Full text of BOENNING & SCATTERGOOD, INC.'s X-17A-5 filed 2021-03-31 (period 2020-12-31). Broker-dealer annual report from SEC EDGAR — readable, searchable, and available as markdown for AI agents.
{0}------------------------------------------------ #### **(1) Nature of Business** Boenning & Scattergood, Inc. ("the Company") is a registered broker-dealer and investment advisor with the Securities and Exchange Commission ("SEC") and is a registered broker-dealer with the Financial Industry Regulatory Authority ("FINRA"). The Company operates under the 1914 Advisors name for its investment advisory business. The Company is a wholly owned subsidiary of Boenning & Scattergood Holdings, Inc. ("Holdings" or "the Parent"). The Company operates under the provisions of Paragraph (k)(2)(ii) of Rule 15c3-3 of the Securities Exchange Act of 1934 and, accordingly, claims exemption from the remaining provisions of that rule. The Company executes and clears its customer securities transactions on a fully disclosed basis with a single clearing broker. The clearing broker carries all of the accounts of the customers and maintains and preserves all related books and records as are customarily kept by a clearing broker. The Company, like other broker-dealers and investment advisors, is directly affected by general economic and market conditions, including fluctuations in volume and price level of securities, and changes in interest rates and securities brokerage services, all of which have an impact on the Company's liquidity. ### **(2) Summary of Significant Accounting Policies** #### *Cash Equivalents* Bank deposits and highly liquid short term investments such as money market funds are considered cash equivalents. #### *Receivables* Receivables from clearing broker, related parties, and customers and other are carried at their estimated collectible amounts. In determining an estimated allowance for uncollectible amounts, the receivables are periodically evaluated for collectability based on known and inherent risks, and current economic conditions. #### *Securities Owned and Securities Sold, Not Yet Purchased, at Fair Value* Proprietary securities transactions are recorded on trade dates. Interest and dividend income is recorded when earned. {1}------------------------------------------------ #### *Securities Owned and Securities Sold, Not Yet Purchased, at Fair Value, continued* The Company may sell a security it does not own. When the Company sells a security short, it must borrow the security sold short and deliver it to the broker-dealer through which it made the short sale. Securities are recorded at fair value in accordance with Financial Accounting Standards…Read the full text as markdown