# RNR SECURITIES, L.L.C. X-17A-5 (2024-04-15) — Broker-dealer annual report - Company: RNR SECURITIES, L.L.C. - Form: X-17A-5 - Filed: 2024-04-15 - Period: 2023-12-31 - Accession: 0001043116-24-000001 - CIK: 1043116 - File #: 8-50366 - Type: Broker-dealer - Material weakness: No - Auditor: Adeptus Partners, LLC - Auditor location: Jericho, NY - Contact: William V. Romeo - Phone: 516-222-8850 - Email: aakerman@mrsecurities.com - Website: mrsecurities.com - Signed by: William V. Romeo (CEO) Original filing: https://www.sec.gov/Archives/edgar/data/1043116/000104311624000001/rnraudit2023.pdf --- {0}------------------------------------------------ | OMB APPROVAL
UNITED STATES
OMB Number: 3235-0123
SECURITIES AND EXCHANGE COMMISSION
Expires: Nov. 30, 2026
Washington, D.C. 20549
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ANNUAL REPORTS
SEC FILE NUMBER
FORM X-17A-5
PART III
FACING PAGE
Information Required Pursuant to Rules 17a-5, 17a-12, and 18a-7 under the Securities Exchange Act of 1934
AND ENDING 12/31/2023
Filing for the period beginning 01/01/2023
MM/DD/YY
MM/DD/YY
A. REGISTRANT IDENTIFICATION
NAME OF FIRM: RNR Securities, LLC
TYPE OF REGISTRANT (check all applicable boxes):
@ Broker-dealer
O 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.)
1802 Hempstead Turnpike
(No. and Street)
East Meadow
NY
(State)
(City)
PERSON TO CONTACT WITH REGARD TO THIS FILING
Albert Akerman
516-222-8875
aakerman@mrsecurities.com
(Name)
(Emall Address)
(Area Code - Telephone Number)
B. ACCOUNTANT IDENTIFICATION
INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing*
Adeptus Partners, LLC
(Name - if Individual, state last, first, and middle name)
390 N. Broadway, Suite 120
Jericho
NY
(Address)
(City)
(State)
01/06/2010
3686
(Date of Registration with PCAOB){if applicable}
(PCAOB Registration Number, if applicable) | | | |--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------|--| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 11553 | | | | | | | | (Zip Code) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 17758 | | | | | | | | | | | | (Zip Code) | | | 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 relled on as the basis of the exemption. See 17 | | | 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 | William Romeo | | | | swear (or affirm) that, to the best of my knowledge and belief, the | | |---------------|----------------------------------------------------------------|--|--|----------------------------------------------------------------------------------|-------| | | financial report pertaining to the firm of RNR Securities, LLC | | | | as of | | 12/31 | | | | Is true and correct. I further swear (or affirm) that nother 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 custopagene Altan Notary Public, State of New York Reg. No. 01AL6160673 Qualified in Nassau County Commission Expires February 12, 2027 Signature: Title: CEO Notary Public # This filing\*\* contains (check all applicable boxes): - (a) Statement of financial condition. - □ (b) Notes to consolidated statement of financial condition. 0 And ( KU) - [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. - (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. - [] 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. - □ (!) Computation for Determination of PAB Requirements under Exhibit A to § 240.15c3-3. - O (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 tanglible 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. - O (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 report or 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. - | (x) Supplemental reports on applying agreed-upon procedures, In accordance with 17 CFR 240.15c3-1e or 17 CFR 240.17a-12, as applicable. - O a statement that no material inadequacles exist, under 17 CFR 240.17a-12(k). - O (z) Other: - \*\* To request confidential treatment of certain portions of this filing, see 17 CFR 240.17d-5(e)(3) or 17 CFR 240.18c-7(d)(2), as applicable. {2}------------------------------------------------ # RNR SECURITIES, LLC # FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION AND REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM DECEMBER 31, 2023 {3}------------------------------------------------ # TABLE OF CONTENTS | REPORT OF INDEPENDENT REGISTERED
PUBLIC ACCOUNTING FIRM | | |---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----| | FINANCIAL STATEMENTS | | | Statement of Financial Condition at December 31, 2023 | | | Statement of Operations for the Year Ended December 31, 2023 | ব | | Statement of Changes in Members' Equity for the Year Ended
December 31, 2023 | 5 | | Statement of Cash Flows for the Year Ended December 31, 2023 | 6 | | Notes to Financial Statements | | | SUPPLEMENTARY INFORMATION | | | Computation of Net Capital Pursuant to Rule 15c3-1 for the Year Ended
December 31, 2023 | | | Computation of Reserve Formula Under Rule 15c3-3 of the
Securities and Exchange Commission and Information Relating
To Possession and Control Pursuant to Rule 15c3-3 of the
Securities and Exchange Commission for the Year Ended December 31, 2023 | | | Report of Independent Registered Public Accounting Firm on Applying
Agreed-Upon Procedures | | | General Assessment Reconciliation | 20 | | Report of Independent Registered Public Accounting Firm | 21 | | Exemption Report | | {4}------------------------------------------------ ![](_page_4_Picture_0.jpeg) Adeptus Partners, LLC 390 N Broadway Suite 120 Jericho, NY 11753 (516) 354-8877 adeptuscpas.com ### REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Managing Members of RNR Securities, LLC East Meadow, New York ### Opinion on the Financial Statements We have audited the accompanying statement of financial condition of RNR Securities, LLC (the "Company") as of December 31, 2023, the related statements of operations, changes in members' equity and cash flows for the year then ended, and the related notes (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of RNR Securities, LLC as of December 31, 2023, 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 Computation of Net Capital Pursuant to Rule 15c3-1, Computation of Reserve Formula Under Rule 15c3-3 of the Securities and Exchange Commission and Information Relating to Possession and Control Pursuant to Rule 15c3-3 of the Securities and Exchange Commission, General Assessment Reconciliation, and Exemption Report have been subjected to audit procedures performed in conjunction with the audit of {5}------------------------------------------------ ![](_page_5_Picture_0.jpeg) the Company's financial statements. The supplemental information is 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 Computation of Net Capital Pursuant to Rule 15c3-1, Computation of Reserve Formula Under Rule 15c3-3 of the Securities and Exchange Commission and Information Relating to Possession and Control Pursuant to Rule 15c3-3 of the Securities and Exchange Commission, General Assessment Reconciliation, and Exemption Report is fairly stated, in all material respects, in relation to the financial statements as a whole. ADEPTUS PARTNERS, LLC We have served as RNR Securities, LLC's auditor since 2022. Jericho, New York April 8, 2024 {6}------------------------------------------------ ## RNR SECURITIES, LLC STATEMENT OF FINANCIAL CONDITION DECEMBER 31, 2023 # ASSETS | Assets | |--------| | | | Cash and cash equivalents | S | 148,120 | |--------------------------------------|---|---------| | Securities, at fair value | | 62,480 | | Commissions receivable | | 218,077 | | Prepaid expenses and other assets | | 55,586 | | Right-of-use assets-operating leases | | 76.498 | | Property and equipment, net | | 60,802 | | Total assets | 5 | 621,563 | ### LIABILITIES AND MEMBERS' EQUITY | Liabilities | | | |----------------------------------------|----|---------| | Commissions payable | S | 131,023 | | Accrued expenses and other liabilities | | 79,624 | | Loan payable insurance | | 34,331 | | Operating lease liabilities | | 76,497 | | | | | | Total liabilities | | 321,475 | | Members' Equity | | | | Total Members' Equity | | 300,088 | | TOTAL LIABILITIES AND MEMBERS' EQUITY | ಕಾ | 621,563 | {7}------------------------------------------------ # RNR SECURITIES, LLC STATEMENT OF INCOME FOR THE YEAR ENDED DECEMBER 31, 2023 | Revenues | | | |---------------------------------------|-----|-----------| | Commissions | S | 2,924,676 | | Interest and dividend income | | 5,367 | | Other income | | 135 | | Total revenue | | 2,930,178 | | Operating expenses | | | | Employee compensation and benefits | | 1,835,108 | | Other operating expenses | | 171,466 | | Other expenses | | 102,922 | | Occupancy and lease expenses | | 66,314 | | Technology and communications expense | | 38,368 | | Office expenses | | 36,524 | | Regulatory fees | | 13,236 | | Total operating expenses | | 2,263,938 | | Other income (loss) | | | | Unrealized gain | | 11,973 | | Net Income | ಕಿತ | 678,213 | {8}------------------------------------------------ ## RNR SECURITIES, LLC STATEMENT OF CHANGES IN MEMBERS' EQUITY FOR THE YEAR ENDED DECEMBER 31, 2023 | Balance, January 1, 2023 | ತಿ | 337,407 | |----------------------------|----|-----------| | Members' contributions | | 3,500 | | Members' distributions | | (719,032) | | Net income | | 678,213 | | Balance, December 31, 2023 | S | 300,088 | The accompanying notes are an integral part of these financial statements. {9}------------------------------------------------ ## RNR SECURITIES, LLC STATEMENT OF CASH FLOWS FOR THE YEAR ENDED DECEMBER 31, 2023 Cash flows from operating activities: | Net income | ಕ್ಕಾ | 678,213 | |----------------------------------------------------|------|-----------| | Adjustments to reconcile net income to net cash | | | | provided by operating activities: | | | | Depreciation and amortization expense | | 19,505 | | Interest payments on operating leases | | (3,325) | | Amortization of right-of-use assets-leases | | 67,621 | | Changes in operating assets and liabilities: | | | | Decrease in securities, at fair value | | 940 | | Increase in commissions receivable | | (71,143) | | Decrease in prepaid expenses and other assets | | 12,096 | | Increase in commissions payable | | 54.160 | | Increase in accrued expenses and other liabilities | | 10,244 | | Increase in loan payable insurance | | 2,987 | | Decrease in operating lease liabilities | | (51,521) | | Net cash provided by operating activities | | 719,777 | | Cash flows from financing activities: | | | | Distributions paid to members | | (719,032) | | Contributions made by members | | 3,500 | | Insurance financed | | 34,617 | | Principal payments on note payable-insurance | | (31,292) | | Net cash used in financing activities | | (712,207) | | Net decrease in cash and cash equivalents | | 7,570 | | Cash and cash equivalents, beginning of year | | 140,550 | | Cash and cash equivalents, end of year | S | 148,120 | | | | | | Cash paid during the period for interest | S | 11,108 | {10}------------------------------------------------ #### 1. Organization RNR Securities, LLC (the "Company") was organized in New York on March 27, 1997. The Company is registered as a broker-dealer with the U.S. Securities and Exchange Commission ("SEC") and is a member of the Financial Industry Regulatory Authority ("FINRA"). The latest date on which the Company may dissolve is March 1, 2026. The Company operates pursuant to SEC Rule 17 C.F.R. Section 240.15c3-3(k)(2)(i), limiting business to the distribution of mutual funds and/or variable life insurance and annuities, and effective January 2011, the Company began distribution of real estate investment trusts ("REITS"). The Company operates as a limited liability company and the liability of the member of the Company is limited to the members' total capital contribution. The ownership of the Company is comprised of two members. One member has a 99% interest in the Company and the second minority member has a 1% interest in the Company. The Company operates primarily as an introducing broker and engages in the business of providing brokerage services for customers limited to the distribution of mutual funds and variable life insurance and annuities. As a matter of normal business practice, the Company does not assume positions in securities. ## 2. Summary of Significant Accounting Policies ## Basis of Accounting follows FASB ASC Topic 940 The Company has prepared its financial statements on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America ("GAAP"). # Use of Estimates In preparing financial statements in conformity with GAAP, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosures of contingent assets and liabilities at the date of the financial statements and revenues and expenses during the reporting period. Actual results could differ from those estimates. Estimates are used when accounting for amortization, depreciation and contingencies. ## Cash and Cash Equivalents For purposes of the statement of cash flows, cash and cash equivalents consist of highly liquid debt investments with maturity of three months or less when purchased. The Company places its temporary cash investments with investment quality financial institutions. {11}------------------------------------------------ # 2. Summary of Significant Accounting Policies - (Continued) Leases On June 1, 2022 the Company adopted Topic 842, Leases, which requires lessees to recognize leases on the balance sheet and disclose key information about leasing arrangements. Topic 842 was subsequently amended by ASU No. 2018-01, Land Easement Practical Expedient for Transition to Topic 842; ASU No. 2018-10, Codification Improvements to Topic 842, Leases and ASU No.2018-11, Targeted Improvements. The new standard establishes a right-of-use model (ROU) that requires a lessee to recognize a ROU asset and lease liability on the balance sheet for all leases with a term longer than 12 months. A modified retrospective transition approach is required, applying the new standard to all leases at the date of initial application. Refer to Note 3 for additional information. ## Revenue Recognition The Company follows the provisions of Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") Topic 606, Revenue from Contracts with Customers ("ASC Topic 606"). The revenue recognition guidance requires that an entity recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance requires an entity to follow a five-step model to (a) identify the contract(s) with a customer, (b) identify the performance obligations in the contract, (c) determine the transaction price, (d) allocate the transaction price to the performance obligations in the contract, and (e) recognize revenue when (or as) the entity satisfies a performance obligation. In determining the transaction price, an entity may include variable consideration only to the extent that it is probable that a significant reversal in the amount of cumulative revenue recognized would not occur when the uncertainty associated with the variable consideration is resolved. Commissions. The Company receives commissions for the sale of mutual funds, insurance policies, REITS, and other financial products to customers. The Company records commission revenue for sales of insurance policies on the effective date of the policy and after all contingencies have been resolved during the lookback period. Revenue from the sale of other financial products is recorded on the trade date. The Company believes the performance obligation is satisfied on the trade date, because that is the date that the underlying purchaser is identified, the pricing has been agreed upon, and the risks and rewards of ownership have been transferred. Distribution fees. The Company enters into arrangements with managed accounts or other pooled investments vehicles (funds) to distribute shares to investors. Distribution fees consists of trail commissions and 12b-1 fees on certain mutual funds sold to customers for a specified period of time that the {12}------------------------------------------------ # 2 Summary of Significant Accounting Policies - (Continued) customer remains in the fund. The Company may receive distribution fees paid by the fund up front, over time, upon the investor's exit from the fund (that is, a contingent deferred sales charge), or as a combination thereof, resulting in a final transaction price. The Company records trail commission revenue when the transaction price is determined from the mutual funds. The Company believes that its performance obligation is the sale of securities to investors and as such this is fulfilled on the trade date. Any fixed amounts are recognized on the trade date and variable amounts are recognized to the extent it is probable that a significant revenue reversal will not occur once the uncertainty is resolved. For variable amounts, as the uncertainty is dependent on the value of the shares at future points in time as well as the length of time the investor remains in the fund, both of which are highly susceptible to factors outside the Company's influence, the Company does not believe that it can overcome this constraint until the market value of the fund and the investor activities are known, which are usually monthly or quarterly. Distribution fees recognized in the current period are primarily related to performance obligations that have been satisfied in prior periods. ### Commissions Receivable The Company carries its commissions receivable at cost, less an allowance for doubtful accounts. On a periodic basis, the Company evaluates its commissions receivable and establishes an allowance for doubtful accounts, based on a history of past write-offs and collections and current credit conditions. At December 31, 2023, no allowance for doubtful accounts was deemed necessary. ### Investment Valuation The Company's investments in securities are stated at fair value. 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. See Note 5 for discussion of Fair Value Measurements. ### Property and Equipment Property and equipment is stated at cost. The costs of additions and betterments are capitalized and expenditures for repairs and maintenance are expensed in the period incurred. When items of property and equipment are sold or retired, the related costs and accumulated depreciation are removed from the accounts and any gain or loss is included in income. Depreciation and amortization of property and equipment is provided utilizing both the straight-line and accelerated methods over the estimated useful lives of the respective assets as follows: | Automobiles | 5 years | |------------------------|---------| | Computer equipment | 5 years | | Furniture and fixtures | / years | {13}------------------------------------------------ #### 2. Summary of Significant Accounting Policies - (Continued) ### Long-Lived Assets Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. For purposes of evaluating recoverability of long-lived assets, the Company evaluates the carrying value of its long-lived assets on an ongoing basis and recognizes impairment when the future undiscounted cash flows from operations are less than the carrying value of the related assets. The Company evaluated the fair value of long-lived assets and has determined that no impairment existed at December 31, 2023. ### Income Tax Provisions for federal and state income taxes have not been provided for because the Limited Liability Company ("LLC") is classified as a partnership for income tax purposes and will not be subject to income tax. As such the LLC's income or loss and credits are passed through to the members and are reported on the members' income tax returns. At December 31, 2023, management has determined that the Company had no uncertain tax positions that would require financial statement recognition. The determination will always be subject to ongoing reevaluation as facts and circumstances may require. The Company's tax preparers reviewed the Company's tax position and the results from the operations and as a result of this review, the Company has determined there were no uncertain tax positions. The Company files income tax returns in the U.S. federal jurisdiction and New York State. The Company is no longer subject to U.S. federal, state and local examinations by tax authorities for the years before 2020. ### Subsequent Events In preparing these financial statements, the Company has evaluated events and transactions for potential recognition or disclosure through DATE, the date the financial statements were available to be issued. There were no significant subsequent events or transactions which required recognition or disclosure in the financial statements. {14}------------------------------------------------ #### 3. Leases The Company leases its office space under a operating lease that expires on May31,202. The company utilized an interest rate of 3.32% for the purpose of Calculating the operating lease asset and liability. Rent expense charged to operations amounted to approximately \$19,424 for the year ended December 31, 2023. Maturities of operating lease liabilities as of December 31, 2023 are as follows: | Years ending December 31: | Amount | | |------------------------------------|-----------|--| | 2024 | \$ 55,200 | | | 2025 | 23,000 | | | Total lease payments | 78,200 | | | Less: interest | (1,703) | | | Present value of lease liabilities | \$ 76,497 | | {15}------------------------------------------------ #### 4. Investments Investments in securities at December 31, 2023 are stated at estimated fair value and summarized as follows: | | Fair Value | | | |--------------|--------------|--|--| | Mutual funds | ಳು
62.480 | | | Investment income from investments above for the year ended December 31, 2023 is as follows: | Interest and dividend income
Unrealized gain | S | 5.367
11.973 | | |-------------------------------------------------|---|-----------------|--| | | | 7.340 | | #### 5. Fair value measurements FASB ASC Topic 820 establishes a framework for measuring fair value. That framework provides a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurements) and the lowest priority to unobservable inputs (level 3 measurements). The three levels of the fair value hierarchy under FASB ASC Topic 820 are described below: - Level 1 identical assets or liabilities in active markets that the Company has the ability to access. - Level 2 Inputs to the valuation methodology include: - · Quoted prices for similar assets or liabilities in active markets; - · Quoted prices for identical or similar assets or liabilities in inactive markets; - · Inputs other than quoted prices that are observable for the asset or liability; - · Inputs that are derived principally from or corroborated by observable market data by correlation or other means. If the asset or liability has a specified (contractual) term, the Level 2 input must be observable for substantially the full term of the asset or liability. {16}------------------------------------------------ # 5. Fair value measurements - (Continued) Level 3 to the fair value measurement. The asset's or liability's fair value measurement level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Valuation techniques used need to maximize the use of observable inputs and minimize the use of unobservable inputs. Following is a description of the valuation methodologies used for assets measured at fair value. There have been no changes in the methodologies used at December 31, 2023. Mutual funds: Valued at the daily closing price as reported by the fund. Mutual funds held by the Company are open-end mutual funds that are registered with the SEC. These funds are required to publish their daily NAV and to transact at that price. The mutual funds held by the Company are deemed to be actively traded. The methods described above may produce a fair value calculation that may not be indicative of net realizable value or reflect future fair values. Furthermore, while the Company believes its valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date. The following table sets forth by level, within the fair value hierarchy, the Company's assets at fair value on a recurring basis as of December 31, 2023: | Assels al Fall Value as of December 31, 2023 | | | | | | | | | |----------------------------------------------|----|-----------|--|---------|--|-------|----|--------| | Level 1 | | Level 2 | | Level 3 | | Total | | | | Mutual funds | ಳು | 62,480 | | | | 1 | | 62,480 | | Total assets at
fair value | S | 62.480 \$ | | - | | 1 | ef | 62.480 | {17}------------------------------------------------ #### Property and Equipment 6. Property and equipment is summarized as follows: | Automobiles | ಕ್ಕಾ | 10.039 | |-------------------------------------------------|------|---------| | Computer equipment | | 85,950 | | Furniture and fixtures | | 55,443 | | Leasehold improvements | | 55.433 | | | | 206,865 | | Less: Accumulated depreciation and amortization | | 146.063 | | | | 60.802 | Depreciation and amortization expense related to property and equipment amounted to \$19,505 for the year ended December 31, 2023. #### 7. Related Party Transaction The Company shares its offices with R&R Financial Planners, Inc., a party related through majority common ownership of its managing member. The expense sharing agreement states that RNR Securities, LLC will reimburse R&R Financial Planners, Inc. for joint postage, postage rental fees, and utilities on a monthly basis. Expenses are paid if incurred. For the year ended December 31, 2023, the Company paid \$23,667 to the related party for shared expenses. In addition, the Company leases its offices from its managing member (See Note 9). #### 8. Net Capital Requirements The Company is subject to the Securities and Exchange Commission Uniform Net Capital Rule 15c3-1, which requires the maintenance of minimum net capital and requires that the ratio of aggregate indebtedness to net capital, both as defined, shall not exceed 15 to 1. At December 31, 2023, the Company has net capital of \$174,328 which was \$157,988 in excess of its minimum required net capital of \$16,340. The Company's net capital ratio was 1.41 to 1. {18}------------------------------------------------ #### 9. Commitments and Contingencies The Company leases office space in two buildings from the managing member, William V. Romeo. Future minimum lease payments under the leases through May 31, 2025 are as follows: | Year Ending December 31, 2024 | 55,200 | |-------------------------------|----------| | 2025 | 23.000 | | Total | \$78,200 | | | | Rent expense amounted to \$19,424 for the year ended December 31, 2023. #### 10. Concentration of Credit Risk In the normal course of business, the Company enters into financial transactions where the risk of potential loss due to changes in market or failures of the other party to the transaction to perform exceeds the amounts recorded for the transactions. The Company's policy is to continuously monitor its exposure to market and counterparty risk through the use of a variety of financial position and credit exposure reporting and control procedures. In addition, the Company has a policy of reviewing the customer and/or other counter-party with which it conducts its business. As of December 31, 2023, there were no significant customer accounts having unsecured debit balances that presented any risk. In addition, money market funds are covered by the Securities Investor Protection Corporation ("SIPC") up to \$500,000. At times, such investments may be in excess of federal insurance limits. The Company has not experienced any losses in these accounts to date. {19}------------------------------------------------ ### RNR SECURITIES, LLC COMPUTATION OF NET CAPITAL PURSUANT TO RULE 15C3-1 FOR THE YEAR ENDED DECEMBER 31, 2023 | Computation of net capital | | | | |---------------------------------------------------------------------------------------|--------|------|-----------| | Total members' equity | | | | | | | ಲ್ಲಿ | 300,088 | | | | | | | Less: Nonallowable assets | | | | | Property and equipment, net | 60,802 | | | | Prepaid expenses and other assets | 55,586 | | | | | | | 116,388 | | Net capital before haircuts on securities positions (tentative net capital) | | ಕ್ಕಿ | 183,700 | | Haircuts on securities | | | | | Securities positions | 9,372 | | | | | | | 9,372 | | | | | | | Net Capital | | S | 174,328 | | CONSOLIDATED COMPUTATION OF BASIC NET CAPITAL REQUIRED | | | | | Minimum net capital required 6-2/3% of aggregate indebtedness pursuant to Rule 15C3-1 | | | 16,340 | | | | | | | Minimum dollar net capital requirement of reporting broker/dealer | | | 5,000 | | | | | | | Minimum net capital requirements of broker/dealer | | | 16,340 | | Excess net capital | | | 157,988 | | | | | | | Excess net capital at 1,000% | | | 149,818 | | Aggregate Indebtedness | | | 244,978 | | | | | | | Ratio of aggregate indebtedness to net capital | | | 1.41 to 1 | | | | | | The above computation does differ materially from the computation of net capital under Rule 15c3-1 as of December 31, 2023 filed by RNR Securities, LLC in its Form X-17A-5 with the Financial Industry Regulation Authority ("FINRA") on January 26,2024. Form X-17A-5 will be amended By March 15,2024. {20}------------------------------------------------ # Computation of Reserve Formula Under Rule 15c3-3 of the Securities and Exchange Commission: The Company is exempt from the provisions of Rule 15c3-3 as of December 31, 2023 under the Securities Exchange Act of 1934 in that the Company's activities are limited to those set forth in the condition for exemption appearing in paragraph (k)(2)(i). # Information Relating to Possession and Control Pursuant to Rule 15c3-3 of the Securities and Exchange Commission: The Company is subject to the exemptive provisions of paragraph (k)(2)(i) of SEC Rule 15c3-3 and did not maintain possession or control of any customer funds or securities at December 31, 2023. {21}------------------------------------------------ ![](_page_21_Picture_0.jpeg) Adeptus Partners, LLC 390 N Broadway Suite 120 Jericho, NY 11753 (516) 354-8877 adeptuscpas.com ### REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM ON APPLYING AGREED-UPON PROCEDURES To the Managing Members of RNR Securities, LLC We have performed the procedures included in Rule 17a-5(e)(4) under the Securities Exchange Act of 1934 and in the Securities Investor Protection (SIPC) Series 600 Rules, which are enumerated below on the accompanying General Assessment Reconciliation (Form SIPC-7) for the year ended December 31, 2023. Management of RNR Securities, LLC (the "Company") is responsible for its Form SIPC-7 and for its compliance with the applicable instructions on Form SIPC-7. Management of the Company has agreed to and acknowledged that the procedures performed are appropriate to meet the intended purpose of assisting you and SIPC in evaluating the Company's compliance with the applicable instructions on Form SIPC-7 for the vear ended December 31, 2023. Additionally, SIPC has agreed to and acknowledged that the procedures performed are appropriate for their intended purpose. This report may not be suitable for any other purpose. The procedures performed may not address all the items of interest to a user of this report and may not meet the needs of all users of this report and, as such, users are responsible for determining whether the procedures performed are appropriate for their purposes. The sufficiency of these procedures is solely the responsibility of those parties specified in this report. Consequently, we make no representation regarding the sufficiency of the procedures described below either for the purpose for which this report has been requested or for any other purpose. The procedures we performed and our associated findings are as follows: - 1) Compared the listed assessment payments in Form SIPC-7 with respective cash disbursement records entries, noting no differences; - 2) Compared the Total Revenue amounts reported on the Annual Audited Report Form X-17A-5 Part III for the year ended December 31, 2023 with the Total Revenue amount reported in Form SIPC-7 for the year ended December 31, 2023, noting no differences; - 3) Compared any adjustments reported in Form SIPC-7 with supporting schedules and working papers, noting no differences; - 4) Recalculated the arithmetical accuracy of the calculations reflected in Form SIPC-7 and in the related schedules and working papers supporting the adjustments, noting no differences; and - 5) Compared the amount of any overpayment applied to the current assessment with the Form SIPC-7 on which it was originally computed, noting no differences. We were engaged by the Company to perform this agreed-upon procedures engagement and conducted our engagement in accordance with attestation standards established by the AICPA and in accordance with the standards of the Public Company Accounting Oversight Board (United States). We were not engaged to and did not conduct an examination or a review engagement, the objective of which would be the expression of an opinion or conclusion, respectively, on the Company's Form SIPC-7 and for its compliance with the applicable instructions on Form SIPC-7 for the year ended December 31, 2023. Accordingly, we do not express such an opinion or conclusion. Had we performed additional procedures, other matters might have come to our attention that would have been reported to you. We are required to be independent of the Company and to meet our other ethical responsibilities in accordance with the relevant ethical requirements related to our agreed-upon procedures engagement. {22}------------------------------------------------ ![](_page_22_Picture_0.jpeg) This report is intended solely for the information and use of the Company and SIPC and is not intended to be and should not be used by anyone other than these specified parties. Adeptos batters LCC ADEPTUS PARTNERS, LLC Jericho, New York April 8, 2024 {23}------------------------------------------------ ### RNR SECURITIES, LLC SUPPLEMENTARY INFORMATION GENERAL ASSESSMENT RECONCILIATION FOR THE YEAR ENDED DECEMBER 31, 2023 | Total revenue | \$2,942,151 | |------------------------------------------------------------------------------|-------------| | Deductions:
Revenues from the sale of variable annuities and mutual funds | 2,899,294 | | Net income from securities in investment accounts | 11,973 | | Total deductions | 2,911,267 | | SIPC net operating revenues | 30,884 | | General assessment @ .0015 | 46 | | Total payments | 860 | | Assessment balance due or (overpayment) | (814) | | Interest computed on late payment at 20% per annum | | | Total balance due | ತಿ
(814) | {24}------------------------------------------------ ![](_page_24_Picture_0.jpeg) Adeptus Partners, LLC 390 N Broadway Suite 120 Jericho, NY 11753 (516) 354-8877 adeptuscpas.com ### REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Managing Members of RNR Securities, LLC We have reviewed management's statements, included in the accompanying Rule 15c3-3 Exemption Report pursuant to SEC Rule 17a-5, in which (1) RNR Securities, LLC (the Company) did not claim an exemption under paragraph (k) of 17 C.F.R. §240.15c3-3, and (2) the Company is filing this Exemption Report relying on Footnote 74 of the SEC Release No. 34-70073 adopting amendments to 17 C.F.R. § 240.17a-5 because the Company limits its business activities exclusively to the sale of mutual funds. variable annuities, insurance products and REITs, exclusively to effecting securities transactions via subscriptions on a subscription way basis where the funds are payable to the issuer or its agent and not to RNR Securities, LLC. In addition, the Company did not directly 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; did not carry accounts of or for customers; and did not carry PAB accounts (as defined in Rule 15c3-3) throughout the most recent fiscal year without exception. In addition, the Company 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; did not carry accounts of or for customers; and did not carry PAB accounts (as defined in Rule 15c3-3) throughout the most recent fiscal year without exception. RNR Securities, LLC'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 RNR Securities, LLC's compliance with the exemption . 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 upon the Company's business activities contemplated by Footnote 74 of the SEC Release No. 34-70073 adopting amendments to 17 C.F.R. § 240.17a-5, and related SEC Staff Frequently Asked Questions. ADEPTUS PARTNERS, LLC Jericho, New York April 8, 2024 {25}------------------------------------------------ ![](_page_25_Picture_0.jpeg) **RNR SECURITIES, L.L.C.** 1802 Hempstead Turnpike East Meadow, N.Y. 11554 Phone (5 16) 222-8875 Fax (516) 222-8871 Info@RNRSecurities.com # **RNR Securities, LLC Exemption Report Year Ended December 31, 2023** RNR Securities, LLC ("RNR") a registered broker-dealer subject to Rule 17a-5 promulgated by the Securities and Exchange Commission (17 C.F.R. §240. I 7a-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, RNR Securities, LLC states the following: - (1) RNR does not claim an exemption under paragraph (k) of 17 C.F.R. § 240. 15c3-3, and - (2) RNR Securities, LLC is filing this Exemption Report relying on Footnote 74 of the SEC Release No. 34-70073 adopting amendments to 17 C.F.R. § 240.17a-5 because RNR Securities, is an introducing broker dealer whose business is limited to the sale of mutual funds, variable annuities, insurance products and REITs. exclusively to effecting securities transactions via subscriptions on a subscription way basis where the funds are payable to the issuer or its agent and not to RNR; and RNR (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 most recent fiscal year without exception - (3) RNR Securities, LLC was in compliance with the provisions of Footnote 74 of the SEC Release No. 34-70073 and the amendments to the 17. C.F.R. §240.17a-5 throughout the most recent fiscal year without exception. I, William V. Romeo, affirm that, to my best knowledge and belief, this Exemption Report is true and correct. William V. Romeo, Managing Member Member of FINRA/SIPC/MSRB *-------F ... L-ORI-DA-OF-F~1CE: 245 N. OCEAN BOULEVARD (AIA). SUITE #302. DEERFIELD BEACH f:l ??AA1* Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.