# OPAL SECURITIES, INC. X-17A-5 (2026-03-04) — Broker-dealer annual report
- Company: OPAL SECURITIES, INC.
- Form: X-17A-5
- Filed: 2026-03-04
- Period: 2025-12-31
- Accession: 0000316595-26-000005
- CIK: 316595
- File #: 8-24841
- Type: Broker-dealer
- Material weakness: Yes
- Auditor: Brian W. Anson
- Auditor location: Tarzana, CA
- Contact: Richard Onesto
- Phone: 3478536534
- Email: zach@opalsecurities.com
- Website: opalsecurities.com
- Signed by: Richard Onesto (FINOP)
Original filing: https://www.sec.gov/Archives/edgar/data/316595/000031659526000005/FINALFinancials2025Opal_1.pdf
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### OPAL SECURITIES, INC.
FINANCIAL STATEMENTS AND ACCOMPANYING SUPPLEMENTARY INFORMATION
> FOR THE YEAR ENDED DECEMBER 31, 2025
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### OPAL SECURITIES, INC.
#### Table of Contents
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549
OMB APPROVAL OMB Number: 3235-0123 Expires: Nov. 30, 2026 Estimated average burden hours per response: 12
# ANNUAL REPORTS FORM X-17A-5 PART II
| R
UM
BE |
|---------------|
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8-24841
FACING PAGE Information Required Pursuant to Rules 17a-5, 17a-12, and 18a-7 under the Securities Exchange Act of 1934 FILING FOR THE PERIOD BEGINNING 01/01/2025 MM/DD/YY AND ENDING A. REGISTRANT IDENTIFICATION 12/31/2025 MM/DD/YY NAME OF FIRM: Opal Securities, Inc TYPE OF REGISTRANT (check all applicable boxes): Broker-dealer Security-based swap dealer Major security-based swap participant Check here if respondent is also an OTC derivatives dealer ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use a P.O. box no.) 251 W 30th Street, 5th Floor New York (City) (No. and Street) NY (State) PERSON TO CONTACT WITH REGARD TO THIS FILING 10001 (Zip Code) Zachary Goldberg 845 494-6554 zach@opalsecurities.com (Name) (Area Code - Telephone Number) (Email Address) B. ACCOUNTANT IDENTIFICATION INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing\* Anson, Brian W. (Name - if individual, state last, first, and middle name) 18455 Burbank Blvd # 404 Tarzana CA 91356 (Address) (City) (State) (Zip Code) 09/15/2005 2370 (Date of Registration with PCAOB)(if applicable) (PCAOB Registration Number, if applicable) FOR OFFICIAL USE ONLY
\* Claims for exemption from the requirement that the annual reports be covered by the reports of an independent public accountant must be supported by a statement of facts and circumstances relied on as the basis of the exemption. See 17 CFR 240.17a-5(e)(1)(ii), if applicable.
Persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
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#### OATH OR AFFIRMATION
| Zachary Goldberg | | swear (or affirm) that, to the best of my knowledge and belief, the | | | |
|-------------------------------------------------------------------------------------------------------------------------------------|--|---------------------------------------------------------------------|--|--|--|
| tinancial report pertaining to the firm of Opal Securities Inc. | | as of | | | |
| 12/31 | | 2 บุ๊ก | | | |
| partner, officer, director, or equivalent person, as the case may be, has any proprietary interest in any account classified soleiy | | | | | |
| as that of a customer. | | | | | |
Signature: Title-
CEO I
### This filing\*\* contains (check all applicable boxes):
- (a) Statement of financial condition.
- (b) Notes to consolidated statement of financial condition.
- (c) Statement of income (loss) or, if there is other comprehensive income in the period(s) presented, a statement of comprehensive income (as defined in § 210.1-02 of Regulation S-X).
- (d) Statement of cash flows.
- (e) Statement of changes in stockholders' or partners' or sole proprietor's equity.
- O (f) Statement of changes in liabilities subordinated to claims of creditors.
- (g) Notes to consolidated financial statements.
- (h) Computation of net capital under 17 CFR 240.15c3-1 or 17 CFR 240.18a-1, as applicable.
- [ (i) Computation of tangible net worth under 17 CFR 240.18a-2.
- {j} Computation for determination of customer reserve requirements pursuant to Exhibit A to 17 CFR 240.15c3-3.
- [] (k) Computation for determination of security-based swap reserve requirements pursuant to Exhibit B to 17 CFR 240.15c3-3 or Exhibit A to 17 CFR 240.18a-4, as applicable.
- □ (l) Computation for Determination of PAB Requirements under Exhibit A to § 240.15c3-3.
- (m) Information relating to possession or control requirements for customers under 17 CFR 240.15c3-3.
- □ (n) Information relating to possession or control requirements for security-based swap customers under 17 CFR 240.15c3-3(p)(2) or 17 CFR 240.18a-4, as applicable.
- worth under 17 CFR 240.15c3-1, 17 CFR 240.18a-1, or 17 CFR 240.18a-2, as applicable, and the reserve requirements under 17 CFR 240.15c3-3 or 17 CFR 240.18a-4, as applicable, if material differences exist, or a statement that no material differences exist.
- O (p) Summary of financial data for subsidiaries not consolidated in the statement of financial condition.
- | | Oath or affirmation in accordance with 17 CFR 240.17a-5, 17 CFR 240.17a-12, or 17 CFR 240.18a-7, as applicable.
- | (r) Compliance report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable.
- (s) Exemption report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable.
- @ (t) Independent public accountant's report based on an examination of the statement of financial condition.
- | | |ndependent public accountant's report based on an examination of the financial statements under 17 CFR 240.17a-5, 17 CFR 240.18a-7, or 17 CFR 240.17a-12, as applicable.
- [] (v) Independent public accountant's report based on an examination of certain statements in the compliance report under 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable.
- @ (w) Independent public accountant's report based on a review of the exemption report under 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable.
- | |} Supplemental reports on applying agreed-upon procedures, in accordance with 17 CFR 240.15c3-1e or 17 CFR 240.17a-12, as applicable.
- [] (y) Report describing any material inadequacies found to have existed since the date of the previous audit, or a statement that no material inadequacies exist, under 17 CFR 240.17a-12(k).
- □ (z) Other:
- \*\* To request confidential treatment of certain portions of this filing, see 17 CFR 240.17a-5(e)(3) or 17 CFR 240.18a-7(d)(2), as applicable.
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# BRIAN W. ANSON
Certified Public Accountant
18455 Burbank Blvd., Suite 406, Tarzana, CA 91356 · Tel. (818) 636-5660
### REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
To the Stockholder's and Board of Directors of Opal Securities, Inc.
### Opinion on the Financial Statements
I have audited the accompanying statement of financial condition of Opal Securities, Inc. as of December 31, 2025, the related statements of income, changes in stockholder's equity, and cash flows for the year then ended, and the related notes (collectively referred to as the financial statements). In my opinion, the financial statements present fairly, in all material respects, the financial position of Opal Securities, Inc. as of December 31, 2025, and the results of its operations and its cash flows for the year then ended in conformity with accounting principles generally accepted in the United States of America.
### Basis for Opinion
These financial statements are the responsibility of Opal Securities, Inc.'s management. My responsibility is to express an opinion on Opal Securities, Inc.'s financial statements based on my audit. I am a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and am required to be independent with respect to Opal Securities, Inc. in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.
I conducted my audit in accordance with the standards of the PCAOB. Those standards require that I plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. My audit included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. My audit also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. I believe that my audit provides a reasonable basis for my opinion.
### Auditor's Report on Supplemental Information
The information contained in Schedule I. II, and III ("Supplemental Information") has been subjected to audit procedures performed in conjunction with the Opal Securities, Inc.'s financial statements. Supplemental Information is the responsibility of Opal Securities, Inc.'s management. My audit procedures included determining whether the Supplemental Information reconciles to the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the Supplemental Information. In forming my opinion on Supplemental Information, I evaluated whether the Supplemental Information, including its form and content is presented in conformity with 17 C.F.R. § 240.17a-5. In my opinion, Schedules I, II, and III are fairly stated, in all material respects, in relation to the financial statements taken as a whole.
Brian W. Anson Certified Public Accountant I have served as Opal Securities, Inc.'s auditor since 2023. Tarzana, California February 27, 2026
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### OPAL SECURITIES, INC. Statement of Financial Condition December 31, 2025
#### ASSETS
| Cash and Cash Equivalents | 5,025,523
ಕೆ |
|---------------------------|-----------------|
| Accounts Receivable | 683,413 |
| Due From Clearing Firm | 1,563,040 |
| Clearing Firm Deposit | 267,400 |
| Other Assets | 3,656 |
| Total Assets | 7,543,032
ಕೆ |
### LIABILITIES AND STOCKHOLDER'S EQUITY
### LIABILITIES
| Accounts Payable and Accrued Expenses
Borrowing Cost Payable | S
75,861
4,169,203 |
|----------------------------------------------------------------------------------|--------------------------|
| Total Liabilities | 4,245,064 |
| STOCKHOLDER'S EQUITY | |
| Common Stock, no par value, 20,000 shares
authorized, issued, and outstanding | |
| Additional Paid-in-Capital | 430.506 |
| Retained Earnings | 2.867.462 |
| Total Stockholder's Equity | 3,297,968 |
| Total Liabilities and Stockholder's Equity | 7,543,032
ಲ್ಲಿ |
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# OPAL SECURITIES, INC. Statement of Income For the Year Ended December 31, 2025
#### REVENUES
| Commissions | S | 4,163,408 |
|---------------------------------------|---|------------|
| ECN Fees and Clearing Rebates | | 8,792,320 |
| Borrowing Cost Fees | | 28.401.905 |
| Realized Gains (Losses) on Securities | | 12,173 |
| Interest Income | | 1,919,306 |
| Total Revenues | | 43.289.112 |
### EXPENSES
| Borrowing Costs & Expenses | 19,439,388 |
|----------------------------------|-----------------|
| Brokerage Fees & Data Services | 777,125 |
| Clearing Fees | 1,215,561 |
| Payroll Expenses | 337,047 |
| Professional Fees | 126.685 |
| Regulatory Fees | 267,373 |
| Technology & Communication Costs | 11,815 |
| Other Operating Expenses | 62,446 |
| Total Expenses | 22,237,440 |
| | |
| | 6
01 021 199 |
NET INCOME
21,051,672 es
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### OPAL SECURITIES, INC. Statement of Changes to Stockholder's Equity for the Year Ended December 31, 2025
| | Additional | | | | | Total | | |
|------------------------------------|------------|---------------------------------------|----|----------------------|--------------|-------------------------|-------|--------------|
| | | Paid-In
Common
Stock
Capital | | Retained
Earnings | | Stockholder's
Equity | | |
| Beginning balance, January 1, 2025 | ಳಾ | | ಳಾ | 430,506 | ല്ല | 1,665,790 | S | 2,096,296 |
| Additional Capital | | | | | | | | |
| Distribution / Dividend | | | | | (19,850,000) | | | (19,850,000) |
| Net Income | | | | | 21,051,672 | | | 21,051,672 |
| Ending balance, December 31, 2025 | ક્ષ્ | | ਦਰ | 430,506 | es | 2,867,462 | સ્ત્ર | 3,297,968 |
{8}------------------------------------------------
# OPAL SECURITIES, INC. Statement of Cash Flows For the Year Ended December 31, 2025
### CASH FLOWS FROM OPERATING ACTIVITIES:
| Net Income | S | 21,051,672 |
|-----------------------------------------------------------------------------------|-------|--------------|
| Adjustments to reconcile net income to net cash provided by operating activities: | | |
| (Increase) decrease in assets | | |
| Account Receivables | | (317,924) |
| Due from Clearing Firm | | (723,354) |
| Clearing Firm Deposit | | (7,682) |
| Other Assets | | (1,212) |
| Increase (decrease) in liabilities | | |
| Accounts Payable and Accrued Expenses | | (21,175) |
| Borrowing Cost payables | | 981,257 |
| Total adjustments | | (90,090) |
| Net cash provided by operating activities | | 20,961,582 |
| CASH FLOWS FROM FINANCING ACTIVITIES: | | |
| Distributions/ Dividend | | (19,850,000) |
| Net cash used in financing activities | | (19,850,000) |
| Net increase in cash | | 1,111,582 |
| Cash and Cash Equivalents at beginning of year | | 3,913,941 |
| Cash and Cash Equivalents at end of year | ਦੇ ਦੇ | 5,025,523 |
| Supplemental Disclosures of Cash Flow Information | | |
| Cash Paid During the Year For: | | |
| Interest | સ્ત્ર | |
| Income taxes | ਦਿੱਤ | |
The accompanying notes are an integral part of these financial statements
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### Note 1: ORGANIZATION
Opal Securities, Inc. (a C-Corporation) (the "Company") was incorporated in the State of Pennsylvania on April 15, 1980. The Company is a broker-dealer registered with the Securities and Exchange Commission and is a member of the Financial Industry Regulatory Authority (FINRA).
In October of 2021, 100% of the Company's stock was sold to OS Holdings, Inc (the "Parent"). Subsequent to the sale, the Company underwent a name change from Southampton Investment Services, Inc. to Opal Securities, Inc. The Company has offices in New York, NY and Westlake Village, California.
The Company is approved to conduct business in equities, both listed and OTC equities, options and corporate debt. The Company conducts business as an introducing broker dealer. The Company does not carry customer funds or securities and operates pursuant to the (k)(2)(ii) exemption and clears all transactions through its clearing firm. Wedbush Securities.
### Note 2: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
### (a) Use of Estimates:
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (U.S. GAAP) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the financial statements. Actual results could differ from those estimates.
### (b) Cash and Cash Eguivalents
The Company considers as cash all short-term investments with an original maturity of three months or less to be cash equivalents. The Company maintains its cash in bank deposit accounts which at times, may exceed uninsured limits. The Company has not experienced any losses in such accounts. All of the Company's cash and cash equivalents are held at high credit quality financial institutions.
### (c) Basis of Accounting and Revenue Recognition (ASC 606)
The financial statements of the Company have been prepared on the accrual basis of accounting and, accordingly, reflect all significant receivables and other liabilities. Commissions income (and the recognition of related expenses), if any, are recorded on trade date basis.
ASC 606, Revenue from Contracts with Customers, was issued on May 28, 2014. ASC 606 provides guidance related to revenue from contracts with customers. Guidance applies to all contracts with customers, with the exception of the following transactions noted in ASC 606-10: lease contracts, insurance contracts, financial instruments and other contractual rights or obligations, guarantees, nonmonetary exchanges between entities in the same line of business. The Company applied ASC 606 at inception.
Revenue is measured based on a consideration specified in a contract with a customer, and excludes any sales incentives and amounts collected on behalf of third parties. The Company recognizes revenue when it satisfies a performance obligation by transferring control over a product or service to a customer. A performance obligation may be satisfied over time or at a point in time. Revenue from a performance obligation satisfied at a point in time is recognized at the point in time that the company determines the customer has obtained control over the promised good or service. The amount of revenue recognized reflects the consideration of which the Company expects to be entitled in exchange for the promised goods or services.
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### Note 2: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
The reportable segments of revenue generated by the Company are described below:
Commissions: This includes performance obligations related to transactions that are subject to SEA Rule 106-10 for renumeration that needs to be disclosed. It also includes any transaction when the Company is engaged as an agent. It does not include net gains or losses from transactions made by the Company when acting as a principal, or riskless principal.
Clearing Rebates. ECN Fees and Borrowing Cost Fees: As part its clearing agreement, the Company is charged various fees and borrowing costs associated with the trading activity of its customer base. These fees are passed through to the customer with an additional mark-up. Total revenue is considered to be cost plus the additional mark-up.
Realized Gains on Securities: Included in realized gains on securities are realized gains and losses from proprietary trading. There were no unrealized gains or losses as of December 31, 2025.
Interest Income: Included in interest interest earned on securities borrowings; margin interest; interest earned from customer bank sweep into FDIC insured products.
### (d) Fair Value Measurement
FASB ASC 820 defines fair value, establishes a framework for value, and establishes a fair value hierarchy which prioritized the inputs to valuation techniques. 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. A fair value measurement assumes that the transaction to sell the asset or liability or, in the absence of a principal market, the most advantageous market for the asset or liability. Valuation techniques that are consistent with the market, income or cost approach, as specified by FASB ASC 820 are used to measure fair value.
The fair value hierarchy prioritizes the inputs to valuation techniques used to measure fair value into three broad levels:
Level 1 - Valuations based on quoted prices in active markets for identical assets or liabilities that an entity has the ability to access.
Level 2 - Valuations based on quoted prices for similar assets and liabilities in active markets, quoted prices for identical assets and liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable data for substantially the full term of the assets or liabilities.
Level 3 - Valuations based on inputs that are supportable by little or no market activity and that are significant to the fair value of the asset or liability.
The Company had no financial instruments to measure for fair value as of December 31, 2025.
{11}------------------------------------------------
### Note 2: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
### (e) Lease Obligations
ASU 2016-02 requires recognition of both, a lease liability and a right-of-use asset for all leases at the commencement date (with the exception of short-term leases). ASU-2016-02 is effective for annual and interim periods beginning on or after December 15, 2018 and early adoption is permitted. As of December 31, 2025, the Company does not have any long-term lease commitments and during the year ended December 31, 2025, rent expense was \$0. The Company utilizes office space rented by the parent as a mailing address and branch office location. No rent is allocated to the Company for these services.
### Note 3: CONCENTRATIONS OF CREDIT RISK
The Company is engaged in various trading and brokerage activities in which counterparties primarily include broker-dealers, banks, and other financial institutions. In the event counterparties do not fulfill their obligations, the Company may be exposed to risk. The risk of default depends on the creditworthiness of the counter party or issuer of the instrument. It is Company's policy to review, as necessary, the credit standing of each counter party.
### Note 4: NET CAPITAL REQUIREMENT
The Company is subject to the uniform net capital Rule (Rule 15c3-1) of the Securities and Exchange Commission, which requires the maintenance of both minimum net capital and a maximum ratio of aggregate indebtedness to net capital. Minimum net capital is the greater of \$5,000 or 6 2/3 percent of aggregate indebtedness which is \$283,004. In this case the minimum net capital is \$283,004. As of December 31, 2025, the Company's net capital of \$2.788.992 exceeded the minimum net of \$283.004 by \$2,505.988, and the Company's ratio of aggregate indebtedness of \$4,245,064 to net capital was 1.52:1 which is less than the 15:1 maximum ratio required.
### Note 5: INCOME TAXES
For income tax purposes, the Company has elected to be is treated as a qualified subchapter S subsidiary. As a result. for tax purposes, the Company is not treated as a separate corporation and all assets, liabilities, items of income and expenses are treated as those of the parent. Accordingly, the Company did not record a provision for income taxes during the year ended December 31, 2025.
The Company's tax returns are subject to examination by taxing authorities in the jurisdictions in which it operates in accordance with the normal statute of limitations in the Company is subject to examination by the taxing agencies for fiscal years ended December 31, 2022, 2023 and 2024.
### Note 6: LITIGATION
The Company was not subject to any litigation during the period January 1, 2025, through December 31, 2025.
### Note 7: CREDIT LOSSES
Effective January 1, 2020, the Company adopted the provision of Accounting Standards Update 2016-13, financial Instruments - Credit Losses (Topic 326), which provides revised guidance on evaluating accounts and notes receivable and other financial instrument. The Company records accounts receivable when products or services are delivered and it is probable that payment will be received for services, and the Company does not record any interest or penalties on accounts receivable that are past due under the terms of the related arrangement or invoice until those amounts are received.
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### Note 7: CREDIT LOSSES (Continued)
Topic 326 requires companies to evaluate their financial instrument by recording an allowance for doubtful accounts and/or bad debt expense based on certain categories of instruments rather than a specific identification approach. The Company adopted the provisions of this standard using a method to estimate the allowance for doubtful accounts that considered both the aging of its accounts receivable and the projected loss rate of its receivables. The Company writes off accounts receivable, and the related allowance for doubtful accounts, when it becomes remote that payment for products or services will be received. The Company did not write off any investments for the year ended December 31, 2025.
#### Note 8: SEGMENT REPORTING
The Company is engaged in a single line of business as a securities broker-dealer, which is comprised of several classes of services, which are discussed in Note 2, revenue recognition. All services performed by the Company fall under their clearing agreement with their clearing broker, Wedbush Securities. The company has identified its CEO as the chief operating decision maker ("CODM"), who uses net income to evaluate the results of the business, predominantly in the forecasting process, to manage the Company. Additionally, the CODM uses excess net capital, which is not a measure of profit and loss, to make operational decisions while maintaining capital adequacy, such as whether to reinvest profits or pay dividends. The Company's operations constitute a single operating segment and therefore, a single reportable segment, because the CODM manages the business activities using information of the Company as a whole. The accounting policies used to measure the profit and loss of the segment are the same as those described in the summary of significant accounting policies. The company did not have any major external customers in 2024. All revenue segments and significant expenses for the year ended December 31, 2024 are disclosed on the Statement of Income.
#### Note 9: SUBSEQUENT EVENTS
Management has reviewed subsequent events through February 27, 2026, the date the financial statements were available to be issued and has determined that no adjustments are necessary to the amounts reported in the accompanying financial statements, nor have any subsequent events occurred, the nature of which would require disclosure. The Company took Capital Withdrawal on January 27, 2026 for \$3,000,000
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### OPAL SECURITIES, INC. Schedule I Statement of Net Capital December 31, 2025
| | Focus 12/31/25 | | | Audit 12/31/25 | Change | |
|------------------------------------------------|----------------|-----------|-------|----------------|--------|--|
| Stockholders' Equity, December 31, 2025 | ક્ષ્ | 3,297,968 | ಕ್ಕಾ | 3,297,968 | | |
| Less: Non-allowable Assets | | (508,976) | | (508,976) | | |
| Tentative net capital | | 2,788,992 | | 2,788,992 | | |
| Haircuts: | | | | | | |
| NET CAPITAL | | 2,788,992 | | 2,788,992 | | |
| Minimum net capital | | 283,004 | | 283,004 | | |
| Excess net capital | ક્ષ્મ | 2,505,988 | સ્ત્ર | 2,505,988 | | |
| Aggregate indebtedness | ਦ੍ ਭ | 4,245,064 | ಕಿ | 4,245,064 | | |
| Ratio of aggregate indebtedness to net capital | | 1.52 | | 1.52 | | |
Reconciliation: There were no noted differences between the audited financial statements and the focus filed at December 31, 2025.
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### OPAL SECURITIES, INC. December 31, 2025
# Schedule II
Determination of Reserve Requirements Under Rule 15c3-3 of the Securities and Exchange Commission
The Company is exempt from the Reserve Requirement of computation according to the provision of Rule 15c3-3 (k)(2)(ii).
#### Schedule III
Information Relating to Possession or Control Requirements Under Rule 15c3-3
The Company is exempt from the Rule 15c3-3 as it relates to Possession and Control requirements under the (k)(2)(ii) exemptive provision.
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### OPAL SECURITIES, INC.
### Exemption Report
OPAL SECURITIES, INC (the "Company") is a registered broker-dealer subject to Rule 17a-5 promulgated by the Securities and Exchange Commission (17 C.F.R. §240.17a-5, "Reports to be made by certain brokers and dealers"). This Exemption Report was prepared as required by 17
C.F.R. § 240.17a-5(d)(l) and (4). To the best of its knowledge and belief, the Company states the following:
(1) The Company claimed exemption from 17 C.F.R. § 240.15c3-3 under the following provisions of 17 C.F.R. §240.15c3-3 (k)(2)(ii)
(2) The Company met the identified exemption provisions in 17 C.F.R. §240.15c3-3
throughout the most recent year without exception.
(3) The Company is also filing this Exemption Report because the Company's other business activities contemplated by Footnote 74 of the SEC Release No. 34-70073 adopting amendments to 17 C.F.R. § 240.17a-5 are limited to: (1) conducting business in equites, both listed and OTC equities, options and corporate debt (1) did not directly or indirectly receive, hold, or otherwise owe funds or securities for or to customers, (other than money or other consideration received and promptly transmitted in compliance with paragraph (a) or (b)(2) of Rule 15c2-4 and/or funds received and promptly transmitted for effecting transactions via subscriptions on a subscription way basis where the funds are payable to the issuer or its agent and not to the Company); (2) did not carry accounts of or for customers; and (3) did not carry PAB accounts (as defined in Rule 15c3-3) throughout the year ending December 31, 2025 without exception.
The statement above was made to the best knowledge and belief of the undersigned.
OPAL SECURITIES, INC.
Bv: 3v 22
Zachary Goldberg Title: CEO Date: February 27th, 2026
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BRIAN W. ANSON Certified Public Accountant 18455 Burbank Blvd., Suite 406, Tarzana, CA 91356 · Tel. (818) 636-5660
### REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
Board of Directors Opal Securities. Inc. New York, New York
I have reviewed management's statements, included in the accompanying Exemption Report in which (1) Opal Securities, Inc., identified the following provisions of 17 C.F.R. §15c3-3(k) under which Opal Securities, Inc. claimed an exemption from 17 C.F.R. §240.15c3-3: (k) (2) (ii) (the "exemption provision") and (2) Opal Securities, Inc., stated that Opal Securities, Inc., met the identified exemption provision throughout the most recent year without exception. Opal Securities, Inc.'s management is responsible for compliance with the exemption and its statements.
The Company is also filing this Exemption Report because the Company's other business activities contemplated by Footnote 74 of SEC Release No. 34-70073 adopting amendments to 17 C.F.R. 240.17a-5 because it engages in (1) conducting business in equities, both listed and OTC equities, options and corporate debt, and the Company has represented that it does not and will not, (1) directly or indirectly receive, hold, or otherwise owe funds or securities for or to customers, (2) does not and will not carry accounts of or for customers and (3) does not and will not carry PAB accounts throughout the most recent year without exception.
My review was conducted in accordance with the standards of the Public Company Accounting Oversight Board (United States) and accordingly, included inquiries and other required procedures to obtain evidence about Opal Securities, Inc.'s compliance with the exemption provision. A review is substantially less in scope than an examination, the objective of which is the expression of an opinion on management's statements. Accordingly, I do not express such an opinion.
Based on my review, I am not aware of any material modifications that should be made to management's statements referred to above for them to be fairly stated, in all material respects, based on the provisions set forth in paragraph (k)(2)(ii) of Rule 15c3-3 under the Securities Exchange Act of 1934.
ian W. Anson Certified Public Accountant Tarzana, California February 27, 2026
Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.