# BROWN AND BROWN SECURITIES, INC. X-17A-5 (2026-03-02) — Broker-dealer annual report - Company: BROWN AND BROWN SECURITIES, INC. - Form: X-17A-5 - Filed: 2026-03-02 - Period: 2025-12-31 - Accession: 0000750953-26-000003 - CIK: 750953 - File #: 8-32385 - Type: Broker-dealer - Material weakness: No - Auditor: Sanville & Company - Auditor location: Dallas, TX - Contact: Alexis Brown - Phone: 2146961768 - Email: cbrown@bbfsi.net - Website: bbfsi.net - Signed by: Colon Brown (President) Original filing: https://www.sec.gov/Archives/edgar/data/750953/000075095326000003/bbsiannualauditfullchrome.pdf --- {0}------------------------------------------------ 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 III FACING PAGE | hours per response: 12 | | |------------------------|--| | | | | SEC FILE NUMBER | | | 8-32385 | | | A. REGISTRANT IDENTIFICATION | | | | | | |-----------------------------------------------------------------------------------------------------------|------------|------------|------------|--|--| | | MM/DD/YY | | MM/DD/YY | | | | FILING FOR THE PERIOD BEGINNING | 01/01/2025 | AND ENDING | 12/31/2025 | | | | Information Required Pursuant to Rules 17a-5, 17a-12, and 18a-7 under the Securities Exchange Act of 1934 | | | | | | Brown & Brown Securities, Inc. NAME OF FIRM: TYPE OF REGISTRANT (check allapplicable boxes): Broker-dealer ☐ Security-based swap dealer Check here if respondent is also an OTC derivatives dealer Major security-based swap participant ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use a P.O. box no.) # 6440 North Central Expressway, Suite 107 | | | (No. and Street) | | | | |---------------------------------------------------------------------------|--------------------------------|------------------------------------------------------------|-----------------|--------------------------------------------|--| | Dallas | | TX | | 75206 | | | (City) | | (State) | | (Zip Code) | | | PERSON TO CONTACT WITH REGARD TO THIS FILING | | | | | | | Alexis Brown | | 2146961768 | | cbrown@bbfsi.net | | | (Name) | (Area Code - Telephone Number) | | (Email Address) | | | | | | | | | | | INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing* | | B. ACCOUNTANT IDENTIFICATION | | | | | Sanville & Company, LLC | | | | | | | | | (Name - if individual, state last, first, and middle name) | | | | | 325 N. St. Paul St. #3100 | | Dallas | TX | 75201 | | | (Address) | | (City) | (State) | (Zip Code) | | | 09/18/2003 | | | 169 | | | | (Date of Registration with PCAOB)(if applicable) | | | | (PCAOB Registration Number, if applicable) | | \* 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. {1}------------------------------------------------ #### OATH OR AFFIRMATION ا Colon Brown swear (or affirm) that, to the best of my knowledge and belief, the financial report pertaining to the firm of Brown & Brown Securities, Inc. as of March 2 2026, is true and correct. I further swear (or affirm) that neither the company nor any partner, officer, director, or equivalent person, as the case may be, has any proprietary interest in any account classified solely as that of a customer. ![](_page_1_Picture_5.jpeg) | | Signature:Cln
B | |-------------|--------------------| | Titlesident | PRitS, DENT | ## This filing\*\* contains (check all applicable boxes): - (a) Statement of financial condition. - (b) Notes to consolidated statement of financial condition. - Π (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. - Π (e) Statement of changes in stockholders' or partners' or sole proprietor's equity. - (f) Statement of changes in liabilities subordinated to claims of creditors. - (g) Notes to consolidated financial statements. - Π (h) Computation of net capital under 17 CFR 240.15c3-1 or 17 CFR 240.18a-1, as applicable. - ㅁ (i) Computation of tangible net worth under 17 CFR 240.18a-2. - Π (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. - (1) Computation for Determination of PAB Requirements under Exhibit A to § 240.15c3-3. - Π (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. - (o) Reconciliations, including appropriate explanations, of the FOCUS Report with computation of net capital or tangible net 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. - (p) Summary of financial data for subsidiaries not consolidated in the statement of financial condition. - (q) Oath or affirmation in accordance with 17 CFR 240.17a-5, 17 CFR 240.17a-12, or 17 CFR 240.18a-7, as applicable. - 미 (r) Compliance report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. - Π (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. - Π (u) Independent public accountant's report based on an examination of the financial report or financial statements under 17 CFR 240.17a-5, 17 CFR 240.18a-7, or 17 CFR 240.17a-12, as applicable. - 미 (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. - (x) 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 exist or 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. {2}------------------------------------------------ | | a forces rates and a line a le man a commission and accession | | | | | |--|---------------------------------------------------------------|--|--|--|--| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | State of the state of the states and the states of the states | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Martines and superior as for comments of the lamine | | | | | {3}------------------------------------------------ #### BROWN & BROWN SECURITIES, INC. REPORT PURSUANT TO RULE 17a-5(d) YEAR ENDED DECEMBER 31, 2025 {4}------------------------------------------------ ## BROWN & BROWN SECURITIES, INC. #### CONTENTS | | | PAGE | | | |----------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------|--|--| | REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM | | | | | | STATEMENT OF FINANCIAL CONDITION | | 3 | | | | STATEMENT OF OPERATIONS | | 4 | | | | | STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY | 5 | | | | STATEMENT OF CASH FLOWS | | 6 | | | | NOTES TO FINANCIAL STATEMENTS | | 7-9 | | | | SUPPLEMENTAL INFORMATION | | | | | | Schedule l: | Computation of Net Capital Under Rule 15c3-1
of the Securities and Exchange Commission | 10-11 | | | | | Schedule Il & III: Computation For Determination Of Reserve Requirements
and Information Relating to Possession or Control Requirements
Under Rule 15c3-3 of the Securities and Exchange Commission | 12 | | | | REVIEW REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
ON MANAGEMENT'S EXEMPTION REPORT | | | | | | MANAGEMENT'S EXEMPTION REPORT | | 14 | | | {5}------------------------------------------------ ![](_page_5_Picture_0.jpeg) ## Report of Independent Registered Public Accounting Firm To the Stockholders' and Those Charged With Governance Brown and Brown Securities, Inc. ## Opinion on the Financial Statements We have audited the accompanying statement of financial condition of Brown and Brown Securities, Inc. (the Company) as of December 31, 2025, the related statements of operations, changes in stockholder's equity, and cash flows for the year then ended, and the related notes to the financial statements (collectively, the financial statements). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company 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 the Company's management. Our responsibility is to express an opinion on the Company's financial statements based on our audit. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Company in accordance with U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB. We conducted our audit in accordance with the standards of the PCAOB. Those standards require that we 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. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audit, we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control over financial reporting. Accordingly, we express no such opinion. Our 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. Our 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. We believe that our audit provides reasonable basis for our opinion. a #### Supplemental Information The supplementary information contained in Schedule I, Computation of Net Capital Under SEC Rule 15c3-1, Schedule II, Computation for Determination of Reserve Requirements Under SEC Rule 15c3-3, and Schedule III, Information Relating to the Possession or Control Requirements Under SEC Rule 15c3-3 has been subjected to audit procedures performed in conjunction with the audit of the Company's financial statements. The supplemental information is the > 325 North Saint Paul Street Suite 3100 Dallas, Texas 75201 214.738.1998 {6}------------------------------------------------ responsibility of the Company's management. Our 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 our opinion on the supplemental information, we evaluated whether the supplemental information, including its form and content, is presented in conformity with 17 C.F.R. § 240.17a-5. In our opinion, the supplementary information contained in Schedule I, Computation of Net Capital Under SEC Rule 15c3-1, Schedule II, Computation for Determination of Reserve Requirements Under SEC Rule 15c3-3, and Schedule III, Information Relating to the Possession or Control Requirements Under SEC Rule 15c3-3 is fairly stated, in all material respects, in relation to the financial statements as a whole. We have served as the Company's auditor since Sanvills & Company, LLC Sanville & Company, LLC Dallas, Texas March 2, 2026 {7}------------------------------------------------ ## BROWN & BROWN SECURITIES, INC. Statement of Financial Condition December 31, 2025 ## ASSETS | Cash
Deposit with clearing organization
Investments, at fair value
Commissions receivable | \$
61,654
26,238
323,040
50,191 | |---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------------------------------------------| | Total assets | \$ 461.123 | | LIABILITIES AND STOCKHOLDERS' EQUITY | | | Liabilities
Accounts payable - related party | 48,100 | | Total liabilities | 48,100 | | Stockholders' equity
Common stock, 1,000,000 shares
authorized with \$.01 par value,
26,000 shares issued and outstanding
Additional paid-in capital
Retained earmings | 260
25.740
387.023 | | Total stockholders' equity | 413,023 | | Total liabilities & stockholders' equity | \$
461.123 | The accompanying notes are an integral part of these financial statements. {8}------------------------------------------------ ## BROWN & BROWN SECURITIES, INC. Statement of Operations For the Year Ended December 31, 2025 | Revenues
Distribution fees
Securities commissions
Dividend income
Interest income | \$
443,181
45,334
11,199
16,863 | |-------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------------------------------------------------| | Trading loss | 7,727 | | Total revenues | 524,304 | | Expenses
Administrative expenses
Licenses and permits
Bonding expenses
Professional fees
Commissions and clearance
Regulatory fees and expenses | 445,000
1,373
1,594
9,750
5,911
5,706 | | Total expenses | 469.334 | | Net Income | \$ 54.970 | The accompanying notes are an integral part of these financial statements. {9}------------------------------------------------ ## BROWN & BROWN SECURITIES, INC. Statement of Changes in Stockholders' Equity For the Year Ended December 31, 2025 | | Additional | | | | | | | | | | |----------------------------------|------------|--|-----------------|--|--------------------|----|---------------------|----|---------|--| | | Shares | | Common
Stock | | Paid in
Capital | | Retained
Eamings | | Total | | | Balances at
December 31, 2024 | 26,000 \$ | | 260 \$ | | 25,740 | \$ | 332,053 | \$ | 358,053 | | | Net income | | | | | | | 54,970 | | 54,970 | | | Balances at
December 31, 2025 | 26,000 \$ | | 260 \$ | | 25,740 \$ | | 387,023 | \$ | 413,023 | | The accompanying notes are an integral part of these financial statements. {10}------------------------------------------------ ## BROWN & BROWN SECURITIES, INC. Statement of Cash Flows For the Year Ended December 31, 2025 | Cash flows from operating activities
Net income
Trading gain
Adjustments to reconcile net income to net cash
provided (used) by operating activities: | | | \$ 54,970
(7,727) | | | | |------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----|--|-----------------------------------------|--|--|--| | Change in assets and liabilities:
Increase in deposit with clearing organization
Increase in investments, at fair value
Increase in commissions receivable
Increase in accounts payable
- related party | | | (165)
(50,479)
(12,278)
16,500 | | | | | Net cash provided by operating activities | | | 821 | | | | | Cash flows from investing activities | | | | | | | | Net cash provided by investing activities | | | | | | | | Cash flows from financing activities | | | | | | | | Net cash provided by financing activities | | | | | | | | Net decrease in cash | | | 821 | | | | | Cash at beginning of year | | | 60.833 | | | | | Cash at end of year | | | \$ 61.654 | | | | | Supplemental Disclosure of Cash Flow Information | | | | | | | | Cash paid (received) during the year for: | | | | | | | | Interest | \$ | | | | | | | Income taxes | | | \$- | | | | The accompanying notes are an integral part of these financial statements. {11}------------------------------------------------ ## BROWN & BROWN SECURITIES, INC. Notes to Financial Statements December 31, 2025 ## Note 1 - Summary of Significant Accounting Policies Brown & Brown Securities, Inc. (the "Company") is a broker-dealer in securities registered with the Securities and Exchange Commission ("SEC") and is a member of the Financial Industry Regulatory Authority ("FINRA"). The Company operates under ("SEC") Rule 15c3-3 (k)(2)(ii) for a portion of its operating activities and is considered a "non-covered firm" by relying on footnote 74 to SEC Release 34-70073 for the other portion of its operating activities, which provides that all funds and securities belonging to the Company's customers would be handled by a clearing broker-dealer or that the Company does not receive customer funds or securities to complete transactions. The Company is a Texas corporation, and its customers are located throughout the United States. ## Revenue Recognition Security transactions (and related commission revenue and expense) are recorded on a trade date basis as securities transactions occur. ## Compensated Absences Compensated absences have not been accrued because the amount cannot be reasonably estimated. #### Receivable From Broker-Dealers and Clearing Organizations Receivables from broker-dealers and clearing organizations are generally collected in full in the month following their accrual. As such, management has not recorded an allowance for doubtful accounts on these receivables. Any receivables deemed uncollectible are written off against the allowance. At December 31, 2025 there were no amounts receivable from registered representatives. #### Income Taxes The Company has elected S Corporation status with the Internal Revenue Service. In lieu of a provision for income taxes, the shareholders of an S Corporation are taxed on their proportionate share of the Company's taxable income. ## Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. #### Investments Investments are recorded at their quoted fair value. The increase in net unrealized appreciation or depreciation of securities is credited or charged to operations as trading income or loss. #### Note 2 - Net Capital Requirements Pursuant to the net capital provisions of Rule 15c3-1 of the Securities Exchange Act of 1934, the Company is required to maintain a minimum net capital, as defined under such provisions. Net capital and the related net capital ratio may fluctuate on a daily basis. At December 31, 2025, the Company had net capital of approximately \$393,640 and net capital requirements of \$50,000. The Company's ratio of aggregate indebtedness to net capital was 0.1 to 1. The Securities and Exchange Commission permits a ratio of no greater than 15 to 1. {12}------------------------------------------------ ## BROWN & BROWN SECURITIES, INC. Notes to Financial Statements December 31, 2025 #### Note 3 - Fair Value Measurements The Company uses various methods including market, income and cost approaches to determine fair value. Based more approach, the Company often utilizes certain assumptions that market participants would use in pricing the asset or liability, including assumptions about risk and or the risks inherent in the inputs to the valuation technique. These inputs can be readily observable, market corroborated, or generally unobservable inputs. The Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs. Based on the observability of the inputs used in the valuation techniques the Company is required to provide the following information according to the fair value hierarchy. The fair value hierarchy ranks the quality and reliability of the information used to determine fair values. Financial assets and liabilities carried at fair value will be classified and disclosed in one of the following three categories: Level 1 - Valuations for assets and liabilities traded in active exchange markets, such as the New York Stock Exchange. Level 1 also includes U.S. Treasury and federal agency securities and federal agency mortgage-backed securities, which are traded by dealers or brokers in active markets. Valuations are obtained from readly available pricing sources for market transactions involving identical assets or liabilities. Level 2 - Valuations for assets and liabilities traded in less active dealer or broker markets. Valuations are obtained from third party pricing services for identical or similar assets or liabilities. Level 3 – Valuations for assets and liabilities that are derived from other valuation methodologies, including option pricing models, discounted cash flow models and similar techniques, and not based on market exchange, dealer, or broker traded transactions. Level 3 valuations incorporate certain assumptions and projections in determining the fair value assigned to such assets or liabilities. #### Investments in securities, at fair value | Investments in: | ofal | | revel " | Level 2 | revel 3 | | | |-----------------|------|---------|---------|---------|---------|--|--| | Mutual funds | | 323.040 | 323,040 | | | | | | Totals | | 323.040 | 323,040 | | | | | There were no transfers between Levels 1, 2, or 3 during the year. ## Note 4 - Commitments and Contingencies Included in the Company's clearing agreement with its clearing broker-dealer, is an indemnification clause. This clause relates to instances where the Company's customers fail to settle security transactions. In the event this occurs, the Company will indemnify the clearing broker-dealer to the net loss on the unsettled trade. As of December 31, 2025, management of the Company had not been notified by the clearing broker-dealer, nor were they otherwise aware, of any potential losses relating to this indemnification. ## Note 5 - Revenue Recognition Revenues are recognized when control of the promised services is transferred to customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those services. Revenues are analyzed to determine whether the Company is the principal (i.e., reports revenues on a gross basis) or agent (i.e., reports revenues on a net basis) in the contract. Principal or agent designations depend primarily on the control an entity has over the product or service before control is transferred to a customer. {13}------------------------------------------------ ## BROWN & BROWN SECURITIES, INC. Notes to Financial Statements December 31, 2025 #### Note 5 - Revenue Recognition, continued #### Securities Commissions Commission revenue is generally recognized at a point in time upon delivery of contracted services based on a predefined contractual amount on a trade date for a trade execution services based on providing market prices and internal and regulatory guidelines. Commission revenue consists of the sale of equity and fixed income securities and unit investment trusts. #### Distribution Fees The Company earns revenue for selling affiliated mutual funds, fixed variable annuities and insurance products. The performance obligation is satisfied at the time of each individual sale. A portion of the revenue is based on a fixed rate applied, as a percentage, to amounts invested at the remaining revenue is recognized over the time the client owns the investment or holds the contract and is generally earned based on a fixed rate applied, as a percentage, to the net asset value of the value of the insurance policy or annuity contract. The ongoing revenue is not recognized at the time of sale because it is variably constrained due to factors outside the Company's control including market volatility and client behavior (such as how long clients hold their investment, insurance policy or annuity contract). The revenue will not be recognized until it is probable that a significant reversal will not ocur. #### Note 6 - Related Party Transactions The Company is subject to a service agreement with an affiliate under common control. The service agreement specifies that the Company will reimburse its affiliate 90% of the gross profit each month, unless such amount would leave the Company without sufficient cash to pay its expenses or would cause a violation of the Company's net capital requirement. During the year the Company incurred \$445,000 in expenses associated with this agreement, of which \$48,100 was considered payable at year-end. #### Note 7 - Segment Reporting The Accounting Standards Update (ASU) 2023-07 issued by the Financial Accounting Standards Board (FASB) introduced enhancements to segment requirements for public entities, including broker-dealers. The update aimed to improve the transparency and usefulness of financial disclosures for investors and other stakeholders. ASU 2023-07 disclosure requirements are effective for fiscal years starting after December 15, 2024. The chief operating decision maker is the President of the Company and determined that no additional disclosures are required as the Company has only one reportable segment. {14}------------------------------------------------ Supplementary Information Pursuant to Rule 17a-5 of the Securities Exchange Act of 1934 as of December 31, 2025 {15}------------------------------------------------ ## Schedule i ## BROWN & BROWN, INC. Computation of Net Capital Under Rule 15c3-1 of the Securities and Exchange Commission As of December 31, 2025 | COMPUTATION OF NET CAPITAL | | |------------------------------------------------------------------------------------|---------------| | Total stockholders' equity qualified for net capital | 413.023
કે | | Add:
Other deductions or allowable credits | | | Total capital and allowable subordinated liabilities | 413,023 | | Deductions and/or charges | | | Net capital before haircuts on securities positions | 413,023 | | Haircuts on securities (computed, where applicable,
pursuant to Rule 15c3-1(f)) | (19,383) | | Net capital | 393.640 | | AGGREGATE INDEBTEDNESS | | | Items included in statement of financial condition: | | | Accounts payable - related party | es
48.100 | | Total aggregate indebtedness | 48.100 | {16}------------------------------------------------ ## Schedule I (continued) ## BROWN & BROWN SECURITIES, INC. Computation of Net Capital Under Rule 15c3-1 of the Securities and Exchange Commission As of December 31, 2025 ## COMPUTATION OF BASIC NET CAPITAL REQUIREMENT | Minimum net capital required (6 2/3% of total
aggregate indebtedness) | | |-------------------------------------------------------------------------------|---------| | Minimum dollar net capital requirement of
reporting broker or dealer | 50 000 | | Net capital requirement (greater of above two
minimum requirement amounts) | 50.000 | | Net capital in excess of required minimum | 343 640 | | Ratio: Aggregate indebtedness to net capital | .1 to 1 | There are no material differences between the amounts presented above and the amounts reported on the Company's FOCUS report as of December 31, 2025. {17}------------------------------------------------ #### Schedule II & III ## BROWN & BROWN SECURITIES, INC. Computation For Determination Of Reserve Requirements And Information Relating To Possession Or Control Requirements Under Rule 15c3-3 of the Securities and Exchange Commission December 31, 2025 The Company is exempt from Securities Exchange Commission ("SEC") Rule 15c3-3 pursuant to both the exemplive provisions of sub-paragraph (k)(2)(ii) and is considered a "Non-Covered Firm" from 15c3-3 by relying on footnote 74 to SEC Release 34-70073 and therefore, is not required to maintain a "Special reserve bank account for the Exclusive benefit of customers." {18}------------------------------------------------ Report of Independent Registered Public Accounting Firm On Management's Exemption Report Required By SEC Rule 17a-5 Year Ended December 31, 2025 {19}------------------------------------------------ ![](_page_19_Picture_0.jpeg) #### Report of Independent Registered Public Accounting Firm To the Stockholders' and Those Charged With Governance Brown and Brown Securities, Inc. We have reviewed the accompanying Exemption Report of Brown and Brown Securities, Inc. (the Company) as of and for the fiscal year ended December 31, 2025, in which management asserts that: 1. Pursuant to paragraph (k)(2)(ii) of 17 C.F.R. § 240.15c3-3, the Company claimed an exemption from 17 C.F.R. § 240.15c3-3 throughout the fiscal year ended December 31, 2025; 2. The Company limited its securities business activities throughout the fiscal year ended December 31, 2025 to: (1) acting as a mutual fund retailer (2) acting as a broker or dealer selling variable life insurance or annuities (3) acting as a broker or dealer selling tax shelters or limited partnerships in primary distributions (4) offering fixed interest rate insurance products (5) offering federally insured certificates of deposits and CDARS; and 3. Throughout the fiscal year ended December 31, 2025, the Company: (i) did not receive, hold, or owe funds or securities for or to customers (except amounts received and promptly transmitted in accordance with 17 C.F.R. § 240.15c2-4(a) or (b)(2)); (ii) did not cary accounts of or for customers; and (ii) did not carry proprietary accounts of other broker-dealers (as defined in 17 C.F.R. § 240.15c3-3). Management of the Company is responsible for the assertions in the Exemption Report and for compliance with the applicable requirements. We conducted our review in accordance with attestation standards established by the Public Company Accounting Oversight Board (United States). A review is substantially less in scope than an examination, the objective of which is the expression of an opinion on management's assertions. Accordingly, we do not express such an opinion. Based on our review, nothing came to our attention that caused us to believe that management's assertions referred to above are not fairly stated, in all material respects, based on the criteria set forth in paragraph (k)(2)(ii) of Rule 15c3-3 under the Securities Exchange Act of 1934 and the requirements set forth in Footnote 74 of SEC Release No. 34-70073 and related provisions of Rule 17a-5. Sanville of Company, Sanville & Company, LLC Dallas, Texas March 2, 2026 325 North Saint Paul Street Suite 3100 Dallas, Texas 75201 214.738.1998 {20}------------------------------------------------ ## Brown & Brown Securities, Inc. Exemption Report Brown & Brown Securities, Inc. (the "Company") is a registered broker-dealer subject to Rule 17a-5 promulated by Brown & Blown Securities and Exchange Company , C.F.R. §240.17a-5, "Reports to be made by certain and All Tothers and dealers"). This Exemption Reported as required by 17 C.F.R. §240.17a-5(d)(1) and (4). To the best of its knowledge and belief, the Company states the following: - (1) The Company claimed an 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(k) throughout the most recent fiscal year without exception. - (3) The Company is considered "Non-Covered Firm" exempt from 17 C.F.R. §240.15c3-3 and is filing an Exemption Report relying on foothote 74 to SEC Release 34-70073, and as discussed in Q&A 8 of the related FAQ issued by the SEC staff. The Company limits its business activities exclusively to: (1) acting as a mutual f not retailer (2) acting as a broker or dealer selling variable life insurance or annuities (3) acting as a broker or dealer selling tax shelters or limited partnerships in primary distributions (4) offering fixed interest rate insurance products (5) offering federally insured certificates of deposits and CDARS. - (4) The Company (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; (2) did not carry accounts of or for customers; and (3) did not carry PAB accounts (as defined in Rule 15c3-3), throughout the most recent fiscal year without exception. l, Colon Brown, swear (or affirm) that, to my best knowledge and belief, this exemption report is true and correct. Regards, President Date of Report February 26, 2026 Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.