we generate our revenue by business segment primarily through : capital markets : our trading activities , which include execution and brokerage services , securities lending activities , riskless trading activities , as well as gains and losses ( unrealized and realized ) and income and expense earned on securities classified as trading ; new issue and advisory revenue comprised of ( a ) origination fees for corporate debt issues originated by us ; ( b ) revenue from advisory services ; and ( c ) new issue revenue associated with arranging and placing the issuance of newly created debt , equity , and hybrid financial instruments ; 46 asset management : asset management fees for our on-going asset manager services provided to various investment vehicles , which may include fees both senior and subordinate to the securities issued by the investment vehicle ; incentive management fees earned based on the performance of the various investment vehicles ; and income or loss from equity method affiliates . principal investing : gains and losses ( unrealized and realized ) and income and expense earned on securities , primarily in investments in investment vehicles we manage , classified as other investments , at fair value ; and income or loss from equity method affiliates . business environment our business is materially affected by economic conditions in the financial markets , political conditions , broad trends in business and finance , changes in volume and price levels of securities transactions , and changes in interest rates , all of which can affect our profitability and are unpredictable and beyond our control . these factors may affect the financial decisions made by investors and companies , including their level of participation in the financial markets and their willingness to participate in corporate transactions . severe market fluctuations or weak economic conditions could continue to reduce our trading volume and revenues , could negatively affect our ability to generate new issue and advisory revenue , and adversely affect our profitability . the markets remain uneven and vulnerable to changes in investor sentiment . we believe the general business environment will continue to be challenging into the foreseeable future . a portion of our revenues is generated from net trading activity . we engage in proprietary trading for our own account , provide securities financing for our customers , as well as execute “ riskless ” trades with a customer order in hand resulting in limited market risk to us . the inventory of securities held for our own account , as well as held to facilitate customer trades , and our market making activities are sensitive to market movements . a portion of our revenues is generated from new issue and advisory engagements . the fees charged and volume of these engagements are sensitive to the overall business environment . a portion of our revenues is generated from management fees . our ability to charge management fees and the amount of those fees is dependent upon the underlying investment performance and stability of the investment vehicles . if these types of investments do not provide attractive returns to investors , the demand for such instruments will likely fall , thereby reducing our opportunity to earn new management fees or maintain existing management fees . as of december 31 , 2013 , 94 % of our existing aum were cdos . the creation of cdos and permanent capital vehicles has depended upon a vibrant securitization market . since 2008 , volumes within the securitization market have dropped significantly and have not recovered since that time . consequently , we have been unable to complete a new securitization since 2008. a portion of our revenues is generated from our principal investing activities . therefore , our revenues are impacted by the underlying operating results of these investments . as of december 31 , 2013 , we had $ 26,877 of other investments , at fair value representing our principal investment portfolio . of this amount , $ 26,325 , or 97.9 % , was comprised of the following investment funds and permanent capital vehicles : star asia , eurodekania , tiptree , and the star asia special situations fund . furthermore , the investment in star asia is our largest single principal investment and , as of december 31 , 2013 , had a fair value of $ 17,104 , representing 64 % of the total amount of other investments , at fair value . star asia seeks to invest in asian commercial real estate structured finance products , including cmbs , corporate debt of reits and real estate operating companies , whole loans , mezzanine loans , and other commercial real estate fixed income investments , and in real property located in japan . therefore , our results of operations and financial condition will be significantly impacted by the financial results of these . see sale of star asia and other related entities below . margin pressures in corporate bond brokerage business performance in the financial services industry in which we operate is highly correlated to the overall strength of the economy and financial market activity . overall market conditions are a product of many factors beyond our control and can be unpredictable . these factors may affect the financial decisions made by investors , including the ir level of participation in the financial markets . in turn , these decisions may affect our business results . with respect to financial market activity , our profitability is sensitive to a variety of factors including the volatility of the equity and fixed income markets , the level and shape of the various yield curves , and the volume and value of trading in securities . 47 since 2010 , both margins and volumes in certain products and markets within the corporate bond brokerage business have decreased materially as competition has increased and general market activity has declined . story_separator_special_tag accordingly , we were exposed to increases and decreases in the value of our investment in star asia that result from fluctuations of the japanese yen as compared to the u.s. dollar . as of december 31 , 2013 , our long exposure to the japanese yen was 3.2 billion japanese yen and o ur japanese yen hedge was 1.25 billion japanese yen . the spot rate of the u.s. dollar to japanese yen was $ 105.31 as of december 31 , 2013 , and , as a result our un-hedged portion of star asia was $ 18.8 million . we had no hedge in place at december 31 , 2012. as of december 31 , 2012 , our long exposure to japanese yen was 4.2 billion yen . the spot rate of u.s. dollar to japanese yen was 86.75 as of december 31 , 2012 , which means our un-hedged portion of star asia was $ 49.0 million . in conjunction with the sale of the star asia group in february 2014 , we extinguished our existing yen hedge . going forward we should not have material exposure to the japanese yen . underlying investment values : this line item represents the changes to the fair value of our investment in star asia exclusive of the impact of foreign currency changes or other changes specifically identified in the table above . as described in more detail in note 31 to our consolidated financial statements included in this annual report on form 10-k , we sold our investment in star asia in february 2014 along with our investment in the remaining entities in the star asia group . as a result , as of december 31 , 2013 , we determined the fair value of our investment in star asia by utilizing a valuation model that took into account the terms and conditions of the sale in february 2014 . 53 effective june 30 , 2013 , we changed the way we calculate the fair value of our investment in tiptree . previously , we carried our investment at the underlying nav of the fund . however , tiptree completed a reorganization during 2013 . as a result of the reorganization , our investment in tiptree can be exchanged into shares of tiptree financial , inc. based on a stated exchange ratio ( which is generally fixed , but can be adjusted for certain events like stock dividends or stock splits ) . tiptree financial inc. is publicly traded otc . therefore , beginning june 30 , 2013 , we calculate the fair value of our investment in tiptree by using the closing over the counter price for tiptree financial inc. and adjusting for the exchange ratio . the decline in the fair value of our investment was primarily due to this change in method of calculating the fair value of our investment . in december 2012 , we made an investment in the star asia special situations fund . as of december 31 , 2012 , we carried our investment in the star asia special situations fund at the nav of the underlying fund . as described in more detail in note 31 to our consolidated financial statements included in this annual report on form 10-k , we sold our investment in star asia special situations fund in february 2014 , along with our investment in the remaining entities of the star asia group . as a result , as of december 31 , 2013 , we determined the fair value of our investment in star asia special situations fund by utilizing a valuation model that took into account the terms and conditions of the sale in february 2014. dividends , interest , and other dividends , interest , and other increased by $ 2,009 to $ 4,167 for the year ended december 31 , 2013 , as compared to $ 2,158 for the year ended december 31 , 2012 . prior the merger , afn had entered into an arrangement whereby it guaranteed a portion of a particular loan that was owned by the alesco xiv securitization . this arrangement was accounted for as a guarantee and we recorded a liability of $ 1,084 at the merger date . in may 2013 , the underlying loan was paid off in full by the borrower and our guarantee was extinguished . we recorded other revenue of $ 1,084 in the second quarter of 2013 and wrote off the liability . see note 26 to our consolidated financial statements included in this annual report on form 10-k . the remaining increase in dividends interest and other was primarily comprised of : ( i ) $ 1,015 increase from our revenue share arrangement with strategos capital management llc ; and ( ii ) $ 90 dec rease in all other income , net . operating expenses operating expenses decreased by $ 16,324 , or 17 % , to $ 78,621 for the year ended december 31 , 2013 , as compared to $ 94,945 for the year ended december 31 , 2012 . as discussed in more detail below , the change was comprised of ( i ) a decrease of $ 15,784 in compensation and benefits ; ( ii ) an increase of $ 22 in business development , occupancy , and equipment ; ( iii ) a decrease of $ 624 in subscriptions , clearing , and execution ; ( iv ) a decrease of $ 38 of professional fee s and other operating ; and ( v ) an increase of $ 100 of depreciation and amortization . compensation and benefits compensation and benefits decreased by $ 15,784 , or 25 % , to $ 47,167 for the year ended december 31 , 2013 , as compared to $ 62,951 for the year ended december 31 , 2013 . replace_table_token_13_th cash compensation and benefits in the table above is primarily comprised of salary , incentive compensation , and

was attributable to the cash used by operating activities of $ 8,231 , the cash provided by investing activities of $ 2,941 , the cash provided by financing activities of $ 4,032 , and the decrease in cash caused by a change in exchange rates of $ 81 . the cash used by operating activities of $ 8,231 was comprised of ( a ) net cash outflows of $ 10,078 related to working capital fluctuations ( b ) net cash inflows of $ 7,967 from trading activities comprised of our investments-trading , trading securities sold , not yet purchased , securities sold under agreement to repurchase , and receivables and payables from brokers , dealers and clearing agencies , as well as the changes in unrealized gains and losses on the investments-trading and trading securities sold , but not yet purchased ; and ( c ) net cash outflows from other earnings items of $ 6,120 ( which represents net income or loss adjusted for the following non-cash operating items : other income / ( expense ) , realized and unrealized gains and losses on other investments , income or loss from equity method affiliates , equity based compensation , depreciation , and amortization ) . 69 the cash provided by investing activities of $ 2,941 was comprised of ( a ) $ 679 of cash acquired due to the acquisition of star asia manager ; ( b ) $ 2,082 of proceeds from sales and returns of principal from other investments , at fair value ; ( c ) $ 3,094 in distributions received from equit y method affiliates ( see note 15 to our consolidated financial statements in this annual report on form 10-k ) ; net of ( d ) $ 2,035 of cash used to acquire other investments , at fair value which was comprised of $ 302 of additional investment in the star a sia special situations fund , $ 762 invested in a yen currency hedge , and $ 971 used to purchase shares of eurodekania ; ( e ) $ 3 0 of investment in equity method affiliates ; and ( f ) $ 849 used to purchase furniture , equipment and leasehold improvements .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```was attributable to the cash used by operating activities of $ 8,231 , the cash provided by investing activities of $ 2,941 , the cash provided by financing activities of $ 4,032 , and the decrease in cash caused by a change in exchange rates of $ 81 . the cash used by operating activities of $ 8,231 was comprised of ( a ) net cash outflows of $ 10,078 related to working capital fluctuations ( b ) net cash inflows of $ 7,967 from trading activities comprised of our investments-trading , trading securities sold , not yet purchased , securities sold under agreement to repurchase , and receivables and payables from brokers , dealers and clearing agencies , as well as the changes in unrealized gains and losses on the investments-trading and trading securities sold , but not yet purchased ; and ( c ) net cash outflows from other earnings items of $ 6,120 ( which represents net income or loss adjusted for the following non-cash operating items : other income / ( expense ) , realized and unrealized gains and losses on other investments , income or loss from equity method affiliates , equity based compensation , depreciation , and amortization ) . 69 the cash provided by investing activities of $ 2,941 was comprised of ( a ) $ 679 of cash acquired due to the acquisition of star asia manager ; ( b ) $ 2,082 of proceeds from sales and returns of principal from other investments , at fair value ; ( c ) $ 3,094 in distributions received from equit y method affiliates ( see note 15 to our consolidated financial statements in this annual report on form 10-k ) ; net of ( d ) $ 2,035 of cash used to acquire other investments , at fair value which was comprised of $ 302 of additional investment in the star a sia special situations fund , $ 762 invested in a yen currency hedge , and $ 971 used to purchase shares of eurodekania ; ( e ) $ 3 0 of investment in equity method affiliates ; and ( f ) $ 849 used to purchase furniture , equipment and leasehold improvements .
```    
 Suspicious Activity Report : we generate our revenue by business segment primarily through : capital markets : our trading activities , which include execution and brokerage services , securities lending activities , riskless trading activities , as well as gains and losses ( unrealized and realized ) and income and expense earned on securities classified as trading ; new issue and advisory revenue comprised of ( a ) origination fees for corporate debt issues originated by us ; ( b ) revenue from advisory services ; and ( c ) new issue revenue associated with arranging and placing the issuance of newly created debt , equity , and hybrid financial instruments ; 46 asset management : asset management fees for our on-going asset manager services provided to various investment vehicles , which may include fees both senior and subordinate to the securities issued by the investment vehicle ; incentive management fees earned based on the performance of the various investment vehicles ; and income or loss from equity method affiliates . principal investing : gains and losses ( unrealized and realized ) and income and expense earned on securities , primarily in investments in investment vehicles we manage , classified as other investments , at fair value ; and income or loss from equity method affiliates . business environment our business is materially affected by economic conditions in the financial markets , political conditions , broad trends in business and finance , changes in volume and price levels of securities transactions , and changes in interest rates , all of which can affect our profitability and are unpredictable and beyond our control . these factors may affect the financial decisions made by investors and companies , including their level of participation in the financial markets and their willingness to participate in corporate transactions . severe market fluctuations or weak economic conditions could continue to reduce our trading volume and revenues , could negatively affect our ability to generate new issue and advisory revenue , and adversely affect our profitability . the markets remain uneven and vulnerable to changes in investor sentiment . we believe the general business environment will continue to be challenging into the foreseeable future . a portion of our revenues is generated from net trading activity . we engage in proprietary trading for our own account , provide securities financing for our customers , as well as execute “ riskless ” trades with a customer order in hand resulting in limited market risk to us . the inventory of securities held for our own account , as well as held to facilitate customer trades , and our market making activities are sensitive to market movements . a portion of our revenues is generated from new issue and advisory engagements . the fees charged and volume of these engagements are sensitive to the overall business environment . a portion of our revenues is generated from management fees . our ability to charge management fees and the amount of those fees is dependent upon the underlying investment performance and stability of the investment vehicles . if these types of investments do not provide attractive returns to investors , the demand for such instruments will likely fall , thereby reducing our opportunity to earn new management fees or maintain existing management fees . as of december 31 , 2013 , 94 % of our existing aum were cdos . the creation of cdos and permanent capital vehicles has depended upon a vibrant securitization market . since 2008 , volumes within the securitization market have dropped significantly and have not recovered since that time . consequently , we have been unable to complete a new securitization since 2008. a portion of our revenues is generated from our principal investing activities . therefore , our revenues are impacted by the underlying operating results of these investments . as of december 31 , 2013 , we had $ 26,877 of other investments , at fair value representing our principal investment portfolio . of this amount , $ 26,325 , or 97.9 % , was comprised of the following investment funds and permanent capital vehicles : star asia , eurodekania , tiptree , and the star asia special situations fund . furthermore , the investment in star asia is our largest single principal investment and , as of december 31 , 2013 , had a fair value of $ 17,104 , representing 64 % of the total amount of other investments , at fair value . star asia seeks to invest in asian commercial real estate structured finance products , including cmbs , corporate debt of reits and real estate operating companies , whole loans , mezzanine loans , and other commercial real estate fixed income investments , and in real property located in japan . therefore , our results of operations and financial condition will be significantly impacted by the financial results of these . see sale of star asia and other related entities below . margin pressures in corporate bond brokerage business performance in the financial services industry in which we operate is highly correlated to the overall strength of the economy and financial market activity . overall market conditions are a product of many factors beyond our control and can be unpredictable . these factors may affect the financial decisions made by investors , including the ir level of participation in the financial markets . in turn , these decisions may affect our business results . with respect to financial market activity , our profitability is sensitive to a variety of factors including the volatility of the equity and fixed income markets , the level and shape of the various yield curves , and the volume and value of trading in securities . 47 since 2010 , both margins and volumes in certain products and markets within the corporate bond brokerage business have decreased materially as competition has increased and general market activity has declined . story_separator_special_tag accordingly , we were exposed to increases and decreases in the value of our investment in star asia that result from fluctuations of the japanese yen as compared to the u.s. dollar . as of december 31 , 2013 , our long exposure to the japanese yen was 3.2 billion japanese yen and o ur japanese yen hedge was 1.25 billion japanese yen . the spot rate of the u.s. dollar to japanese yen was $ 105.31 as of december 31 , 2013 , and , as a result our un-hedged portion of star asia was $ 18.8 million . we had no hedge in place at december 31 , 2012. as of december 31 , 2012 , our long exposure to japanese yen was 4.2 billion yen . the spot rate of u.s. dollar to japanese yen was 86.75 as of december 31 , 2012 , which means our un-hedged portion of star asia was $ 49.0 million . in conjunction with the sale of the star asia group in february 2014 , we extinguished our existing yen hedge . going forward we should not have material exposure to the japanese yen . underlying investment values : this line item represents the changes to the fair value of our investment in star asia exclusive of the impact of foreign currency changes or other changes specifically identified in the table above . as described in more detail in note 31 to our consolidated financial statements included in this annual report on form 10-k , we sold our investment in star asia in february 2014 along with our investment in the remaining entities in the star asia group . as a result , as of december 31 , 2013 , we determined the fair value of our investment in star asia by utilizing a valuation model that took into account the terms and conditions of the sale in february 2014 . 53 effective june 30 , 2013 , we changed the way we calculate the fair value of our investment in tiptree . previously , we carried our investment at the underlying nav of the fund . however , tiptree completed a reorganization during 2013 . as a result of the reorganization , our investment in tiptree can be exchanged into shares of tiptree financial , inc. based on a stated exchange ratio ( which is generally fixed , but can be adjusted for certain events like stock dividends or stock splits ) . tiptree financial inc. is publicly traded otc . therefore , beginning june 30 , 2013 , we calculate the fair value of our investment in tiptree by using the closing over the counter price for tiptree financial inc. and adjusting for the exchange ratio . the decline in the fair value of our investment was primarily due to this change in method of calculating the fair value of our investment . in december 2012 , we made an investment in the star asia special situations fund . as of december 31 , 2012 , we carried our investment in the star asia special situations fund at the nav of the underlying fund . as described in more detail in note 31 to our consolidated financial statements included in this annual report on form 10-k , we sold our investment in star asia special situations fund in february 2014 , along with our investment in the remaining entities of the star asia group . as a result , as of december 31 , 2013 , we determined the fair value of our investment in star asia special situations fund by utilizing a valuation model that took into account the terms and conditions of the sale in february 2014. dividends , interest , and other dividends , interest , and other increased by $ 2,009 to $ 4,167 for the year ended december 31 , 2013 , as compared to $ 2,158 for the year ended december 31 , 2012 . prior the merger , afn had entered into an arrangement whereby it guaranteed a portion of a particular loan that was owned by the alesco xiv securitization . this arrangement was accounted for as a guarantee and we recorded a liability of $ 1,084 at the merger date . in may 2013 , the underlying loan was paid off in full by the borrower and our guarantee was extinguished . we recorded other revenue of $ 1,084 in the second quarter of 2013 and wrote off the liability . see note 26 to our consolidated financial statements included in this annual report on form 10-k . the remaining increase in dividends interest and other was primarily comprised of : ( i ) $ 1,015 increase from our revenue share arrangement with strategos capital management llc ; and ( ii ) $ 90 dec rease in all other income , net . operating expenses operating expenses decreased by $ 16,324 , or 17 % , to $ 78,621 for the year ended december 31 , 2013 , as compared to $ 94,945 for the year ended december 31 , 2012 . as discussed in more detail below , the change was comprised of ( i ) a decrease of $ 15,784 in compensation and benefits ; ( ii ) an increase of $ 22 in business development , occupancy , and equipment ; ( iii ) a decrease of $ 624 in subscriptions , clearing , and execution ; ( iv ) a decrease of $ 38 of professional fee s and other operating ; and ( v ) an increase of $ 100 of depreciation and amortization . compensation and benefits compensation and benefits decreased by $ 15,784 , or 25 % , to $ 47,167 for the year ended december 31 , 2013 , as compared to $ 62,951 for the year ended december 31 , 2013 . replace_table_token_13_th cash compensation and benefits in the table above is primarily comprised of salary , incentive compensation , and

