPREHENSIVE INCOME Reclassification adjustment for net realized gain on available-for-sale investments disposed of in the period, net of tax effect — — — Foreign currency translation adjustments, net of tax effect 6,851 — 6,851 OTHER COMPREHENSIVE INCOME 6,851 — 6,851 COMPREHENSIVE INCOME BEFORE NON-CONTROLLING INTERESTS $ 49,172 $ — $ 49,172 Less: Comprehensive loss attributable to non-controlling interest in subsidiary (53) — (53) COMPREHENSIVE INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS $ 49,225 $ — $ 49,225 For the three months ended December 31, 2020, the Company’s EPS as reported was 0.73 for basic and diluted EPS. Due to the items noted above, the Company’s EPS has been recast to 0.67, 0.06, and for basic and diluted EPS for continuing operations, discontinued operations, and 0.73, 0.72 for basic and diluted total EPS, respectively. Nine months ended December 31, 2021 As previously reported* Recast discontinued operations As recasted Revenue: Fee and commission income $ 327,966 $ (65,251) $ 262,715 Net gain on trading securities 185,554 9,716 195,270 Interest income 69,259 (9,920) 59,339 Net (loss)/gain on foreign exchange operations 885 2,888 3,773 Net loss on derivative (1,028) — (1,028) TOTAL REVENUE, NET 582,636 (62,567) 520,069 Expense: Fee and commission expense 67,547 (6,301) 61,246 Interest expense 51,256 (6,824) 44,432 Operating expense 117,384 (53,840) 63,544 Provision for impairment losses 704 (90) 614 Other expense, net 600 (120) 480 TOTAL EXPENSE 237,491 (67,175) 170,316 INCOME BEFORE INCOME TAX 345,145 4,608 349,753 Income tax expense (38,037) (943) (38,980) INCOME FROM CONTINUING OPERATIONS 307,108 3,665 310,773 Income/(loss) before income tax (expense)/benefit of discontinued operations — (4,609) (4,609) Income tax (expense)/benefit of discontinued operations — 953 953 Income/(loss) from discontinued operations — (3,656) (3,656) NET INCOME 307,108 9 307,117 Less: Net loss attributable to non-controlling interest in subsidiary (415) — (415) NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS $ 307,523 $ 9 $ 307,532 OTHER COMPREHENSIVE INCOME Reclassification adjustment for net realized gain on available-for-sale investments disposed of in the period, net of tax effect — — — Foreign currency translation adjustments, net of tax effect (3,106) 2,574 (532) OTHER COMPREHENSIVE INCOME/(LOSS) (3,106) 2,574 (532) COMPREHENSIVE INCOME BEFORE NON-CONTROLLING INTERESTS $ 304,002 $ 2,583 $ 306,585 Less: Comprehensive loss attributable to non-controlling interest in subsidiary (415) — (415) COMPREHENSIVE INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS 304,417 2,583 307,000 For the nine months ended December 31, 2021, the Company’s EPS as reported was 5.18 for basic and diluted EPS. Due to the items noted above, the Company’s EPS has been recast to 5.25, (0.06), and 5.18 for basic and diluted EPS for continuing operations, discontinued operations, and total EPS, respectively. Nine months ended December 31, 2020 As previously reported* Recast discontinued operations As recasted Revenue: Fee and commission income $ 169,590 $ (33,603) $ 135,987 Net gain on trading securities 36,330 (17,087) 19,243 Interest income 18,930 (7,168) 11,762 Net gain on foreign exchange operations 1,359 (1,217) 142 Net gain on derivative 149 (88) 61 TOTAL REVENUE, NET 226,358 (59,163) 167,195 Expense: Fee and commission expense 50,068 (4,297) 45,771 Interest expense 15,092 (6,290) 8,802 Operating expense 52,214 (29,978) 22,236 Provision for impairment losses 1,775 (202) 1,573 Other expense/(income), net 149 (206) (57) TOTAL EXPENSE 119,298 (40,973) 78,325 INCOME BEFORE INCOME TAX 107,060 (18,190) 88,870 Income tax expense (16,900) 5,202 (11,698) INCOME FROM CONTINUING OPERATIONS 90,160 (12,988) 77,172 Income before income tax expense of discontinued operations — 18,190 18,190 Income tax expense of discontinued operations — (5,202) (5,202) Income from discontinued operations — 12,988 12,988 NET INCOME 90,160 — 90,160 Less: Net income attributable to non-controlling interest in subsidiary 243 — 243 NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS $ 89,917 $ — $ 89,917 OTHER COMPREHENSIVE INCOME Reclassification adjustment for net realized gain on available-for-sale investments disposed of in the period, net of tax effect 71 — 71 Foreign currency translation adjustments, net of tax effect 4,565 — 4,565 OTHER COMPREHENSIVE INCOME 4,636 — 4,636 COMPREHENSIVE INCOME BEFORE NON-CONTROLLING INTERESTS $ 94,796 $ — $ 94,796 Less: Comprehensive income attributable to non-controlling interest in subsidiary 243 — 243 COMPREHENSIVE INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS $ 94,553 $ — $ 94,553 For the nine months ended December 31, 2020, the Company’s EPS as reported was 1.54 for both basic and diluted EPS. Due to the items noted above, the Company’s EPS has been recast to 1.32, 0.22, and 1.54 for both basic and diluted EPS for continuing operations, discontinued operations, and total EPS, respectively. *amounts with restatement in fee and commission income and interest income, for more information please see Note 4 Restatement.

RESTATEMENT

RESTATEMENT	3 Months Ended
	Dec. 31, 2021
Accounting Changes and Error Corrections [Abstract]
Restatement	RESTATEMENTIt was determined that there were errors in the Company's previously issued consolidated financial statements for the year ended March 31, 2022 related to the classification of loans issued, bank customer accounts and funds received under the Kazakhstan state program for financing of mortgage loans “7-20-25” within the Consolidated Statements of Cash Flows for the year ended March 31, 2022, Specifically, the Company identified that activities related to certain loans had been classified within "Cash flows from operating activities" and should have been classified within "Cash flows from investing activities", that activities related to bank customer accounts had been classified within "Cash flows from operating activities" and should have been classified within "Cash flows from financing activities", and that activities related to funds received under the Kazakhstan state program for financing of mortgage loans “7-20-25” had been classified within "Cash flows from operating activities" and should have been classified within "Cash flows from financing activities". The Company has evaluated the effect of the incorrect classifications and concluded that restatement was necessary. The Company determined that the restatement did not have any impact on the Company’s operating performance or any per-share amounts. The following tables summarize the impact of these corrections of errors for the nine months ended December 31, 2021, and 2020: For the nine months ended December 31, 2021 As previously reported Adjustments for discontinued operations As recasted Correction of errors As restated Net cash flows from operating activities $ (582,080) $ (34,465) $ (616,545) $ (21,090) $ (637,635) Net cash flows from investing activities (6,110) — (6,110) (34,709) (40,819) Net cash flows from financing activities 338,792 — 338,792 55,799 394,591 Effect of changes in foreign exchange rates on cash and cash equivalents 10,593 (1,998) 8,595 — 8,595 NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH $ (238,805) $ (36,463) $ (275,268) $ — $ (275,268) For the nine months ended December 31, 2020 As previously reported Adjustments for discontinued operations As recasted Correction of errors As restated Net cash flows from operating activities $ 698,954 $ 41,110 $ 740,064 $ (135,487) $ 604,577 Net cash flows from investing activities 98,418 739 99,157 122 99,279 Net cash flows from financing activities 61,952 (576) 61,376 135,365 196,741 Effect of changes in foreign exchange rates on cash and cash equivalents 3,787 — 3,787 — 3,787 NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH $ 863,111 $ 41,273 $ 904,384 $ — $ 904,384 In addition, it was determined that in the Company's previously issued condensed consolidated financial statements for the three and nine months ended December 31, 2021 and 2020, interest income from margin lending to clients had been erroneously classified within fee and commission income from brokerage services. Such income has been reclassified to interest income as a separate sub-line item within interest income entitled interest income from margin lending to clients. The following tables summarize the impact of corrections of the errors on the Condensed Consolidated Statements of Operations and Other Comprehensive Income for the periods presented: For the three months ended December 31, 2021 As previously reported Adjustments for discontinued operations As restated Correction of errors As restated Fee and commission income $ 122,237 $ (25,905) $ 96,332 $ (4,921) 91,411 Net gain on trading securities 403 6,611 7,014 — 7,014 Interest income 22,907 (3,029) 19,878 4,921 24,799 Net gain on foreign exchange operations 451 655 1,106 — 1,106 Net loss on derivative (314) — (314) — (314) TOTAL REVENUE, NET $ 145,684 $ (21,668) $ 124,016 $ — $ 124,016 For the three months ended December 31, 2020 As previously reported Adjustments for discontinued operations As restated Correction of errors As restated Fee and commission income $ 74,333 $ (14,385) $ 59,948 $ (1,849) 58,099 Net gain on trading securities 18,944 (4,972) 13,972 — 13,972 Interest income 7,374 (3,999) 3,375 1,849 5,224 Net gain on foreign exchange operations (1,413) 1,516 103 — 103 Net loss on derivative 995 (49) 946 — 946 TOTAL REVENUE, NET $ 100,233 $ (21,889) $ 78,344 $ — $ 78,344 For the nine months ended December 31, 2021 As previously reported Adjustments for discontinued operations As restated Correction of errors As restated Fee and commission income $ 336,178 $ (65,251) $ 270,927 $ (8,212) 262,715 Net gain on trading securities 185,554 9,716 195,270 — 195,270 Interest income 61,047 (9,920) 51,127 8,212 59,339 Net gain on foreign exchange operations 885 2,888 3,773 — 3,773 Net loss on derivative (1,028) — (1,028) — (1,028) TOTAL REVENUE, NET $ 582,636 $ (62,567) $ 520,069 $ — $ 520,069 For the nine months ended December 31, 2020 As previously reported Adjustments for discontinued operations As restated Correction of errors As restated Fee and commission income $ 171,949 $ (33,603) $ 138,346 $ (2,359) 135,987 Net gain on trading securities 36,330 (17,087) 19,243 — 19,243 Interest income 16,571 (7,168) 9,403 2,359 11,762 Net gain on foreign exchange operations 1,359 (1,217) 142 — 142 Net loss on derivative 149 (88) 61 — 61 TOTAL REVENUE, NET $ 226,358 $ (59,163) $ 167,195 $ — $ 167,195

CASH AND CASH EQUIVALENTS

CASH AND CASH EQUIVALENTS	3 Months Ended
	Dec. 31, 2021
Cash and Cash Equivalents [Abstract]
Cash and Cash Equivalents	CASH AND CASH EQUIVALENTS As of December 31, 2021, and March 31, 2021, cash and cash equivalents consisted of the following: December 31, 2021 March 31, 2021 (Recast) (Recast) Current account with National Bank (Kazakhstan) $ 55,816 $ 36,726 Current accounts with commercial banks 39,076 61,203 Current accounts with brokers 27,582 37,324 Securities purchased under reverse repurchase agreements 13,826 11,917 Petty cash in bank vault and on hand 7,051 14,916 Accounts with stock exchanges 2,254 5,873 Current account with Central Depository (Kazakhstan) 753 58 Total cash and cash equivalents $ 146,358 $ 168,017 As of December 31, 2021, and March 31, 2021, with the exception of funds deposited with banks in the United States which may qualify for FDIC insurance up to $250,000, cash and cash equivalents were not insured. As of December 31, 2021, and March 31, 2021, the cash and cash equivalents balance included collateralized securities received under reverse repurchase agreements on the terms presented below: December 31, 2021 (Recast) Interest rates and remaining contractual maturity of the agreements Average interest rate Up to 30 days 30-90 days Total Securities purchased under reverse repurchase agreements US sovereign debt 0.35 % $ 7,773 $ — $ 7,773 Non-US sovereign debt 0.51 % 5,811 — 5,811 Corporate equity 14.62 % 242 — 242 Corporate debt — % — — — Total securities sold under repurchase agreements $ 13,826 $ — $ 13,826 March 31, 2021 (Recast) Interest rates and remaining contractual maturity of the agreements Average interest rate Up to 30 days 30-90 days Total Securities purchased under reverse repurchase agreements Corporate debt 10.15 % $ 8,460 $ — $ 8,460 US sovereign debt 0.88 % 1,785 — 1,785 Corporate equity 0.50 % 1,562 — 1,562 Non-US sovereign debt 13.09 % 110 — 110 Total securities sold under repurchase agreements $ 11,917 $ — $ 11,917 The securities received by the Company as collateral under reverse repurchase agreements are liquid trading securities with market quotes and significant trading volume. The fair value of collateral received by the Company under reverse repurchase agreements as of December 31, 2021, and March 31, 2021, was $333,803 and $12,123, respectively.

RESTRICTED CASH

RESTRICTED CASH	3 Months Ended
	Dec. 31, 2021
Restricted Cash [Abstract]
Restricted Cash	RESTRICTED CASH Restricted cash for the periods ended December 31, 2021, and March 31, 2021, consisted of: December 31, 2021 March 31, 2021 (Recast) (Recast) Brokerage customers’ cash $ 408,175 $ 482,135 Deferred distribution payments 8,534 8,535 Guaranty deposits 34 21 Total restricted cash $ 416,743 $ 490,691 As of December 31, 2021, and March 31, 2021, the Company’s restricted cash included the cash portion of the funds segregated in a special custody account for the exclusive benefit of its brokerage customers. Restricted cash also included a deferred distribution payment amount, which is a reserve held for distribution to shareholders who have not yet claimed their distributions from the 2011 sale of the Company’s oil and gas exploration and production operations of $8,534. This distribution is currently payable, subject to the entitled shareholders completing and submitting to the Company the necessary documentation to claim his, her or its distribution payments. The Company has no control over when, or if, an entitled shareholder will submit the necessary documentation to claim their distribution payment. The entire deferred distribution payment amount was held in cash at December 31, 2021, and March 31, 2021. A Company shareholder entitled to a portion of the distribution amount died before claiming the distribution. As a result of disputes between the individual’s putative heirs and potential owners of an entity that also claimed through the shareholder, the Company has been unable to determine who is legally entitled to receive the distribution payment. During the quarter ended December 31, 2021, the putative estate asserted claims in Utah state court seeking, among other things, payment of the distribution. The Company and the putative estate have agreed to attempt to mediate the dispute. For additional information regarding this matter see Part II, Item 1 Legal Proceedings of this quarterly report on Form 10-Q/A.

TRADING AND AVAILABLE-FOR-SALE

TRADING AND AVAILABLE-FOR-SALE SECURITIES AT FAIR VALUE	3 Months Ended
	Dec. 31, 2021
Debt Securities, Trading, and Equity Securities, FV-NI [Abstract]
Trading and Available-for-Sale Securities at Fair Value	TRADING AND AVAILABLE-FOR-SALE SECURITIES AT FAIR VALUE As of December 31, 2021, and March 31, 2021, trading and available-for-sale securities consisted of: December 31, 2021 March 31, 2021 (Recast) (Recast) Corporate debt $ 513,671 $ 301,898 Non-US sovereign debt 395,667 239,630 Corporate equity 22,149 39,280 Exchange traded notes 9,386 2,077 US sovereign debt 6,960 4,661 Total trading securities $ 947,833 $ 587,546 Equity securities $ 1 $ 1 Total available-for-sale securities, at fair value $ 1 $ 1 As of December 31, 2021, the Company held debt securities of two issuers which individually exceeded 10% of the Company’s total trading securities - the Kazakhstan Sustainability Fund JSC (BBB credit rating) in the amount of $279,636 and the Ministry of Finance of the Republic of Kazakhstan (BBB- credit rating) in the amount of $372,100. As of March 31, 2021, the Company held debt securities of two issuers which individually exceeded 10% of the Company’s total trading securities - the Ministry of Finance of the Republic of Kazakhstan and the Kazakhstan Sustainability Fund JSC in the amounts of $232,958 and $232,601, respectively. The Company recognized no other-than-temporary impairment in accumulated other comprehensive income. The fair value of assets and liabilities is determined using observable market data based on recent trading activity. Where observable market data is unavailable due to a lack of trading activity, the Company utilizes internally developed models to estimate fair value and independent third parties to validate assumptions, when appropriate. Estimating fair value requires significant management judgment, including benchmarking to similar instruments with observable market data and applying appropriate discounts that reflect differences between the securities that the Company is valuing and the selected benchmark. Depending on the type of securities owned by the Company, other valuation methodologies may be required. Measurement of fair value is classified within a hierarchy based upon the transparency of inputs used in the valuation of an asset or liability. Classification within the hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The valuation hierarchy contains three levels: • Level 1 - Valuation inputs are unadjusted quoted market prices for identical assets or liabilities in active markets. • Level 2 - Valuation inputs are quoted market prices for identical assets or liabilities in markets that are not active, quoted market prices for similar assets and liabilities in active markets, and other observable inputs directly or indirectly related to the asset or liability being measured. • Level 3 - Valuation inputs are unobservable and significant to the fair value measurement. The following tables present securities assets in the Condensed Consolidated Financial Statements or disclosed in the Notes to the Condensed Consolidated Financial Statements at fair value on a recurring basis as of December 31, 2021, and March 31, 2021: Weighted Average Total Fair Value Measurements at December 31, 2021 using (Recast) Quoted Prices in Significant Significant Unobservable (Level 1) (Level 2) (Level 3) Corporate debt 8.80 % $ 513,671 $ 512,887 $ 415 $ 369 Non-U.S. sovereign debt 9.35 % 395,667 393,124 1,593 950 Corporate equity — 22,149 21,151 553 445 Exchange traded notes — 9,386 9,386 — — U.S. sovereign debt 2 % 6,960 6,960 — — Total trading securities $ 947,833 $ 943,508 $ 2,561 $ 1,764 Equity securities — $ 1 $ — $ — $ 1 Total available-for-sale securities, at fair value $ 1 $ — $ — $ 1 Weighted Average Interest Rate Total Fair Value Measurements at March 31, 2021 using (Recast) Quoted Prices in Significant Significant Unobservable (Level 1) (Level 2) (Level 3) Non-U.S. sovereign debt 8.06 % $ 239,630 $ 239,630 $ — $ — Exchange traded notes — 2,077 2,077 — — Corporate debt 9.22 % 301,898 301,538 — 360 Corporate equity — 39,280 20,607 — 18,673 U.S. sovereign debt 1.68 % 4,661 4,661 — — Total trading securities $ 587,546 $ 568,513 $ — $ 19,033 Equity securities — $ 1 $ — $ — $ 1 Total available-for-sale securities, at fair value $ 1 $ — $ — $ 1 The table below presents the valuation techniques and significant level 3 inputs used in the valuation as of December 31, 2021, and March 31, 2021. The table is not intended to be all inclusive, but instead captures the significant unobservable inputs relevant to determination of fair value. Type Valuation Technique FV as of December 31, 2021 FV as of March 31, 2021 Significant Unobservable Inputs % (Recast) (Recast) Non-US sovereign debt DCF $ 949 $ — Discount rate 13.8% Estimated number of years 1 year Corporate equity DCF $ 446 $ 302 Discount rate 18.5% Estimated number of years 9 years Corporate debt DCF $ 369 $ 360 Discount rate 16.5% Estimated number of years 9 years Corporate equity DCF $ — $ 18,371 Discount rate 10.6% Estimated number of years 9 years Total $ 1,764 $ 19,033 As of December 31, 2021, shares of SPBX held by the Company were transferred from level 3 to level 1, due to active trades on the market. During the nine months ended December 31, 2021, market trades of SPBX shares were executed in the market, and market data for these shares became available. The following table provides a reconciliation of the beginning and ending balances for investments that use Level 3 inputs for the nine months ended December 31, 2021, and the year ended March 31, 2021: Trading Available-for-sale securities Balance as of March 31, 2021 (Recast) $ 19,033 $ 1 Reclassification to level 1 (18,408) — Redemption of securities that use Level 3 inputs (1,030) — Purchase of investments that use Level 3 inputs 2,059 — Revaluation of investments that use Level 3 inputs 110 — Balance as of December 31, 2021 (Recast) 1,764 1 Balance as of March 31, 2020 (Recast) $ 11,259 $ 1 Sale of investments that use Level 3 inputs (2) — Purchase of investments that use Level 3 inputs 739 — Revaluation of investments that use Level 3 inputs 7,037 — Balance as of March 31, 2021 (Recast) $ 19,033 $ 1 The table below presents the amortized cost, unrealized gains and losses accumulated in other comprehensive income, and fair value of available-for-sale securities as of December 31, 2021, and March 31, 2021: December 31, 2021 (Recast) Assets measured at amortized Unrealized loss accumulated in Assets Equity securities $ 1 $ — $ 1 Balance as of December 31, 2021 $ 1 $ — $ 1 March 31, 2021 (Recast) Assets measured Unrealized loss accumulated in Assets Equity securities $ 1 $ — $ 1 Balance as of March 31, 2021 $ 1 $ — $ 1

BROKERAGE AND OTHER RECEIVABLES

BROKERAGE AND OTHER RECEIVABLES, NET	3 Months Ended
	Dec. 31, 2021
Receivables [Abstract]
Brokerage and Other Receivables, Net	BROKERAGE AND OTHER RECEIVABLES, NET Brokerage and other receivables as of December 31, 2021, and March 31, 2021, consisted of: December 31, 2021 March 31, 2021 (Recast) (Recast) Margin lending receivables $ 186,373 $ 43,138 Receivables from brokerage clients 3,637 3,896 Long-term installments receivables 1,208 1,280 Receivable from sale of securities 1,050 484 Receivable for underwriting and market-making services 812 564 Bank commissions receivable 337 697 Dividends accrued 120 1,392 Bonds coupon receivable — — Other receivables 2,380 48 Allowance for receivables (1,759) (1,981) Total brokerage and other receivables, net $ 194,158 $ 49,518 As of December 31, 2021 , and March 31, 2021 , amounts due from a single related party customer were $125,799 a $9,866, respectively or 65% and 20% respectively, of total margin lending, brokerage and other receivables, net. Approximately 59% and 83% of these balances were due from Freedom Securities Trading Inc. (formerly known as FFIN Brokerage Services, Inc.) (“FFIN Brokerage”), a company owned by the Company's controlling shareholder, chairman and chief executive officer, Timur Turlov. Based on historical data, the Company considers receivables due from related parties fully collectible. As of December 31, 2021, and March 31, 2021, using historical and statistical data, the Comp any recorded an allowance for brokerage receivables in the amounts of $1,759 and $1,981 , respectively.

LOANS ISSUED

LOANS ISSUED	3 Months Ended
	Dec. 31, 2021
Loans and Leases Receivable Disclosure [Abstract]
Loans Issued	LOANS ISSUED Loans issued as of December 31, 2021, consisted of the following: Amount Outstanding Due Dates Average Interest Rate Fair Value of Collateral Loan Currency Mortgage loan $ 19,874 February 2023 - September 2036 15.19 % $ 19,846 KZT Uncollateralized bank customer loans 16,075 January 2022 - December 2036 18.22 % — KZT Subordinated loan 5,132 December 2022-April 2024 4.89 % — USD Subordinated loan 1,358 September 2029 7.00 % — UAH $ 42,439 During the nine months ended December 31, 2021, the Company entered into agreements with a related party microfinance organization to purchase uncollateralized consumer retail loans. The agreements provide the Company the ability to sell back to the microfinance organization up to $9,263 of the total loans purchased. The Company has determined that it has assumed substantially all of the risks and rewards from the transferor of the loans, with the exception of the amount it has the right to sell back to the transferor, accordingly the Company has received control of the loans and has recognized the loans on its Condensed Consolidated Balance Sheets. During the nine months ended December 31, 2021, the Company purchased loans in the aggregate amount of $29,020 and sold back loans totaling $6,828 to the microfinance organization. As of December 31, 2021, the Company held outstanding loans purchased from the microfinance organization totaling $16,802, net of an allowance of $727. Loans issued as of March 31, 2021, consisted of the following: Amount Outstanding Due Dates Average Interest Rate Fair Value of Collateral Loan Currency Subordinated loan $ 5,033 December 2022-April 2024 3.69 % $ — USD Uncollateralized non-bank loan 2,382 January 2022 – February 2022 3.00 % — USD Subordinated loan 1,331 September 2029 7.00 % — UAH Bank customer loans 880 March 2024 15.41 % 729 KZT $ 9,626

DEFERRED TAX LIABILITIES

DEFERRED TAX LIABILITIES	3 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Deferred Tax Liabilities	DEFERRED TAX LIABILITIES The Company is subject to taxation in the Russian Federation, Kazakhstan, Kyrgyzstan, Cyprus, Ukraine, Uzbekistan, Germany, Azerbaijan United Kingdom, Armenia and the United States of America. The tax rates used for deferred tax assets and liabilities as of December 31, 2021, and March 31, 2021, were 21% for the U.S., 20% for the Russian Federation, Kazakhstan, and Kyrgyzstan, 31% for Germany, 12.5% for Cyprus, 18% for Ukraine, 2% for Azerbaijan, 25% for United Kingdom, 18% for Armenia and 15% for Uzbekistan. This note is presented excluding the discontinued operations, which is presented separately in Note 26 "Assets and Liabilities Held for Sale". Deferred tax assets and liabilities of the Company are comprised of the following: December 31, 2021 March 31, 2021 (Recast) (Recast) Deferred tax assets: Tax losses carryforward $ 305 $ 316 Accrued liabilities 97 109 Depreciation 16 16 Revaluation on trading securities — — Valuation allowance (305) (316) Deferred tax assets $ 113 $ 125 Deferred tax liabilities: Revaluation on trading securities $ 978 $ 2,041 Fixed and intangible assets 621 1,568 Subordinated debt — 523 Deferred tax liabilities $ 1,599 $ 4,132 Net deferred tax liabilities $ (1,486) $ (4,007) During the nine months ended December 31, 2021, and 2020, the effective tax rate was equal to 11.1% and 13.2%, respectively.

SECURITIES REPURCHASE AGREEMENT

SECURITIES REPURCHASE AGREEMENT OBLIGATIONS	3 Months Ended
	Dec. 31, 2021
Securities Sold under Agreements to Repurchase [Abstract]
Securities Repurchase Agreement Obligations	SECURITIES REPURCHASE AGREEMENT OBLIGATIONS As of December 31, 2021, and March 31, 2021, trading securities included collateralized securities subject to repurchase agreements as described in the following table: December 31, 2021 (Recast) Interest rates and remaining contractual maturity of the agreements Average interest rate Up to 30 days 30-90 days Total Securities sold under repurchase agreements Corporate debt 10.30 % $ 314,217 $ — $ 314,217 Non-U.S. sovereign debt 10.51 % 308,878 — 308,878 US sovereign debt 0.36 % 4,398 — 4,398 Corporate equity — % — — — Total $ 627,493 $ — $ 627,493 March 31, 2021 (Recast) Interest rate and remaining contractual maturity of the agreements Average interest rate Up to 30 days 30-90 days Total Securities sold under repurchase agreements Non-US sovereign debt 9.28 % $ 229,122 $ — $ 229,122 Corporate debt 9.27 % 138,029 — 138,029 Corporate equity 3.78 % 5,757 — 5,757 US sovereign debt 0.40 % 1,810 — 1,810 Total securities sold under repurchase agreements $ 374,718 $ — $ 374,718 The fair value of collateral pledged under repurchase agreements as of December 31, 2021, and March 31, 2021, was $711,850 and $374,610, respectively. Securities pledged as collateral by the Company under repurchase agreements are liquid trading securities with market quotes and significant trading volume.

CUSTOMER LIABILITIES

CUSTOMER LIABILITIES	3 Months Ended
	Dec. 31, 2021
Contract with Customer, Liability [Abstract]
Customer Liabilities	CUSTOMER LIABILITIES The Company recognizes customer liabilities associated with funds held by our brokerage and bank customers. Customer liabilities consist of: December 31, 2021 March 31, 2021 (Recast) (Recast) Brokerage customers $ 360,652 $ 547,349 Banking customers 192,363 124,476 Total $ 553,015 $ 671,825

TRADE PAYABLES

TRADE PAYABLES	3 Months Ended
	Dec. 31, 2021
Accounts Payable [Abstract]
Trade Payables	TRADE PAYABLES Trade payables of the Company is comprised of the following: December 31, 2021 March 31, 2021 (Recast) (Recast) Margin lending payable $ 45,990 $ 20,120 Payables to suppliers of goods and services 3,666 1,383 Trade payable for securities purchased 516 292 Other 203 207 Total $ 50,375 $ 22,002 On December 31, 2021, and March 31, 2021, trade payables due to a single related party were $41,801 or 83% and $13,810 or 62%, respectively.

SECURITIES SOLD, NOT YET PURCHA

SECURITIES SOLD, NOT YET PURCHASED - AT FAIR VALUE	3 Months Ended
	Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Securities Sold Not Yet Purchased - at Fair Value	SECURITIES SOLD, NOT YET PURCHASED – AT FAIR VALUE As of December 31, 2021, and March 31, 2021, the Company’s securities sold, not yet purchased at fair value was $15,167 and $8,569, respectively. During the nine months ended December 31, 2021, the Company sold shares that were not owned by it in the amount of $6,285 and closed short positions in the amount of $23. During the nine months ended December 31, 2021, the Company recognized a loss on the change in the fair value of financial liabilities in the amount of $313 in the Condensed Consolidated Statements of Operations and Statements of Other Comprehensive Income. A short sale involves the sale of a security that is not owned with the expectation of purchasing the same security (or a security exchangeable) at a later date at a lower price. A short sale involves the risk of a theoretically unlimited increase in the market price of the security that would result in a theoretically unlimited loss.

LOANS RECEIVED

LOANS RECEIVED	3 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
Loans Received	LOANS RECEIVED Loans received by the Company includes: Company Lender December 31, 2021 March 31, 2021 Interest Rate Term Maturity dates (Recast) (Recast) Freedom Holding Corp. Non-Bank $ 3,497 $ 3,373 5.00 % 26 months 12/31/22 Total $ 3,497 $ 3,373 As of December 31, 2021, non-bank loans received were unsecured. As of December 31, 2021, and March 31, 2021, accrued interest on the loans totaled $197 and $73, respectively.

DEBT SECURITIES ISSUED

DEBT SECURITIES ISSUED	9 Months Ended
	Dec. 31, 2021
Debt Securities [Abstract]
Debt Securities Issued	DEBT SECURITIES ISSUED Outstanding debt securities of the Company include the following: December 31, 2021 March 31, 2021 (Recast) (Recast) Debt securities issued denominated in USD $ 33,498 $ 30,700 Accrued interest 149 649 Total $ 33,647 $ 31,349 As of December 31, 2021, and March 31, 2021, the Company's debt securities include $20,498 of FRHC notes issued from December 2019 to February 2020. The FRHC notes denominated in U.S. dollars, bear interest at an annual rate of 7.00% and are due in December 2022. The FRHC notes were issued under Astana International Financial Centre law and trade on the AIX. The Company’s debt securities also include $13,000 of Freedom SPC bonds issued in October 2021. The Freedom SPC bonds are denominated in U.S. dollars, bear interest at an annual rate of 5.50% and are due in October 2026. The Freedom SPC bonds were issued under Astana International Financial Centre law and trade on the AIX. FRHC is a guarantor of the Freedom SPC bonds. The proceeds from Freedom SPC bonds were loaned to FRHC pursuant to a loan agreement dated November 22, 2021. The interest rate of the loan agreement is 5.5% per annum. Interest payments are duly semi-annually in April and October. Repayment of the loan is due October 2026. On May 29, 2021 the Company retired U.S. dollar denominated 8% Freedom KZ bonds that had a carrying value of $10,477 including interest accrued of $274 as of March 31, 2021 Debt securities issued are initially recognized at the fair value of the consideration received, less directly attributable transaction costs.

NET GAIN ON TRADING SECURITIES

NET GAIN ON TRADING SECURITIES	3 Months Ended
	Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Net Gain on Trading Securities	NET GAIN ON TRADING SECURITIES Net gain on trading securities is comprised of: Three Months Ended Three Months Ended (Recast) (Recast) Net gain recognized during the period on trading securities sold during the period $ 41,386 $ 6,571 Net unrealized (loss)/gain recognized during the reporting period on trading securities still held at the reporting date (34,372) 7,401 Net gain recognized during the period on trading securities $ 7,014 $ 13,972 Nine Months Ended Nine Months Ended (Recast) (Recast) Net gain recognized during the period on trading securities sold during the period $ 189,783 $ 13,563 Net unrealized (loss)/gain recognized during the reporting period on trading securities still held at the reporting date 5,487 5,680 Net gain recognized during the period on trading securities $ 195,270 $ 19,243 As of December 31, 2021, and March 31, 2021, the Company held in its proprietary trading portfolio shares SPBX at fair value of $7,182 and $18,371, respectively. During the three months ended December 31, 2021, the Company exchanged approximately 1,000,000 shares of its stock of SPBX for units in the closed-end unit investment combined fund “SPB fund” (the “SPBX ETF”) and sold those SPBX ETF units to approximately 490 investors through placement agents for net proceeds of $11,338. Additionally, during the three months ended December 31, 2021, the Company sold approximately 2,423,000 shares of SPBX to the market for net proceeds of $32,858. As a result, during the three months ended December 31, 2021, the Company recognized net gain on trading securities sold of $39,658, which included $36,079 of unrealized net gain recognized during previous periods that was reclassified to realized gain during the three months ended December 31, 2021. During the nine months ended December 31, 2021, the Company exchanged approximately 12,500,000 shares of its stock of SPBX for units in the SPBX ETF. During the nine months ended December 31, 2021, the Company sold its SPBX ETF units to approximately 15,490 investors through placement agents for net proceeds of $167,011. Additionally, during the three months ended December 31, 2021, the Company sold approximately 2,423,000 shares of SPBX to the market for net proceeds of $32,858. As a result, during the nine months ended December 31, 2021, the Company recognized net gain on trading securities sold of $189,783, which included $177,146 of realized gain from the sale of the SPBX ETF and SPBX shares .

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	3 Months Ended
	Dec. 31, 2021
Related Party Transactions [Abstract]
Related Party Transactions	RELATED PARTY TRANSACTIONS During the three months ended December 31, 2021, and 2020, the Company earned commission income from related p arties in the amounts of $76,655 and $51,436, respectively. During the nine months ended December 31, 2021, and 2020, the Company earned commission income from related parties in the amounts of $220,563 and $116,771, respectively. Commission income earned from related parties is comprised primarily of brokerage commissions and commissions for money transfers by brokerage clients. During the three months ended December 31, 2021, and 2020, the Company paid commission expense to related parties in the amount of $3,805 and $6,139, respectively. During the nine months ended December 31, 2021, and 2020, the Company paid commission expense to related parties in the amount of $14,297 and $19,302, respectively. Interest income earned from related parties is comprised entirely of interest income from FFIN Brokerage, principally interest income from margin lending. During the three months ended December 31, 2021 and 2020, the Company earned interest income from related parties in the amounts of $3,813 and $1,677, respectively. Interest income generated from FFIN Brokerage accounted for approximately 100% of the Company's total related party interest income for each of the three months ended December 31, 2021, and 2020. During the nine months ended December 31, 2021 and 2020, the Company earned interest income from related parties in the amounts of $5,076 and $2,062, respectively. Interest income generated from FFIN Brokerage accounted for approximately 100% of the Company's total related party interest income for each of the nine months ended December 31, 2021, and 2020. During the three months ended December 31, 2021, and 2020, the Company recorded stock-based compensation expense for restricted stock grants to related parties in the amount of $385 and $0, respectively. During the nine months ended December 31, 2021, and 2020, the Company recorded stock-based compensation expense for restricted stock grants to related parties in the amount of 951 and $0, respectively . As of December 31, 2021, and March 31, 2021, the Company had cash and cash equivalents held in brokerage accounts of related parties totaling $22,822 and $12,237, respectively. As of December 31, 2021, and March 31, 2021, the Company had bank commission receivables and receivables from brokerage clients from related parties totaling $361 and $960, respectively. Brokerage and other receivables from related parties result principally from commissions receivable on the brokerage operations of related parties. As of December 31, 2021, and March 31, 2021, the Company had margin lending receivables with related parties totaling $125,799 and $9,866, respectively. As of December 31, 2021, and March 31, 2021, the Company had margin lending payables to related parties, totaling $41,801 and $13,810, respectively. As of December 31, 2021, and March 31, 2021, the Company had accounts payable due to a related party totaling $438 and $299, respectively. As of December 31, 2021, and March 31, 2021, the Company had financial liability with related parties totaling $1,712 and $1,707, respectively. As of December 31, 2021, and March 31, 2021, the Company had customer liabilities to related parties totaling $181,260 and $235,460 respectively. As of December 31, 2021, and March 31, 2021, the Company had restricted customer cash deposited in current and brokerage accounts with related parties in the amounts of $195,824 and $156,878. During the nine months ended December 31, 2021, the Company purchased loans in the aggregate amount of $29,020 and sold back loans totaling $6,828 to a related party microfinance organization. As of December 31, 2021, the Company held outstanding loans purchased from the microfinance organization totaling $16,802, net of an allowance of $727. In July 2021, to comply with certain foreign ownership restrictions relating to registered Ukrainian broker-dealers, the Company sold 23.88% of the outstanding equity interest of Freedom UA to Askar Tashtitov, the Company’s president, for $416. For additional information regarding this transaction, see Note 1 – Description of Business. Brokerage and related banking services, including margin lending, were provided to related parties pursuant to standard client account agreements and at standard market rates.

ASSETS AND LIABILITIES HELD FOR

ASSETS AND LIABILITIES HELD FOR SALE	3 Months Ended
	Dec. 31, 2021
Discontinued Operations and Disposal Groups [Abstract]
ASSETS AND LIABILITIES HELD FOR SALE	ASSETS AND LIABILITIES HELD FOR SALE In the Company's Annual Report on Form 10-K for the fiscal year ended March 31, 2022, the Company announced its plans to divest its interests in its Russian securities brokerage and complementary banking operations in Russia ("Russian segment"). On October 17, 2022, the Company entered into an agreement with Maxim Povalishin for the sale of 100% of the share capital of its Russian segment. Maxim Povalishin, the purchaser, is currently the Deputy General Director and a member of the Board of Directors of Freedom RU. The transaction is subject to the approval of the Central Bank of the Russian Federation and is expected to be completed within the thee months ended December 31, 2022. The Company has classified the Russia segment as discontinued operations as of December 31, 2021 and for the three and nine months ended December 31, 2021, because the subsidiaries to be disposed of in this transaction met the held for sale criteria. In accordance with US GAAP, the Company has reported separately the discontinued operations in the condensed consolidated financial statements. As of December 31, 2021, and March 31, 2021, the major classes of assets and liabilities from discontinued operations included the following: December 31, 2021 March 31, 2021 Cash and cash equivalents $ 346,996 $ 531,791 Restricted cash 32,728 27,594 Trading securities 400,823 148,642 Brokerage and other receivables, net 108,245 15,575 Loans issued 2,557 2,041 Other assets 28,243 22,405 Total assets held for sale $ 919,592 $ 748,048 Customer liabilities $ 636,898 $ 573,181 Debt securities issued 71,716 37,095 Securities repurchase agreement obligations 82,791 51,997 Other liabilities 18,322 14,295 Total liabilities held for sale $ 809,727 $ 676,568 The results of operations for discontinued operations for the three and nine months ended December 31, 2021 and 2020, consist of the following: Three months ended December 31, Nine Months Ended 2021 2020 2021 2020 Fee and commission income $ 23,147 $ 13,571 $ 59,596 $ 30,810 Net (loss)/gain on trading securities (6,611) 4,972 (9,716) 17,087 Interest income 5,786 4,813 15,574 9,961 Net gain/(loss) on foreign exchange operations (655) (1,516) (2,889) 1,217 Net gain/(loss) on derivative — 49 — 88 Total revenue 21,667 21,889 62,565 59,163 Fee and commission expense 2,075 1,983 6,300 4,298 Interest expense 2,365 3,426 6,824 6,289 Operating expense 22,253 11,583 53,841 29,979 Provision for impairment losses 13 156 89 200 Other (income)/expense, net 28 230 120 207 Total expense 26,734 17,378 67,174 40,973 Profit before income tax $ (5,067) $ 4,511 $ (4,609) $ 18,190 The net cash flows from/(used in) operating and investing activities from discontinued operations for the nine months ended December 31, 2021 and 2020, consist of the following: Nine Months Ended 2021 2020 Cash Flows (Used In)/From Operating Activities Net income from discontinued operations $ (3,656) $ 12,988 Adjustments to reconcile net income from operating activities: Depreciation and amortization 1,637 439 Noncash lease expense 3,785 2,847 Impairment of Freedom Bank RU goodwill — — Impairment of Zerich goodwill — — Loss on sale of fixed assets — — Client base write-off — — Change in deferred taxes (1,892) 1,406 Stock compensation expense 5,647 1,033 Unrealized (gain)/loss on trading securities 9,082 (1,988) Net change in accrued interest 1,436 567 Allowances/(recovery) for receivables 89 203 Changes in operating assets and liabilities: Trading securities (262,438) (81,345) Brokerage and other receivables (93,717) 5,444 Other assets (1,948) (1,792) Securities sold, not yet purchased – at fair value (24) — Customer liabilities 121,173 217,034 Current income tax liability (623) 990 Trade payables 319 219 Lease liabilities (3,947) (2,988) Other liabilities 2,176 1,426 Net cash flows (used in)/from operating activities from discontinued operations (222,901) 156,483 Cash Flows (Used In)/From Investing Activities Purchase of fixed assets (2,918) (985) Proceeds from sale of fixed assets 699 — Purchase of intangible assets — — Loans issued (571) (117) Net cash flows (used in)/from investing activities from discontinued operations $ (2,790) $ (1,102)

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	9 Months Ended
	Dec. 31, 2021
Equity [Abstract]
Stockholder's Equity	STOCKHOLDERS’ EQUITY During the nine months ended December 31, 2021, non-qualified stock options to purchase 60,000 shares were exercised at a strike price of $1.98 per share for total proceeds of $119 . During the nine months ended December 31, 2020, no outstanding non-qualified stock options were exercised. On May 18, 2021, the Company awarded restricted stock grants totaling 1,031,500 shares of its common stock to 56 employees and consultants of the Company, including two executive officers of the Company. Of the 1,031,500 shares awarded pursuant to the restricted stock grant awards, 200,942 shares are subject to one-year vesting, 211,658 shares are subject to two-year vesting and 206,300 shares per year are subject to three four On December 30, 2020, the Company awarded restricted stock grants in the amount of 15,000 shares of its common stock to three employees. Of the 15,000 shares awarded pursuant to the restricted stock grant awards, 4,500 shares are subject to one-year vesting conditions, 4,500 shares are subject to two-year vesting conditions and 6,000 shares are subject to three-year vesting conditions. The Company recorded stock-based compensation expense for restricted stock grants and stock options in the amount of $4,561 and $11,283 during the three and nine months ended December 31, 2021, respectively. During the three and nine months ended December 31, 2020, the Company recorded stock-based compensation expense for restricted stock grants and stock options in the amount of $35 and $1,090, respectively.

STOCK BASED COMPENSATION

STOCK BASED COMPENSATION	3 Months Ended
	Dec. 31, 2021
Share-based Payment Arrangement, Noncash Expense [Abstract]
Stock Based Compensation	STOCK BASED COMPENSATION During the nine months ended December 31, 2021, a total of 1,031,500 restricted shares were awarded to key employees. The compensation expense related to restricted stock grants was $4,561 during the three months ended December 31, 2021, and $31 during three months ended December 31, 2020. The compensation expense related to restricted stock grants was $11,283 during the nine months ended December 31, 2021, and $978 during the nine months ended December 31, 2020. As of December 31, 2021, there was $28,899 of total unrecognized compensation cost related to non-vested shares of common stock granted . The cost is expected to be recognized over a weighted average period of 4.36 years. The Company has determined the fair value of restricted shares awarded during the nine months ended December 31, 2021 using the Monte Carlo valuation model based on the following key assumptions: Term (years) 5 Volatility 41.5 % Risk-free rate 0.06 % The table below summarizes the activity for the Company’s restricted stock outstanding during the nine months ended December 31, 2021: Shares Weighted Outstanding, at March 31, 2021 15,000 $ 775 Granted 1,031,500 39,465 Vested — — Forfeited/cancelled/expired — — Outstanding, at December 31, 2021 1,046,500 $ 40,240 During the nine months ended December 31, 2021 and 2020, no stock options were awarded. Total compensation expense related to outstanding options was $0 for the three and nine months ended December 31, 2021, and $54 and $162, for the three and nine months ended December 31, 2020, respectively. During the nine months ended December 31, 2021, options to purchase a total of 60,000 shares were exercised. The Company has determined the fair value of such stock options using the Black-Scholes option valuation model based on the following key assumptions: Term (years) 3 Volatility 165.33 % Risk-free rate 1.66 % Stock-based compensation expense for the cost of the awards granted is based on the grant-date fair value. For stock option awards, the fair value is estimated at the date of grant using the Black-Scholes option-pricing model. This model requires the input of highly subjective assumptions, changes to which can materially affect the fair value estimate. Additionally, there may be other factors that would otherwise have a significant effect on the value of employee stock options granted but are not considered by the model. Accordingly, while management believes that the Black-Scholes option-pricing model provides a reasonable estimate of fair value, the model does not necessarily provide the best single measure of fair value for the Company’s employee stock options. The following is a summary of stock option activity for the nine months ended December 31, 2021: Shares Weighted Average Exercise Price Weighted Aggregate Outstanding, March 31, 2021 60,000 $ 1.98 6.52 $ 3,083,000 Granted — — — — Exercised (60,000) 1.98 6.52 3,742,000 Forfeited/cancelled/expired — — — — Outstanding, at December 31, 2021 — $ — 0 $ — Exercisable, at December 31, 2021 — $ — 0 $ —

LEASES

LEASES	3 Months Ended
	Dec. 31, 2021
Leases [Abstract]
Leases	LEASES The Company determines whether a contract contains a lease at inception of the contract and whether that lease meets the classification criteria of a finance or operating lease. When available, the Company uses the rate implicit in the lease to discount lease payments to present value; however, most of the Company’s leases do not provide a readily determinable implicit rate. Therefore, the Company must discount lease payments based on an estimate of its incremental borrowing rate. The table below presents the lease related assets and liabilities recorded on the Company’s consolidated balance sheets as of December 31, 2021: Classification on Balance Sheet December 31, 2021 Assets Operating lease assets Right-of-use assets $ 6,926 Total lease assets $ 6,926 Liabilities Operating lease liability Operating lease obligations $ 7,031 Total lease liability $ 7,031 Lease obligations at December 31, 2021, consisted of the following: Twelve months ending March 31, 2022 $ 990 2023 3,578 2024 1,430 2025 1,070 2026 1,006 Thereafter 182 Total payments 8,256 Less: amounts representing interest (1,225) Lease liability, net $ 7,031 Weighted average remaining lease term (in months) 22 Weighted average discount rate 12 %

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES Freedom Bank KZ is a party to certain off-balance sheet financial instruments. These financial instruments include guarantees and unfunded commitments under existing lines of credit. These commitments expose the Company to varying degrees of credit and market risk which are essentially the same as those involved in extending loans to customers, and are subject to the same credit policies used in underwriting loans. Collateral may be obtained based on the Company’s credit evaluation of the counterparty. The Company’s maximum exposure to credit loss is represented by the contractual amount of these commitments. Unfunded commitments under lines of credit Unfunded commitments under lines of credit include commercial, commercial real estate, home equity and consumer lines of credit to existing customers. These commitments may mature without being fully funded. Unfunded commitments under lines of guarantees Unfunded commitments under lines of guarantees are conditional commitments issued by the Company to provide bank guarantees to a customers. These commitments may mature without being fully funded. Bank guarantees Bank guarantees are conditional commitments issued by the Company to guarantee the performance of a customer to a third party. These guarantees are primarily issued to support trade transactions or guarantee arrangements. The credit risk involved in issuing guarantees is essentially the same as that involved in extending loan facilities to customers. A significant portion of the issued guarantees are collateralized by cash. Total lending related commitments outstanding at December 31, 2021, were as follows: December 31, 2021 March 31, 2021 Bank guarantees $ 5,232 $ 6,594 Unfunded commitments under lines of credits and guarantees 10,142 182 $ 15,374 $ 6,776

SEGMENT REPORTING

SEGMENT REPORTING	3 Months Ended
	Dec. 31, 2021
Segment Reporting [Abstract]
SEGMENT REPORTING	NOTE 24 – SEGMENT REPORTING The Company historically operated as a single operating segment. Subsequent to the initial issuance of these financial statements, with the planned restructuring of the Company's operations and divestiture of Russian subsidiaries, coupled with the continued expansion, there was an election to reorganize operations geographically into five regional segments: Central Asia, Europe, United States, Middle East/Caucasus and Russia. The Company's CODM do not review inter-segment revenues as part of Segment reporting. Due to the restatements as discussed in Note 4, the Company has also restated its segment reporting to align with the changes in reportable segments subsequent to the initial issuance of these financial statements. Restated segment information was provided to CODM in their reports. The following tables summarize the Company's Statement of Operations and Statements of Other Comprehensive Income by its geographic segments. Intercompany balances were eliminated for separate disclosure: Three months ended December 31, 2021 (Restated) STATEMENTS OF OPERATIONS Central Asia Europe U.S. Middle East/Caucasus Total Fee and commission income (1) $ 6,993 $ 83,162 $ 1,256 — 91,411 Net gain on trading securities 6,432 481 101 — 7,014 Interest income 19,845 4,940 14 — 24,799 Net gain/(loss) on foreign exchange operations 1,747 (437) (209) 5 1,106 Net (loss)/ gain on derivative (314) — (314) TOTAL REVENUE, NET 34,703 88,146 1,162 5 124,016 Fee and commission expense 2,381 18,106 153 — 20,640 Interest expense 14,097 3,919 418 — 18,434 Operating expense / (income) 11,909 10,517 5,903 (86) 28,243 Provision for impairment losses — — 32 — 32 Other income /(expense) , net (83) (13) 2 (94) TOTAL EXPENSE 28,304 32,529 6,506 (84) 67,255 NET INCOME BEFORE INCOME TAX $ 6,399 $ 55,617 $ (5,344) 89 $ 56,761 Income tax expense 1,294 (7,176) 4,114 — (1,768) NET PROFIT/(LOSS) $ 7,693 $ 48,441 $ (1,230) 89 $ 54,993 Nine months ended December 31, 2021 (Restated) STATEMENTS OF OPERATIONS Central Asia Europe U.S. Middle East/Caucasus Total Fee and commission income (1) $ 18,258 $ 241,066 $ 3,391 — 262,715 Net gain/(loss) on trading securities 16,102 179,473 (305) — 195,270 Interest income 51,250 8,015 74 — 59,339 Net gain/(loss) on foreign exchange operations 4,472 (497) (207) 5 3,773 Net (loss)/ gain on derivative (1,028) — — — (1,028) TOTAL REVENUE, NET 89,054 428,057 2,953 5 520,069 Fee and commission expense 3,797 56,946 503 — 61,246 Interest expense 35,891 7,422 1,119 — 44,432 Operating expense 29,099 20,089 14,275 81 63,544 Provision for impairment losses 571 11 32 — 614 Other income/(expense), net 503 (21) — (2) 480 TOTAL EXPENSE 69,861 84,447 15,929 79 170,316 NET INCOME BEFORE INCOME TAX 19,193 343,610 (12,976) (74) 349,753 Income tax (expense)/ benefit 1,324 (21,190) (19,114) — (38,980) NET PROFIT/(LOSS) 20,517 322,420 (32,090) (74) 310,773 Three months ended December 31, 2020 (Restated) STATEMENTS OF OPERATIONS Central Asia Europe U.S. Total Fee and commission income 3,445 54,629 25 58,099 Net gain on trading securities 6,768 28 7,176 13,972 Interest income 2,980 2,031 213 5,224 Net gain/(loss) on foreign exchange operations 295 88 (280) 103 Net (loss)/ gain on derivative 946 — — 946 14,434 56,776 7,134 78,344 TOTAL REVENUE, NET Fee and commission expense 332 17,874 89 18,295 Interest expense 1,603 1,096 524 3,223 Operating expense 4,776 4,070 1,492 10,338 Provision for impairment losses 952 — — 952 Other income/ (expense), net 16 (1) — 15 TOTAL EXPENSE 7,679 23,039 2,105 32,823 NET INCOME BEFORE INCOME TAX 6,755 33,737 5,029 45,521 Income tax (expense)/benefit (3) (3,548) (3,048) (6,599) NET PROFIT/(LOSS) 6,752 30,189 1,981 38,922 Nine months ended December 31, 2020 (Restated) STATEMENTS OF OPERATIONS Central Asia Europe U.S. Total Fee and commission income 11,754 124,208 25 135,987 Net gain on trading securities 12,117 87 7,039 19,243 Interest income 8,379 2,731 652 11,762 Net gain/(loss) on foreign exchange operations 605 (238) (225) 142 Net (loss)/ gain on derivative 61 — — 61 TOTAL REVENUE, NET 32,916 126,788 7,491 167,195 Fee and commission expense 618 44,927 226 45,771 Interest expense 5,020 2,018 1,764 8,802 Operating expense 12,640 6,671 2,925 22,236 Provision for impairment losses 770 404 399 1,573 Other income/(expense), net (41) (16) — (57) TOTAL EXPENSE 19,007 54,004 5,314 78,325 NET INCOME BEFORE INCOME TAX 13,909 72,784 2,177 88,870 Income tax (expense)/benefit (6) (7,381) (4,311) (11,698) NET PROFIT/(LOSS) 13,903 65,403 (2,134) 77,172 (1) All trading of U.S. and European exchange traded and OTC securities by all of the Company's securities brokerage firms, excluding PrimeEx, are routed to and executed through Freedom EU and all fee and commission income for those transactions is recognized at Freedom EU. The following tables summarize the Company's total asset and total liabilities by its geographic segments. Intercompany balances were eliminated for separate disclosure: December 31, 2021 (Restated) Central Asia Europe U.S. Middle East/Caucasus Held for Sale Total Total assets 1,157,484 622,309 27,219 387 919,592 2,726,991 Total liabilities 905,796 344,521 75,279 178 809,727 2,135,501 Net assets $ 251,688 $ 277,788 $ (48,060) $ 209 $ 109,865 $ 591,490 March 31, 2021 (Restated) Central Asia Europe U.S. Middle East/Caucasus Held for Sale Total Total assets 714,380 591,072 46,682 140 748,048 2,100,322 Total liabilities 557,747 530,227 60,117 3 676,568 1,824,662 Net assets $ 156,633 $ 60,845 $ (13,435) $ 137 $ 71,480 $ 275,660

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	3 Months Ended
	Dec. 31, 2021
Subsequent Events [Abstract]
Subsequent Events	SUBSEQUENT EVENTS The Company has performed an evaluation of subsequent events through the time of filing this quarterly report on Form 10-Q/A with the SEC. During this period the Company did not have any additional material recognizable subsequent events.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended	9 Months Ended
	Dec. 31, 2021	Dec. 31, 2021
Accounting Policies [Abstract]
Accounting principles	The Company’s accounting policies and accompanying condensed consolidated financial statements conform to accounting principles generally accepted in the United States of America (U.S. GAAP). These financial statements have been prepared on the accrual basis of accounting.
Basis of presentation and principles of consolidation	The Company’s consolidated financial statements present the consolidated accounts of FRHC, Freedom RU, Freedom Bank RU, Freedom KZ, Freedom Global, Freedom Bank KZ, Freedom SPC, Freedom Commercial, Freedom EU, Freedom Technologies, Freedom GE, Prime UK, Freedom UZ, Freedom AZ, Freedom AR, PrimeEx, and FFIN. All significant inter-company balances and transactions have been eliminated from the consolidated financial statements.
Consolidation of variable interest entities	In accordance with accounting standards regarding consolidation of variable interest entities (“VIEs”), the primary beneficiary is required to consolidate the VIE for financial reporting purposes. VIEs are generally entities that lack sufficient equity to finance their activities without additional financial support from other parties or whose equity holders lack adequate decision-making ability. VIEs must be evaluated to determine the primary beneficiary of the risks and rewards of the VIE.
Use of estimates	The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Management believes that the estimates utilized in preparing its financial statements are reasonable and prudent. Actual results could differ from those estimates.
Revenue recognition	Accounting Standards Codification (“ASC”) Topic 606, Revenue from Contracts with Customers (“ASC Topic 606”), establishes principles for reporting information about the nature, amount, timing and uncertainty of revenue and cash flows arising from the entity’s contracts to provide goods or services to customers. The core principle requires an entity to recognize revenue to depict the transfer of goods or services promised to customers in an amount that reflects the consideration that it expects to be entitled to receive in exchange for those goods or services recognized as performance obligations are satisfied. A significant portion of the Company’s revenue-generating transactions are not subject to ASC Topic 606, including revenue generated from financial instruments, such as loans and investment securities, as these activities are subject to other U.S. GAAP guidance discussed elsewhere within these disclosures. Descriptions of the Company’s revenue-generating activities that are within the scope of ASC Topic 606, which are presented in the Condensed Consolidated Statements of Operations and Statements of Other Comprehensive Income as components of non-interest income are as follows: • Commissions on brokerage services; • Commissions on banking services (money transfers, foreign exchange operations and other); and • Commissions on investment banking services (underwriting, market making, and bondholders’ representation services). Under Topic 606, the Company is required to recognize commission fees when they are probable and there is not a significant chance of reversal in the future. The Company recognizes revenue in accordance with this core principle by applying the following steps: • Step 1: Identify the contract(s) with a customer - A contract is an agreement between two or more parties that creates enforceable rights and obligations. • Step 2: Identify the performance obligations in the contract - A contract includes promises to transfer goods or services to a customer. If those goods or services are distinct, the promises are performance obligations and are accounted for separately. • Step 3: Determine the transaction price - The transaction price is the amount of consideration in a contract to which an entity expects to be entitled in exchange for transferring promised goods or services to a customer. The transaction price can be a fixed amount of customer consideration, but it may sometimes include variable consideration or consideration in a form other than cash. The transaction price also is adjusted for the effects of the time value of money if the contract includes a significant financing component and for any consideration payable to the customer. If the consideration is variable, an entity estimates the amount of consideration to which it will be entitled in exchange for the promised goods or services. The estimated amount of variable consideration will be included in the transaction price only to the extent that it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is subsequently resolved. • Step 4: Allocate the transaction price to the performance obligations in the contract - An entity typically allocates the transaction price to each performance obligation on the basis of the relative standalone selling prices of each distinct good or service promised in the contract. If a standalone selling price is not observable, an entity estimates it. Sometimes, the transaction price includes a discount or a variable amount of consideration that relates entirely to a part of the contract. • Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation - An entity recognizes revenue when (or as) it satisfies a performance obligation by transferring a promised good or service to a customer (which is when the customer obtains control of that good or service). The amount of revenue recognized is the amount allocated to the satisfied performance obligation. A performance obligation may be satisfied at a point in time (typically for promises to transfer goods to a customer) or over time (typically for promises to transfer services to a customer). For performance obligations satisfied over time, an entity recognizes revenue over time by selecting an appropriate method for measuring the entity’s progress toward complete satisfaction of that performance obligation.
Interest income		Loan premiums and discounts are deferred and generally amortized into interest income as yield adjustments over the contractual life and/or commitment period using the effective interest method. Unamortized premiums, discounts and other basis adjustments on trading securities are generally recognized in interest income over the contractual lives of the securities using the effective interest method.
Derivative financial instruments	In the normal course of business, the Company invests in various derivative financial contracts including futures. Derivatives are initially recognized at fair value at the date a derivative contract is entered into and are subsequently re-measured to their fair value at each reporting date. The fair values are estimated based on quoted market prices or pricing models that take into account the current market and contractual prices of the underlying instruments and other factors. Derivatives are carried as assets when their fair value is positive and as liabilities when it is negative.
Loans and Loans acquired		The Company’s loan portfolio is divided into three portfolio segments: credit cards, mortgages and retail banking loans. Credit cards consist of loans provided to individuals and businesses through the cards. Mortgage loans consist of loans provided to individuals to purchase real estate, which is used as collateral for the loan. Retail banking loans consist of unsecured loans provided to individuals. Loans Acquired All purchased loans are initially recorded at fair value, which includes consideration of expected future losses, at the date of the loan acquisition. To determine the fair value of loans at the date of acquisition, the Company estimates the discounted contractual cash flows due using an observable market rate of interest, adjusted for factors such as probable default rates of the borrowers, and the loan terms that a market participant would consider in determining fair value. In determining fair value, contractual cash flows are adjusted to include prepayment estimates based upon historical payment trends, forecasted default rates and loss severities and other relevant factors. The difference between the fair value and the contractual cash flows is recorded as a loan premium or discount, which may relate to either credit or non-credit factors, at acquisition. The Company accounts for purchased loans under the accounting guidance for purchased financial assets with credit deterioration when, at the time of purchase, the loans have experienced a more-than-insignificant deterioration in credit quality since origination. The Company recognizes an allowance for credit losses on purchased loans that have not experienced a more-than-insignificant deterioration in credit quality since origination at the time of purchase through earnings in a manner that is consistent with originated loans. The policies relating to the allowance for credit losses on loans is described below in the “Estimate of Incurred Loan Losses” section of this Note. Estimate of Incurred Loan Losses. The allowance represents management’s current estimate of incurred loan losses inherent in the Company’s loan portfolio as of each balance sheet date. The provision for credit losses reflects credit losses the Company believes have been incurred and will eventually be recognized over time through charge-offs. Management performed a quarterly analysis of the Company’s loan portfolio to determine if impairment had occurred and to assess the adequacy of the allowance based on historical and current trends as well as other factors affecting credit losses. The Company applied separate calculations of the allowances for its credit cards, mortgages and retail loan portfolios. Based on the adopted methodology, the Company estimated the probability of default based on historical default rates, adjusted for certain macro indicators, such as GDP, average exchange rates, unemployment rate and real wage index. Loss given default is calculated based on the collateral coverage of the loans. The Company’s allowance for loan losses consists of two components that are allocated to cover the estimated probable losses in each loan portfolio based on the results of the Company’s detailed review and loan impairment assessment process: (i) a component for loans collectively evaluated for impairment; and (ii) an asset-specific component for individually impaired loans. The component of the allowance related to credit card, mortgages and retail banking loans that the Company collectively evaluated for impairment is based on a statistical calculation and on its historical loss experience for loans with similar risk characteristics and consideration of the current credit quality of the portfolio. The asset-specific component of the allowance includes smaller-balance homogeneous credit card and retail banking loans whose terms have been modified in a troubled debt restructuring and larger-balance nonperforming, non-homogeneous commercial banking loans. The Company generally measures the asset-specific component of the allowance based on the difference between the recorded investment of individually impaired loans and the present value of expected future cash flows. In addition to the allowance, the Company also estimates probable losses related to contractually binding unfunded lending commitments.
Functional currency	Management has adopted ASC 830, Foreign Currency Translation Matters as it pertains to its foreign currency translation. The Company’s functional currencies are the Russian ruble, European euro, U.S. dollar, Ukrainian hryvnia, Uzbekistani som, Kazakhstani tenge, Kyrgyzstani som, UK pound sterling, Azerbaijani manat and the Armenian dram, and its reporting currency is the U.S. dollar. For financial reporting purposes, foreign currencies are translated into U.S. dollars as the reporting currency. Monetary assets and liabilities denominated in foreign currencies are translated into U.S. dollars using the exchange rate prevailing at the balance sheet date. Non-monetary assets and liabilities denominated in foreign currencies are translated at rates of exchange in effect at the date of the transaction. Average monthly rates are used to translate revenues and expenses. Translation adjustments arising from the use of different exchange rates from period to period are included as a component of stockholders’ equity as “Accumulated other comprehensive loss”.
Cash and cash equivalents	Cash and cash equivalents are generally comprised of certain highly liquid investments with maturities of three months or less at the date of purchase. Cash and cash equivalents include reverse repurchase agreements which are recorded at the amounts at which the securities were acquired or sold plus accrued interest.
Securities reverse repurchase and repurchase agreements	A reverse repurchase agreement is a transaction in which the Company purchases financial instruments from a seller, typically in exchange for cash, and simultaneously enters into an agreement to resell the same or substantially the same financial instruments to the seller for an amount equal to the cash or other consideration exchanged plus interest at a future date. Securities purchased under reverse repurchase agreements are accounted for as collateralized financing transactions and are recorded at the contractual amount for which the securities will be resold, including accrued interest. Financial instruments purchased under reverse repurchase agreements are recorded in the financial statements as cash placed on deposit collateralized by securities and classified as cash and cash equivalents in the Condensed Consolidated Balance Sheets. A repurchase agreement is a transaction in which the Company sells financial instruments to another party, typically in exchange for cash, and simultaneously enters into an agreement to reacquire the same or substantially the same financial instruments from the buyer for an amount equal to the cash or other consideration exchanged plus interest at a future date. These agreements are accounted for as collateralized financing transactions. The Company retains the financial instruments sold under repurchase agreements and classifies them as trading securities in the Condensed Consolidated Balance Sheets. The consideration received under repurchase agreements is classified as securities repurchase agreement obligations in the Condensed Consolidated Balance Sheets. The Company enters into reverse repurchase, repurchase, securities borrowed and securities loaned transactions to, among other things, acquire securities to leverage and grow its proprietary trading portfolio, cover short positions and settle other securities obligations, to accommodate customers’ needs and to finance its inventory positions. The Company enters into these transactions in accordance with normal market practice. Under standard terms for repurchase transactions, the
Available-for-sale securities	Financial assets categorized as available-for-sale (“AFS”) are non-derivatives that are either designated as available-for-sale or not classified as (a) loans and receivables, (b) held-to-maturity securities or (c) trading securities.Listed shares and listed redeemable notes held by the Company that are traded in an active market are classified as AFS and are stated at fair value. The Company has investments in unlisted shares that are not traded in an active market that are also classified as investments AFS and stated at fair value (because Company management considers that fair value can be reliably measured). Gains and losses arising from changes in fair value are recognized in other comprehensive income and are included in accumulated other comprehensive loss, with the exception of other-than-temporary impairment losses, interest calculated using the effective interest method, dividend income and foreign exchange gains and losses, which are recognized in the Condensed Consolidated Statements of Operations and Statements of other Comprehensive Income. When the investment is disposed of or is determined to be impaired, the cumulative gain or loss previously accumulated in the investments’ revaluation reserve is then reclassified to Condensed Consolidated Statements of Operations and Statements of Other Comprehensive Income.
Trading securities	Financial assets are classified as trading securities if the financial asset has been acquired principally for the purpose of selling it in the near term. Trading securities are stated at fair value, with any gains or losses arising on remeasurement recognized in revenue. Changes in fair value are recognized in the Condensed Consolidated Statements of Operations and Statements of Other Comprehensive Income and included in net gain on trading securities. Interest earned and dividend income are recognized in the Condensed Consolidated Statements of Operations and Statements of Other Comprehensive Income and are included in interest income, according to the terms of the contract and when the right to receive the payment has been established. Investments in nonconsolidated managed funds are accounted for at fair value based on the net asset value (“NAV”) of the funds provided by the fund managers with gains or losses included in net gain on trading securities in the Condensed Consolidated Statements of Operations and Statements of Other Comprehensive Income.
Debt securities issued	Debt securities issued are initially recognized at the fair value of the consideration received, less directly attributable transaction costs. Subsequently, amounts due are stated at amortized cost and any difference between net proceeds and the redemption value is recognized over the period of the borrowings using the effective interest method. If the Company purchases its own debt, it is removed from the Condensed Consolidated Balance Sheets and the difference between the carrying amount of the liability and the consideration paid is recognized in the Condensed Consolidated Statements of Operations and Statements of Other Comprehensive Income.
Brokerage and other receivables, and Margin lending	Brokerage and other receivables are comprised of commissions and receivables related to the securities brokerage and banking activity of the Company. At initial recognition, brokerage and other receivables are recognized at fair value. Subsequently, brokerage and other receivables are carried at cost net of any allowance for impairment losses.
Margin lending		The Company engages in securities financing transactions with and for clients through margin lending. Under agreements, the Company is permitted to sell or repledge securities received as collateral and use these securities to secure securities acquired under resale agreements, enter into securities lending transactions or deliver these securities to counterparties to cover short positions. Margi n lending tends to have lower credit risk due to the value of the collateral held and also its short-term nature. Margin lending balances tend to fluctuate from period to period as total customer balances change because of changing market levels, customer positioning and leverage. Client margin requirements and established credit limits are continuously monitored by risk management of the Company. It is Company policy that clients must post additional collateral or reduce positions when necessary to avoid automatic liquidation of their positions.
Derecognition of financial assets	A financial asset (or, where applicable a part of a financial asset or a part of a group of similar financial assets) is derecognized when all of the following conditions are met: • The transferred financial assets have been isolated from the Company - put presumptively beyond the reach of the Company and its creditors, even in bankruptcy or other receivership. • The transferee has rights to pledge or exchange financial assets. • The Company or its agents do not maintain effective control over the transferred financial assets or third-party beneficial interests related to those transferred assets Where the Company has not met the asset derecognition conditions above, it continues to recognize the asset to the extent of its continuing involvement.
Impairment of long-lived assets	In accordance with the accounting guidance for the impairment or disposal of long-lived assets, the Company periodically evaluates the carrying value of long-lived assets to be held and used when events and circumstances warrant such a review. The carrying value of a long-lived asset is considered impaired when the fair value from such asset is less than its carrying value. In that event, a loss is recognized based on the amount by which the carrying value exceeds the fair value of the long-lived asset. Fair value is determined primarily using the anticipated cash flows, discounted at a rate commensurate with the risk involved. Losses on long-lived assets to be disposed of are determined in a similar manner, except that fair values are reduced for the cost of disposal.
Impairment of goodwill	As of December 31, 2021, and March 31, 2021, goodwill recorded in the Company’s Consolidated Balance Sheets totaled $7,840 and $7,868, respectively. The Company performs an impairment review at least annually unless indicators of impairment exist in interim periods. The impairment test for goodwill uses a two-step approach. Step one compares the estimated fair value of a reporting unit with goodwill to its carrying value. If the carrying value exceeds the estimated fair value, step two must be performed. Step two compares the carrying value of the reporting unit to the fair value of all of the assets and liabilities of the reporting unit as if the reporting unit was acquired in a business combination. If the carrying amount of a reporting unit’s goodwill exceeds the implied fair value of its goodwill, an impairment loss is recognized in an amount equal to the excess. In its annual goodwill impairment test, the Company estimated the fair value of the reporting unit based on the income approach (also known as the discounted cash flow method) and determined the fair value of the Company’s goodwill exceeded the carrying amount of the Company’s goodwill. The goodwill value as of December 31, 2021, decreased compared to March 31, 2021, due to foreign exchange currency translation.
Assets and Liabilities Held for Sale		Asset and Liabilities Held for Sale The Company classifies assets and liabilities (the "disposal group") as held for sale in the period when all of the relevant criteria to be classified as held for sale are met. Criteria include management commitment to sell the disposal group in its present condition and the sale being deemed probable of being completed within one year. Assets held for sale are reported at the lower of their carrying value or fair value less cost to sell. Any loss resulting from the measurement is recognized in the period the held for sale criteria are met. The Company assesses the fair value of a disposal group, less any costs to sell, each reporting period it remains classified as held for sale and reports any subsequent changes as an adjustment to the carrying value of the disposal group, as long as the new carrying value does not exceed the initial carrying value of the disposal group. Assets held for sale are not amortized or depreciated. A disposal group that represents a strategic shift to the Company or is acquired with the intention to sell is reflected as a discontinued operation on the Condensed Consolidated Statements of Operation and Statement of Other Comprehensive Income and prior periods are recast to reflect the earnings or losses as income from discontinued operations. The Condensed Consolidated Financial Statements and related Notes reflect the securities brokerage and complementary banking operations in Russia as discontinued operations as the Company has entered into an agreement to divest these operations. The sale of these operations was approved by the Central Bank of the Russian Federation on February 10, 2023, and the sale was completed on February 28, 2023. For the purpose of preparing current amended condensed consolidated financial statements, the Company has reclassified Russian business's assets and liabilities as held for sale. Additional information is presented in Note 3 "Recast".
Income taxes	The Company recognizes deferred tax liabilities and assets based on the difference between the financial statements and tax basis of assets and liabilities using the enacted tax rates in effect for the year in which the differences are expected to reverse. The measurement of deferred tax assets is reduced, if necessary, by the amount of any tax benefits that, based on available evidence, are not expected to be realized. Current income tax expenses are provided for in accordance with the laws of the relevant taxing authorities. As part of the process of preparing financial statements, the Company is required to estimate its income taxes in each of the jurisdictions in which it operates. The Company accounts for income taxes using the asset and liability approach. Under this method, deferred income taxes are recognized for tax consequences in future years based on differences between the tax bases of assets and liabilities and their reported amounts in the financial statements at each year-end and tax loss carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates applicable for the differences that are expected to affect taxable income. The Company will include interest and penalties arising from the underpayment of income taxes in the provision for income taxes (if anticipated). As of December 31, 2021, and March 31, 2021, the Company had no accrued interest or penalties related to uncertain tax positions. The Global Intangible Low-Taxed Income (“GILTI”) provisions of the Tax Reform Act require the Company to include in its U.S. income tax return foreign subsidiary earnings in excess of an allowable return on the foreign subsidiary’s tangible assets. The Company has presented the deferred tax impacts of GILTI tax in its consolidated financial statements as of December 31, 2021 and 2020.
Financial instruments	Financial instruments are carried at fair value as described below. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value measurement is based on the presumption that the transaction to sell the asset or transfer the liability takes place either in the principal market for the asset or liability, or in the absence of a principal market, in the most advantageous market for the asset or liability. Fair value is the current bid price for financial assets, current ask price for financial liabilities and the average of current bid and ask prices when the Company is both in short and long positions for the financial instrument. A financial instrument is regarded as quoted in an active
Leases	The Company adopted ASU No. 2016-02, “Leases (Topic 842)”, which requires leases with durations greater than twelve months to be recognized on the balance sheet. Right-of-use assets and corresponding lease liabilities are recognized on the Company’s Consolidated Balance Sheets. Refer to Note 19 - Leases, within the notes to condensed consolidated financial statements for additional disclosure and significant accounting policies affecting leases.
Fixed assets	Fixed assets are carried at cost, net of accumulated depreciation. Maintenance, repairs, and minor renewals are expensed as incurred. Depreciation is computed using the straight-line method over the estimated useful lives of the assets, which range between three
Segment information		Segment information Historically, the Company's chief operating decision maker ("CODM"), who is its chief executive officer, viewed the Company as a single operating segment offering financial services to its customers in a single geographic region covering Eurasia . The CODM recently, however, restructured the Company's operations into five geographical regions ("segments"). These regions include Central Asia, Europe, the U.S., Russia, and Middle East/Causcasus. In order to determine appropriate segment disclosure as stated in ASC 280-10-55-26 the Company followed the steps outlined below: • identified operating segments using the management approach; • determined whether two or more operating segments may be aggregated into a single operating segment; • applied the quantitative thresholds and other criteria to determine reportable segments; • considered what information should be disclosed for each reportable segment; and
Recent accounting pronouncements	In June 2016 the FASB issued Accounting Standards Update No. 2016-13, “Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments”, which introduced an expected credit loss methodology for the impairment of financial assets measured at amortized cost basis. That methodology replaces the probable, incurred loss model for those assets. In November 2019, the FASB issued ASU 2019-10 “Financial Instruments-Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842)”. The FASB developed a philosophy to extend and simplify how effective dates are staggered between larger public companies (bucket one) and all other entities (bucket two). Those other entities include private companies, smaller public companies, not-for-profit organizations, and employee benefit plans. Under this philosophy, a major update would first be effective for bucket-one entities, that is, public business entities that are SEC filers, excluding entities eligible to be smaller reporting companies (SRCs) under the SEC’s definition. The Master Glossary of the Codification defines public business entities and SEC filers. All other entities, including SRCs, other public business entities, and nonpublic business entities (private companies, not-for-profit organizations, and employee benefit plans) would compose bucket two. For those entities, it is anticipated that the FASB will consider requiring an effective date staggered at least two years after bucket one for major updates. At the date when ASU 2016-13 was issued, the Company was an SRC and according to ASU 2019-10, qualifies for bucket two. Accordingly, ASU 2016-13 and ASU 2017-12 are effective for fiscal years beginning after December 15, 2022. The Company is currently evaluating the impact that ASU 2016-13 and 2017-12 will have on its consolidated financial statements and related disclosures. In January 2021 the FASB issued ASU No. 2021-01, Reference Rate Reform (Topic 848): Scope, which clarifies that certain optional expedients and exceptions in FASB Accounting Standards Codification (ASC) Topic 848, Reference Rate Reform, for contract modifications and hedge accounting apply as well to derivatives that are affected by the changes in interest rates used for margining, discounting or contract price alignment (i.e., the discounting transition). Examples of such use include (1) rates used in interest rate swaps to compute the cash flows for the swap’s variable leg, (2) interest rate indexes used to discount the future cash flows of a derivative instrument to determine its fair value, and (3) the compensation or the interest amount earned on margin payments (i.e., contract price alignment). The amended guidance in ASU No. 2021-01 is effective immediately for all entities. The guidance may be applied on (1) a full retrospective basis as of any date from the beginning of an interim period that includes or is subsequent to March 12, 2020, or (2) a prospective basis to new modifications from any date within an interim period that includes or is subsequent to the date of the issuance of ASU No. 2021-01 through the date that financial statements are available to be issued. If any of the amendments are applied for an eligible hedging relationship, adjustments resulting therefrom must be reflected as of the date that the election is applied. The Company's adoption of the provisions of ASU No. 2021-01 had no significant impact on the Company's consolidated financial statements. In May 2021 the FASB issued Accounting Standards Update No. 2021-04, Earnings Per Share (Topic 260), Debt-Modifications and Extinguishments (Subtopic 470-50), Compensation-Stock Compensation (Topic 718), and Derivatives and Hedging-Contracts in Entity’s Own Equity (Subtopic 815-40): Issuer’s Accounting for Certain Modifications or Exchanges of Freestanding Equity-Classified Written Call Options, a consensus of the Emerging Issues Task Force (EITF) , which amends the FASB Accounting Standards Codification (ASC or the “Codification”) to provide explicit guidance, and, thus, reduce diversity in practice, on accounting by issuers for modifications or exchanges of freestanding equity-classified written call options that remain equity classified after the modification or exchange. This amendment provides that for an entity that presents earnings per share (EPS) in accordance with Topic 260, the effects of a modification or an exchange of a freestanding equity-classified written call option that is recognized as a dividend should be an adjustment to net income (or net loss) in the basic EPS calculation. The amended guidance becomes mandatorily effective for all entities for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years, and should be applied prospectively to modifications or exchanges occurring on or after the effective date. The Company is currently evaluating the impact that ASU 2021-04 will have on its consolidated financial statements and related disclosures. In August 2021 the FASB issued Accounting Standard Update No 2021-06 “Presentation of Financial Statements (Topic 205), Financial Services — Depository and Lending (Topic 942), and Financial Services — Investment Companies (Topic 946)” which amends various SEC paragraphs pursuant to the issuance of SEC Release No. 33-10786, Amendments to Financial Disclosures about Acquired and Disposed Businesses. SEC issued Final Rulemaking Release No. 33-10786, Amendments to Financial Disclosures about Acquired and Disposed Businesses, which modified the disclosure and presentation requirements concerning acquisitions and disposals of businesses. Primarily, the new rules amended (1) Rule 1-02(w) of Regulation S-X, Definition of Terms Used in Regulation S-X, Significant Subsidiary, (2) Rule 3-05 of Regulation S-X, Financial Statements of Businesses Acquired or to Be Acquired, (3) Rule 8-05 of Regulation S-X, Pro Forma Financial Information (which covers smaller reporting companies), and (4) Article 11 of Regulation S-X, Pro Forma Financial Information. In addition, new Rule 6-11 of Regulation S-X, Financial Statements of Funds Acquired or to Be Acquired, covering acquisitions specific to investment companies, was added. Corresponding changes were made to other Regulation S-X rules, various Securities Act and Securities Exchange Act rules, and Forms 8-K and 10-K. Compliance with the amended rules is required from the beginning of a registrant’s fiscal year commencing after December 31, 2020 (i.e., the mandatory compliance date). Acquisitions and dispositions that are probable or consummated after the mandatory compliance date are required to be evaluated for significance pursuant to the amended rules. Early compliance is permitted, provided that all the amended rules are applied in their entirety from the early compliance date. ASU No. 2021-06 amends SEC material in the Codification to give effect to Release No. 33-10786. The new rules apply to fiscal years ending on or after December 15, 2021 (i.e., calendar-year 2021). Early voluntary compliance is allowed. Note that the rescission of Industry Guide 3 is effective on January 1, 2023. ASU No. 2021-06 amends SEC material in the Codification to give effect to Release No. 33-10835. The Company is currently evaluating the impact that ASU 2021-06 will have on its consolidated financial statements and related disclosures. In October 2021, The SEC issued the amendment of Compensation-Stock Compensation No. 2021-07, Determining the Current Price of an Underlying Share for Equity-Classified Share-Based Awards a consensus of the Private Company Council. The main amendments were concentrated in add paragraphs 718-10-30-20C through 30-20H and their related heading, with a link to transition paragraph 718-10-65-16, in which as a practical expedient, a nonpublic may use a value determined by the reasonable application of a reasonable valuation method as the current price of its underlying share for purposes of determining the fair value of an award that is classified as equity in accordance with paragraphs 718-10-25-6 through 25-18 at grant date or upon a modification. Moreover, in the topic was amended paragraph 718-10-50-2(f), with a link to transition paragraph 718-10-65-16, which states that listed requirements indicates the minimum information needed to achieve the objectives in paragraph 718-10-50-1 and illustrates how the disclosure requirements might be satisfied. In some circumstances, an entity may need to disclose information beyond the following to achieve the disclosure objectives. Firstly, a description of the method used during the year to estimate the fair value (or calculated value) of awards under share-based payment arrangements. Secondly, a description of the significant assumptions used during the year to estimate the fair value (or calculated value) of share-based compensation awards, including: i. Expected term of share options and similar instruments, including a discussion of the method used to incorporate the contractual term of the instruments and grantees' expected exercise and post vesting termination behavior into the fair value of the instrument. ii. Expected volatility of the entity's shares and the method used to estimate it. An entity that uses a method that employs different volatilities during the contractual term shall disclose the range of expected volatilities used and the weighted-average expected volatility. iii. Expected dividends. iv. Risk-free rate(s). v. Discount for post vesting restrictions and the method for estimating it. vi. Practical expedient for current price input. The topic also contains added paragraph 718-10-65-16, that illustrates the transition and effective date information related to Accounting Standards Update No. 2021-07 by the listed requirement: a. The pending content that links to this paragraph shall be effective for fiscal years beginning after December 15, 2021, and interim periods within fiscal years beginning after December 15, 2022. b. An entity shall apply the pending content that links to this paragraph prospectively. c. Early application, including application in an interim period, is permitted for financial statements that have not been issued or made available for issuance as of October 25, 2021. The Company is currently evaluating the impact that ASU 2021-06 will have on its consolidated financial statements and related disclosures. In October 2021, The SEC issued the amendment of Business Combinations (Topic 805), No. 2021-08, which related to Accounting for Contract Assets and Contract Liabilities from Contracts with Customers. The main amendments were concentrated in paragraphs 805-20-25-16 through 25-17 and add paragraph 805-20-25-28C and its related heading, with a link to transition paragraph 805-20-65-3, where the topic provides limited exceptions to the recognition and measurement principles applicable to business combinations. Moreover, the topic amends paragraphs 805-20-30-10 through 30-12 and add paragraphs 805-20-30-27 through 30-30 and their related heading, with a link to transition paragraph 805-20-65-3. Paragraph 805-20-25-16 notes that the Business Combinations Topic provides limited exceptions to the recognition and measurement principles applicable to business combinations. In the topic has been added paragraph 805-20-65-3, in which the following represents the transition and effective date information related to Accounting Standards Update No. 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers: a. For public business entities, the pending content that links to this paragraph shall be effective for fiscal years, including interim periods within those fiscal years, beginning after December 15, 2022. The Company is currently evaluating the impact that ASU 2021-06 will have on its consolidated financial statements and related disclosures. .

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	3 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Schedule of changes in the carrying amount of goodwill	The changes in the carrying amount of goodwill as of March 31, 2021, and for the quarter December 31, 2021, were as follows: Balance as of March 31, 2021 $ 7,137 Foreign currency translation 703 Balance as of December 31, 2021 $ 7,840

RECAST (Tables)

RECAST (Tables)	3 Months Ended
	Dec. 31, 2021
Accounting Changes and Error Corrections [Abstract]
Revision of prior period statements	The previously issued Condensed Consolidated Balance Sheets as of December 31, 2021, and March 31, 2021 and Condensed Consolidated Statement of Operations and Statements of Other Comprehensive Income for the three and nine months ended December 31, 2021, and 2020 have been revised as follows: As of December 31, 2021 As previously reported Recast discontinued operations As recasted ASSETS Cash and cash equivalents $ 493,263 $ (346,905) $ 146,358 Trading securities 1,348,656 (400,823) 947,833 Restricted cash 404,718 12,025 416,743 Brokerage and other receivables, net 302,403 (108,245) 194,158 Loans issued 44,995 (2,556) 42,439 Other assets 30,321 (6,291) 24,030 Fixed assets, net 21,221 (3,822) 17,399 Right-of-use asset 17,830 (10,904) 6,926 Intangible assets, net 8,703 (5,031) 3,672 Goodwill 7,840 — 7,840 Available-for-sale securities, at fair value 1 — 1 Assets held for sale — 919,592 919,592 TOTAL ASSETS $ 2,679,951 $ 47,040 $ 2,726,991 LIABILITIES AND SHAREHOLDERS’ EQUITY Securities repurchase agreement obligations $ 710,284 $ (82,791) $ 627,493 Customer liabilities 1,145,070 (592,055) 553,015 Trade payables 51,031 (656) 50,375 Current income tax liability 20,620 (41) 20,579 Securities sold, not yet purchased – at fair value 15,167 — 15,167 Loans received 3,497 — 3,497 Debt securities issued 105,363 (71,716) 33,647 Lease liability 17,573 (10,542) 7,031 Deferred income tax liabilities 1 1,485 1,486 Deferred distribution payments 8,534 — 8,534 Liabilities held for sale — 809,727 809,727 Other liabilities 11,321 (6,371) 4,950 TOTAL LIABILITIES 2,088,461 47,040 2,135,501 Commitments and Contingent Liabilities (Note 30) — — — SHAREHOLDERS’ EQUITY Preferred stock - $0.001 par value; 20,000,000 shares authorized, no shares issued or outstanding — — — Common stock - $0.001 par value; 500,000,000 shares authorized; 59 — 59 Additional paid in capital 115,278 — 115,278 Retained earnings 516,149 — 516,149 Accumulated other comprehensive loss (39,152) — (39,152) TOTAL EQUITY ATTRIBUTABLE TO THE COMPANY 592,334 — 592,334 Non-controlling interest (844) — (844) TOTAL SHAREHOLDERS’ EQUITY 591,490 — 591,490 TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 2,679,951 $ 47,040 $ 2,726,991 As of March 31, 2021 As previously reported Recast discontinued operations As recasted ASSETS Cash and cash equivalents $ 698,828 $ (530,811) $ 168,017 Trading securities 736,188 (148,642) 587,546 Restricted cash 437,958 52,733 490,691 Brokerage and other receivables, net 64,801 (15,283) 49,518 Loans issued 11,667 (2,041) 9,626 Other assets 19,902 (4,263) 15,639 Fixed assets, net 18,385 (2,814) 15,571 Right-of-use asset 13,262 (8,636) 4,626 Intangible assets, net 9,785 (5,883) 3,902 Goodwill 7,868 (731) 7,137 Available-for-sale securities, at fair value 1 — 1 Assets held for sale — 748,048 748,048 TOTAL ASSETS $ 2,018,645 $ 81,677 $ 2,100,322 LIABILITIES AND SHAREHOLDERS’ EQUITY Securities repurchase agreement obligations $ 426,715 $ (51,997) $ 374,718 Customer liabilities 1,163,697 (491,872) 671,825 Trade payables 22,304 (302) 22,002 Current income tax liability 14,843 (644) 14,199 Securities sold, not yet purchased – at fair value 8,592 (23) 8,569 Loans received 3,373 — 3,373 Debt securities issued 68,443 (37,094) 31,349 Lease liability 13,249 (8,438) 4,811 Deferred income tax liabilities 4,385 (378) 4,007 Deferred distribution payments 8,534 — 8,534 Liabilities held for sale — 676,568 676,568 Other liabilities 8,850 (4,143) 4,707 TOTAL LIABILITIES 1,742,985 81,677 1,824,662 Commitments and Contingent Liabilities (Note 30) — — — SHAREHOLDERS’ EQUITY Preferred stock - $0.001 par value; 20,000,000 shares authorized, no shares issued or outstanding — — — Common stock - $0.001 par value; 500,000,000 shares authorized; 58 — 58 Additional paid in capital 104,672 — 104,672 Retained earnings 208,617 — 208,617 Accumulated other comprehensive loss (36,046) — (36,046) TOTAL EQUITY ATTRIBUTABLE TO THE COMPANY 277,301 — 277,301 Non-controlling interest (1,641) — (1,641) TOTAL SHAREHOLDERS’ EQUITY 275,660 — 275,660 TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 2,018,645 $ 81,677 $ 2,100,322 Three months ended December 31, 2021 As previously reported* Recast discontinued operations As recasted Revenue: Fee and commission income $ 117,316 $ (25,905) $ 91,411 Net gain on trading securities 403 6,611 7,014 Interest income 27,828 (3,029) 24,799 Net (loss)/gain on foreign exchange operations 451 655 1,106 Net loss on derivative (314) — (314) TOTAL REVENUE, NET 145,684 (21,668) 124,016 Expense: Fee and commission expense 22,716 (2,076) 20,640 Interest expense 20,799 (2,365) 18,434 Operating expense 50,496 (22,253) 28,243 Provision for impairment losses 45 (13) 32 Other expense, net (64) (30) (94) TOTAL EXPENSE 93,992 (26,737) 67,255 INCOME BEFORE INCOME TAX 51,692 5,069 56,761 Income tax expense (806) (962) (1,768) INCOME FROM CONTINUING OPERATIONS 50,886 4,107 54,993 Income/(loss) before income tax (expense)/benefit of discontinued operations — (5,067) (5,067) Income tax (expense)/benefit of discontinued operations — 962 962 Income/(loss) from discontinued operation — (4,105) (4,105) NET INCOME 50,886 2 50,888 Less: Net loss attributable to non-controlling interest in subsidiary (343) — (343) NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS $ 51,229 $ 2 $ 51,231 OTHER COMPREHENSIVE INCOME Reclassification adjustment for net realized gain on available-for-sale investments disposed of in the period, net of tax effect — — — Foreign currency translation adjustments, net of tax effect (7,336) 2,672 (4,664) OTHER COMPREHENSIVE INCOME/(LOSS) (7,336) 2,672 (4,664) COMPREHENSIVE INCOME BEFORE NON-CONTROLLING INTERESTS $ 43,550 $ 2,674 $ 46,224 Less: Comprehensive loss attributable to non-controlling interest in subsidiary (343) — (343) COMPREHENSIVE INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS $ 43,893 $ 2,674 $ 46,567 For the three months ended December 31, 2021, the Company’s EPS as reported was 0.86 for basic and diluted EPS. Due to the items noted above, the Company’s EPS has been recast to 0.93, (0.07), and 0.86 for basic and diluted EPS for continuing operations, discontinued operations, and total EPS, respectively. Three months ended December 31, 2020 As previously reported* Recast discontinued operations As recasted Revenue: Fee and commission income $ 72,484 $ (14,385) $ 58,099 Net gain on trading securities 18,944 (4,972) 13,972 Interest income 9,223 (3,999) 5,224 Net (loss)/gain on foreign exchange operations (1,413) 1,516 103 Net gain on derivative 995 (49) 946 TOTAL REVENUE, NET 100,233 (21,889) 78,344 Expense: Fee and commission expense 20,278 (1,983) 18,295 Interest expense 6,649 (3,426) 3,223 Operating expense 21,921 (11,583) 10,338 Provision for impairment losses 1,109 (157) 952 Other expense, net 244 (229) 15 TOTAL EXPENSE 50,201 (17,378) 32,823 INCOME BEFORE INCOME TAX 50,032 (4,511) 45,521 Income tax expense (7,711) 1,112 (6,599) INCOME FROM CONTINUING OPERATIONS 42,321 (3,399) 38,922 Income before income tax expense of discontinued operations — 4,511 4,511 Income tax expense of discontinued operations — (1,112) (1,112) Income from discontinued operations — 3,399 3,399 NET INCOME 42,321 — 42,321 Less: Net loss attributable to non-controlling interest in subsidiary (53) — (53) NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS $ 42,374 $ — $ 42,374 OTHER COMPREHENSIVE INCOME Reclassification adjustment for net realized gain on available-for-sale investments disposed of in the period, net of tax effect — — — Foreign currency translation adjustments, net of tax effect 6,851 — 6,851 OTHER COMPREHENSIVE INCOME 6,851 — 6,851 COMPREHENSIVE INCOME BEFORE NON-CONTROLLING INTERESTS $ 49,172 $ — $ 49,172 Less: Comprehensive loss attributable to non-controlling interest in subsidiary (53) — (53) COMPREHENSIVE INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS $ 49,225 $ — $ 49,225 For the three months ended December 31, 2020, the Company’s EPS as reported was 0.73 for basic and diluted EPS. Due to the items noted above, the Company’s EPS has been recast to 0.67, 0.06, and for basic and diluted EPS for continuing operations, discontinued operations, and 0.73, 0.72 for basic and diluted total EPS, respectively. Nine months ended December 31, 2021 As previously reported* Recast discontinued operations As recasted Revenue: Fee and commission income $ 327,966 $ (65,251) $ 262,715 Net gain on trading securities 185,554 9,716 195,270 Interest income 69,259 (9,920) 59,339 Net (loss)/gain on foreign exchange operations 885 2,888 3,773 Net loss on derivative (1,028) — (1,028) TOTAL REVENUE, NET 582,636 (62,567) 520,069 Expense: Fee and commission expense 67,547 (6,301) 61,246 Interest expense 51,256 (6,824) 44,432 Operating expense 117,384 (53,840) 63,544 Provision for impairment losses 704 (90) 614 Other expense, net 600 (120) 480 TOTAL EXPENSE 237,491 (67,175) 170,316 INCOME BEFORE INCOME TAX 345,145 4,608 349,753 Income tax expense (38,037) (943) (38,980) INCOME FROM CONTINUING OPERATIONS 307,108 3,665 310,773 Income/(loss) before income tax (expense)/benefit of discontinued operations — (4,609) (4,609) Income tax (expense)/benefit of discontinued operations — 953 953 Income/(loss) from discontinued operations — (3,656) (3,656) NET INCOME 307,108 9 307,117 Less: Net loss attributable to non-controlling interest in subsidiary (415) — (415) NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS $ 307,523 $ 9 $ 307,532 OTHER COMPREHENSIVE INCOME Reclassification adjustment for net realized gain on available-for-sale investments disposed of in the period, net of tax effect — — — Foreign currency translation adjustments, net of tax effect (3,106) 2,574 (532) OTHER COMPREHENSIVE INCOME/(LOSS) (3,106) 2,574 (532) COMPREHENSIVE INCOME BEFORE NON-CONTROLLING INTERESTS $ 304,002 $ 2,583 $ 306,585 Less: Comprehensive loss attributable to non-controlling interest in subsidiary (415) — (415) COMPREHENSIVE INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS 304,417 2,583 307,000 For the nine months ended December 31, 2021, the Company’s EPS as reported was 5.18 for basic and diluted EPS. Due to the items noted above, the Company’s EPS has been recast to 5.25, (0.06), and 5.18 for basic and diluted EPS for continuing operations, discontinued operations, and total EPS, respectively. Nine months ended December 31, 2020 As previously reported* Recast discontinued operations As recasted Revenue: Fee and commission income $ 169,590 $ (33,603) $ 135,987 Net gain on trading securities 36,330 (17,087) 19,243 Interest income 18,930 (7,168) 11,762 Net gain on foreign exchange operations 1,359 (1,217) 142 Net gain on derivative 149 (88) 61 TOTAL REVENUE, NET 226,358 (59,163) 167,195 Expense: Fee and commission expense 50,068 (4,297) 45,771 Interest expense 15,092 (6,290) 8,802 Operating expense 52,214 (29,978) 22,236 Provision for impairment losses 1,775 (202) 1,573 Other expense/(income), net 149 (206) (57) TOTAL EXPENSE 119,298 (40,973) 78,325 INCOME BEFORE INCOME TAX 107,060 (18,190) 88,870 Income tax expense (16,900) 5,202 (11,698) INCOME FROM CONTINUING OPERATIONS 90,160 (12,988) 77,172 Income before income tax expense of discontinued operations — 18,190 18,190 Income tax expense of discontinued operations — (5,202) (5,202) Income from discontinued operations — 12,988 12,988 NET INCOME 90,160 — 90,160 Less: Net income attributable to non-controlling interest in subsidiary 243 — 243 NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS $ 89,917 $ — $ 89,917 OTHER COMPREHENSIVE INCOME Reclassification adjustment for net realized gain on available-for-sale investments disposed of in the period, net of tax effect 71 — 71 Foreign currency translation adjustments, net of tax effect 4,565 — 4,565 OTHER COMPREHENSIVE INCOME 4,636 — 4,636 COMPREHENSIVE INCOME BEFORE NON-CONTROLLING INTERESTS $ 94,796 $ — $ 94,796 Less: Comprehensive income attributable to non-controlling interest in subsidiary 243 — 243 COMPREHENSIVE INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS $ 94,553 $ — $ 94,553 For the nine months ended December 31, 2020, the Company’s EPS as reported was 1.54 for both basic and diluted EPS. Due to the items noted above, the Company’s EPS has been recast to 1.32, 0.22, and 1.54 for both basic and diluted EPS for continuing operations, discontinued operations, and total EPS, respectively. *amounts with restatement in fee and commission income and interest income, for more information please see Note 4 Restatement.

RESTATEMENT (Tables)

RESTATEMENT (Tables)	3 Months Ended
	Dec. 31, 2021
Accounting Changes and Error Corrections [Abstract]
Schedule of Error Corrections and Prior Period Adjustments	The following tables summarize the impact of these corrections of errors for the nine months ended December 31, 2021, and 2020: For the nine months ended December 31, 2021 As previously reported Adjustments for discontinued operations As recasted Correction of errors As restated Net cash flows from operating activities $ (582,080) $ (34,465) $ (616,545) $ (21,090) $ (637,635) Net cash flows from investing activities (6,110) — (6,110) (34,709) (40,819) Net cash flows from financing activities 338,792 — 338,792 55,799 394,591 Effect of changes in foreign exchange rates on cash and cash equivalents 10,593 (1,998) 8,595 — 8,595 NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH $ (238,805) $ (36,463) $ (275,268) $ — $ (275,268) For the nine months ended December 31, 2020 As previously reported Adjustments for discontinued operations As recasted Correction of errors As restated Net cash flows from operating activities $ 698,954 $ 41,110 $ 740,064 $ (135,487) $ 604,577 Net cash flows from investing activities 98,418 739 99,157 122 99,279 Net cash flows from financing activities 61,952 (576) 61,376 135,365 196,741 Effect of changes in foreign exchange rates on cash and cash equivalents 3,787 — 3,787 — 3,787 NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH $ 863,111 $ 41,273 $ 904,384 $ — $ 904,384 tables summarize the impact of corrections of the errors on the Condensed Consolidated Statements of Operations and Other Comprehensive Income for the periods presented: For the three months ended December 31, 2021 As previously reported Adjustments for discontinued operations As restated Correction of errors As restated Fee and commission income $ 122,237 $ (25,905) $ 96,332 $ (4,921) 91,411 Net gain on trading securities 403 6,611 7,014 — 7,014 Interest income 22,907 (3,029) 19,878 4,921 24,799 Net gain on foreign exchange operations 451 655 1,106 — 1,106 Net loss on derivative (314) — (314) — (314) TOTAL REVENUE, NET $ 145,684 $ (21,668) $ 124,016 $ — $ 124,016 For the three months ended December 31, 2020 As previously reported Adjustments for discontinued operations As restated Correction of errors As restated Fee and commission income $ 74,333 $ (14,385) $ 59,948 $ (1,849) 58,099 Net gain on trading securities 18,944 (4,972) 13,972 — 13,972 Interest income 7,374 (3,999) 3,375 1,849 5,224 Net gain on foreign exchange operations (1,413) 1,516 103 — 103 Net loss on derivative 995 (49) 946 — 946 TOTAL REVENUE, NET $ 100,233 $ (21,889) $ 78,344 $ — $ 78,344 For the nine months ended December 31, 2021 As previously reported Adjustments for discontinued operations As restated Correction of errors As restated Fee and commission income $ 336,178 $ (65,251) $ 270,927 $ (8,212) 262,715 Net gain on trading securities 185,554 9,716 195,270 — 195,270 Interest income 61,047 (9,920) 51,127 8,212 59,339 Net gain on foreign exchange operations 885 2,888 3,773 — 3,773 Net loss on derivative (1,028) — (1,028) — (1,028) TOTAL REVENUE, NET $ 582,636 $ (62,567) $ 520,069 $ — $ 520,069 For the nine months ended December 31, 2020 As previously reported Adjustments for discontinued operations As restated Correction of errors As restated Fee and commission income $ 171,949 $ (33,603) $ 138,346 $ (2,359) 135,987 Net gain on trading securities 36,330 (17,087) 19,243 — 19,243 Interest income 16,571 (7,168) 9,403 2,359 11,762 Net gain on foreign exchange operations 1,359 (1,217) 142 — 142 Net loss on derivative 149 (88) 61 — 61 TOTAL REVENUE, NET $ 226,358 $ (59,163) $ 167,195 $ — $ 167,195

CASH AND CASH EQUIVALENTS (Tabl

CASH AND CASH EQUIVALENTS (Tables)	3 Months Ended
	Dec. 31, 2021
Cash and Cash Equivalents [Abstract]
Schedule of cash and cash equivalents	As of December 31, 2021, and March 31, 2021, cash and cash equivalents consisted of the following: December 31, 2021 March 31, 2021 (Recast) (Recast) Current account with National Bank (Kazakhstan) $ 55,816 $ 36,726 Current accounts with commercial banks 39,076 61,203 Current accounts with brokers 27,582 37,324 Securities purchased under reverse repurchase agreements 13,826 11,917 Petty cash in bank vault and on hand 7,051 14,916 Accounts with stock exchanges 2,254 5,873 Current account with Central Depository (Kazakhstan) 753 58 Total cash and cash equivalents $ 146,358 $ 168,017
Schedule of repurchase agreements	As of December 31, 2021, and March 31, 2021, the cash and cash equivalents balance included collateralized securities received under reverse repurchase agreements on the terms presented below: December 31, 2021 (Recast) Interest rates and remaining contractual maturity of the agreements Average interest rate Up to 30 days 30-90 days Total Securities purchased under reverse repurchase agreements US sovereign debt 0.35 % $ 7,773 $ — $ 7,773 Non-US sovereign debt 0.51 % 5,811 — 5,811 Corporate equity 14.62 % 242 — 242 Corporate debt — % — — — Total securities sold under repurchase agreements $ 13,826 $ — $ 13,826 March 31, 2021 (Recast) Interest rates and remaining contractual maturity of the agreements Average interest rate Up to 30 days 30-90 days Total Securities purchased under reverse repurchase agreements Corporate debt 10.15 % $ 8,460 $ — $ 8,460 US sovereign debt 0.88 % 1,785 — 1,785 Corporate equity 0.50 % 1,562 — 1,562 Non-US sovereign debt 13.09 % 110 — 110 Total securities sold under repurchase agreements $ 11,917 $ — $ 11,917

RESTRICTED CASH (Tables)

RESTRICTED CASH (Tables)	3 Months Ended
	Dec. 31, 2021
Restricted Cash [Abstract]
Schedule of restrictions on cash	Restricted cash for the periods ended December 31, 2021, and March 31, 2021, consisted of: December 31, 2021 March 31, 2021 (Recast) (Recast) Brokerage customers’ cash $ 408,175 $ 482,135 Deferred distribution payments 8,534 8,535 Guaranty deposits 34 21 Total restricted cash $ 416,743 $ 490,691

TRADING AND AVAILABLE-FOR-SAL_2

TRADING AND AVAILABLE-FOR-SALE SECURITIES AT FAIR VALUE (Tables)	3 Months Ended
	Dec. 31, 2021
Debt Securities, Trading, and Equity Securities, FV-NI [Abstract]
Schedule of trading and available-for-sale securities	As of December 31, 2021, and March 31, 2021, trading and available-for-sale securities consisted of: December 31, 2021 March 31, 2021 (Recast) (Recast) Corporate debt $ 513,671 $ 301,898 Non-US sovereign debt 395,667 239,630 Corporate equity 22,149 39,280 Exchange traded notes 9,386 2,077 US sovereign debt 6,960 4,661 Total trading securities $ 947,833 $ 587,546 Equity securities $ 1 $ 1 Total available-for-sale securities, at fair value $ 1 $ 1
Schedule of present securities assets at fair value	The following tables present securities assets in the Condensed Consolidated Financial Statements or disclosed in the Notes to the Condensed Consolidated Financial Statements at fair value on a recurring basis as of December 31, 2021, and March 31, 2021: Weighted Average Total Fair Value Measurements at December 31, 2021 using (Recast) Quoted Prices in Significant Significant Unobservable (Level 1) (Level 2) (Level 3) Corporate debt 8.80 % $ 513,671 $ 512,887 $ 415 $ 369 Non-U.S. sovereign debt 9.35 % 395,667 393,124 1,593 950 Corporate equity — 22,149 21,151 553 445 Exchange traded notes — 9,386 9,386 — — U.S. sovereign debt 2 % 6,960 6,960 — — Total trading securities $ 947,833 $ 943,508 $ 2,561 $ 1,764 Equity securities — $ 1 $ — $ — $ 1 Total available-for-sale securities, at fair value $ 1 $ — $ — $ 1 Weighted Average Interest Rate Total Fair Value Measurements at March 31, 2021 using (Recast) Quoted Prices in Significant Significant Unobservable (Level 1) (Level 2) (Level 3) Non-U.S. sovereign debt 8.06 % $ 239,630 $ 239,630 $ — $ — Exchange traded notes — 2,077 2,077 — — Corporate debt 9.22 % 301,898 301,538 — 360 Corporate equity — 39,280 20,607 — 18,673 U.S. sovereign debt 1.68 % 4,661 4,661 — — Total trading securities $ 587,546 $ 568,513 $ — $ 19,033 Equity securities — $ 1 $ — $ — $ 1 Total available-for-sale securities, at fair value $ 1 $ — $ — $ 1
Schedule of valuation techniques and significant level 3 inputs	The table below presents the valuation techniques and significant level 3 inputs used in the valuation as of December 31, 2021, and March 31, 2021. The table is not intended to be all inclusive, but instead captures the significant unobservable inputs relevant to determination of fair value. Type Valuation Technique FV as of December 31, 2021 FV as of March 31, 2021 Significant Unobservable Inputs % (Recast) (Recast) Non-US sovereign debt DCF $ 949 $ — Discount rate 13.8% Estimated number of years 1 year Corporate equity DCF $ 446 $ 302 Discount rate 18.5% Estimated number of years 9 years Corporate debt DCF $ 369 $ 360 Discount rate 16.5% Estimated number of years 9 years Corporate equity DCF $ — $ 18,371 Discount rate 10.6% Estimated number of years 9 years Total $ 1,764 $ 19,033 As of December 31, 2021, shares of SPBX held by the Company were transferred from level 3 to level 1, due to active trades on the market. During the nine months ended December 31, 2021, market trades of SPBX shares were executed in the market, and market data for these shares became available. The following table provides a reconciliation of the beginning and ending balances for investments that use Level 3 inputs for the nine months ended December 31, 2021, and the year ended March 31, 2021: Trading Available-for-sale securities Balance as of March 31, 2021 (Recast) $ 19,033 $ 1 Reclassification to level 1 (18,408) — Redemption of securities that use Level 3 inputs (1,030) — Purchase of investments that use Level 3 inputs 2,059 — Revaluation of investments that use Level 3 inputs 110 — Balance as of December 31, 2021 (Recast) 1,764 1 Balance as of March 31, 2020 (Recast) $ 11,259 $ 1 Sale of investments that use Level 3 inputs (2) — Purchase of investments that use Level 3 inputs 739 — Revaluation of investments that use Level 3 inputs 7,037 — Balance as of March 31, 2021 (Recast) $ 19,033 $ 1
Schedule of amortized cost, unrealized gains and losses accumulated in other comprehensive income, and fair value of available-for-sale securities	The table below presents the amortized cost, unrealized gains and losses accumulated in other comprehensive income, and fair value of available-for-sale securities as of December 31, 2021, and March 31, 2021: December 31, 2021 (Recast) Assets measured at amortized Unrealized loss accumulated in Assets Equity securities $ 1 $ — $ 1 Balance as of December 31, 2021 $ 1 $ — $ 1 March 31, 2021 (Recast) Assets measured Unrealized loss accumulated in Assets Equity securities $ 1 $ — $ 1 Balance as of March 31, 2021 $ 1 $ — $ 1

BROKERAGE AND OTHER RECEIVABL_2

BROKERAGE AND OTHER RECEIVABLES, NET (Tables)	3 Months Ended
	Dec. 31, 2021
Receivables [Abstract]
Schedule of brokerage and other receivables	Brokerage and other receivables as of December 31, 2021, and March 31, 2021, consisted of: December 31, 2021 March 31, 2021 (Recast) (Recast) Margin lending receivables $ 186,373 $ 43,138 Receivables from brokerage clients 3,637 3,896 Long-term installments receivables 1,208 1,280 Receivable from sale of securities 1,050 484 Receivable for underwriting and market-making services 812 564 Bank commissions receivable 337 697 Dividends accrued 120 1,392 Bonds coupon receivable — — Other receivables 2,380 48 Allowance for receivables (1,759) (1,981) Total brokerage and other receivables, net $ 194,158 $ 49,518

LOAN ISSUED (Tables)

LOAN ISSUED (Tables)	3 Months Ended	9 Months Ended
	Dec. 31, 2021	Dec. 31, 2021
Loans and Leases Receivable Disclosure [Abstract]
Schedule of loans issued	Loans issued as of December 31, 2021, consisted of the following: Amount Outstanding Due Dates Average Interest Rate Fair Value of Collateral Loan Currency Mortgage loan $ 19,874 February 2023 - September 2036 15.19 % $ 19,846 KZT Uncollateralized bank customer loans 16,075 January 2022 - December 2036 18.22 % — KZT Subordinated loan 5,132 December 2022-April 2024 4.89 % — USD Subordinated loan 1,358 September 2029 7.00 % — UAH $ 42,439	Loans issued as of March 31, 2021, consisted of the following: Amount Outstanding Due Dates Average Interest Rate Fair Value of Collateral Loan Currency Subordinated loan $ 5,033 December 2022-April 2024 3.69 % $ — USD Uncollateralized non-bank loan 2,382 January 2022 – February 2022 3.00 % — USD Subordinated loan 1,331 September 2029 7.00 % — UAH Bank customer loans 880 March 2024 15.41 % 729 KZT $ 9,626

DEFERRED TAX LIABILITIES ASSETS

DEFERRED TAX LIABILITIES ASSETS (Tables)	9 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Schedule of deferred tax assets and liabilities	Deferred tax assets and liabilities of the Company are comprised of the following: December 31, 2021 March 31, 2021 (Recast) (Recast) Deferred tax assets: Tax losses carryforward $ 305 $ 316 Accrued liabilities 97 109 Depreciation 16 16 Revaluation on trading securities — — Valuation allowance (305) (316) Deferred tax assets $ 113 $ 125 Deferred tax liabilities: Revaluation on trading securities $ 978 $ 2,041 Fixed and intangible assets 621 1,568 Subordinated debt — 523 Deferred tax liabilities $ 1,599 $ 4,132 Net deferred tax liabilities $ (1,486) $ (4,007)

SECURITIES REPURCHASE AGREEME_2

SECURITIES REPURCHASE AGREEMENT OBLIGATIONS (Tables)	9 Months Ended
	Dec. 31, 2021
Securities Sold under Agreements to Repurchase [Abstract]
Schedule of securities under repurchase agreement obligations	As of December 31, 2021, and March 31, 2021, trading securities included collateralized securities subject to repurchase agreements as described in the following table: December 31, 2021 (Recast) Interest rates and remaining contractual maturity of the agreements Average interest rate Up to 30 days 30-90 days Total Securities sold under repurchase agreements Corporate debt 10.30 % $ 314,217 $ — $ 314,217 Non-U.S. sovereign debt 10.51 % 308,878 — 308,878 US sovereign debt 0.36 % 4,398 — 4,398 Corporate equity — % — — — Total $ 627,493 $ — $ 627,493 March 31, 2021 (Recast) Interest rate and remaining contractual maturity of the agreements Average interest rate Up to 30 days 30-90 days Total Securities sold under repurchase agreements Non-US sovereign debt 9.28 % $ 229,122 $ — $ 229,122 Corporate debt 9.27 % 138,029 — 138,029 Corporate equity 3.78 % 5,757 — 5,757 US sovereign debt 0.40 % 1,810 — 1,810 Total securities sold under repurchase agreements $ 374,718 $ — $ 374,718

CUSTOMER LIABILITIES (Tables)

CUSTOMER LIABILITIES (Tables)	9 Months Ended
	Dec. 31, 2021
Contract with Customer, Liability [Abstract]
Schedule of customer liabilities	The Company recognizes customer liabilities associated with funds held by our brokerage and bank customers. Customer liabilities consist of: December 31, 2021 March 31, 2021 (Recast) (Recast) Brokerage customers $ 360,652 $ 547,349 Banking customers 192,363 124,476 Total $ 553,015 $ 671,825

TRADE PAYABLES (Tables)

TRADE PAYABLES (Tables)	9 Months Ended
	Dec. 31, 2021
Accounts Payable [Abstract]
Schedule of trade payables	Trade payables of the Company is comprised of the following: December 31, 2021 March 31, 2021 (Recast) (Recast) Margin lending payable $ 45,990 $ 20,120 Payables to suppliers of goods and services 3,666 1,383 Trade payable for securities purchased 516 292 Other 203 207 Total $ 50,375 $ 22,002

LOANS RECEIVED (Tables)

LOANS RECEIVED (Tables)	3 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
Schedule of loans received	Loans received by the Company includes: Company Lender December 31, 2021 March 31, 2021 Interest Rate Term Maturity dates (Recast) (Recast) Freedom Holding Corp. Non-Bank $ 3,497 $ 3,373 5.00 % 26 months 12/31/22 Total $ 3,497 $ 3,373

DEBT SECURITIES ISSUED (Tables)

DEBT SECURITIES ISSUED (Tables)	9 Months Ended
	Dec. 31, 2021
Debt Securities [Abstract]
Schedule of outstanding debt securities of the company	Outstanding debt securities of the Company include the following: December 31, 2021 March 31, 2021 (Recast) (Recast) Debt securities issued denominated in USD $ 33,498 $ 30,700 Accrued interest 149 649 Total $ 33,647 $ 31,349

NET GAIN ON TRADING SECURITIES

NET GAIN ON TRADING SECURITIES (Tables)	3 Months Ended
	Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Schedule of net gain on trading securities	Net gain on trading securities is comprised of: Three Months Ended Three Months Ended (Recast) (Recast) Net gain recognized during the period on trading securities sold during the period $ 41,386 $ 6,571 Net unrealized (loss)/gain recognized during the reporting period on trading securities still held at the reporting date (34,372) 7,401 Net gain recognized during the period on trading securities $ 7,014 $ 13,972 Nine Months Ended Nine Months Ended (Recast) (Recast) Net gain recognized during the period on trading securities sold during the period $ 189,783 $ 13,563 Net unrealized (loss)/gain recognized during the reporting period on trading securities still held at the reporting date 5,487 5,680 Net gain recognized during the period on trading securities $ 195,270 $ 19,243

ASSETS AND LIABILITIES HELD F_2

ASSETS AND LIABILITIES HELD FOR SALE (Tables)	3 Months Ended
	Dec. 31, 2021
Discontinued Operations and Disposal Groups [Abstract]
Schedule of net gain on foreign exchange operations	As of December 31, 2021, and March 31, 2021, the major classes of assets and liabilities from discontinued operations included the following: December 31, 2021 March 31, 2021 Cash and cash equivalents $ 346,996 $ 531,791 Restricted cash 32,728 27,594 Trading securities 400,823 148,642 Brokerage and other receivables, net 108,245 15,575 Loans issued 2,557 2,041 Other assets 28,243 22,405 Total assets held for sale $ 919,592 $ 748,048 Customer liabilities $ 636,898 $ 573,181 Debt securities issued 71,716 37,095 Securities repurchase agreement obligations 82,791 51,997 Other liabilities 18,322 14,295 Total liabilities held for sale $ 809,727 $ 676,568 The results of operations for discontinued operations for the three and nine months ended December 31, 2021 and 2020, consist of the following: Three months ended December 31, Nine Months Ended 2021 2020 2021 2020 Fee and commission income $ 23,147 $ 13,571 $ 59,596 $ 30,810 Net (loss)/gain on trading securities (6,611) 4,972 (9,716) 17,087 Interest income 5,786 4,813 15,574 9,961 Net gain/(loss) on foreign exchange operations (655) (1,516) (2,889) 1,217 Net gain/(loss) on derivative — 49 — 88 Total revenue 21,667 21,889 62,565 59,163 Fee and commission expense 2,075 1,983 6,300 4,298 Interest expense 2,365 3,426 6,824 6,289 Operating expense 22,253 11,583 53,841 29,979 Provision for impairment losses 13 156 89 200 Other (income)/expense, net 28 230 120 207 Total expense 26,734 17,378 67,174 40,973 Profit before income tax $ (5,067) $ 4,511 $ (4,609) $ 18,190 The net cash flows from/(used in) operating and investing activities from discontinued operations for the nine months ended December 31, 2021 and 2020, consist of the following: Nine Months Ended 2021 2020 Cash Flows (Used In)/From Operating Activities Net income from discontinued operations $ (3,656) $ 12,988 Adjustments to reconcile net income from operating activities: Depreciation and amortization 1,637 439 Noncash lease expense 3,785 2,847 Impairment of Freedom Bank RU goodwill — — Impairment of Zerich goodwill — — Loss on sale of fixed assets — — Client base write-off — — Change in deferred taxes (1,892) 1,406 Stock compensation expense 5,647 1,033 Unrealized (gain)/loss on trading securities 9,082 (1,988) Net change in accrued interest 1,436 567 Allowances/(recovery) for receivables 89 203 Changes in operating assets and liabilities: Trading securities (262,438) (81,345) Brokerage and other receivables (93,717) 5,444 Other assets (1,948) (1,792) Securities sold, not yet purchased – at fair value (24) — Customer liabilities 121,173 217,034 Current income tax liability (623) 990 Trade payables 319 219 Lease liabilities (3,947) (2,988) Other liabilities 2,176 1,426 Net cash flows (used in)/from operating activities from discontinued operations (222,901) 156,483 Cash Flows (Used In)/From Investing Activities Purchase of fixed assets (2,918) (985) Proceeds from sale of fixed assets 699 — Purchase of intangible assets — — Loans issued (571) (117) Net cash flows (used in)/from investing activities from discontinued operations $ (2,790) $ (1,102)

STOCK BASED COMPENSATION (Table

STOCK BASED COMPENSATION (Tables)	3 Months Ended	9 Months Ended
	Dec. 31, 2021	Dec. 31, 2021
Share-based Payment Arrangement, Noncash Expense [Abstract]
Schedule of fair value of restricted shares awarded using the monte carlo valuation model		The Company has determined the fair value of restricted shares awarded during the nine months ended December 31, 2021 using the Monte Carlo valuation model based on the following key assumptions: Term (years) 5 Volatility 41.5 % Risk-free rate 0.06 %
Schedule of the activity of the company's restricted stock outstanding		The table below summarizes the activity for the Company’s restricted stock outstanding during the nine months ended December 31, 2021: Shares Weighted Outstanding, at March 31, 2021 15,000 $ 775 Granted 1,031,500 39,465 Vested — — Forfeited/cancelled/expired — — Outstanding, at December 31, 2021 1,046,500 $ 40,240
Schedule of stock options using the black scholes option	The Company has determined the fair value of such stock options using the Black-Scholes option valuation model based on the following key assumptions: Term (years) 3 Volatility 165.33 % Risk-free rate 1.66 %
Schedule of stock option activity		The following is a summary of stock option activity for the nine months ended December 31, 2021: Shares Weighted Average Exercise Price Weighted Aggregate Outstanding, March 31, 2021 60,000 $ 1.98 6.52 $ 3,083,000 Granted — — — — Exercised (60,000) 1.98 6.52 3,742,000 Forfeited/cancelled/expired — — — — Outstanding, at December 31, 2021 — $ — 0 $ — Exercisable, at December 31, 2021 — $ — 0 $ —

LEASES (Tables)

LEASES (Tables)	9 Months Ended
	Dec. 31, 2021
Leases [Abstract]
Summary of operating lease right of use assets, and liabilities	The table below presents the lease related assets and liabilities recorded on the Company’s consolidated balance sheets as of December 31, 2021: Classification on Balance Sheet December 31, 2021 Assets Operating lease assets Right-of-use assets $ 6,926 Total lease assets $ 6,926 Liabilities Operating lease liability Operating lease obligations $ 7,031 Total lease liability $ 7,031
Disclosure of lease operations	Lease obligations at December 31, 2021, consisted of the following: Twelve months ending March 31, 2022 $ 990 2023 3,578 2024 1,430 2025 1,070 2026 1,006 Thereafter 182 Total payments 8,256 Less: amounts representing interest (1,225) Lease liability, net $ 7,031 Weighted average remaining lease term (in months) 22 Weighted average discount rate 12 %

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	3 Months Ended
	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Schedule of bank guarantees	Total lending related commitments outstanding at December 31, 2021, were as follows: December 31, 2021 March 31, 2021 Bank guarantees $ 5,232 $ 6,594 Unfunded commitments under lines of credits and guarantees 10,142 182 $ 15,374 $ 6,776

SEGMENT REPORTING (Tables)

SEGMENT REPORTING (Tables)	9 Months Ended
	Dec. 31, 2021
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	The following tables summarize the Company's Statement of Operations and Statements of Other Comprehensive Income by its geographic segments. Intercompany balances were eliminated for separate disclosure: Three months ended December 31, 2021 (Restated) STATEMENTS OF OPERATIONS Central Asia Europe U.S. Middle East/Caucasus Total Fee and commission income (1) $ 6,993 $ 83,162 $ 1,256 — 91,411 Net gain on trading securities 6,432 481 101 — 7,014 Interest income 19,845 4,940 14 — 24,799 Net gain/(loss) on foreign exchange operations 1,747 (437) (209) 5 1,106 Net (loss)/ gain on derivative (314) — (314) TOTAL REVENUE, NET 34,703 88,146 1,162 5 124,016 Fee and commission expense 2,381 18,106 153 — 20,640 Interest expense 14,097 3,919 418 — 18,434 Operating expense / (income) 11,909 10,517 5,903 (86) 28,243 Provision for impairment losses — — 32 — 32 Other income /(expense) , net (83) (13) 2 (94) TOTAL EXPENSE 28,304 32,529 6,506 (84) 67,255 NET INCOME BEFORE INCOME TAX $ 6,399 $ 55,617 $ (5,344) 89 $ 56,761 Income tax expense 1,294 (7,176) 4,114 — (1,768) NET PROFIT/(LOSS) $ 7,693 $ 48,441 $ (1,230) 89 $ 54,993 Nine months ended December 31, 2021 (Restated) STATEMENTS OF OPERATIONS Central Asia Europe U.S. Middle East/Caucasus Total Fee and commission income (1) $ 18,258 $ 241,066 $ 3,391 — 262,715 Net gain/(loss) on trading securities 16,102 179,473 (305) — 195,270 Interest income 51,250 8,015 74 — 59,339 Net gain/(loss) on foreign exchange operations 4,472 (497) (207) 5 3,773 Net (loss)/ gain on derivative (1,028) — — — (1,028) TOTAL REVENUE, NET 89,054 428,057 2,953 5 520,069 Fee and commission expense 3,797 56,946 503 — 61,246 Interest expense 35,891 7,422 1,119 — 44,432 Operating expense 29,099 20,089 14,275 81 63,544 Provision for impairment losses 571 11 32 — 614 Other income/(expense), net 503 (21) — (2) 480 TOTAL EXPENSE 69,861 84,447 15,929 79 170,316 NET INCOME BEFORE INCOME TAX 19,193 343,610 (12,976) (74) 349,753 Income tax (expense)/ benefit 1,324 (21,190) (19,114) — (38,980) NET PROFIT/(LOSS) 20,517 322,420 (32,090) (74) 310,773 Three months ended December 31, 2020 (Restated) STATEMENTS OF OPERATIONS Central Asia Europe U.S. Total Fee and commission income 3,445 54,629 25 58,099 Net gain on trading securities 6,768 28 7,176 13,972 Interest income 2,980 2,031 213 5,224 Net gain/(loss) on foreign exchange operations 295 88 (280) 103 Net (loss)/ gain on derivative 946 — — 946 14,434 56,776 7,134 78,344 TOTAL REVENUE, NET Fee and commission expense 332 17,874 89 18,295 Interest expense 1,603 1,096 524 3,223 Operating expense 4,776 4,070 1,492 10,338 Provision for impairment losses 952 — — 952 Other income/ (expense), net 16 (1) — 15 TOTAL EXPENSE 7,679 23,039 2,105 32,823 NET INCOME BEFORE INCOME TAX 6,755 33,737 5,029 45,521 Income tax (expense)/benefit (3) (3,548) (3,048) (6,599) NET PROFIT/(LOSS) 6,752 30,189 1,981 38,922 Nine months ended December 31, 2020 (Restated) STATEMENTS OF OPERATIONS Central Asia Europe U.S. Total Fee and commission income 11,754 124,208 25 135,987 Net gain on trading securities 12,117 87 7,039 19,243 Interest income 8,379 2,731 652 11,762 Net gain/(loss) on foreign exchange operations 605 (238) (225) 142 Net (loss)/ gain on derivative 61 — — 61 TOTAL REVENUE, NET 32,916 126,788 7,491 167,195 Fee and commission expense 618 44,927 226 45,771 Interest expense 5,020 2,018 1,764 8,802 Operating expense 12,640 6,671 2,925 22,236 Provision for impairment losses 770 404 399 1,573 Other income/(expense), net (41) (16) — (57) TOTAL EXPENSE 19,007 54,004 5,314 78,325 NET INCOME BEFORE INCOME TAX 13,909 72,784 2,177 88,870 Income tax (expense)/benefit (6) (7,381) (4,311) (11,698) NET PROFIT/(LOSS) 13,903 65,403 (2,134) 77,172 (1) All trading of U.S. and European exchange traded and OTC securities by all of the Company's securities brokerage firms, excluding PrimeEx, are routed to and executed through Freedom EU and all fee and commission income for those transactions is recognized at Freedom EU. The following tables summarize the Company's total asset and total liabilities by its geographic segments. Intercompany balances were eliminated for separate disclosure: December 31, 2021 (Restated) Central Asia Europe U.S. Middle East/Caucasus Held for Sale Total Total assets 1,157,484 622,309 27,219 387 919,592 2,726,991 Total liabilities 905,796 344,521 75,279 178 809,727 2,135,501 Net assets $ 251,688 $ 277,788 $ (48,060) $ 209 $ 109,865 $ 591,490 March 31, 2021 (Restated) Central Asia Europe U.S. Middle East/Caucasus Held for Sale Total Total assets 714,380 591,072 46,682 140 748,048 2,100,322 Total liabilities 557,747 530,227 60,117 3 676,568 1,824,662 Net assets $ 156,633 $ 60,845 $ (13,435) $ 137 $ 71,480 $ 275,660

DESCRIPTION OF BUSINESS (Detail

DESCRIPTION OF BUSINESS (Details)	1 Months Ended	9 Months Ended
	Jul. 31, 2021	Dec. 31, 2021	Apr. 30, 2019
Related Party Transaction [Line Items]
Ownership interest sold during the period	23.88%
Percent of net profits of Freedom UA after tax company is entitled to receive (in percent)			90%
LLC Freedom Finance Ukraine
Related Party Transaction [Line Items]
Ownership percentage, non-controlling interest	32.90%	9%
Ownership percentage, controlling interest		91%
Ownership interest sold during the period		23.90%
UX
Related Party Transaction [Line Items]
Ownership percentage, non-controlling interest		24.30%

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details) $ in Thousands	9 Months Ended
	Dec. 31, 2021 USD ($) portfolio_segment	Mar. 31, 2021 USD ($)
Property, Plant and Equipment [Line Items]
Loan portfolio, number of portfolio segments | portfolio_segment	3
Accumulated goodwill impairment	$ 7,840	$ 7,868
Goodwill	$ 7,840	$ 7,137
Minimum
Property, Plant and Equipment [Line Items]
Useful lives of assets	3 years
Maximum
Property, Plant and Equipment [Line Items]
Useful lives of assets	7 years

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of changes in the carrying amount of goodwill (Details) $ in Thousands	9 Months Ended
	Dec. 31, 2021 USD ($)
Goodwill [Roll Forward]
Balance as of March 31, 2021	$ 7,137
Foreign currency translation	703
Balance as of December 31, 2021	$ 7,840

RECAST - BALANCE SHEETS (Detail

RECAST - BALANCE SHEETS (Details) - USD ($) $ / shares in Units, $ in Thousands	Dec. 31, 2021	Sep. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Mar. 31, 2020
ASSETS
Cash and cash equivalents	$ 146,358		$ 168,017
Trading securities	947,833		587,546
Restricted cash	416,743		490,691
Brokerage and other receivables, net	194,158		49,518
Loans issued	42,439		9,626
Other assets	24,030		15,639
Fixed assets, net	17,399		15,571
Right-of-use asset	6,926		4,626
Intangible assets, net	3,672		3,902
Goodwill	7,840		7,137
Available-for-sale securities, at fair value	1		1
Assets held for sale	919,592		748,048	$ 748,048
TOTAL ASSETS	2,726,991		2,100,322
LIABILITIES AND SHAREHOLDERS’ EQUITY
Securities repurchase agreement obligations	627,493		374,718
Customer liabilities	553,015		671,825
Trade payables	50,375		22,002
Current income tax liability	20,579		14,199
Securities sold, not yet purchased – at fair value	15,167		8,569
Loans received	3,497		3,373
Debt securities issued	33,647		31,349
Lease liability	7,031		4,811
Deferred income tax liabilities	1,486		4,007
Deferred distribution payments	8,534		8,534
Liabilities held for sale	809,727		676,568	$ 676,568
Other liabilities	4,950		4,707
TOTAL LIABILITIES	2,135,501		1,824,662
Commitments and contingent liabilities	0		0
SHAREHOLDERS’ EQUITY
Preferred stock - $0.001 par value; 20,000,000 shares authorized, no shares issued or outstanding	$ 0		0
Preferred stock, par value (in dollars per share)	$ 0.001			$ 0.001
Preferred stock, authorized (in shares)	20,000,000			20,000,000
Preferred stock, issued (in shares)	0			0
Preferred stock, outstanding (in shares)	0			0
Common stock - $0.001 par value; 500,000,000 shares authorized;	$ 59		$ 58
Common stock, par value (in dollars per share)	$ 0.001		$ 0.001
Common stock, authorized (in shares)	500,000,000		500,000,000
Additional paid in capital	$ 115,278		$ 104,672
Retained earnings	516,149		208,617
Accumulated other comprehensive loss	(39,152)		(36,046)
TOTAL EQUITY ATTRIBUTABLE TO THE COMPANY	592,334		277,301
Non-controlling interest	(844)		(1,641)
TOTAL SHAREHOLDERS’ EQUITY	591,490	$ 543,377	275,660	$ 225,558	$ 175,716	$ 129,037
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	2,726,991		2,100,322
As previously reported
ASSETS
Cash and cash equivalents	493,263		698,828
Trading securities	1,348,656		736,188
Restricted cash	404,718		437,958
Brokerage and other receivables, net	302,403		64,801
Loans issued	44,995		11,667
Other assets	30,321		19,902
Fixed assets, net	21,221		18,385
Right-of-use asset	17,830		13,262
Intangible assets, net	8,703		9,785
Goodwill	7,840		7,868
Available-for-sale securities, at fair value	1		1
Assets held for sale	0		0
TOTAL ASSETS	2,679,951		2,018,645
LIABILITIES AND SHAREHOLDERS’ EQUITY
Securities repurchase agreement obligations	710,284		426,715
Customer liabilities	1,145,070		1,163,697
Trade payables	51,031		22,304
Current income tax liability	20,620		14,843
Securities sold, not yet purchased – at fair value	15,167		8,592
Loans received	3,497		3,373
Debt securities issued	105,363		68,443
Lease liability	17,573		13,249
Deferred income tax liabilities	1		4,385
Deferred distribution payments	8,534		8,534
Liabilities held for sale	0		0
Other liabilities	11,321		8,850
TOTAL LIABILITIES	2,088,461		1,742,985
Commitments and contingent liabilities	0		0
SHAREHOLDERS’ EQUITY
Preferred stock - $0.001 par value; 20,000,000 shares authorized, no shares issued or outstanding	0		0
Common stock - $0.001 par value; 500,000,000 shares authorized;	59		58
Additional paid in capital	115,278		104,672
Retained earnings	516,149		208,617
Accumulated other comprehensive loss	(39,152)		(36,046)
TOTAL EQUITY ATTRIBUTABLE TO THE COMPANY	592,334		277,301
Non-controlling interest	(844)		(1,641)
TOTAL SHAREHOLDERS’ EQUITY	591,490		275,660
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	2,679,951		2,018,645
Recast discontinued operations
ASSETS
Cash and cash equivalents	(346,905)		(530,811)
Trading securities	(400,823)		(148,642)
Restricted cash	12,025		52,733
Brokerage and other receivables, net	(108,245)		(15,283)
Loans issued	(2,556)		(2,041)
Other assets	(6,291)		(4,263)
Fixed assets, net	(3,822)		(2,814)
Right-of-use asset	(10,904)		(8,636)
Intangible assets, net	(5,031)		(5,883)
Goodwill	0		(731)
Available-for-sale securities, at fair value	0		0
Assets held for sale	919,592		748,048
TOTAL ASSETS	47,040		81,677
LIABILITIES AND SHAREHOLDERS’ EQUITY
Securities repurchase agreement obligations	(82,791)		(51,997)
Customer liabilities	(592,055)		(491,872)
Trade payables	(656)		(302)
Current income tax liability	(41)		(644)
Securities sold, not yet purchased – at fair value	0		(23)
Loans received	0		0
Debt securities issued	(71,716)		(37,094)
Lease liability	(10,542)		(8,438)
Deferred income tax liabilities	1,485		(378)
Deferred distribution payments	0		0
Liabilities held for sale	809,727		676,568
Other liabilities	(6,371)		(4,143)
TOTAL LIABILITIES	47,040		81,677
Commitments and contingent liabilities	0		0
SHAREHOLDERS’ EQUITY
Preferred stock - $0.001 par value; 20,000,000 shares authorized, no shares issued or outstanding	0		0
Common stock - $0.001 par value; 500,000,000 shares authorized;	0		0
Additional paid in capital	0		0
Retained earnings	0		0
Accumulated other comprehensive loss	0		0
TOTAL EQUITY ATTRIBUTABLE TO THE COMPANY	0		0
Non-controlling interest	0		0
TOTAL SHAREHOLDERS’ EQUITY	0		0
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$ 47,040		81,677
Recasted
SHAREHOLDERS’ EQUITY
Retained earnings			208,617
TOTAL EQUITY ATTRIBUTABLE TO THE COMPANY			277,301
TOTAL SHAREHOLDERS’ EQUITY			275,660
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY			$ 2,100,322

RECAST - STATEMENTS OF OPERATIO

RECAST - STATEMENTS OF OPERATIONS AND STATEMENTS OF OTHER COMPREHENSIVE INCOME (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Revenue:
Fee and commission income	$ 91,411	$ 58,099	$ 262,715	$ 135,987
Net gain on trading securities	7,014	13,972	195,270	19,243
Interest income	24,799	5,224	59,339	11,762
Net (loss)/gain on foreign exchange operations	1,106	103	3,773	142
Net loss on derivative	(314)	946	(1,028)	61
TOTAL REVENUE, NET	124,016	78,344	520,069	167,195
Expense:
Fee and commission expense	20,640	18,295	61,246	45,771
Interest expense	18,434	3,223	44,432	8,802
Operating expense	28,243	10,338	63,544	22,236
Provision for impairment losses	32	952	614	1,573
Other (income)/expense, net	(94)	15	480	(57)
TOTAL EXPENSE	67,255	32,823	170,316	78,325
INCOME BEFORE INCOME TAX	56,761	45,521	349,753	88,870
Income tax expense	(1,768)	(6,599)	(38,980)	(11,698)
INCOME FROM CONTINUING OPERATIONS	54,993	38,922	310,773	77,172
Income/(loss) before income tax (expense)/benefit of discontinued operations	(5,067)	4,511	(4,609)	18,190
Income tax (expense)/benefit of discontinued operations	(962)	1,112	(953)	5,202
Income/(loss) from discontinued operation	(4,105)	3,399	(3,656)	12,988
NET INCOME	50,888	42,321	307,117	90,160
Less: Net (loss)/income attributable to non-controlling interest in subsidiary	(343)	(53)	(415)	243
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS	51,231	42,374	307,532	89,917
OTHER COMPREHENSIVE INCOME
Reclassification adjustment relating to available-for-sale investments disposed of in the period, net of tax effect	0	0	0	71
Foreign currency translation adjustments, net of tax effect	(7,336)	6,851	(3,106)	4,565
COMPREHENSIVE INCOME BEFORE NON-CONTROLLING INTERESTS	(4,664)	6,851		4,636
COMPREHENSIVE INCOME BEFORE NON-CONTROLLING INTERESTS	43,552	49,172	304,011	94,796
Less: Comprehensive loss attributable to non-controlling interest in subsidiary	(343)	(53)	(415)	243
COMPREHENSIVE INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS	$ 43,895	$ 49,225	$ 304,426	$ 94,553
Earnings per share, basic (in dollars per share)	$ 0.86	$ 0.73	$ 5.18	$ 1.54
Earnings per share, diluted (in dollars per share)	0.86	0.72	5.18	1.54
Earnings from continuing operations per common share - basic (in dollars per share)	0.93	0.67	5.25	1.32
Earnings from continuing operations per common share - diluted (in dollars per share)	0.93	0.67	5.25	1.32
(Loss)/earnings from discontinued operations per common share - basic (in dollars per share)	(0.07)	0.06	(0.06)	0.22
(Loss)/earnings from discontinued operations per common share - diluted (in dollars per share)	$ (0.07)	$ 0.06	$ (0.06)	$ 0.22
As previously reported
Revenue:
Fee and commission income	$ 117,316	$ 72,484	$ 327,966	$ 169,590
Net gain on trading securities	403	18,944	185,554	36,330
Interest income	27,828	9,223	69,259	18,930
Net (loss)/gain on foreign exchange operations	451	(1,413)	885	1,359
Net loss on derivative	(314)	995	(1,028)	149
TOTAL REVENUE, NET	145,684	100,233	582,636	226,358
Expense:
Fee and commission expense	22,716	20,278	67,547	50,068
Interest expense	20,799	6,649	51,256	15,092
Operating expense	50,496	21,921	117,384	52,214
Provision for impairment losses	45	1,109	704	1,775
Other (income)/expense, net	(64)	244	600	149
TOTAL EXPENSE	93,992	50,201	237,491	119,298
INCOME BEFORE INCOME TAX	51,692	50,032	345,145	107,060
Income tax expense	(806)	(7,711)	(38,037)	(16,900)
INCOME FROM CONTINUING OPERATIONS	50,886	42,321	307,108	90,160
Income/(loss) before income tax (expense)/benefit of discontinued operations	0	0	0	0
Income tax (expense)/benefit of discontinued operations	0	0	0	0
Income/(loss) from discontinued operation	0	0	0	0
NET INCOME	50,886	42,321	307,108	90,160
Less: Net (loss)/income attributable to non-controlling interest in subsidiary	(343)	(53)	(415)	243
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS	51,229	42,374	307,523	89,917
OTHER COMPREHENSIVE INCOME
Reclassification adjustment relating to available-for-sale investments disposed of in the period, net of tax effect	0	0	0	71
Foreign currency translation adjustments, net of tax effect	(7,336)	6,851	(3,106)	4,565
COMPREHENSIVE INCOME BEFORE NON-CONTROLLING INTERESTS	(7,336)	6,851	(3,106)	4,636
COMPREHENSIVE INCOME BEFORE NON-CONTROLLING INTERESTS	43,550	49,172	304,002	94,796
Less: Comprehensive loss attributable to non-controlling interest in subsidiary	(343)	(53)	(415)	243
COMPREHENSIVE INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS	$ 43,893	$ 49,225	$ 304,417	$ 94,553
Earnings per share, basic (in dollars per share)	$ 0.86	$ 0.73	$ 5.18	$ 1.54
Earnings per share, diluted (in dollars per share)	$ 0.86	$ 0.73	$ 5.18	$ 1.54
Recast discontinued operations
Revenue:
Fee and commission income	$ (25,905)	$ (14,385)	$ (65,251)	$ (33,603)
Net gain on trading securities	6,611	(4,972)	9,716	(17,087)
Interest income	(3,029)	(3,999)	(9,920)	(7,168)
Net (loss)/gain on foreign exchange operations	655	1,516	2,888	(1,217)
Net loss on derivative	0	(49)	0	(88)
TOTAL REVENUE, NET	(21,668)	(21,889)	(62,567)	(59,163)
Expense:
Fee and commission expense	(2,076)	(1,983)	(6,301)	(4,297)
Interest expense	(2,365)	(3,426)	(6,824)	(6,290)
Operating expense	(22,253)	(11,583)	(53,840)	(29,978)
Provision for impairment losses	(13)	(157)	(90)	(202)
Other (income)/expense, net	(30)	(229)	(120)	(206)
TOTAL EXPENSE	(26,737)	(17,378)	(67,175)	(40,973)
INCOME BEFORE INCOME TAX	5,069	(4,511)	4,608	(18,190)
Income tax expense	(962)	1,112	(943)	5,202
INCOME FROM CONTINUING OPERATIONS	4,107	(3,399)	3,665	(12,988)
Income/(loss) before income tax (expense)/benefit of discontinued operations	(5,067)	4,511	(4,609)	18,190
Income tax (expense)/benefit of discontinued operations	(962)	1,112	(953)	5,202
Income/(loss) from discontinued operation	(4,105)	3,399	(3,656)	12,988
NET INCOME	2	0	9	0
Less: Net (loss)/income attributable to non-controlling interest in subsidiary	0	0	0	0
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS	2	0	9	0
OTHER COMPREHENSIVE INCOME
Reclassification adjustment relating to available-for-sale investments disposed of in the period, net of tax effect	0	0	0	0
Foreign currency translation adjustments, net of tax effect	2,672	0	2,574	0
COMPREHENSIVE INCOME BEFORE NON-CONTROLLING INTERESTS	2,672	0	2,574	0
COMPREHENSIVE INCOME BEFORE NON-CONTROLLING INTERESTS	2,674	0	2,583	0
Less: Comprehensive loss attributable to non-controlling interest in subsidiary	0	0	0	0
COMPREHENSIVE INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS	2,674	$ 0	2,583	$ 0
Recasted
OTHER COMPREHENSIVE INCOME
Reclassification adjustment relating to available-for-sale investments disposed of in the period, net of tax effect			0
Foreign currency translation adjustments, net of tax effect	(4,664)		(532)
COMPREHENSIVE INCOME BEFORE NON-CONTROLLING INTERESTS			(532)
COMPREHENSIVE INCOME BEFORE NON-CONTROLLING INTERESTS	46,224		306,585
Less: Comprehensive loss attributable to non-controlling interest in subsidiary			(415)
COMPREHENSIVE INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS	$ 46,567		$ 307,000

RESTATEMENT - STATEMENT OF CASH

RESTATEMENT - STATEMENT OF CASHFLOWS (Details) - USD ($) $ in Thousands	9 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net cash flows (used in)/from operating activities	$ (637,635)	$ 604,577
Net cash flows from investing activities	(40,819)	99,279
Net cash flows from financing activities	394,591	196,741
Effect of changes in foreign exchange rates on cash and cash equivalents	8,595	3,787
NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	(275,268)	904,384
As previously reported
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net cash flows (used in)/from operating activities	(582,080)	698,954
Net cash flows from investing activities	(6,110)	98,418
Net cash flows from financing activities	338,792	61,952
Effect of changes in foreign exchange rates on cash and cash equivalents	10,593	3,787
NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	(238,805)	863,111
Adjustments for discontinued operations
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net cash flows (used in)/from operating activities	(34,465)	41,110
Net cash flows from investing activities	0	739
Net cash flows from financing activities	0	(576)
Effect of changes in foreign exchange rates on cash and cash equivalents	(1,998)	0
NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	(36,463)	41,273
Recast discontinued operations
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net cash flows (used in)/from operating activities	(616,545)	740,064
Net cash flows from investing activities	(6,110)	99,157
Net cash flows from financing activities	338,792	61,376
Effect of changes in foreign exchange rates on cash and cash equivalents	8,595	3,787
NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	(275,268)	904,384
Correction of errors
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net cash flows (used in)/from operating activities	(21,090)	(135,487)
Net cash flows from investing activities	(34,709)	122
Net cash flows from financing activities	55,799	135,365
Effect of changes in foreign exchange rates on cash and cash equivalents	0	0
NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	$ 0	$ 0

RESTATEMENT - STATEMENT OF OPER

RESTATEMENT - STATEMENT OF OPERATIONS (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Fee and commission income	$ 91,411	$ 58,099	$ 262,715	$ 135,987
Net gain on trading securities	7,014	13,972	195,270	19,243
Interest income	24,799	5,224	59,339	11,762
Net (loss)/gain on foreign exchange operations	1,106	103	3,773	142
Net (loss)/gain on derivative	(314)	946	(1,028)	61
TOTAL REVENUE, NET	124,016	78,344	520,069	167,195
As previously reported
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Fee and commission income	122,237	74,333	336,178	171,949
Net gain on trading securities	403	18,944	185,554	36,330
Interest income	22,907	7,374	61,047	16,571
Net (loss)/gain on foreign exchange operations	451	(1,413)	885	1,359
Net (loss)/gain on derivative	(314)	995	(1,028)	149
TOTAL REVENUE, NET	145,684	100,233	582,636	226,358
Adjustments for discontinued operations
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Fee and commission income	(25,905)	(14,385)	(65,251)	(33,603)
Net gain on trading securities	6,611	(4,972)	9,716	(17,087)
Interest income	(3,029)	(3,999)	(9,920)	(7,168)
Net (loss)/gain on foreign exchange operations	655	1,516	2,888	(1,217)
Net (loss)/gain on derivative	0	(49)	0	(88)
TOTAL REVENUE, NET	(21,668)	(21,889)	(62,567)	(59,163)
Discontinued Operations
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Fee and commission income	96,332	59,948	270,927	138,346
Net gain on trading securities	7,014	13,972	195,270	19,243
Interest income	19,878	3,375	51,127	9,403
Net (loss)/gain on foreign exchange operations	1,106	103	3,773	142
Net (loss)/gain on derivative	(314)	946	(1,028)	61
TOTAL REVENUE, NET	124,016	78,344	520,069	167,195
Correction of errors
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Fee and commission income	(4,921)	(1,849)	(8,212)	(2,359)
Net gain on trading securities	0	0	0	0
Interest income	4,921	1,849	8,212	2,359
Net (loss)/gain on foreign exchange operations	0	0	0	0
Net (loss)/gain on derivative	0	0	0	0
TOTAL REVENUE, NET	$ 0	$ 0	$ 0	$ 0

CASH AND CASH EQUIVALENTS - Sch

CASH AND CASH EQUIVALENTS - Schedule of cash and cash equivalents (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	$ 146,358	$ 168,017	$ 155,376
Securities purchased under reverse repurchase agreements
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	13,826	11,917
Current accounts with brokers
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	27,582	37,324
Current account with National Bank (Kazakhstan)
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	55,816	36,726
Current accounts with commercial banks
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	39,076	61,203
Petty cash in bank vault and on hand
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	7,051	14,916
Accounts with stock exchanges
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	2,254	5,873
Current account with Central Depository (Kazakhstan)
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	$ 753	$ 58

CASH AND CASH EQUIVALENTS - Nar

CASH AND CASH EQUIVALENTS - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Mar. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
FDIC insurance	$ 250,000	$ 250,000
Fair value of collateral received by the company under reverse repurchase agreements	$ 333,803	$ 12,123

CASH AND CASH EQUIVALENTS - S_2

CASH AND CASH EQUIVALENTS - Schedule of collateralized securities received under reverse repurchase agreements (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Mar. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Remaining contractual maturity: up to 30 days	$ 13,826	$ 11,917
Remaining contractual maturity: 30 - 90 days	0	0
Total contractual maturity	$ 13,826	$ 11,917
Corporate equity
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Average interest rate	14.62%	0.50%
Remaining contractual maturity: up to 30 days	$ 242	$ 1,562
Remaining contractual maturity: 30 - 90 days	0	0
Total contractual maturity	$ 242	$ 1,562
Corporate equity
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Average interest rate	0.51%	13.09%
Remaining contractual maturity: up to 30 days	$ 5,811	$ 110
Remaining contractual maturity: 30 - 90 days	0	0
Total contractual maturity	$ 5,811	$ 110
Corporate debt
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Average interest rate	0%	10.15%
Remaining contractual maturity: up to 30 days	$ 0	$ 8,460
Remaining contractual maturity: 30 - 90 days	0	0
Total contractual maturity	$ 0	$ 8,460
US sovereign debt
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Average interest rate	0.35%	0.88%
Remaining contractual maturity: up to 30 days	$ 7,773	$ 1,785
Remaining contractual maturity: 30 - 90 days	0	0
Total contractual maturity	$ 7,773	$ 1,785

RESTRICTED CASH - Schedule of r

RESTRICTED CASH - Schedule of restricted cash (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Mar. 31, 2021
Cash and Cash Equivalents [Line Items]
Restricted cash	$ 416,743	$ 490,691
Brokerage customers’ cash
Cash and Cash Equivalents [Line Items]
Restricted cash	408,175	482,135
Deferred distribution payments
Cash and Cash Equivalents [Line Items]
Restricted cash	8,534	8,535
Guaranty deposits
Cash and Cash Equivalents [Line Items]
Restricted cash	$ 34	$ 21

RESTRICTED CASH - Narrative (De

RESTRICTED CASH - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Mar. 31, 2021
Cash and Cash Equivalents [Line Items]
Restricted cash	$ 416,743	$ 490,691
Deferred distribution payments
Cash and Cash Equivalents [Line Items]
Restricted cash	$ 8,534	$ 8,535

TRADING AND AVAILABLE FOR SALE

TRADING AND AVAILABLE FOR SALE SECURITIES AT FAIR VALUE - Schedule of trading and available-for-sale securities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Mar. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Trading securities	$ 947,833	$ 587,546
Fair value of equity securities	1	1
Corporate debt
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Trading securities	513,671	301,898
Non-U.S. sovereign debt
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Trading securities	395,667	239,630
Corporate equity
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Trading securities	22,149	39,280
Exchange traded notes
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Trading securities	9,386	2,077
U.S. sovereign debt
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Trading securities	6,960	4,661
Equity securities
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of equity securities	$ 1	$ 1

TRADING AND AVAILABLE FOR SAL_2

TRADING AND AVAILABLE FOR SALE SECURITIES AT FAIR VALUE - Narrative (Details) $ in Thousands	9 Months Ended	12 Months Ended
	Dec. 31, 2021 USD ($) issuer	Mar. 31, 2021 USD ($) issuer
Defined Benefit Plan Disclosure [Line Items]
Number of issuers | issuer	2	2
Trading securities	$ 947,833	$ 587,546
Corporate equity
Defined Benefit Plan Disclosure [Line Items]
Trading securities	$ 22,149	$ 39,280
Kazakhstan Sustainability Fund JSC
Defined Benefit Plan Disclosure [Line Items]
Percentage of trading securities	10%	10%
Debt securities	$ 279,636	$ 232,601
Ministry of Finance of the Republic of Kazakhstan
Defined Benefit Plan Disclosure [Line Items]
Percentage of trading securities	10%	10%
Debt securities	$ 372,100	$ 232,958

TRADING AND AVAILABLE FOR SAL_3

TRADING AND AVAILABLE FOR SALE SECURITIES AT FAIR VALUE - Schedule of present securities assets at fair value (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Mar. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Trading securities	$ 947,833	$ 587,546
Fair value of equity securities	1	1
Quoted Prices in Active Markets for Identical Assets
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Trading securities	943,508	568,513
Fair value of equity securities	0	0
Significant Other Observable Inputs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Trading securities	2,561	0
Fair value of equity securities	0	0
Significant Unobservable Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Trading securities	1,764	19,033
Fair value of equity securities	$ 1	$ 1
Corporate debt
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted Average Interest Rate	8.80%	9.22%
Trading securities	$ 513,671	$ 301,898
Corporate debt | Quoted Prices in Active Markets for Identical Assets
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Trading securities	512,887	301,538
Corporate debt | Significant Other Observable Inputs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Trading securities	415	0
Corporate debt | Significant Unobservable Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Trading securities	$ 369	$ 360
Non-U.S. sovereign debt
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted Average Interest Rate	9.35%	8.06%
Trading securities	$ 395,667	$ 239,630
Non-U.S. sovereign debt | Quoted Prices in Active Markets for Identical Assets
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Trading securities	393,124	239,630
Non-U.S. sovereign debt | Significant Other Observable Inputs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Trading securities	1,593	0
Non-U.S. sovereign debt | Significant Unobservable Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Trading securities	$ 950	$ 0
Corporate equity
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted Average Interest Rate	0%	0%
Trading securities	$ 22,149	$ 39,280
Corporate equity | Quoted Prices in Active Markets for Identical Assets
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Trading securities	21,151	20,607
Corporate equity | Significant Other Observable Inputs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Trading securities	553	0
Corporate equity | Significant Unobservable Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Trading securities	$ 445	$ 18,673
US sovereign debt
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted Average Interest Rate	2%	1.68%
Trading securities	$ 6,960	$ 4,661
US sovereign debt | Quoted Prices in Active Markets for Identical Assets
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Trading securities	6,960	4,661
US sovereign debt | Significant Other Observable Inputs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Trading securities	0	0
US sovereign debt | Significant Unobservable Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Trading securities	$ 0	$ 0
Exchange traded notes
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted Average Interest Rate	0%	0%
Trading securities	$ 9,386	$ 2,077
Exchange traded notes | Quoted Prices in Active Markets for Identical Assets
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Trading securities	9,386	2,077
Exchange traded notes | Significant Other Observable Inputs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Trading securities	0	0
Exchange traded notes | Significant Unobservable Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Trading securities	$ 0	$ 0
Equity securities
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted Average Interest Rate	0%	0%
Fair value of equity securities	$ 1	$ 1
Equity securities | Quoted Prices in Active Markets for Identical Assets
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of equity securities	0	0
Equity securities | Significant Other Observable Inputs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of equity securities	0	0
Equity securities | Significant Unobservable Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of equity securities	$ 1	$ 1

TRADING AND AVAILABLE FOR SAL_4

TRADING AND AVAILABLE FOR SALE SECURITIES AT FAIR VALUE - Schedule of valuation techniques and significant level 3 inputs used in the valuation (Details) - USD ($) $ in Thousands	9 Months Ended
	Dec. 31, 2021	Mar. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value	$ 1,764	$ 19,033
Non-U.S. sovereign debt
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value	$ 949	0
Fair value input	13.80%
Estimated number of years	1 year
Corporate equity
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value	$ 446	302
Fair value input	18.50%
Estimated number of years	9 years
Corporate debt
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value	$ 369	360
Fair value input	16.50%
Estimated number of years	9 years
Corporate equity
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value	$ 0	$ 18,371
Fair value input	10.60%
Estimated number of years	9 years

TRADING AND AVAILABLE FOR SAL_5

TRADING AND AVAILABLE FOR SALE SECURITIES AT FAIR VALUE - Schedule of reconciliation of the beginning and ending balance for investments that use Level 3 inputs (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Dec. 31, 2021	Mar. 31, 2021
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Available-for-sale securities, beginning balance	$ 1
Available-for-sale securities, ending balance	1	$ 1
Trading Securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Investments Beginning	19,033	11,259
Reclassification to level 1	(18,408)
Redemption of securities that use Level 3 inputs	(1,030)	(2)
Purchase of investments that use Level 3 inputs	2,059	739
Revaluation of investments that use Level 3 inputs	110	7,037
Investments ending	1,764	19,033
Available-for-sale Securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Available-for-sale securities, beginning balance	1	1
Reclassification to level 1	0
Redemption of securities that use Level 3 inputs	0	0
Purchase of investments that use Level 3 inputs	0	0
Revaluation of investments that use Level 3 inputs	0	0
Available-for-sale securities, ending balance	$ 1	$ 1

TRADING AND AVAILABLE FOR SAL_6

TRADING AND AVAILABLE FOR SALE SECURITIES AT FAIR VALUE - Schedule of amortized cost, unrealized gains and losses accumulated in other comprehensive income, and fair value of available-for-sale securities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Mar. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Assets measured at amortized cost	$ 1	$ 1
Unrealized loss accumulated in other comprehensive income/(loss)	0	0
Assets measured at fair value	1	1
Equity securities
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Assets measured at amortized cost	1	1
Unrealized loss accumulated in other comprehensive income/(loss)	0	0
Assets measured at fair value	$ 1	$ 1

BROKERAGE AND OTHER RECEIVABL_3

BROKERAGE AND OTHER RECEIVABLES NET - Schedule of brokerage and other receivables (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Mar. 31, 2021
Cash and Cash Equivalents [Line Items]
Brokerage and other receivables	$ 194,158	$ 49,518
Margin lending receivables
Cash and Cash Equivalents [Line Items]
Brokerage and other receivables	186,373	43,138
Receivables from brokerage clients
Cash and Cash Equivalents [Line Items]
Brokerage and other receivables	3,637	3,896
Long-term installments receivables
Cash and Cash Equivalents [Line Items]
Brokerage and other receivables	1,208	1,280
Receivable from sale of securities
Cash and Cash Equivalents [Line Items]
Brokerage and other receivables	1,050	484
Receivable for underwriting and market-making services
Cash and Cash Equivalents [Line Items]
Brokerage and other receivables	812	564
Bank commissions receivable
Cash and Cash Equivalents [Line Items]
Brokerage and other receivables	337	697
Dividends accrued
Cash and Cash Equivalents [Line Items]
Brokerage and other receivables	120	1,392
Bonds coupon receivable | Bonds coupon receivable
Cash and Cash Equivalents [Line Items]
Brokerage and other receivables	0	0
Other receivables
Cash and Cash Equivalents [Line Items]
Brokerage and other receivables	2,380	48
Allowance for receivables
Cash and Cash Equivalents [Line Items]
Brokerage and other receivables	$ 1,759	$ 1,981

BROKERAGE AND OTHER RECEIVABL_4

BROKERAGE AND OTHER RECEIVABLES NET - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Mar. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Margin lending receivables	$ 125,799	$ 9,866
Other Receivables	(194,158)	(49,518)
Allowance for receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Other Receivables	$ (1,759)	$ (1,981)
Margin lending, brokerage and other receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Due from related party customer (in percent)	65%	20%
Margin lending, brokerage and other receivables | FFIN Brokerage Services, Inc.
Accounts, Notes, Loans and Financing Receivable [Line Items]
Due from related party customer (in percent)	59%	83%

LOANS ISSUED - Summary of loans

LOANS ISSUED - Summary of loans issued (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Mar. 31, 2021
Financing Receivable, Past Due [Line Items]
Amount Outstanding	$ 42,439	$ 9,626
Mortgage loan
Financing Receivable, Past Due [Line Items]
Amount Outstanding	$ 19,874	$ 880
Average Interest Rate	15.19%	15.41%
Fair Value of Collateral	$ 19,846	$ 729
Uncollateralized bank customer loans
Financing Receivable, Past Due [Line Items]
Amount Outstanding	$ 16,075
Average Interest Rate	18.22%
Fair Value of Collateral	$ 0
Subordinated loan
Financing Receivable, Past Due [Line Items]
Amount Outstanding	$ 5,132	$ 5,033
Average Interest Rate	4.89%	3.69%
Fair Value of Collateral	$ 0	$ 0
Subordinated loan
Financing Receivable, Past Due [Line Items]
Amount Outstanding	$ 1,358	$ 1,331
Average Interest Rate	7%	7%
Fair Value of Collateral	$ 0	$ 0
Uncollateralized non-bank loan
Financing Receivable, Past Due [Line Items]
Amount Outstanding		$ 2,382
Average Interest Rate		3%
Fair Value of Collateral		$ 0

LOANS ISSUED - Narrative (Detai

LOANS ISSUED - Narrative (Details) $ in Thousands	Dec. 31, 2021 USD ($)
Financing Receivable, Past Due [Line Items]
Option to sell back loan	$ 9,263
Microfinance organization
Financing Receivable, Past Due [Line Items]
Outstanding loans purchased from the microfinance organization	16,802
Allowance	$ 727

DEFERRED TAX LIABILITIES - Narr

DEFERRED TAX LIABILITIES - Narrative (Details) - USD ($) $ in Thousands	9 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Mar. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Effective income tax rate	11.10%	13.20%
Net operating loss carryforward	$ 305		$ 2,104
U.S.
Accounts, Notes, Loans and Financing Receivable [Line Items]
Income tax rates used for deferred tax assets and liabilities	21%		21%
Held for Sale
Accounts, Notes, Loans and Financing Receivable [Line Items]
Income tax rates used for deferred tax assets and liabilities	20%		20%
KAZAKHSTAN
Accounts, Notes, Loans and Financing Receivable [Line Items]
Income tax rates used for deferred tax assets and liabilities	20%		20%
KYRGYZSTAN
Accounts, Notes, Loans and Financing Receivable [Line Items]
Income tax rates used for deferred tax assets and liabilities	20%		20%
GERMANY
Accounts, Notes, Loans and Financing Receivable [Line Items]
Income tax rates used for deferred tax assets and liabilities	31%		31%
CYPRUS
Accounts, Notes, Loans and Financing Receivable [Line Items]
Income tax rates used for deferred tax assets and liabilities	12.50%		12.50%
UKRAINE
Accounts, Notes, Loans and Financing Receivable [Line Items]
Income tax rates used for deferred tax assets and liabilities	18%		18%
AZERBAIJAN
Accounts, Notes, Loans and Financing Receivable [Line Items]
Income tax rates used for deferred tax assets and liabilities	2%		2%
UNITED KINGDOM
Accounts, Notes, Loans and Financing Receivable [Line Items]
Income tax rates used for deferred tax assets and liabilities	25%		25%
ARMENIA
Accounts, Notes, Loans and Financing Receivable [Line Items]
Income tax rates used for deferred tax assets and liabilities	18%		18%
UZBEKISTAN
Accounts, Notes, Loans and Financing Receivable [Line Items]
Income tax rates used for deferred tax assets and liabilities	15%		15%

DEFERRED TAX LIABILITIES - Sche

DEFERRED TAX LIABILITIES - Schedule of deferred tax assets and liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Mar. 31, 2021
Deferred tax assets:
Tax losses carryforward	$ 305	$ 316
Accrued liabilities	97	109
Depreciation	16	16
Revaluation on trading securities	0	0
Valuation allowance	(305)	(316)
Deferred tax assets	113	125
Deferred tax liabilities:
Revaluation on trading securities	978	2,041
Fixed and intangible assets	621	1,568
Subordinated debt	0	523
Deferred tax liabilities	1,599	4,132
Net deferred tax liabilities	$ (1,486)	$ (4,007)

SECURITIES REPURCHASE AGREEME_3

SECURITIES REPURCHASE AGREEMENT OBLIGATIONS - Schedule of trading securities including collateralized securities subject to repurchase agreements (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Mar. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Remaining contractual maturity: up to 30 days	$ 627,493	$ 374,718
Remaining contractual maturity: 30 - 90 days	0	0
Total contractual maturity	$ 627,493	$ 374,718
Corporate equity
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Average interest rate	0%	3.78%
Remaining contractual maturity: up to 30 days	$ 0	$ 5,757
Remaining contractual maturity: 30 - 90 days	0	0
Total contractual maturity	$ 0	$ 5,757
Non-US sovereign debt one
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Average interest rate	10.51%	9.28%
Remaining contractual maturity: up to 30 days	$ 308,878	$ 229,122
Remaining contractual maturity: 30 - 90 days	0	0
Total contractual maturity	$ 308,878	$ 229,122
Corporate debt
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Average interest rate	10.30%	9.27%
Remaining contractual maturity: up to 30 days	$ 314,217	$ 138,029
Remaining contractual maturity: 30 - 90 days	0	0
Total contractual maturity	$ 314,217	$ 138,029
U.S. sovereign debt
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Average interest rate	0.36%	0.40%
Remaining contractual maturity: up to 30 days	$ 4,398	$ 1,810
Remaining contractual maturity: 30 - 90 days	0	0
Total contractual maturity	$ 4,398	$ 1,810

SECURITIES REPURCHASE AGREEME_4

SECURITIES REPURCHASE AGREEMENT OBLIGATIONS - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Mar. 31, 2021
Securities Sold under Agreements to Repurchase [Abstract]
Fair value of collateral pledged under repurchase agreements	$ 711,850	$ 374,610

CUSTOMER LIABILITIES - Schedule

CUSTOMER LIABILITIES - Schedule of customer liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Mar. 31, 2021
Revenue, Major Customer [Line Items]
Customer liabilities	$ 553,015	$ 671,825
Brokerage customers
Revenue, Major Customer [Line Items]
Customer liabilities	360,652	547,349
Banking customers
Revenue, Major Customer [Line Items]
Customer liabilities	$ 192,363	$ 124,476

CUSTOMER LIABILITIES - Narrativ

CUSTOMER LIABILITIES - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Mar. 31, 2021
Contract with Customer, Liability [Abstract]
Banking customer liabilities, current accounts	$ 69,629	$ 133,493
Banking customer liabilities, deposits	$ 124,701	$ 92,118

TRADE PAYABLES - Schedule of Tr

TRADE PAYABLES - Schedule of Trade Payables (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Mar. 31, 2021
Regulatory Liabilities [Line Items]
Trade payables	$ 50,375	$ 22,002
Margin lending payable
Regulatory Liabilities [Line Items]
Trade payables	45,990	20,120
Payables to suppliers of goods and services
Regulatory Liabilities [Line Items]
Trade payables	3,666	1,383
Trade payable for securities purchased
Regulatory Liabilities [Line Items]
Trade payables	516	292
Other
Regulatory Liabilities [Line Items]
Trade payables	$ 203	$ 207

TRADE PAYABLES - Narrative (Det

TRADE PAYABLES - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Mar. 31, 2021
Related Party Transaction [Line Items]
Trade payables	$ 69,629	$ 133,493
Related Party
Related Party Transaction [Line Items]
Trade payables	$ 41,801	$ 13,810
Trade payables due (in percent)	83%	62%

SECURITIES SOLD, NOT YET PURC_2

SECURITIES SOLD, NOT YET PURCHASED AT FAIR VALUE - Narrative (Details) - USD ($) $ in Thousands	9 Months Ended
	Dec. 31, 2021	Mar. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Securities sold, not yet purchased at fair value	$ 15,167	$ 8,569
Proceeds from sale of shares, other	6,285
Short position amount	23
Loss on the change in the fair value	$ 313

LOANS RECEIVED (Details)

LOANS RECEIVED (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2021	Mar. 31, 2021
Debt Disclosure [Abstract]
Amount Outstanding	$ 3,497	$ 3,373
Average Interest Rate	5%
Term	26 months
Total amount outstanding	$ 3,497	$ 3,373

LOANS RECEIVED - Narrative (Det

LOANS RECEIVED - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Mar. 31, 2021
Debt Disclosure [Abstract]
Accrued interest on loans	$ 197	$ 73

DEBT SECURITIES ISSUED - Summar

DEBT SECURITIES ISSUED - Summary (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Mar. 31, 2021
Debt Instrument [Line Items]
Debt securities issued	$ 33,647	$ 31,349
Debt securities issued denominated in USD
Debt Instrument [Line Items]
Debt securities issued	33,498	30,700
Accrued interest
Debt Instrument [Line Items]
Debt securities issued	$ 149	$ 649

DEBT SECURITIES ISSUED - Narrat

DEBT SECURITIES ISSUED - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Nov. 22, 2021	Oct. 31, 2021	May 29, 2021	Mar. 31, 2021	Feb. 29, 2020
Debt Instrument [Line Items]
Debt securities issued	$ 33,647				$ 31,349
FRHC notes
Debt Instrument [Line Items]
Fixed annual coupon rates		5.50%				7%
Debt instrument face amount						$ 20,498
SPC Notes
Debt Instrument [Line Items]
Fixed annual coupon rates			5.50%
Debt instrument face amount			$ 13,000
Freedom KZ Bonds
Debt Instrument [Line Items]
Fixed annual coupon rates				8%
Debt securities issued				$ 10,477
Interest payable				$ 274

NET GAIN ON TRADING SECURITIE_2

NET GAIN ON TRADING SECURITIES - Summary of net gain on trading securities (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract]
Realized net gain on sale of equity securities	$ 41,386	$ 6,571	$ 189,783	$ 13,563
Debt Securities, Trading, Unrealized Gain (Loss)	(34,372)	7,401	5,487	5,680
Net gain on trading securities	$ 7,014	$ 13,972	$ 195,270	$ 19,243

NET GAIN ON TRADING SECURITIE_3

NET GAIN ON TRADING SECURITIES - Narrative (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2021 USD ($) investor shares	Dec. 31, 2020 USD ($)	Dec. 31, 2021 USD ($) investor shares	Dec. 31, 2020 USD ($)	Mar. 31, 2021 USD ($)
Investments, Debt and Equity Securities [Abstract]
Portfolio shares SPBX	$ 7,182		$ 7,182		$ 18,371
Number of equity securities exchanged | shares	1,000,000		12,500,000
Number Of Investors | investor	490		15,490
Proceeds from the sale of equity securities	$ 11,338		$ 167,011
Shares issued during the period (in shares) | shares	2,423,000
Net proceeds from issuance of shares during the period	$ 32,858
Gain on sale of equity securities	39,658
Unrealized gain on the sale of equity securities	36,079
Realized net gain on sale of equity securities	$ 41,386	$ 6,571	189,783	$ 13,563
Realized gain on the sale of equity securities			$ 177,146

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended			9 Months Ended
	Jul. 31, 2021	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Fair Value, Separate Account Investment [Line Items]
Commission income		$ 76,655		$ 51,436	$ 220,563	$ 116,771
Commission expenses		3,805		6,139	14,297	19,302
Interest Income, Related Party		3,813		1,677	5,076	2,062
Restricted stock based compensation expense		385		$ 0	951	0
Bank commission receivables and receivables from brokerage clients from related parties		361	$ 960
Margin lending receivables		125,799	9,866		125,799
Lending payables		41,801	13,810		41,801
Accounts payable due to a related party		438	299		438
Loans purchased from microfinance organization					(29,020)	0
Loans sold to microfinance organization					$ 6,828	$ 0
Ownership interest sold during the period	23.88%
Proceeds from equity interest	$ 416
FFIN Brokerage Services, Inc.
Fair Value, Separate Account Investment [Line Items]
Percentage Of Interest Income, Related Party					100%	100%
Customer Liabilities
Fair Value, Separate Account Investment [Line Items]
Due to related parties		181,260	235,460		$ 181,260
Microfinance organization
Fair Value, Separate Account Investment [Line Items]
Outstanding loans purchased from the microfinance organization		16,802			16,802
Allowance		727			727
Brokerage Accounts
Fair Value, Separate Account Investment [Line Items]
Cash and cash equivalents		22,822	12,237		22,822
Financial liability with related parties		1,712	1,707		1,712
Restricted customer cash		$ 195,824	$ 156,878		$ 195,824

ASSETS AND LIABILITIES HELD F_3

ASSETS AND LIABILITIES HELD FOR SALE - Balance Sheet (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total assets held for sale	$ 919,592	$ 748,048	$ 748,048
Total liabilities held for sale	809,727	676,568	$ 676,568
Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash and cash equivalents	346,996	531,791
Restricted cash	32,728	27,594
Trading securities	400,823	148,642
Brokerage and other receivables, net	108,245	15,575
Loans issued	2,557	2,041
Other assets	28,243	22,405
Total assets held for sale	919,592	748,048
Customer liabilities	636,898	573,181
Debt securities issued	71,716	37,095
Securities repurchase agreement obligations	82,791	51,997
Other liabilities	18,322	14,295
Total liabilities held for sale	$ 809,727	$ 676,568

ASSETS AND LIABILITIES HELD F_4

ASSETS AND LIABILITIES HELD FOR SALE - Income Statement (Details) - Discontinued Operations - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Fee and commission income	$ 23,147	$ 13,571	$ 59,596	$ 30,810
Net (loss)/gain on trading securities	(6,611)	4,972	(9,716)	17,087
Interest income	5,786	4,813	15,574	9,961
Net gain/(loss) on foreign exchange operations	(655)	(1,516)	(2,889)	1,217
Net gain/(loss) on derivative	0	49	0	88
Total revenue	21,667	21,889	62,565	59,163
Fee and commission expense	2,075	1,983	6,300	4,298
Interest expense	2,365	3,426	6,824	6,289
Operating expense	22,253	11,583	53,841	29,979
Provision for impairment losses	13	156	89	200
Other (income)/expense, net	28	230	120	207
Total expense	26,734	17,378	67,174	40,973
Profit before income tax	$ (5,067)	$ 4,511	$ (4,609)	$ 18,190

ASSETS AND LIABILITIES HELD F_5

ASSETS AND LIABILITIES HELD FOR SALE - Cash Flows (Details) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net income from discontinued operations	$ (4,105,000)	$ 3,399,000	$ (3,656,000)	$ 12,988,000
Noncash lease expense			2,344,000	2,094,000
Change in deferred taxes			(2,508,000)	1,485,000
Stock compensation expense			5,635,000	57,000
Unrealized (gain)/loss on trading securities	$ 34,372,000	$ (7,401,000)	(5,487,000)	(5,680,000)
Net change in accrued interest			(24,664,000)	(392,000)
Allowances/(recovery) for receivables			615,000	1,573,000
Trading securities			(358,257,000)	(37,819,000)
Brokerage and other receivables			(143,118,000)	52,407,000
Other assets			(9,680,000)	(1,289,000)
Securities sold, not yet purchased – at fair value			5,979,000	9,078,000
Customer liabilities			(230,970,000)	336,882,000
Current income tax liability			6,380,000	1,123,000
Trade payables			28,750,000	10,824,000
Other liabilities			(346,000)	(174,000)
Net cash flows (used in)/from operating activities from discontinued operations			(222,901,000)	156,483,000
Purchase of fixed assets			(4,066,000)	(1,011,000)
Proceeds from sale of fixed assets			175,000	7,000
Loans issued			(11,946,000)	122,000
Net cash flows (used in)/from investing activities from discontinued operations			(2,790,000)	(1,102,000)
Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net income from discontinued operations			(3,656,000)	12,988,000
Depreciation and amortization			1,637,000	439,000
Noncash lease expense			3,785,000	2,847,000
Impairment of Freedom Bank RU goodwill			0	0
Impairment of Zerich goodwill			0	0
Loss on sale of fixed assets			0	0
Client base write-off			0	0
Change in deferred taxes			(1,892,000)	1,406,000
Stock compensation expense			5,647,000	1,033,000
Unrealized (gain)/loss on trading securities			9,082,000	(1,988,000)
Net change in accrued interest			1,436,000	567,000
Allowances/(recovery) for receivables			89,000	203,000
Trading securities			(262,438,000)	(81,345,000)
Brokerage and other receivables			(93,717,000)	5,444,000
Other assets			(1,948,000)	(1,792,000)
Securities sold, not yet purchased – at fair value			(24,000)	0
Customer liabilities			121,173,000	217,034,000
Current income tax liability			(623,000)	990,000
Trade payables			319,000	219,000
Lease liabilities			(3,947,000)	(2,988,000)
Other liabilities			2,176,000	1,426,000
Net cash flows (used in)/from operating activities from discontinued operations			(222,901,000)	156,483,000
Purchase of fixed assets			(2,918,000)	(985,000)
Proceeds from sale of fixed assets			699,000	0
Purchase of intangible assets			0	0
Loans issued			(571,000)	(117,000)
Net cash flows (used in)/from investing activities from discontinued operations			$ (2,790,000)	$ (1,102,000)

STOCKHOLDERS EQUITY (Details)

STOCKHOLDERS EQUITY (Details) $ / shares in Units, $ in Thousands			3 Months Ended		9 Months Ended
	May 18, 2021 individual shares	Dec. 30, 2020 individual shares	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2021 USD ($) $ / shares shares	Dec. 31, 2020 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-qualified stock options (in shares)					60,000
Strike price (in USD per share) | $ / shares					$ 1.98
Proceeds from stock options exercised | $					$ 119	$ 118
Restricted stock grants	1,031,500	15,000
Stock-based compensation expense | $			$ 4,561	$ 35	$ 11,283	$ 1,090
Employees and Consultants
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of individuals | individual	56
Executive Officers
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of individuals | individual	2
Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of individuals | individual		3
Share-based Payment Arrangement, Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock grants	200,942	4,500
Vesting period (in years)	1 year	1 year
Share-based Payment Arrangement, Tranche Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock grants	211,658	4,500
Vesting period (in years)	2 years	2 years
Share-based Payment Arrangement, Tranche Three
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock grants	206,300	6,000
Vesting period (in years)	4 years	3 years
Share-based Payment Arrangement, Tranche Three | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	3 years
Share-based Payment Arrangement, Tranche Three | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	5 years

STOCK BASED COMPENSATION - Narr

STOCK BASED COMPENSATION - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Share-based Payment Arrangement, Noncash Expense [Abstract]
Restricted shares			1,031,500,000
Compensation expense	$ 4,561	$ 31	$ 11,283	$ 978
Unrecognized compensation cost	28,899		$ 28,899
Weighted average period			4 years 4 months 9 days
Compensation expense relating to outstanding options	$ 0	$ 54	$ 0	$ 162
Exercise of options (in shares)			60,000

STOCK BASED COMPENSATION - Sche

STOCK BASED COMPENSATION - Schedule of fair value of restricted shares awarded using the Monte Carlo valuation model (Details)	3 Months Ended	9 Months Ended
	Dec. 31, 2021	Dec. 31, 2021
Monte Carlo
Class of Warrant or Right [Line Items]
Term (years)		5 years
Volatility		41.50%
Risk-free rate		0.06%
Black Scholes
Class of Warrant or Right [Line Items]
Term (years)	3 years
Volatility	165.33%
Risk-free rate	1.66%

STOCK BASED COMPENSATION - Sc_2

STOCK BASED COMPENSATION - Schedule of the activity of the company's restricted stock outstanding (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Mar. 31, 2021	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Restricted stock outstanding, beginning balance (in shares)		15,000,000
Granted (in shares)		1,031,500,000
Vested (in shares)		0
Forfeited/cancelled/expired (in shares)		0
Restricted stock outstanding, ending balance (in shares)	15,000,000	1,046,500,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Weighted average fair value, beginning balance	$ 775
Weighted average exercise price granted		$ 39,465
Weighted average exercise price vested		0
Weighted average exercise price forfeited/cancelled/expired		0
Weighted average fair value, ending balance		$ 40,240

STOCK BASED COMPENSATION - Sc_3

STOCK BASED COMPENSATION - Schedule stock option activity (Details) - USD ($)	9 Months Ended	12 Months Ended
	Dec. 31, 2021	Mar. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Number of options outstanding, beginning (in shares)		60,000
Number of options granted (in shares)	0
Number of options exercised (in shares)	(60,000)
Number of options forfeited/cancelled/expired	0
Number of options outstanding, ending (in shares)	0
Number of options exercisable (in shares)	0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Weighted average exercise price outstanding, beginning (USD per share)	$ 1.98
Weighted average exercise price granted (USD per share)	0
Weighted Average Exercise Price, exercised (USD per share)	1.98
Weighted average exercise price forfeited/cancelled/expired (USD per share)	0
Weighted average exercise price outstanding, ending (USD per share)	0
Weighted average exercise price, exercisable (USD per share)	$ 0
Weighted average remaining contractual term outstanding, beginning		6 years 6 months 7 days
Weighted Average Remaining Contractual Term, Exercised (In Years)	6 years 6 months 7 days
Weighted Average Remaining Contractual Term (In Years)	0 years
Weighted average remaining contractual term exercisable, ending	0 years
Aggregate intrinsic value outstanding, beginning	$ 3,083,000
Aggregate intrinsic value, granted	$ 0
Aggregate intrinsic value, exercised	$ 3,742,000
Aggregate intrinsic value, forfeited/cancelled/expired	$ 0
Aggregate intrinsic value outstanding, ending	$ 0
Aggregate intrinsic value exercisable	$ 0

LEASES - Schedule of lease rela

LEASES - Schedule of lease related assets and liabilities (Details) $ in Thousands	Dec. 31, 2021 USD ($)
Leases [Abstract]
Right-of-use asset	$ 6,926
Operating lease liability	$ 7,031

LEASES - Schedule of lease obli

LEASES - Schedule of lease obligations (Details) $ in Thousands	Dec. 31, 2021 USD ($)
Operating Leases, Future Minimum Payments Receivable [Abstract]
2022	$ 990
2023	3,578
2024	1,430
2025	1,070
2026	1,006
Thereafter	182
Total payments	8,256
Less: amounts representing interest	(1,225)
Lease liability, net	$ 7,031
Weighted average remaining lease term (in months)	22 months
Weighted average discount rate	12%

LEASES - Narrative (Details)

LEASES - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Short term operating lease	$ 99
Rent expense for office space	$ 194	$ 80	$ 1,123	$ 827

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Mar. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Bank guarantees	$ 5,232	$ 6,594
Unfunded commitments under lines of credit	10,142	182
Total	$ 15,374	$ 6,776

SEGMENT REPORTING - Narrative (

SEGMENT REPORTING - Narrative (Details)	9 Months Ended
	Dec. 31, 2021 issuer
Segment Reporting [Abstract]
Number of Reportable Segments	5

SEGMENT REPORTING - Results by

SEGMENT REPORTING - Results by segment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Fee and commission income	$ 91,411	$ 58,099	$ 262,715	$ 135,987
Net gain on trading securities	7,014	13,972	195,270	19,243
Interest income	24,799	5,224	59,339	11,762
Net (loss)/gain on foreign exchange operations	1,106	103	3,773	142
Net (loss)/gain on derivative	(314)	946	(1,028)	61
TOTAL REVENUE, NET	124,016	78,344	520,069	167,195
Fee and commission expense	20,640	18,295	61,246	45,771
Interest expense	18,434	3,223	44,432	8,802
Operating expense / (income)	28,243
Operating expense	28,243	10,338	63,544	22,236
Provision for impairment losses	32	952	614	1,573
Other (income)/expense, net	(94)	15	480	(57)
TOTAL EXPENSE	67,255	32,823	170,316	78,325
NET INCOME BEFORE INCOME TAX	56,761	45,521	349,753	88,870
Income tax expense	(1,768)	(6,599)	(38,980)	(11,698)
INCOME FROM CONTINUING OPERATIONS	54,993	38,922	310,773	77,172
Central Asia
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Fee and commission income	6,993	3,445	18,258	11,754
Net gain on trading securities	6,432	6,768	16,102	12,117
Interest income	19,845	2,980	51,250	8,379
Net (loss)/gain on foreign exchange operations	1,747	295	4,472	605
Net (loss)/gain on derivative	(314)	946	(1,028)	61
TOTAL REVENUE, NET	34,703	14,434	89,054	32,916
Fee and commission expense	2,381	332	3,797	618
Interest expense	14,097	1,603	35,891	5,020
Operating expense / (income)	11,909
Operating expense		4,776	29,099	12,640
Provision for impairment losses	0	952	571	770
Other (income)/expense, net	(83)	16	503	(41)
TOTAL EXPENSE	28,304	7,679	69,861	19,007
NET INCOME BEFORE INCOME TAX	6,399	6,755	19,193	13,909
Income tax expense	1,294	(3)	1,324	(6)
INCOME FROM CONTINUING OPERATIONS	7,693	6,752	20,517	13,903
Europe
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Fee and commission income	83,162	54,629	241,066	124,208
Net gain on trading securities	481	28	179,473	87
Interest income	4,940	2,031	8,015	2,731
Net (loss)/gain on foreign exchange operations	(437)	88	(497)	(238)
Net (loss)/gain on derivative	0	0	0	0
TOTAL REVENUE, NET	88,146	56,776	428,057	126,788
Fee and commission expense	18,106	17,874	56,946	44,927
Interest expense	3,919	1,096	7,422	2,018
Operating expense / (income)	10,517
Operating expense		4,070	20,089	6,671
Provision for impairment losses	0	0	11	404
Other (income)/expense, net	(13)	(1)	(21)	(16)
TOTAL EXPENSE	32,529	23,039	84,447	54,004
NET INCOME BEFORE INCOME TAX	55,617	33,737	343,610	72,784
Income tax expense	(7,176)	(3,548)	(21,190)	(7,381)
INCOME FROM CONTINUING OPERATIONS	48,441	30,189	322,420	65,403
U.S.
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Fee and commission income	1,256	25	3,391	25
Net gain on trading securities	101	7,176	(305)	7,039
Interest income	14	213	74	652
Net (loss)/gain on foreign exchange operations	(209)	(280)	(207)	(225)
Net (loss)/gain on derivative		0	0	0
TOTAL REVENUE, NET	1,162	7,134	2,953	7,491
Fee and commission expense	153	89	503	226
Interest expense	418	524	1,119	1,764
Operating expense / (income)	5,903
Operating expense		1,492	14,275	2,925
Provision for impairment losses	32	0	32	399
Other (income)/expense, net		0	0	0
TOTAL EXPENSE	6,506	2,105	15,929	5,314
NET INCOME BEFORE INCOME TAX	(5,344)	5,029	(12,976)	2,177
Income tax expense	4,114	(3,048)	(19,114)	(4,311)
INCOME FROM CONTINUING OPERATIONS	(1,230)	$ 1,981	(32,090)	$ (2,134)
Middle East/Caucasus
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Fee and commission income	0		0
Net gain on trading securities	0		0
Interest income	0		0
Net (loss)/gain on foreign exchange operations	5		5
Net (loss)/gain on derivative			0
TOTAL REVENUE, NET	5		5
Fee and commission expense	0		0
Interest expense	0		0
Operating expense / (income)	(86)
Operating expense			81
Provision for impairment losses	0		0
Other (income)/expense, net	2		(2)
TOTAL EXPENSE	(84)		79
NET INCOME BEFORE INCOME TAX	89		(74)
Income tax expense	0		0
INCOME FROM CONTINUING OPERATIONS	$ 89		$ (74)

SEGMENT REPORTING - Net assets

SEGMENT REPORTING - Net assets by segment (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Mar. 31, 2021
Segment Reporting, Asset Reconciling Item [Line Items]
TOTAL ASSETS	$ 2,726,991	$ 2,100,322
TOTAL LIABILITIES	2,135,501	1,824,662
Net assets	591,490	275,660
Central Asia
Segment Reporting, Asset Reconciling Item [Line Items]
TOTAL ASSETS	1,157,484	714,380
TOTAL LIABILITIES	905,796	557,747
Net assets	251,688	156,633
Europe
Segment Reporting, Asset Reconciling Item [Line Items]
TOTAL ASSETS	622,309	591,072
TOTAL LIABILITIES	344,521	530,227
Net assets	277,788	60,845
U.S.
Segment Reporting, Asset Reconciling Item [Line Items]
TOTAL ASSETS	27,219	46,682
TOTAL LIABILITIES	75,279	60,117
Net assets	(48,060)	(13,435)
Middle East/Caucasus
Segment Reporting, Asset Reconciling Item [Line Items]
TOTAL ASSETS	387	140
TOTAL LIABILITIES	178	3
Net assets	209	137
Held for Sale
Segment Reporting, Asset Reconciling Item [Line Items]
TOTAL ASSETS	919,592	748,048
TOTAL LIABILITIES	809,727	676,568
Net assets	$ 109,865	$ 71,480

Uncategorized Items - frhc-2021

Label	Element	Value
Income Taxes Paid, Net	us-gaap_IncomeTaxesPaidNet	$ 42,237,000
Income Taxes Paid, Net	us-gaap_IncomeTaxesPaidNet	10,222,000
Interest Paid, Excluding Capitalized Interest, Operating Activities	us-gaap_InterestPaidNet	5,948,000
Interest Paid, Excluding Capitalized Interest, Operating Activities	us-gaap_InterestPaidNet	20,632,000
Operating lease right-of-use assets obtained/disposed of in exchange for operating lease obligations during the period, net	frhc_OperatingLeaseRightOfUseAssetsObtainedDisposedOfInExchangeForOperatingLeaseObligationsDuringThePeriodNet	4,686,000
Operating lease right-of-use assets obtained/disposed of in exchange for operating lease obligations during the period, net	frhc_OperatingLeaseRightOfUseAssetsObtainedDisposedOfInExchangeForOperatingLeaseObligationsDuringThePeriodNet	$ 1,037,000