# MMA SECURITIES LLC X-17A-5/A (2025-02-21) — Broker-dealer annual report - Company: MMA SECURITIES LLC - Form: X-17A-5/A - Filed: 2025-02-21 - Period: 2024-12-31 - Accession: 0001049767-25-000003 - 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 (Chief Financial Officer) Original filing: https://www.sec.gov/Archives/edgar/data/1049767/000104976725000003/1MMAS2024PublicReport2.pdf --- {0}------------------------------------------------ #### UNITED STATES 0MB APPROVAL 0MB Number: 3235-0123 SECURITIES AND EXCHANGE COMMISSION Expires: Nov. 30, ²⁰²⁶ Washington, D.C. 20549 Estimated average burden hours per response: 12 ### ANNUAL REPORTS SEC FILE NUMBER FORM X-17A-5 8-5059 1 PART III PUBLIC | SEC FILE NUMBER | | |-----------------|--| | 8-50591 | | FACING PAGE Information Required Pursuant to Rules 17a-5, lla-12, and lBa-7 under the Securities Exchange Act of 1934 FILING FOR THE PERIOD BEGINNING 1/1/2024 AND ENDING 12/31/2024 MM/DD/YV MM/DO/fl A. REGISTRANT IDENTIFICATION ## NAME OF FIRM: MMA Securities LLC TYPE OF REGISTRANT (check all applicable boxes): Broker-dealer D Security-based swap dealer LI 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.) ## 1166 Avenue of the Americas | | (N
o.
an | d
St
)
et
re | | | | |------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------|-----------------------------------------------|------------------------------------------------|--------------------------------------------------------------|--| | k
N
Y
e
o
r
w | | k
N
Y
1
0
e
o
r
w | | 0
3
6 | | | (c
i
y)
t | | (S
)
ta
te | | de
)
(Z
ip
co | | | SO
TO
CO
CT
EG
PE
R
N
N
TA
W
IT
H
R | TO
IS
G
A
R
D
TH
FI
LI
N | | | | | | i
l
k
K
B
m
a
c
m
o
r
e | 2
0
1
2
8
- | 4
4
9
0
8
- | ki
.b
Ia
m | ck
@
m
or
e
m
m
c.
co
m | | | (N
e)
am | (A
de
Te
le
re
a
co
— | ph
N
be
r)
on
e
um | (E
ail
A
dd
m
re | )
ss | | | | B.
A
C
C
O
U
N
TA
N | T
ID
EN
TI
FI
CA
TI | O
N | | | | IN
D
EP
EN
D
EN
T
PU
BL
IC
A
C
C
O
U
N
TA | N
T
ho
rt
se
re
po
s
w | ai
d
nt
ar
e
co
ne | fil
in
g*
in
th
is | | | | l
i
&
h
D
T
t
t
e
o
e
o
u
c
e | | | | | | | (N | if
in
di
vi
du
al
ta
te
am
e
, s
— | la
fir
d
id
st,
st,
an
m | dl
e)
e
na
m | | | | k
f
l
l
l
3
0
R
P
o
c
e
e
e
r | N
a
z
a
e | k
Y
w
o
r | N
Y | 1
0
1
1
2 | | | (A
dd
)
re
ss | (C
ity
) | | (S
)
ta
te | (Z
ip
Co
de
) | | | 1
0
/
2
0
/
2
0
0
3 | | | 3
4 | | | | Re
gi
io
wi
th
(D
of
Pc
AO
B)
(if
pl
str
at
ate
n
ap | ic
ab
le
) | | (P
CA
OB
Re
gi
ati
str
on | N
be
if
pl
ic
ab
le
)
um
r,
ap | | 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-5(e)(1)(ii), if applicable. Persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays ^a currently valid 0MB control number. {1}------------------------------------------------ #### OATH OR AFFIRMATION | Ki
Bl
km
I,
m
ac
or
e | | (o
, s
w
ea
r | af
fir
th
)
th
be
of
kn
at
to
le
d
d
be
lie
st
f,
th
r
m
e
m
y
ow
ge
an
e
, | |---------------------------------------------------------------------------------------------------------------|----------------|------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| | fin
ci
al
ai
ni
th
fir
rt
rt
to
an
re
po
pe
ng
e | of
m | M
M
A
Se
rit
ie
LL
C
cu
s | of
as
, | | 12
/3
1
, | 20
24 | is
d
tr
t.
ue
an
co
rr
ec | fu
h
(o
af
fir
rt
)
th
ith
th
at
er
sw
ea
r
r
m
ne
er
e
co
m
pa
ny
no
r
an
y | | di
of
fic
ui
le
rt
ct
nt
pa
ne
r,
er
re
or
or
eq
va
,
, | pe
rs
on | th
be
as
e
ca
se
m
ay
, | ha
ri
in
in
et
cl
te
st
si
fie
d
le
l
s
an
pr
op
t
y
ar
y
re
an
y
ac
co
un
as
so
y
, | | th
of
at
st
as
cu
om
a
er | | | |---------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------|------------------------------------------------------------------------------------------------| | "
N
Pu
bl
ic
ot
ar
y | ii
tI
r
l)
a%
vn
pp
i o
rk
N
ot
I'
qi
,i
ar
y
ç,
k
Y
N
"
Q
P
L
V
or | Si
at
gn
u
Ti
tle
:
ch
Fin
cia
l O
ffi
er
an
ce
r | #### This filing\* contains (check all applicable boxes): - (a) Statement of financial condition. - (b) Notes to consolidated statement of financial condition. - LI (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 § 2101-02 of Regulation S-X). - LI (d) Statement of cash flows. - LI (e) Statement of changes in stockholders or partners or sole proprietors equity. - LI (f) Statement of changes in liabilities subordinated to claims of creditors. - LI (g) Notes to consolidated financial statements. - LI (h) Computation of net capital under ¹⁷ CFR 240.15c3-1 or ¹⁷ CFR 240.18a-1, as applicable. - o (i) Computation of tangible net worth under 17 CFR 240.18a-2. - LI (j) Computation for determination of customer reserve requirements pursuant to Exhibit ^A to ¹⁷ CFR 240.15c3-3. - LI (k) Computation for determination of security-based swap reserve requirements pursuant to Exhibit ^B to ¹⁷ CFR 240.lSc3-3 or Exhibit ^A to 27 CER 240.18a-4, as applicable. - LI (I) Computation for Determination of PAB Requirements under Exhibit ^A to § 240.15c3-3. - LI (m) Information relating to possession or control requirements for customers under ¹⁷ CFR 240.15c3-3. - LI (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. - LI (o) Reconciliations, including appropriate explanations, of the FOCUS Report with computation of net capital or tangible net worth under ¹⁷ CFR 240.15c34, ¹⁷ CFR 240.18a-1, or ¹⁷ CFR 240.lBa-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. - LI (p) Summary of financial data for subsidiaries not consolidated in the statement of financial condition. - ^S (q) Oath or affirmation in accordance with ¹⁷ CFR 24D.17a-5, ¹⁷ CFR 240.17a-12, or ¹⁷ CFR 240.18a-7, as applicable. - LI (r) Compliance report in accordance with ¹⁷ CFR 240.17a-5 or ¹⁷ CFR 240.18a-7, as applicable. - LI (s) Exemption report in accordance with ¹⁷ CFR 240. 17a-S or ¹⁷ CIR 240.18a-7, as applicable. - ^S (t) Independent public accountant's report based on an examination of the statement of financial condition. - LI (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. - LI (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,lSa-7, as applicable. - LI (w) Independent public accountant's report based on ^a review of the exemption report under ¹⁷ CFR 240.17a-5 or ¹⁷ CFR 240,lSa-7, as applicable. - LI (x) Supplemental reports on applying agreed-upon procedures, in accordance with ¹⁷ CFR 240.15c3-le or ¹⁷ CFR 240.17a-12, as applicable. - LI (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). - LI (z) Other: ^\*\*To request confidential treatment of certain portions of this filing, see ¹⁷ CFR 240.17a-5(e)(3) or ¹⁷ CFR 240.18a-7(d)(2), as applicable. {2}------------------------------------------------ MMA SECURITIES LLC (An Indirect Wholly-Owned Subsidiary of Marsh & McLeiman Companies. Inc.) SEC ID No. 8-50591 #### STATEMENT OF FINANCIAL CONDITION AS OF DECEMBER 31, 2024 AND REPORT OF INI)EPENI)ENT REGISTERED PUBLIC ACCOUNTING FIRM \* \*\*\* \* \* This repor^t is filed pursuan^t to Rule 17a-5(e)(3) under the Securities Exchange Act of 1934 as ^a PIJBLIC document. {3}------------------------------------------------ # De1o Deloitte & Touche ³⁰ Rockefeller Plaza • New York, NY 10112-0015 USA Tel: +12124924000 Fax: +1 212489 1687 w.'Ay.deloittecom #### REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTiNG 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 principles 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 arid 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 flee 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 perfonning procedures that respond to those risks. Such 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. February 18, 2025 We have served as the Company's auditor since 2015. {4}------------------------------------------------ #### MN'IA SECURITIES LLC (an Indirect Wholly-Owned Subsidiary of Marsh & lYleLennan Companies, Inc.) #### STATEMENT OF FINANCIAL CONDITION DECEMBER 31, 2024 #### ASSETS | C
h
d
sh
ui
le
nt
as
an
ca
eq
va
s
R
ei
bl
fr
af
fi
lia
te
ec
va
e
om
s
Fe
d
is
si
iv
ab
le
(n
of
al
lo
fo
do
ub
tf
ul
\$1
of
5
,3
43
)
et
ts
es
co
m
m
on
s
an
re
ce
w
an
ce
r
ac
co
un
ai
d
Pr
ep
ex
pe
ns
es | 16
,0
96
,8
62
S
65
,8
12
,6
51
13
36
28
,7
,7
73
0
02
,7 | |--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------| | T
O
T
A
L
A
SS
E
T
S | S
96
.3
76
.9
43 | | IA
iT
S
L
B
IL
IE
A
N
D
'S
E
Q
U
IT
Y
M
E
M
B
E
R | | | L
IA
B
IL
IT
IE
S
:
Pa
bl
af
fi
li
to
at
ya
e
es
A
bl
d
d
nt
cc
ou
s
pa
ya
e
an
ac
cr
ue
ex
pe
ns
es | 73
1.
30
S
6.
6
1.
04
5
,1
84 | | al
li
ab
ili
tie
T
ot
s | 7
,7
76
,4
90 | | M
E
M
B
E
R
'S
E
Q
U
IT
Y
: | 88
.6
00
,4
53 | | T
O
T
A
L
L
IA
B
IL
IT
IE
S
A
N
D
M
E
M
B
E
R
'S
E
Q
U
IT
Y | | See noles to financial statement {5}------------------------------------------------ #### MMA SECURITLES LLC (an Indirect Wholly-Owned Subsidiary of Marsh & McLennan Companies, Inc.) #### NOTES TO FINANCIAL. STATEMENT DECEMBER 31, 2024 #### I. NATURE OF BUSINESS MMA Securities LLC (the "Company") is an indirect wholly-owned subsidiary of Marsh & McLennan Companics, Inc. ("MMC"). The Company's sole member is Marsh Insurance & Investments LLC ("MIlL"). The Company isa brokerdealer and investment advisor registered with the Securities and Exchange Commission ("SEC") and is ^a member of the Financial Industry Regulatory Authority, Inc. ("F[NRA") 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 serwices: - •Retirement and executive benefits consulting services to qualified and non-qualified benefits ^plans: - •Sale 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 ol' the Company's financial assels are carned 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 Companys 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 Acconnts 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 Companys 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
0'
s | | | |---------------------------------------------------------------------------------------------------------------------------|----|---------------------|--|--| | al
B
Ja
1
20
24
at
an
ce
nu
ar
y
, | \$ | 11 | | | | Pr
is
io
(r
ie
s)
ch
io
to
at
ov
ns
ec
ov
er
ar
ge
s
op
er
ns | | 69 | | | | A
ri
of
f
of
ri
nt
tte
t
cc
ou
s
w
n-
ne
re
co
ve
es
, | | (6
5
) | | | | B
al
D
b
31
20
24
at
an
ce
ec
em
er
, | \$ | 15 | | | Income Tax -The Company is treated as ^a disregarded entity for federal and slate income tax purposcs; therefore, the taxable income or loss from the Company's operations is allocated to the Company's member. Accordingly, no provision for federal and slate income taxes has been made in the accompanying financial statement. #### 3. SEGMENT INFORMATION 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 contract liability until the performance obligations are satisfied. The Company had receivables related to revenue from customers of \$4,933,361 at December 31, 2024 and \$4,481,324 at January 1, 2024 in relation to investment advisory services billed not collected. The Company had ^a contract liability of \$201,875 at December31, 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 bank 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 \$6,731,306 primarily represen^t liabilities for services purchased as well as accounts payable invoices and commissions payable to registered representatives paid by Marsh McLeiman Agency LLC, an affiliate, on behalf of the Company. Payables to affiliates are settled 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 December 31, 2024. #### 7. NET CAPITAL REQUIREMENTS The Company is subject to the Unifonn Net Capital Rule (Rule 15c3-l) under the Secunties 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 net capital, as defined, shall not exceed 15 to I. 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 \$518,433. The Company's aggregate indebtedness at December 31, 2024 was \$7,776,490. The Company's ratio of aggregate indebtedness to net capital was .93 to 1. Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.