# ODDO BHF NEW YORK CORPORATION X-17A-5 (2022-02-25) — Broker-dealer annual report - Company: ODDO BHF NEW YORK CORPORATION - Form: X-17A-5 - Filed: 2022-02-25 - Period: 2021-12-31 - Accession: 0001060237-22-000005 - CIK: 1060237 - File #: 8-50975 - Type: Broker-dealer - Material weakness: No - Auditor: Raphael Goldberg Nikpour Cohen & Sullivan Certified Public Accountants PLLC - Auditor location: Woodbury, NY - Contact: Louis-Paul Roger - Phone: 6467237405 - Signed by: Louis-Paul Roger (CEO) Original filing: https://www.sec.gov/Archives/edgar/data/1060237/000106023722000005/oddo2021short.pdf --- {0}------------------------------------------------ # Oddo BHF New York Corporation # Financial Statement of Condition And Report of Independent Registered Public Accounting Firm December 31, 2021 {1}------------------------------------------------ | | UNITED STATES | | | | | |--------------------------------------------------------------------------------------------------------------------------|--------------------------------------------------------|----------------------------------------|--------------------------------|--|--| | SECURITIES AND EXCHANGE COMMISSION | | | OMB APPROVAL | | | | Washington, D.C. 20549 | | | OMB Number:
3235-0123 | | | | | | Expires: | October 31, 2023 | | | | | | | Estimated average burden | | | | | | hours per response | 12.00 | | | | ANNUAL AUDITED REPORT
FORM X-17A-5
PART III | | | SEC FILE NUMBER | | | | | | | | | | | | | | 8-50975 | | | | | FACING PAGE | | | | | | Information Required Pursuant to Rules 17a-5, 17a-12, and 18a-7 under the Securities Exchange Act of 1934 | | | | | | | REPORT FOR THE PERIOD BEGINNING | 01/01/2021 | AND ENDING | 12/31/2021 | | | | | MM/DD/YY | | MM/DD/YY | | | | | A. REGISTRANT IDENTIFICATION | | | | | | | | | | | | | NAME OF FIRM: Oddo BHF New York Corporation | | | | | | | TYPE OF REGISTRANT (check all applicable boxes): | | | | | | | & Broker-dealer
□Security-based swap dealer | | □Major security-based swap participant | | | | | □ Check here if respondent is also an OTC derivatives dealer | | | | | | | | | | | | | | ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use P.O. Box No.) | | | | | | | 150 East 52nd Street, 5th Floor | | | | | | | | (No. and Street) | | | | | | New York | NY | | 10022 | | | | (City)
PERSON TO CONTACT WITH REGARD TO THIS FILING | (State) | | (Zip Code) | | | | Louis-Paul Roger | | | 646-723-7405 | | | | | | | (Area Code - Telephone Number) | | | | | B. ACCOUNTANT IDENTIFICATION | | | | | | INDEPENDENT PUBLIC ACCOUNTANT whose opinion is contained in this Report* | | | | | | | Raphael Goldberg Nikpour Cohen & Sullivan Certified Public Accountants PLLC | | | | | | | | (Name - if individual, state last, first, middle name) | | | | | | 97 Froehlich Farm Blvd. | Woodbury | NY | 11797 | | | | (Address) | (City) | (State) | (Zip Code) | | | | 02/23/2010 | | | 5028 | | | | (Date of Registration with PCAOB)(if applicable) | | | (PCAOB Registration Number | | | | | FOR OFFICIAL USE ONLY | | | | | | | | | | | | | | | | | | | | | | | | | | | * Claims for everytion from the requirements he rough reports of an independent an independent mublic accounting that ha | | | | | | Claims for exemption from the requirement that the anual reports of an independent public accountant must be supported by a statement of facts and circumstances relied on as the basis of the exemption. See 17 CFR 240.17a-5(e)(1)(ii), if applicable. Persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. {2}------------------------------------------------ ### **OATH OR AFFIRMATION** I, Louis-Paul Roger, swear (or affirm) that, to the best of my knowledge and belief, the financial report pertaining to the firm of Oddo BHF New York Corporation, as of December 31, 2021, 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. | | 2/23/2012 | |-----|------------| | CEO | 2123 12022 | **WILFREDO M CAMACHO Nolmy Publlc - State of New York No. 01CA6385478 Quellfled In Bronx County My Commission Expires Jan. 07, 2023** Notary Public ### This filing\*\* contains (check all applicable boxes): - 181 (a) Statement of financial condition. - !8l (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 CFR 240.15c3-3. - 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 net worth under 17 CFR 240.15c3-l, 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. - D (p) Summary of financial data for subsidiaries not consolidated in the statement of financial condition. - 181 (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 240.18a-7, as applicable. - D (s) Exemption report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. - 0 (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 240.18oi-7, or 17 CFR 240.l?a-12, as applicable. - 0 (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. - D (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 CFH 240.17a-12(k). - D (z) Other: \* \*To request confidential treatment of certain portions of this filing, see 17 CFR 240.17a-S(e){3) or 17 CFR 240.18a-7(d)(2), as applicable. {3}------------------------------------------------ ## ODDO BHF NEW YORK CORPORATION ## Index December 31, 2021 | | Page(s) | |---------------------------------------------------------|---------| | Report of Independent Registered Public Accounting Firm | | | Financial Statements | | | Statement of Financial Condition | | | Notes to the Financial Statements | | {4}------------------------------------------------ ![](_page_4_Picture_0.jpeg) Mark C. Goldberg, CPA Mark Raphael, CPA Floria Samii-Nikpour, CPA Allan B. Cohen, CPA Michael R. Sullivan, CPA Founding Partner: Melvin Goldberg, CPA Anita C. Jacobsen, CPA ## REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Stockholders of ODDO BHF New York Corporation ## Opinion on the Financial Statement We have audited the accompanying statement of financial condition of ODDO BHF New York Corporation (the "Company") as of December 31, 2021, and the related notes to the financial statement. In our opinion, the statement of financial condition presents fairly, in all material respects, the financial position of ODDO BHF New York Corporation as of December 31, 2021, in conformity with accounting principles generally accepted in the United States of America. ### Basis for Opinion This financial statement is the responsibility of the Company's management. Our responsibility is to express an opinion on the Company'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 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 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 statement. Our audit also included evaluating principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statement. We believe that our audit provides a reasonable basis for our opinion. Raphael Goldberg Nikpour Cohen & Sullivan Certified Public Accountants PLLC We have served as the Company's auditors since 2016 Woodbury, New York February 23, 2022 {5}------------------------------------------------ ## ODDO BHF NEW YORK CORPORATION ## Statement of Financial Condition As of December 31, 2021 ## ASSETS | Cash and cash equivalents | S | 7,771,779 | |--------------------------------------------------------------------------------------|-------|------------| | Fail to deliver | | 3,405,030 | | Security deposit | | 403,455 | | Due from parent | | 1,451,143 | | Right of use asset | | 111,073 | | Deferred tax asset | | 419,514 | | Leasehold improvements | | 2,537 | | (net of accumulated depreciation and amortization of \$28,099) | | | | Other assets | | 91,687 | | TOTAL ASSETS | S | 13,656,218 | | LIABILITIES AND STOCKHOLDER'S EQUITY | | | | Liabilities: | | | | Accounts payable - customer | | 3,405,030 | | Accrued expenses and other liabilities | | 2,111,763 | | Lease Liability | | 123,771 | | Taxes payable | | 310,988 | | Accounts payable | | 41,489 | | Total Liabilities | S | 5,993,041 | | Stockholder's equity: | | | | Common stock, no par value, 200 shares authorized,
1 share issued and outstanding | | | | Additional paid-in capital | S | 2,749,911 | | Retained earnings | | 4,913,266 | | Total stockholder's equity | S | 7,663,177 | | TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY | ત્ત્વ | 13,656,218 | The accompanying notes are an integral part of these financial statements. {6}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tC:>27-@892:>25;:;D@-52G;62GA:>9<<-::>2:9M8-D;:;-2E9D;D-N:>2 :2H><;H9G@25;:D-N:>28-D;:;-<:962<9<,=uCN-5:>-D2:9M8-D;:;-9:@22::>2@-52FG;62GAF:>952D>-G,R:>27-@892G95J2D:9@-I<:-N:9ME2<2N;::>9:;D @-52:>92IG:;@9:2D2::G2@2<:3;:>:>252G9:2,:9M9I:>-5;:AS {7}------------------------------------------------ ## ODDO BHF NEW YORK CORPORATION ### Notes to Financial Statement December 31, 2021 #### Accounting Policies (continued) 2. ### Cash and cash equivalents The Company considers all highly liquid investments with an original maturity of three months or less to be cash equivalents. The Company records all securities transactions on a trade-date basis. The amount on deposit at this institution exceeds the maximum balance insured by the Federal Deposit Insurance Corporation ("FDIC"). However the Company has not experienced any losses in such account and does not believe there to be any significant credit risk with respect to these deposits. ### Fair Value of Financial Assets and Liabilities The majority of the Company's financial assets and liabilities are recorded at amounts that approximate fair value. Such assets and liabilities include cash, fees receivable, and accrued expenses. #### 3. Leasehold Improvements The Company had the following leasehold improvements and related accumulated depreciation and amortization at December 31, 2021: | | | Cost | |---------------------------------------------------------------------------|---|-------------------| | Leasehold Improvements
Less: accumulated depreciation and amortization | | 30.636
(28,099 | | Net leasehold improvements | S | 2,537 | #### 4. Leases The Company has obligations as a lessee for office space, with initial noncancellable terms in excess of one year. The Company classified this lease as operating leases. The Company's leases do not include termination options for either party to the lease or restrictive financial or other covenants. Amounts reported in balance sheet as of December 31, 2021 were as follows: Operating lease ROU assets \$ 111,073 Operating lease liabilities \$ 123,771 Maturities of lease liabilities under noncancellable operating leases as of December 31, 2021 are as follows: | Year Ending | | |-------------|---------------| | December 31 | Amount | | 2022 | 125.633 | | | ਜੋ
125,633 | {8}------------------------------------------------ ## Notes to Financial Statement December 31, 2021 #### 5 Income Taxes Income taxes are accounted for in accordance with ASC 740, which requires that deferred tax assets and liabilities be provided for all temporary differences between the book and tax basis of assets and liabilities. The statutory rate differs from the effective rate primarily due to the effects of state and local taxes. The deferred tax asset primarily represents the difference between the accrual and cash basis of reporting and differences between book and tax depreciation. #### Related Party Transactions 6. The Company is paid a service fee by an affiliate based upon total expenses incurred. The Company also pays a support service fee to an affiliate. #### 7. Regulatory Requirements As a registered broker-dealer, the Company is subject to the Uniform Net Capital Rule (Rule 15c3-1) under the Securities Exchange Act of 1934. The Company has elected the alternative standard which requires the maintenance of \$250,000 in minimum net capital. At December 31, 2021, the Company had net capital of \$ 5,294,840 that was \$5,044,840 in excess of its required net capital of \$250,000. The Company claims exemption from SEC rule 15c3-3 under section (k)(2)(i). ## 8. Financial Instruments with Off-Balance Sheet Risk The Company is engaged in various brokerage activities whose counterparties are primarily institutions. In the normal course of business, the Company is involved in the execution and settlement of various foreign securities transactions. The Company has a clearing arrangement with an affiliate, Oddo BHF S.C.A, under which Oddo BHF S.C.A. clears all transactions for the accounts of the Company's customers on an omnibus basis. In addition, the Company has the right to pursue collection or performance from the counterparties who do not perform under their contractual obligations. #### 9. Recent Accounting Pronouncements In February 2016, the FASB issued (ASU) 2016-02, "Leases (Topic 842)". This update included a lease accounting model that recognizes two types of leases and operating leases. The standard required that a lessee recognize on the balance sheet assets and liabilities relating to leases with terms of more than 12 months. The recognition, measurement, and presentation of expenses and cash flows arising from a lease by a lessee will depend on its classification as a finance or operating lease, and was effective for the Company beginning in January 2019. {9}------------------------------------------------ ## Notes to Financial Statement December 31, 2021 #### Risks and Uncertainties 10 During the 2020 calendar year, the World Health Organization has declared the outbreak of the coronavirus ("Covid-19") to constitute a "Public Health Emergency of International Concern". This pandemic has disrupted economic markets and the economic impact, duration and spread of the COVID-19 virus is uncertain at this time. The financial performance of the Company is subject to future developments related to the COVID-19 outbreak and possible government advisories and restrictions placed on the financial markets and business activities. The impact of financial markets and the overall economy, all of which are highly uncertain, cannot be predicted. If the financial markets and/or the overall economy are impacted for an extended period the Company's results may be materially affected. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. ## 11. Subsequent Events No other events or transactions subsequent to December 31, 2021 through the date these financial statements were issued that would require recognition or disclosure in these financial statements. Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.