# SAMSUNG SECURITIES (AMERICA), INC. X-17A-5 (2025-02-26) — Broker-dealer annual report - Company: SAMSUNG SECURITIES (AMERICA), INC. - Form: X-17A-5 - Filed: 2025-02-26 - Period: 2024-12-31 - Accession: 0001040684-25-000001 - CIK: 1040684 - File #: 8-50272 - Type: Broker-dealer - Material weakness: No - Auditor: SEJONG LLP - Auditor location: Ridgefield Park, NJ - Contact: Suyeon An - Phone: 212-707-6800 - Email: sewon.oh@samsungfn.com - Website: samsungfn.com - Signed by: SEWON OH (PRESIDENT) Original filing: https://www.sec.gov/Archives/edgar/data/1040684/000104068425000001/SamsungPublic.pdf --- {0}------------------------------------------------ # **Samsung Securities (America), Inc.** (A Wholly-Owned Subsidiary of Samsung Securities Co., Ltd.) # ST A TEMENT OF FINANCIAL CONDITION AS OF DECEMBER 31, 2024 AND REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM \*\*\*\*\*\*\* Filed pursuant to Rule l 7a-5( e) under the Securities Exchange Act of 1934 as a PUBLIC DOCUMENT. {1}------------------------------------------------ ## **UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549** # **ANNUAL REPORTS FORM X-17A-5 PART Ill** **FACING PAGE** | 0MB APPROVAL | | |--------------------------|--| | 0MB Number: 3235-0123 | | | Expires: Nov. 30, 2026 | | | Estimated average burden | | | hours per response: 12 | | | SEC FILE NUMBER | | | | | 8-50272 **Information Required Pursuant to Rules 17a-5, 17a-12, and 18a-7 under the Securities Exchange Act of 1934** FILING FOR THE PERIOD BEGINNING 01/01/2024 AND ENDING 12/31/2024 ---- M--'--M -/D \_\_\_ D\_/ \_YY\_\_\_ ----M-'-- M- /,\_D-D/.,...Y\_Y \_\_ \_ **A. REGISTRANT IDENTIFICATION** NAME OF FIRM: Samsung Securities (America), Inc. TYPE OF REGISTRANT (check all applicable boxes): I!!! Broker-dealer D Security-based swap dealer D Major security-based swap participant 0 Check here if respondent is also an OTC derivatives dealer ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use a P.O. box no.) 1330 Avenue of the Americas, 10th Floor New York (City) (No. and Street) NY (State) PERSON TO CONTACT WITH REGARD TO THIS FILING 10019 (Zip Code) Sewon Oh 212-972-2242 sewon.oh@samsungfn.com # **B. ACCOUNTANT IDENTIFICATION** INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing\* (Name) (Area Code - Telephone Number) (Email Address) | Sejong LLP | | | | |------------------------------------------------------------------------------------------------|------------------------------------------------------------|---------|------------| | | (Name - if individual, state last, first, and middle name) | | | | 65 Challenger Road, Suite 250 | Ridgefield Park | NJ | 07660 | | (Address) | (City) | (State} | {Zip Code) | | 08/16/2011 | | 5519 | | | (PCAOB Registration Number, if applicable)
(Date of Registration with PCAOB)(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-S(e)(l)(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 0MB control number.** {2}------------------------------------------------ | OATH OR AFFIRMATION | | | | | |-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--|--|--|--| | I,
Sewon Oh
swear (or affirm) that, to the best of my knowledge and belief, the | | | | | | financial report pertaining to the firm of
Samsung Securities (America) Inc.,
as of | | | | | | December 31, 2024,
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. | | | | | | Signature:� | | | | | | | | | | | | SALWAANAAM
Notary Public - State of New ·,:-,:
Title: | | | | | | NO. 01AN0016Qualified in New York Co�r:· | | | | | | ✓.:JJ:�������==�[:'.j�12?m!ii1sslon Expires Nov 16. ,.C2i | | | | | | CJ2-'2-�-�g,.,. ___ _,_�-_::;���
Notary Public | | | | | | This filing** contains (check all applicable boxes): | | | | | | Iii
(a) Statement of financial condition. | | | | | | Iii
(b) Notes to consolidated statement of financial condition. | | | | | | D
(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
(d) Statement of cash flows. | | | | | | D
(e) Statement of changes in stockholders' or partners' or sole proprietor's equity. | | | | | | D
(f) Statement of changes in liabilities subordinated to claims of creditors. | | | | | | D
(g) Notes to consolidated financial statements. | | | | | | D
(h) Computation of net capital under 17 CFR 240.15c3-1 or 17 CFR 240.18a-1, as applicable. | | | | | | D
(i) Computation of tangible net worth under 17 CFR 240.18a-2. | | | | | | D
(j) Computation for determination of customer reserve requirements pursuant to Exhibit A to 17 CFR240.15c3-3. | | | | | | D
(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. | | | | | | D
(I) Computation for Determination of PAB Requirements under Exhibit A to§ 240.15c3-3. | | | | | | D
(m) Information relating to possession or control requirements for customers under 17 CFR 240.15c3-3. | | | | | | D
(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. | | | | | | D
(o) Reconciliations, including appropriate explanations, of the FOCUS Report with computation of net capital or tangible | | | | | | 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. | | | | | | D
(p) Summary of financial data for subsidiaries not consolidated in the statement of financial condition. | | | | | | Iii
(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. | | | | | | D
(r) Compliance report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.18;i-7, ;is;ipplir.;ihlP. | | | | | | Iii
(s) Exemption report in accordance with 17 CFR 240.17a-S or 17 CFR 240.18a-7, as applicable. | | | | | | liil
(t) Independent public accountant's report based on an examination of the statement of financial condition. | | | | | | D
(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. D (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. Iii (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. D (x) Supplemental reports on applying agreed-upon procedures, in accordance with 17 CFR 240.15c3-le or 17 CFR 240.17a-12, as applicable. D (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). D (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.* {3}------------------------------------------------ ![](_page_3_Picture_0.jpeg) **WWW ..5E.JONGlL.P.COM** **Report of Independent Registered Public Accounting Firm** To the Board of Directors and Stockholder of Samsung Securities (America), Inc. #### **Opinion on the Financial Statement** We have audited the accompanying statement of financial condition of Samsung Securities (America), Inc. as of December 31, 2024, and the related notes (collectively referred to as the "financial statement"). In our opinion, the financial statement presents fairly, in all material respects, the financial position of Samsung Securities (America), Inc. as of December 31, 2024, in conformity with accounting principles generally accepted in the United States of America. #### **Basis for Opinion** This financial statement is the responsibility of Samsung Securities (America), Inc.'s management. Our responsibility is to express an opinion on Samsung Securities (America), Inc.'s financial statement 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 Samsung Securities (America), 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. 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 statement is 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 statement, 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. We have served as Samsung Securities (America), Inc.'s auditor since 2022. Ridgefield Park, New Jersey February 24, 2025 {4}------------------------------------------------ # **SAMSUNG SECURITIES (AMERICA), INC. (A Wholly-Owned Subsidiary of Samsung Securities Co., Ltd.)** #### **STATEMENT OF FINANCIAL CONDITION AS OF DECEMBER 31, 2024** # **ASSETS** | CASH AND CASH EQUIVALENTS | \$
2,476,762 | |--------------------------------------------------------------------------------------------|------------------| | TIME DEPOSITS | 36,051,463 | | INTEREST RECEIVABLE | 665,807 | | PREPAID INCOME TAXES | 243,732 | | PROPERTY AND EQUIPMENT, At cost, less accumulated depreciation
of\$113,136 | 141,568 | | DEFERRED TAX ASSETS | 329,762 | | RIGHT-OF-USE ASSET | 866,457 | | OTHER ASSETS | 55,704 | | TOT AL ASSETS | \$
40,831,255 | | LIABILITIES AND STOCKHOLDER'S EQUITY | | | LEASE LIABILITY | \$
909,122 | | ACCRUED EXPENSES AND OTHER | 425,755 | | PAY ABLE TO PARENT | 68,097 | | TOTAL LJABTLJTJRS | 1,402,974 | | STOCKHOLDER'S EQUITY:
Common stock, par value \$1 per share -
100 shares authorized; | | | issued and outstanding 50 shares
Additional paid-in capital | 50
4,999,950 | | Retained earnings | 34,428,281 | | TOTAL STOCKHOLDER'S EQUITY | 39,428,281 | | TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY | \$
40,831,255 | | See notes to financial statement. | | - 2 - {5}------------------------------------------------ # **SAMSUNG SECURITIES (AMERICA), INC. (A Wholly-Owned Subsidiary of Samsung Securities Co., Ltd.)** #### **NOTES TO STATEMENT OF FINANCIAL CONDITION AS OF DECEMBER 31, 2024** # **1. DESCRIPTION OF BUSINESS** Samsung Securities (America), Inc., (the "Company") was incorporated on February 14, 1997 under the laws of the State of Delaware to conduct securities business in the United States. The Company, a wholly-owned subsidiary of Samsung Securities Co. Ltd. (the "Parent"), a Korean corporation, is a registered broker and dealer in securities under the Securities Exchange Act of 1934 and is a member of the Financial Industry Regulatory Authority ("FINRA"). The Company engages in broker and dealer transactions of Korean securities. Its principal customers are institutions in the U.S. investing in the emerging markets. The Company introduces all transactions to its Parent. Accordingly, the Company does not carry customers' accounts and does not receive, deliver, or hold cash or securities in connection with such transactions. ### **2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES** **Basis of Presentation** -The accompanying statement of financial condition has been prepared in accordance with accounting principles generally accepted in the United States of America ("US GAAP"). **Cash and Cash Equivalents** - Cash and cash equivalents include cash on hand, demand deposits with banks, and short-term and highly liquid instruments purchased with an original maturity of three months or less at the date of acquisition. **Time Deposits** -Time deposits represent certificates of deposits placed with reputable financial institutions with original maturity terms of greater than three months but less than one year and carried at fair value. **Income Tax** -The Company accounts for income tax in accordance with the Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") 740, *Income Taxes* ("ASC 740"). Deferred tax assets and liabilities are computed for temporary differences between the statement of financial condition and tax bases of assets and liabilities that will result in taxable or deductible amounts in future years. Such deferred tax asset and liability computations are based on enacted tax laws and rates applicable to periods in which the differences are expected to affect taxable income. Deferred tax assets are required to be reduced by a valuation allowance to the extent that, based on the weight of available evidence, it is more likely than not that the deferred tax assets will not be realized. In accordance with ASC 740, the Company may recognize tax benefits from uncertain tax positions only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the {6}------------------------------------------------ **statement of financial condition from such a position should be measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. ASC 740 also provides guidance on derecognition of income tax assets and liabilities, classification of current and deferred income tax assets and liabilities, accounting for interest and penalties associated with tax positions, and income tax disclosures. Judgment is required in assessing the future tax consequences of events that have been recognized in the statement of financial condition or tax returns. There are no unrecognized tax benefits, interest or penalties recognized in the accompanying statement of financial condition as of December 31, 2024.** **Property and Equipment -Property and equipment are stated at cost, net of accumulated depreciation. Depreciation is provided on a straight-line method over the estimated useful lives of the respective assets ranging from three to seven years.** **Fair Value Measurements -The Company applies ASC 820,** *Fair Value Measurement,* **guidance which defines fair value as 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, and establishes a framework for measuring fair value, and which establishes a three-level hierarchy for fair value measurements based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date.** **The guidance establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. Three levels of inputs that may be used to measure fair value:** *Level* **1: Quoted prices (unadjusted) for identical assets or liabilities in active market that the entity has the ability to access as of the measurement date.** *Level 2:* **Significant other observable inputs other than Level l prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data.** *Level* **3: Significant unobservable inputs that reflect a reporting entity's own assumptions about the assumptions that market participants would use in pricing an asset or liability. Items valued using intem11l v11hmtion techniques 11re cl11ssified according to the lowest level input that is significant to the valuation, and are typically classified as Level 3.** **The Company did not have any Level 3 financial instruments as of December 31, 2024.** **Fair value is based upon quoted market data when available. If listed prices or quotes are not available, the Company considers relevant and observable market prices in its valuations where possible. The frequency of transaction, the size of the bid-ask spread and the amount of adjustment necessary when comparing similar transactions are all factors in determining the liquidity of markets and the relevance of observed prices in those markets.** **The carrying amounts oftime deposits, categorized as level 2 in the fair value hierarchy, were measured using a pricing model with observable inputs. The carrying amounts reported in the statement of financial condition for cash and cash equivalents, categorized as level 1 in the fair value hierarchy, and receivable from Parent and interest receivable, categorized as level 2 in the fair** {7}------------------------------------------------ **value hierarchy, approximate fair value because of the short-term maturity of those financial instruments.** **Use of Estimates - The preparation of statement of financial condition in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the statement of financial condition and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.** **Leases - The Company accounts for its leases in accordance with ASC 842,** *Leases.* **For leases that have greater than 12-month lease term, a right-of-use ("ROU") asset and lease liability is recognized based on the present value of the future lease payments at the lease commencement date. The interest rate used to determine the present val***u***e of the fut***u***re lease payments is o***u***r in***c***remental borrow***i***ng rate, developed based** *u***pon ea***c***h lease's term. O***u***r lease terms in***c***l***u***de per***i***ods** *u***nder options to e***x***tend or terminate the lease when it** *i***s reasonabl***y c***erta***i***n that we w***i***ll e***x***er***ci***se that opt***i***on. For o***u***r operat***i***ng lease, the ROU asset also** *i***n***c***l***u***des an***y* **prepaid lease pa***y***ments and in***i***t***i***al dire***c***t** *c***osts** *i***n***cu***rred and are red***uc***ed b***y* **lease in***c***entives. Lease e***x***pense** *i***s re***c***ognized on a straightline bas***i***s over the lease term** *i***f the ROU asset has not been impaired or abandoned.** **Recently Adopted Accounting Standard - In November 2023, the FASB** *i***ss***u***ed ASU 2023-07, Segment Report***i***ng (Top***ic* **280): Improvements to Reportable Segment D***i***s***c***los***u***res, wh***ic***h req***u***ires all p***u***bl***ic* **ent***i***t***i***es,** *i***n***c***l***u***ding those w***i***th a single reportable segment, to d***i***s***c***lose add***i***t***i***onal information abo***u***t a reportable segment's e***x***penses in** *i***nter***i***m and ann***u***al per***i***ods, among other req***ui***rements. The Compan***y* **adopted the standard on Jan***u***ar***y* **1, 2024. The adopt***i***on d***i***d not have a material** *i***mpa***c***t on the Compan***y***'s finan***ci***al statement.** #### **3. NET CAPITAL REQUIREMENTS** **The Compan***y***, as a reg***i***stered broker and dealer in se***cu***r***i***t***i***es, is s***u***bje***c***t to the Un***i***form Net Cap***i***tal R***u***le l 5***c***3-l of the Se***cu***r***i***t***i***es and E***xc***hange Commiss***i***on and has ele***c***ted to** *c***omp***u***te** *i***ts net** *c***ap***i***tal req***u***irements in accun.lauct: with tht: Altt:rnatt: Stam.Ian.I. Umlt:r this Altt:matt: Stam.lard, nt:t capital, as defined, shall be the greater of \$250,000 or 2 per***c***ent of aggregate deb***i***ts** *i***tems ar***i***sing from** *cu***stomer transa***c***t***i***ons, as defined. As of De***c***ember 31, 2024, the Compan***y* **has net** *c***ap***i***tal of \$ 1 7,288,748, whi***c***h e***xc***eeds the req***ui***red net** *c***apital b***y* **\$17,038,748.** **The Compan***y c***laims exempt***i***on from the provis***i***ons of Rule l 5***c***3-3 under the Se***c***ur***i***t***i***es E***xc***hange A***c***t of 1934 in that the Compan***y***'s a***c***t***i***vit***i***es are lim***i***ted to those set forth** *i***n the** *c***ond***i***t***i***ons for e***x***empt***i***on appear***i***ng in paragraph (k)(2)(***i***) of that r***u***le.** ### **4. INCOME TAX** **The ta***x* **effe***c***t of ea***c***h t***y***pe of temporar***y* **d***i***fferen***c***e that gave rise to a s***i***gnifi***c***ant portion of the deferred ta***x* **assets as of De***c***ember 31, 2024 are as follows:** {8}------------------------------------------------ | | Deferred Tax
Assets (Liabilities) | | |-------------------------------|--------------------------------------|--------------| | Net operating loss carryover | \$ | 229,383 | | Property and equipment | | (1
1,308) | | Accrued expense and allowance | | 97,081 | | ROU asset | | (296,615) | | Lease liability | | 311
,221 | | Net deferred tax assets | \$ | 329,762 | **In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the period in which those temporary differences become deductible. Based upon the level of historical taxable income and projections for future taxable income over the periods which the deferred tax assets are deductible, management believes it is more likely than not that the Company will realize the benefits of these deductible differences. Accordingly, deferred tax assets have been fully recognized without valuation allowance. The net change in the deferred tax assets for the year ended December 31, 2024 was a decrease of approximately \$116,000. As of December 31, 2024, the Company does not have Federal net operating loss carryforwards available. Meanwhile, the Company has state and local net operating loss carryforwards amounting to approximately \$2,124,000 and \$1,385,000, respectively, which expire in various years through December 31, 2037.** **The Company's corporate income tax returns for the years ended December 31, 2021 through 2023 are open to examination by the Internal Revenue Service, and also remain open for the same period with respect to New York State and New York City taxing jurisdictions. No material uncertain tax positions exist as of December 31, 2024.** #### **5. RF.LATED PARTY TRANSACTIONS** **The Parent executes Korean securities trades for the Company's customers. Commissions on Korean securities transactions for customers are collected by the Parent directly from the customers. In return, the Company receives service revenue from the Parent at an amount equal to the operating expenses incurred by the Company plus certain agreed-upon mark-ups on such expenses. Related payable to the Parent, which is generally settled on a monthly basis, amounted to approximately \$68,000 as of December 31, 2024.** #### **6. EMPLOYEE BENEFIT PLAN** **Eligible employees of the Company may elect to participate in the U.S. Employee Savings and Retirement Plan established by the Company. The plan is a defined contribution plan under Section 40l(k) of the Internal Revenue Code. Based upon each employee's length of service, the Company** {9}------------------------------------------------ **contributes up to \$6,000. Matched contributions are gradually vested over 5 years and become fully vested at the fifth year of the participating employee's employment with the Company.** #### **7. PROPERTY AND EQUIPMENT** **At December 31, 2024, office equipment, furniture and fixtures are comprised of the following:** | Office equipment | \$
206,438 | |---------------------------------|---------------| | Furniture and fixtures | 48,266 | | Total at cost | 254,704 | | Less accumulated depreciation | (113,136) | | Property and equipment -
net | \$
141,568 | #### **8. COMMITMENT** **The Company leases office space under a non-cancelable operating lease expiring in October 2028.** #### **Statement of Financial Condition Amounts Related to Leases** | | As of December 31, 2024 | |-------------------------------------------------------------------------------------------------------|-------------------------| | ROU assets | \$ 866,457 | | Lease liabilities | 909,122 | | Remaining lease term, in years | 3.8 | | Discount rate | 4.49% | | Future lease payments under this operating lease are as follows:
For the years ending December 31, | Amount | | 2025 | | | | | | 2026 | 258,600
258,600 | | 2028 | 2 1 5,497 | |--------------------------------------------|----------------| | Thereafter | | | Total undiscounted cash flows | 991 ,297 | | Imputed interest | (82, 1 75) | | Amount on statement of financial condition | 909,1 22
\$ | #### **9. CONCENTRATION OF CREDIT RISK** **Concentrations of credit risk that arise from financial instruments ( whether on or off balance sheet) exist for group of counterparties when they have similar economic characteristics that would cause their ability to meet obligations to be similarly affected by economic, industry or geographic factors. There were no significant concentrations of credit risk at December 31, 2024. The Company seeks to control its credit risk and the potential for risk concentration through a variety of reporting and control procedures.** {10}------------------------------------------------ **Cash and cash equivalent and time deposits in banks periodically exceed the Federal Deposit Insurance Corporation's (FDIC) insurance coverage of \$250,000. The company has not experienced any losses in such accounts and does not believe there to be any significant credit risk with respect to these deposits.** ## **10. CREDIT RISK AND CLIENT ACTIVITIES** **The Company clears securities transactions on behalf of customers through its clearing broker. In connection with these activities, customers' unsettled trades may expose the Company to offbalance-sheet credit risk in the event customers are unable to fulfil their contracted obligations. The Company seeks to control the risk associated with its customers' activities by monitoring the creditworthiness of its customers.** #### **11. SEGMENT REPORTING** **The Company is primarily engaged in the business of securities broker-dealer which is comprised of introducing broker-dealer and other similar activities. The Company has identified its President 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 (see Note 3), which is not a measure of profit and loss, to make operational decisions while maintaining capital adequacy. 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. Total assets per the segment is the same in all material respects as those reported on the statement of financial position.** #### **12. SUBSEQUENT EVENTS** **The Company has evaluated subsequent events after December 31, 2024, but before February 24, 2025, the date the financial statements were available to be issued. There were no subsequent events that required to be measured or disclosed in the financial statement.** \* \* \* \* \* \* {11}------------------------------------------------ ![](_page_11_Picture_0.jpeg) **ir rb.t'-)ity·tnJ,,t •prufi :..-;.'>!01 1alisr 11** **65 0-!Al..l.ENGER RO\0. SUIT£ 250. RICGEAELD PARK. NJ (Y76«J T. 2 I 2-244 .3940 I F 201 .242.01 06** **WWI.OJ ..sEJONGUP.CCM** #### **Report of Independent Registered Public Accounting Firm** **To the Board of Directors and Stockholder of Samsung Securities (America), Inc.** **We have reviewed management's statements, included in the accompanying Exemption Report, in which (1) Samsung Securities (America), Inc. identified the following provision of 17 C.F.R. § 1 5c3-3 (k) under which Samsung Securities (America), Inc. claimed an exemption from 17 C.F.R. §240. 1 5c3-3 : (k)(2)(i) (exemption provision) and (2) Samsung Securities (America), Inc. stated that Samsung Securities (America), Inc. met the identified exemption provision throughout the most recent fiscal year without exception. Samsung Securities (America), Inc. 's management is responsible for compliance with the exemption provision 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 Samsung Securities (America), 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, 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 provision set forth in paragraphs (k)(2)(i) of Rule l 5c3-3 under the Securities Exchange Act of 1 934.** **Ridgefield Park, New Jersey February 24, 2025** {12}------------------------------------------------ ![](_page_12_Picture_0.jpeg) ![](_page_12_Picture_1.jpeg) **Financial Networks** 1 330 Avenue of the Americas, 1 0F New York NY 1 001 9 # **Samsung Securities (America), lnc.'s Exemption Report** **Samsung Securities (America), Inc. (the "Company") is a registered broker-dealer subject to Rule 1 7a-5 promulgated by the Securities and Exchange Commission (17 C.F.R. §240. 1 7a-5, "Reports to be made by certain brokers and dealers"). This Exemption Report was prepared as required by 17 C.F.R. § 240. l 7a-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 provision of 17 C.F.R § 240. l 5c3-3 : (k)(2)( i)** - **(2) The Company met the identified exemption provisions in 17 C.F.R. § 240. 1 5c3-3(k)(2)(i) for the year ended December 3 1, 2024 without exception.** **Samsung Securities (America), Inc.** **I, \_S\_e-\_vJ\_P---'---n \_\_** *tJ\_\_ h \_,* **affirm that, to my best knowledge and belief, this Exemption Report is true and correct.** **Title** *ft�* **Signature** **Date** Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.