Full text of VAN ECK SECURITIES CORPORATION's X-17A-5 filed 2021-02-26 (period 2020-12-31). Broker-dealer annual report from SEC EDGAR — readable, searchable, and available as markdown for AI agents.
{0}------------------------------------------------ (A Wholly Owned Subsidiary of Van Eck Associates Corporation) Notes to Statement of Financial Condition December 31, 2020 # **(1) Nature of Business** Van Eck Securities Corporatic:m (the "Company") is a wholly owned subsidiary of Van Eck Associates Corporation (the "Parent" or "VEAC") and a registered broker-dealer under the Securities and Exchange Act of 1934, as amended. Its business consists of acting as general distributor of and/or marketing agent for pooled investment vehicles, including the Van Eck Family of Funds ("Van Eck Funds") and exchange traded notes ("ETNs"). The Company does not hold funds or securities for, or owe money or securities to, customers. The Company is a registered broker-dealer with the Securities and Exchange Commission ("SEC") and is a member of the Securities Investor Protection Corporation ("SIPC"). The Financial Industry Regulatory Authority ("FINRA") is the Company's designated examining authority. # **(2) Summary of Significant Accounting Policies** # *(a) Basis of Presentation* The Company's Statement ofFinancial Condition has been prepared in accordance with U.S. generally accepted accounting principles ("US GAAP"), which require 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 Statement of Financial Condition. Actual results could differ from those estimates. Management believes that the estimates utilized in preparing the Statement of Financial Condition are reasonable and prudent. ## *(b) Cash and Cash Equivalents* All cash is held with one financial institution and is included in cash and cash equivalents on the Statement of Financial Condition. Cash equivalents, which the Company considers to be all highly liquid investments with a maturity of three months or less when purchased, are also included in cash and cash equivalents on the Statement of Financial Condition. As of December 31 , 2020, there were no such cash equivalents included on the Statement of Financial Condition. ## (c) *Investments in Marketable Securities* Marketable securities, which consist solely of mutual fund investments, are recorded at fair value based on the reported net asset value of the respective investment at the end of each business day. All securities transactions are recorded on a trade-date basis. The Company defines fair value as the price that would be re…Read the full text as markdown