# MMA SECURITIES LLC X-17A-5 (2025-02-18) — Broker-dealer annual report - Company: MMA SECURITIES LLC - Form: X-17A-5 - Filed: 2025-02-18 - Period: 2024-12-31 - Accession: 0001049767-25-000001 - CIK: 1049767 - File #: 8-50591 - Type: Broker-dealer - Material weakness: No - Auditor: Deloitte & Touche LLP - Auditor location: New York, NY - Contact: Kim Blackmore - Phone: 201 284-4908 - Signed by: Kim Blackmore (Director, Financial and Operations Principal) Original filing: https://www.sec.gov/Archives/edgar/data/1049767/000104976725000001/1MMAS2024PublicReport.pdf --- {0}------------------------------------------------ #### UNITED STATES 0MB APPROVAL SECURITIES AND EXCHANGE COMMISSION Expires: Nov. 30, ²⁰²⁶ Washington, D.C. 20549 Estimated average burden 0MB Number: 3235-0123 hours per response: 12 ### ANNUAL REPORTS SEC FILL NUMBER FORM X-17A-5 8-5059 1 PART III | SEC FILE NUMBER | | |-----------------|--| | 8-50591 | | | P
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L | IC | |--------|--------|----| |--------|--------|----| FACING PAGE Information Required Pursuant to Rules 17a-S, 17a-12, and 18a-7 under the Securities Exchange Act of 1934 FILING FORTHE PERIOD BEGINNING 1/1/2024 AND ENDING 12/31/2024 MM/DD/YY MM/DD/YY A. REGISTRANT IDENTIFICATION ## NAME OF FIRM: MMA Securities LLC TYPE OF REGISTRANT (check all applicable boxes): E1 Broker-dealer LI Security-based swap dealer LI Major security-based swap participant ^U Check here if respondent is also an OTC derivatives dealer ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use ^a P.O. box no.) ## 1166 Avenue of the Americas | | (N
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, | | | | LI (z) Other: ^\*\*ro reques^t 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}------------------------------------------------ MMA SECURITIES LLC (An Indirect Wholly-Owned Subsidiary of Marsh & McLennan Companies, Inc.) SEC ID No. 8-50591 #### STATEMENT OF FINANCIAL CONDITION AS OF DECEMBER 31, 2024 AND REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM This repor^t is filed pursuan^t to Rule 17a-5(e)(3) under the Securitics Exchange Act of 1934 as ^a PUBLIC document. {3}------------------------------------------------ # DeI Deloitte & Toucho ³⁰ Rockefeller Plaza • NewYork,NY1O112-0015 USA Tel: +12124924000 Fax: +1 212 489 1687 wwwdeloittecom #### REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTENG FIRM To the Directors and Equity Owner of MMA Securities LLC: #### Opinion on the Financial Statement We have audited the accompanying statement of financial condition of MMA Securities LLC (the 'Company') 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 the Company as of December 31, 2024, in conformity with accounting princip]es generally accepted in the United States of America. #### Basis for Opinion The financial statement is the responsibility of the Company's management. Our responsibility is to express an opinion on this 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 respec^t 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 oithe 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 respon^d to those risks. Sucl procedures included examining, on ^a test basis, evidence regarding the amounts and disclosures in the financial statement. 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 statement. We believe that our audit of the financial statement provides ^a reasonable basis for our opinion. ^L P February 18, 2025 We have served as the Company's auditor since 2015. {4}------------------------------------------------ #### N'IMA SECURITIES LLC (an Indirect Wholly-Owned Subsidiary of Marsh & McLennan Companies, Inc.) #### STATEMENT OF FINANCIAL CONDITION DECEMBER31, 2024 #### ASSETS | d
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S | See notes to financial statement {5}------------------------------------------------ #### MMA SECURITIES EEC (an Indirect Wholly-Owned Subsidiary of Marsh & McLennan Companies, Inc.) #### NOTES TO FINANCIAL STATEMENT DECEMBER 31, 2024 #### 1. NATURE OF BUSINESS MMA Securities LLC (the "Company") is an indirect wholly-owned subsidiary of Marsh & McLennan Companies, Inc. ("MMC"). The Company's sole member is Marsh Insurance & Investments LLC ("MIlL"). The Company is ^a brokerdealer and investment advisor registered with the Securities and Exchange Commission ("SEC") and is ^a member of the Financial Industry Regulatory Authority, Inc. ("FINRA") and the Securities Investor Protection Corporation ("SIPC"). The Company is also ^a licensed insurance agency in most states in the United States. The Company provides the following services: - •Retirement and executive benefits consulting services to qualified and non-qualified benefits plans; - •Salc of mutual funds and variable products to individual and institutional customers. The Company does not hold customer securities or customer funds. #### 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation -The financial statement is prepared in conformity with accounting principles generally accepted in the United States of America ("US GAAP"). The Company has performed its evaluation of subsequent events through the issuance date of the financial statement. Based upon such evaluation, no events were discovered that required disclosure or adjustment to the financial statement. Use of Estimates -The preparation of the financial statement in conformity with US GAAP requires managemen^t to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of contingent assets and liabilities at the date of the financial statement. Actual results could differ from those estimates. Fair Value of Financial Assets and Liabilities - Substantially all of the Company's financial assets are carried at fair value or contracted amounts which approximate fair value. The Company's financial liabilities, such as payables, are recorded at amounts approximating fair value. Cash and Cash Equivalents -Cash equivalents consist of demand deposits with original maturities of three months or less. The estimated fair value of the Company's cash equivalents approximates their carrying value due to their shortterm nature. All of the cash and cash equivalents are held in one major financial institution. Allowance for Credit Losses on Accounts Receivable -The Company's policy for providing an allowance for credit losses ("CECL") on its accounts receivable is based on management's best estimate of amounts that will be uncollectible primarily based on the Company's historical experience of collections in its various businesses or other events that may affect the net realizable value of the receivables. {6}------------------------------------------------ An analysis of the allowance for credit losses for the year ended December 31, 2024 is provided below: | | in | 00
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, | \$ | 15 | Income Tax -The Company is treatcd as ^a disregarded entity for federal and state income tax purposes; therefore, the taxablc incomc or loss from the Company's operations is allocated to the Company's membcr. Accordingly, no provision for federal and state income taxes has been made in the accompanying financial statement. #### 3. SEGMENT INFORi'IAT1ON The Company is engaged in ^a single line of business as ^a securities broker-dealer and registered investment advisor to suppor^t the Company's retirement services. The Company has identified its President as the chief operating decision maker ("CODM"), who reviews net income against current and pas^t performance monthly when making decisions about allocating resources impacting the Company, inclusive of decisions regarding new hires, expansion into new products, and entering material contracts such as investments in technology. The Company's operations constitute ^a single operating segmen^t and therefore, ^a single reportable segment, because the CODM manages the business activities using information of the Company as ^a whole. #### 4. CONTRACT BALANCES FROM CONTRACTS WITH CUSTOMERS The timing of the Company's revenue recognition may differ from the timing of paymen^t by its customers. The Company records receivables when revenue is recognized prior to paymen^t and it has an unconditional right to payment. The changes in the receivables during the year are related to services invoiced, paymen^t of invoices and adjustments for impairment of the receivable. Alternatively, when paymen^t precedes the provision of the related services, the Company records ^a contiact liability until the performance obligations are satisfied. The Company had receivables related to revenue from customers of 84,933.361 at December 31, 2024 and S4,48 1,324 at January 1,2024 in relation to investment advisory services billed not collected. The Company had ^a contract liability of \$201,875 at December 31, 2024 and \$25,525 at January 1,2024 in relation to investment advisory fees billed but the performance obligation has not been satisfied. #### 5. RELATED PARTY TRANSACTIONS As of December 31, 2024, the Company's receivable from affiliates balance of \$65,812,651 is primarily comprised of an interest bearing account. The Company transfers certain excess operating cash balances on its accounts with ^a third party hank to an interest bearing account with MMC for cash managemen^t purposes. The estimated fair value of the Company's receivable approximates its carrying value. As of December 31, 2024, the Company's payables to affiliates balance of 86,731,306 primarily represen^t liabilities for services purchased as well as accounts payable invoices and commissions payable to registered representatives paid by Marsh McLennan Agency LLC, an affiliate, on behalf of the Company. Payables to affiliates are settlcd on ^a monthly basis. {7}------------------------------------------------ #### 6. COMMITMENTS AND CONTINGENCIES In the normal course of business, the Company may be named as ^a defendant in certain litigation, arbitrations and regulatory actions arising out of its activities as ^a broker-dealer. Management accrues for such amounts when deemed probable and estimable in accordance with FASB ASC 450, Contingencies. The Company has no commitments or contingencies as of December31, 2024. #### 7. NET CAPITAL REQUIREMENTS The Company is subject to the Uniform Net Capital Rule (Rule 15c3-l) under the Securities Exchange Act of 1934. which requires the maintenance of minimum net capital, as defined, of \$5,000, and requires that the ratio of aggregate indebtedness to nd capital, as defined, shall not exceed 15 to 1. At December 31, 2024, the Company had net capital of \$8,320,372 which was \$7,801,939 in excess of its required net capital requirement of \$51 8,433. The Companys aggregate indebtedness at December 31,2024 was \$7,776,490. The Company's ratio of aggregate indebtedness to nd capital was .93 to I. Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.