# FIMCO SECURITIES GROUP, INC. X-17A-5 (2023-03-31) — Broker-dealer annual report - Company: FIMCO SECURITIES GROUP, INC. - Form: X-17A-5 - Filed: 2023-03-31 - Period: 2022-12-31 - Accession: 0000887740-23-000001 - CIK: 887740 - File #: 8-44863 - Type: Broker-dealer - Material weakness: No - Auditor: Davila Advisory LLC - Auditor location: St .Louis, MO - Contact: Fred Henry - Phone: 4147028872 - Email: fredhenry@fisecfi.com - Website: fisecfi.com - Signed by: Fred Henry (President) Original filing: https://www.sec.gov/Archives/edgar/data/887740/000088774023000001/fimcoaudit22.pdf --- {0}------------------------------------------------ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 OMB APPROVAL OMB Number: 3235-0123 Expires: Oct. 31, 2023 Estimated average burden hours per response: 12 ## ANNUAL REPORTS FORM X-17A-5 PART III | All J PCI I CJUDIIJC. | | |-----------------------|--| | | | | SEC FILE NUMBER | | | 8-44863 | | FACING PAGE Information Required Pursuant to Rules 17a-5, 17a-12, and 18a-7 under the Securities Exchange Act of 1934 \_AND ENDING\_12/31/22 filing for the period beginning 1/1/22 MM/DD/YY MM/DD/YY A. REGISTRANT IDENTIFICATION # NAME OF FIRM: FIMCO Securities Group, Inc TYPE OF REGISTRANT (check all applicable boxes): ത Broker-dealer [ ] Check here if respondent is also an OTC derivatives dealer ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use a P.O. box no.) # 110 South Wisconsin St. Unit 2G | | | (No. and Street) | | | |--------------------------------------------------------------------------------------------------|------------------------------------------------------------|--------------------------------------------|-----------------------|------------| | Port Washington | | WI | | 53074 | | (City) | | (State) | | (Zip Code) | | PERSON TO CONTACT WITH REGARD TO THIS FILING | | | | | | Fred Henry | 414-702-8872 | | fredhenry@fisecfi.com | | | (Name) | | (Area Code - Telephone Number) | (Email Address) | | | | | B. ACCOUNTANT IDENTIFICATION | | | | INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing*
Davila Advisory LLC | | | | | | | (Name - if individual, state last, first, and middle name) | | | | | 10135 Manchester Rd, Ste 206 St. Louis | | | MO | 63122 | | (Address) | (City) | | (State) | (Zip Code) | | | | | 6667 | | | (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 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 I. Frederick Henry , swear (or affirm) that, to the best of my knowledge and belief, the financial report pertaining to the firm of FIMCO Securities Group, Inc , as of 12/31 , 2022 \_ , is true and correct. I further swear (or affirm) that neither the company nor any m, as the case m ARY PUBLICHINIMILIAN ARY PUBLICHING ARY PUBLIC 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. ARY PUB Signature: KEITH Title: BORLICK E OF WIS Notary Public ### 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. - (f) Statement of changes in liabilities subordinated to claims of creditors. - (g) Notes to consolidated financial statements. - = - [ ] (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. - | Exhibit A to 17 CFR 240.18a-4, as applicable. - | (1) 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. - O (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 capible net worth under 17 CFR 240.15c3-1, 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-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. - @ (u) Independent 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. - ا (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 240.17a-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. {2}------------------------------------------------ FIMCO Securities Group, Inc # Financial Statements and Supplementary Information December 31, 2022 {3}------------------------------------------------ # AUDITED FINANCIAL STATEMENTS ### TABLE OF CONTENTS Page | SEC Form X-17A-5 | 1 - 2 | |---------------------------------------------------------------------------------------------|-------| | Report of Independent Registered Public Accounting Firm | 3 | | Statement of Financial Condition | 4 | | Statement of Income | 5 | | Statement of Changes in Stockholder's Equity | 6 | | Statement of Cash Flows | 7 | | Notes to Financial Statements | 8-9 | | Schedule I: Net Capital Under Rule 15c3-1 and Computation of Aggregate Indebtedness | 10 | | Schedule II: Computation for Determination of Reserve Requirements Under Rule 15c3-3 | 11 | | Schedule III: Information Relating to Possession and Control Requirements Under Rule 15c3-3 | 12 | | Report of Independent Registered Public Accounting Firm | 13 | | Exemption Report | 14 | {4}------------------------------------------------ ![](_page_4_Picture_0.jpeg) ### REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM Shareholder of FIMCO Securities Group, Inc. ### Opinion on the Financial Statements We have audited the accompanying statement of financial condition of FIMCO Securities Group, Inc. (the "Company") as of December 31, 2022, and the related statements of income, changes in stockholder's equity and cash flows for the year then ended notes (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of FIMCO Securities Group, Inc. as of December 31, 2022, 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 the 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. 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 a reasonable basis for our opinion. ### Auditor's Report on Supplemental Information The information in Schedules I, II, and III (the "supplemental information") has been subjected to audit procedures performed in conjunction with the audit of the Company's financial statements. The supplemental information is the 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 supplemental in Schedules I, II, and III is fairly stated, in all material respects, in relation to the financial statements as a whole. We have served as FIMCO Securities Group, Inc.'s auditor since 2021. 1)avila Advisor, LLC Saint Louis, Missouri March 30, 2023 T : (314) 965-9775 F : (314) 476-9660 W : www.davilaadvisory.com A : 10135 Manchester Rd, Suite 206, St. Louis, MO 63122 {5}------------------------------------------------ ### STATEMENT OF FINANCIAL CONDITION | Assets | | | |---------------------------------------------------------|-------|-----------| | Assets: | | | | Cash | S | 17,650 | | Commissions Receivable | | 20,000 | | Other Assets | | તેર | | Total Assets | ક્ષ્મ | 37,745 | | Liabilities and Stockholder's Equity | | | | Liabilities: | | | | Accounts Payable | S | 11,415 | | Payroll Taxes Payable | | 2,376 | | Total Liabilites | S | 13,791 | | Stockholder's Equity: | | | | Common Stock: \$.01 Par Value, 9,000 Shares Authorized, | | | | 100 Shares Issued and Outstanding | | 1 | | Additional Paid-in-Capital | | 269,548 | | Retained (Deficit) | | (245,595) | | Total Stockholder's Equity | | 23,954 | | Total Liabilities and Stockholder's Equity | ಲ್ಲಾ | 37,745 | {6}------------------------------------------------ ### STATEMENT OF INCOME | Revenues: | | | |------------------------------|---|---------| | Commission Income | S | 151,081 | | Other | | 240 | | Total Revenues | | 151.321 | | Operating Expenses: | | | | Salaries and Wages | | 27.250 | | Professional Fees | | 29,950 | | Regulatory Fees and Expenses | | 2.435 | | Payroll Taxes | | 2,085 | | State Taxes | | 2,133 | | General and Administrative | | 210 | | Total Operating Expenses | | 64,063 | | Net Income | S | 87,258 | {7}------------------------------------------------ ### STATEMENT OF CHANGES IN STOCKHOLDER S EQUITY | | | Common Stock | Additional
Paid in | Retained | Total
Stockholder's | |----------------------------|--------|--------------|-----------------------|-------------------|------------------------| | | Shares | Amount | Capital | (Deficit) | Equity | | Balance, January 1, 2022 | 100 | | 269,548 | (198,853) | 70.696 | | Distributions | | | | (134,000) | (134.000) | | Net Income | | | | 87,258 | 87.258 | | Balance, December 31, 2022 | 100 | ಕೊ | \$ 269,548 | မွှေ
(245,595) | A
23,954 | {8}------------------------------------------------ ### Statement of Cash Flows | Cash Flows from Operating Activities: | | |---------------------------------------------------------|-------------| | Net Income | 87,258 | | Effects of Changes in Operating Assets and Liabilities: | | | Commissions Receivable | 6,000 | | Other Assets | 240 | | Accounts Payable and Accrued liabilities | 8,814 | | Net Cash Provided by Operating Activities | 102,312 | | Cash Flows from Financing Activities: | | | Distributions to Stockholder | (134,000) | | Net Cash Used in Financing Activities | (134,000) | | Net Increase in Cash | (31,688) | | Cash at Beginning of Year | 49,338 | | Cash at End of Year | S
17,650 | {9}------------------------------------------------ ### Notes to Financial Statements ### December 31, 2022 ### 1. Summary of Significant Accounting Policies ### Business Activity ### Use of Estimates ### Commission Receivable ### Revenue Recognition ### Income Taxes ### 2. Revenue from Contracts with Customers ### Significant Judgments {10}------------------------------------------------ ### Notes to Financial Statements ### December 31, 2022 ### 12b-1 Fee Income ### Disaggregation of Revenue ### 3. Net Capital Requirements ### 5. Related Party ### 6. Subsequent Events {11}------------------------------------------------ ### Notes to Financial Statements ### December 31, 2022 Schedule I: Net Capital Under Rule 15c3-1 and Computation of Aggregate Indebtedness | Computation of Net Capital: | | | |------------------------------------------------|---|----------| | Stockholder's equity | S | 23,954 | | Less Non-Allowable Assets: | | | | Commissions Receivable | | (20,000) | | CRD Deposit | | (95) | | Total Non-Allowable Assets | | (20,095) | | Net Capital (Deficiency) | S | 3,859 | | Aggregate Indebtedness: | | | | Total Aggregate Indebtedness-Total Liabilities | e | 13,791 | | Computation of Basic Net Capital Requiremnet: | | | | Minimim Net Capital Required | S | 5,000 | | Excess (Deficit) Net Capital | | (1,141) | | Ratio of Aggregate Indebtedness to Net Capital | | 357.36 | {12}------------------------------------------------ # FIMCO SECURITIES GROUP, INC. Schedule II and III: Computation for Determination of Reserve Requirements and Information Relating to Possession and Control Requirements Under Rule 15c3-3 ### Schedule II: Computation for Determination of Reserve Requirements Under Rule 15c3-3 ### Schedule III: Information Relating to Possession and Control Requirements Under Rule 15c3-3. {13}------------------------------------------------ ![](_page_13_Picture_0.jpeg) ### REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM Shareholder of FIMCO Securities Group, Inc. We have reviewed management's statements, included in the accompanying exemption report, in which (1) FIMCO Securities Group, Inc. identified the following provisions of 17 C.F.R. section 15c3-3(k) under which FIMCO Securities Group, Inc. claims an exemption from 17 C.F.R. section 240.15c3-3(k)(1) (the "exemption provisions") and (2) FIMCO Securities Group, Inc. stated that FIMCO Securities Group, Inc. met the identified exemption provisions throughout the most recent fiscal year ended December 31, 2022 without exception. FIMCO Securities Group, Inc.'s management is responsible for compliance with the exemption provisions and its statements. Our 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 FIMCO Securities Group, Inc.'s compliance with the exemption provisions. 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, we do not express such an opinion. Based on our review, we are 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)(1) of Rule 15c3-3 under the Securities Exchange Act of 1934. Javila Advisor, LLC Saint Louis, Missouri March 30, 2023 T : (314) 965-9775 F : (314) 476-9660 W : www.davilaadvisory.com A : 10135 Manchester Rd, Suite 206, St. Louis, MO 63122 {14}------------------------------------------------ ### FIMCO SECURITIES GROUP, INC.'S EXEMPTION REPORT FIMCO Securities Group, Inc. (the "Company") is a registered broker-dealer subject to Rule 17a-5 promulgated by the Securities and Exchange Commission (17C.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)(1) and (4). To the best of its knowledge and belief, the Company states the following: 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)(1), and the Company met the identified exemption provisions in 17 C.F.R. § 240.15c3-3(k)(1) throughout the most recent fiscal year without exception. FIMCO Securities Group, Inc. I, Frederick A. Henry, swear (or affirm) that, to my best knowledge and belief, this Exemption Report is true and correct. Frederick A. Henry President Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.