Full text of ROTHSCHILD & CO US INC.'s X-17A-5 filed 2021-03-15 (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 Rothschild & Co North America Inc.) Notes to Statement of Financial Condition As of December 31, 2020 ### (1) Organization Rothschild & Co US Inc. (the Company) is a wholly-owned subsidiary of Rothschild & Co North America Inc. (the Parent, which is an indirect subsidiary of Rothschild & Co (the ultimate parent)). The Company is registered as a broker-dealer with the Securities and Exchange Commission (SEC) and is a member of the Financial Industry Regulatory Authority (FINRA) and the Securities Investor Protection Corporation (SIPC). The Company's activities and sources of revenue include financial advisory services for mergers & acquisitions, restructuring, debt advisory, and equity advisory. Our focus throughout the COVID-19 crisis has been and remains the safety and welfare of our colleagues and the needs of our clients. At the outset in March 2020, we were able to move quickly into a home-working setup for all of our employees without a major impact on productivity. The majority of our employees continue to work remotely. However, there remains uncertainty as to how the course of the pandemic may impact the markets and our clients' needs in the future. ### (2) Summary of Significant Accounting Policies #### Basis of Presentation (a) The Company's statement of financial condition has been prepared in conformity with U.S. Generally Accepted Accounting Principles (U.S. GAAP). All amounts are denominated in U.S. dollars. Transactions denominated in foreign currencies are translated into U.S. dollars using applicable exchange rates. ## (b) Cash and Cash Equivalents Cash and cash equivalents include interest-bearing deposits having original maturities of less than three months of \$149,802,300 and money market funds of \$12,888,500. All of the Company's cash and cash equivalents are held at two major financial institutions and therefore are subject to the credit risks of the financial institutions. ### (c) Securities Owned, at Fair Value Securities transactions are recorded on a trade-date basis. Securities are carried at fair value on the statement of financial condition. Accounting Standards Codification Topic 820 (ASC 820), Fair Value Measurements, defines fair value and establishes a consistent framework for measuring fair value in accordance with U.S. GAAP. See Note 3 for a complete discussion of the impact of ASC 820 on the Company's statement of financial condition. ###…Read the full text as markdown