# FEF DISTRIBUTORS, LLC X-17A-5 (2024-02-28) — Broker-dealer annual report - Company: FEF DISTRIBUTORS, LLC - Form: X-17A-5 - Filed: 2024-02-28 - Period: 2023-12-31 - Accession: 0001075919-24-000001 - CIK: 1075919 - File #: 8-51483 - Type: Broker-dealer - Material weakness: No - Auditor: Ernst & Young LLP - Auditor location: New York, NY - Contact: Chun Fong - Phone: 2126983451 - Email: chun.fong@firsteagle.com - Website: firsteagle.com - Signed by: Chun Fong (CFO) Original filing: https://www.sec.gov/Archives/edgar/data/1075919/000107591924000001/FEFDFS2023SOFC.pdf --- {0}------------------------------------------------ # FEF Distributors, ttO Secunrties Investon Pnotectron Conponation Fonm SIPC-7 I Repont of Independent Registened Public Accounting Finm on Applying Agneed-Upon Pnocedunes Yean Ended Decemben 31,2023 Thrs nepont is deemed CONFIDENTIAL in accor-dance with Rule L7a-5(e)(3) unden the cunities Act of f934. {1}------------------------------------------------ | | UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C, 20549 | | Of\rB APPROVAL
OMB Nurnber: 3235-0123
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hours per response: 12 | | |-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------|---------------|---------------------------------------------------------------------------------------------------------------------------|--| | | ANNUAL REPORTS | | | | | | FORM X-17A-5 | | 8-51483 | | | | PART III | | | | | FACING PAGE
lnformatlon Required Pursuant to Rules L7a-5, L7a-L2, and 18a-7 under the Securities Exchange Act of 1934 | | | | | | FILING FOR THE PERIOD BEG
TNNTNG | o1 101 123
AN | D ENDTNG | 12131 123 | | | | MM/DD/YY | | MM/DD/YY | | | | A. REG ISTRANT ! DENTI FICATION | | | | | NAME OF FIRM | FEF Distri butors, LLC | | | | | TYPE OF REGISTRANT (check all applicable boxes):
I Major security-based swap participant
E Broker-dealer I Security-based swap dealer
I Check here if respondent ls also an OTC derivatives dealer | | | | | | | ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use a P,O, box no.) | | | | | 1345 Avenue of the Americas | | | | | | | (No. and Street) | | | | | New York | NY | | 10105 | | | (City) | (Zip Code)
(State) | | | | | PERSON TO CONTACT WITH REGARD TO THIS FILING | | | | | | Chun Fong | 212-698-3451
C h u n. Fong @firsteagle. corn | | | | | (Name) | (Area Code - Telephone Nurnber) | | (Email Address) | | | B. ACCOUNTANT I DENTI FICATION | | | | | | INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing*
Ernst & Young LLP | | | | | | (Name - if individual, state last, first, and middle name) | | | | | | One Manhattan | West New York | | NY
10001 -8604 | | | (Address)
1012012003 | (City) | (State)
42 | (Zip Code ) | | | n with PCAO | | | if
stration | | | FOR OFFICIAL USE ONLY | | | | | | * Claims | exemption from the requirement that the annual reports be covered by | | reports of an independent Public | | the basis of the exernption. See 17 accountant must be supported by a statement of facts and circumstances relied on as CFR 240.17a-5(eXlXii), if applicable. persons who are to respond to the collection of information contained in this form are not required to respond unless the {orm displays a currently valid OMB control number. {2}------------------------------------------------ ### OATH OR AFFIRMATION | t, | Chun Fong | swear (or affirrn) that, to the best of my knowledge and belief, the | | | |-------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------|--|--| | FEF Distributors, LLC
as of
fina ncial report pertaining to the firm of | | | | | | | 2 023 . is true and correct. I further swear (or affirm) that neither the company nor any
December 31 | | | | | | partner, officer, director, or equivalent person, as the case may be, has any proprietary interest in any account classified solely | | | | | as | of | | | | | | {'kk-" | | | | | | lrn4 Cr\
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Chief | | | | | | | | | | | | AN | | | | | Pu | BATYA KAI"JFIVI
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all applicable boxes): | f\l ;' 0 i i';r\i:i 'r '3 a 'i "i 4
*{ | | | | | D (a) Statement of financial condition. | co m *,?;l?,'il rl;lJt' *Jl. ;l'YIu, | | | | | n (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 5 210.1-02 of Regulation S'X). | | | | | | tr (d) Statement of cash flows, | | | | | | n (e) Statement of changes in stockholders' or partners' or sole proprietor's equity' | | | | | | tr (f) Statement of changes in liabilities subordinated to claims of creditors. | | | | | | tl (g) Notes to consolidated financial statements. | | | | | | tr (h) Computation of net capital under 17 CFR 240.15c3-1 or 17 CFR 240.18a-1, as applicable. | | | | | | n (i) Computation of tangible net worth under 17 CFR 240.18a-2' | | | | | | n fi) Computation for determination of customer reserye requirements pursuant to Exhibit A to 17 CFR 240'15c3-3. | | | | | | tr (k) Computation for determination of security-based swap reserye requirements pursuant to Exhibit B to 17 CFR 240.15c3-3 or | | | | | | Exhibit A to 17 CFR 240.78a-4, as applicable' | | | | | | D (l) Computation for Determination of PAB Requirements under Exhibit A to 5 240'15c3-3. | | | | | | f] (m) lnformation relating to possession or control requirements for customers under 17 CFR 240.15c3-3' | | | | | | tr (n) lnformation relating to possession or control requlrements for security-based swap customers under 17 CFR | | | | | | 240.15c3-3(p)l2l or L7 CFR 240,18a-4, as applicable. | | | | | | tr (o) Reconciliations, including appropriate explanations, of the FOCUS Report with computation of net capital or tangible net | | | | | | worthunderlTcFR 240,15c3-l,77CFR 240.18a-l,or!7 CFR240.18a-2,asapplicable,andthereserverequirementsunderlT
CFR 240.1Sc3-3 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. | | | | | | | | | | | | E (q) Oath or affirmation in accordance with 17 CFR 240,17a-5, 17 CFR 24O.t7a-L2, or 17 CFR 240.L8a-7 , as applicable.
tr (r) Compliance report in accordance with 17 CFR 240.17a-5 or 17 CFR 240,18a-7 , as applicable. | | | | | | tr (s) Exemption report in accordance with 17 CFR 240.17a-5 or 17 CFR 24O.78a-7, as applicable. | | | | | | tr (t) lndependent public accountant's report based on an examination of the statement of financial condition. | | | | | | n (u) lndependent public accountant's report based on an examinatlon of the financial report or financial statements under 17 | | | | | | CFR 240.17a-5, 17 CFR 24O.78a'7, or 17 CFR 240.77a-12, as applicable' | | | | | | tr (v) lndependent public accountant's report based on an examination of certain statements in the compllance report under 17 | | | | | | CFR 240.17a-5 or 17 CFR 240.L8a'7, as appllcable. | | | | | | tr (w) lndependent 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' | | | | | | A (x) Supplemental reports on applying agreed-upon procedures, ln accordance with 17 CFR 240'15c3-te or t7 CFR24O'L7a-72, | | | | | | as applicable. | | | | | | n (y) Report describing any material inadequacies lound to exist or found to have existed since the date of the previous audit, or | | | | | | a statement that no material inadequacies exist, under 17 cFR240.t7a-12(k). | | | | | | D (z)Other: | | | | | | '*To request confidentiol treotment of certoin portions of this filing, see 77 cFR240.17o'5(e)(3) or 17 cFR2a0'\$o-7(d)(2)' os | | | | opplicoble. {3}------------------------------------------------ ![](_page_3_Picture_0.jpeg) ET Ernst & Young LLP Te!: +1 212773 3000 One Manhattan West ey.com New York, NY 10001-8604 ## Report of Independent Registered Public Accounting Firm on Applying Agreed-Upon Procedures To the Board of Directors and Management of FEF Distributors, LLC: We have performed the procedures included in Rule 17a-5(e)(a) under the Securities Exchange Act of 1934 and, in the Securities Investor Protection Corporation (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 FEF Distributors, LLC (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 year ended December 31, 2023. Additionally, SIPC has agreed to and acknowledged that the procedures performed are appropriate for their intended purpose. This report r4ay 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 axe 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 ofthe 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 findings are as follows: 1. Compared the assessment payments made in accordance with the General Assessment Payment Form (Form SIPC-6) and applied to the General Assessment calculation on Form SIPC-7 with respective cash disbursement record entries as detailed in the Company's bank statements. No findings were found as a result of applying the procedure. 2. Compared the amounts reported in the audited financial statements required by SEC Rule l7a-5 with the amounts reported in Form SIPC-7 for the fiscal year ended December 31,2023. No findings were found as a result of applying the procedure. 3. Compared any adjustments reported in Form SIPC-7 with supporting schedules and working papers supporting the adjustments. Not applicable as there were no adjustments reported in Form SIPC-7 4. Recalculated the arithmetical accuracy of the calculations reflected in Form SIPC-7 and in the schedules and working papers supporting the adjustments. No findings were found as a result of applying the procedure. {4}------------------------------------------------ ![](_page_4_Picture_0.jpeg) 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 American Institute of Certified Public Accountants and in accordance with the standards ofthe Public Company Accounting Oversight Board (United States). An agreed-upon procedures engagement involves the practitioner performing specific procedures that the engaging party has agreed to and acknowledged to be appropriate for the purpose of the engagement and reporting on findings based on the procedures performed. 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. This report is intended solely for the information and use of the specified parties listed above and is not intended to be, and should not be, used by anyone other than these specified parties. fut 7 New York, NY February 28,2024 {5}------------------------------------------------ SIPC-7 37 REV 0722 ### SECURITIES INVESTOR PROTECTION CORPORATION SIPC-7 37 REV 0722 #### GENERAL ASSESSMENT FORM For the fiscal year ended 1213112023 | | Determination of "SIPC NET Operating Revenues" and GeneralAssessment for:
MEMBERNAME
FEF DISTRIBUTORS LLC | SECNO.
8-51483 | | |---|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------------------|-------------------| | | 1t1t2023
For the fiscal
and | 1213112023 | | | I | Total Revenue (FOCUS Report - Statement of lncome (Loss)- Code 4030) | | \$ 00,376,706.00 | | 2 | Additions: | | | | | a Total revenues from the securities business of subsidiaries (except foreign
subsidiaries) and predecessors not included above. | \$ 0.00 | | | | b Net loss from principal transactions in securities in trading accounts. | \$ 0.00 | | | | c Net loss from principal transactions in commodities in trading accounts. | \$ 0.00 | | | | d lnterest and dividend expense deducted in determining item 1. | \$ 0.00 | | | | e Net loss from management of or participation in the underwriting or
distribution of securities. | \$ 0.00 | | | | f Expenses other than advertising, printing, registration fees and legal fees
deducted in determining net profit management of or participation in
underwriting or distribution of securities. | \$ 623,280.00 | | | | g Net loss from securities in investment accounts. | \$ 0.00 | | | | h Add lines 2a through 29. This is your total additions. | | \$ 623,280.00 | | 3 | Add lines 1 and 2h | | \$ 66,999,986.00 | | 4 | Deductions: | | | | | a Revenues from the distribution of shares of a registered open end investment
company or unit investment trust, from the sale of variable annuities, from the
business of insurance, from investment advisory services rendered to
registered investment companies or insurance company separate accounts
and from transactions in security futures products. | \$ 65,985,612.00 | | | | b Revenues from commodity transactions. | \$ 0.00 | | | | c Commissions, floor brokerage and clearance paid to other SIPC members
in connection with securities transactions. | \$ 0.00 | | | | d Reimbursements for postage in connection with proxy solicitations. | \$ 0.00 | | | | e Net gain from securities in investment accounts. | \$ 0.00 | | | | t 100% commissions and markups earned from transactions in (l) certificates
of deposit and (ii) Treasury bills, bankers acceptances or commercial paper
that mature nine months or less from issuance date. | \$ 0.00 | | | | g Direct expenses of printing, advertising, and legal fees incurred in connection
with other revenue related to the securities business (revenue defined by
Section 16(9)(L) of theAct). | \$ 0.00 | | | | h Other revenue not related either directly or indirectly to the securities business.
Deductions tn excess of \$100,000 require documentation | \$ 170,894.00 | | | | 5 a Total interest and dividend expense (FOCUS Report - Statement
of lncome (Loss) - Code 4075 plus line 2d above) but | | | | | \$ 0.00
not in excess of total interest and dividend income | | | | | b 40% of margin interest earned on customers securities accounts
(40% of FOCUS Report - Statement of lncome (Loss) -
\$ 0.00
Code 3960) | | | | | c Enter the greater of line 5a or 5b | \$ 0.00 | | | 6 | Add lines 4a through 4h and 5c. This is your total deductions. | | \$ oo,1 56,506.00 | {6}------------------------------------------------ | SECURITIES INVESTOR PROTECTION CORPORATION | slPc,7 | |--------------------------------------------|--------| | | | SIPC.7 37 REV 0722 37 REV 0722 ## GENERAL ASSESSMENT FORM For the fiscal year ended 1213112023 | 7 | | Subtract line 6 from line 3. This is your SIPC Net Operating Revenues. | | | \$ 843,480.00 | |----|--------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------|---------------------------------|--------------------------------------|---------------| | 8 | | Multiply line 7 by .0015. This is your General Assessment. | | | \$ 1,265.00 | | 9 | | Current overpaymenUcredit balance, if any | | | \$ 0.00 | | | | 1O General assessment from last filed 2023 SIPC-6 or 6A | | \$ 648.00 | | | | b Any other overpayments applied
d Add lines 11a through 11c | 11 a Overpayment(s) applied on all 2023 SIPC-6 and 6A(s)
c All payments applied for 2023 SIPC-6 and 6A(s) | \$ 0.00
\$ 0.00
\$ 648.00 | \$ 648.00 | | | | '12 LESSER of line 10 or 11d. | | | | \$ 648.00 | | | 13 a Amount from line 8
b Amount from line 9
c Amount from line 12 | | | \$ 1 ,265.00
\$ 0.00
\$ 648.00 | | | | | d Subtract lines 13b and 13c from 13a. This is your assessment balance due. | | | \$ 0t 7.00 | | | 14 | lnterest (see instructions) for 0
days late at2}o/o per annum | | | \$ 0.00 | | 15 | | you owe SIPC. Add lines 13d and 14. | | | \$ otz | | | | 16 OverpaymenUcredit carried forward (if applicable) | | | \$ 0.00 | | | No.
483 | Designated Examining Authority
DEA: FINRA | FYE
2023 | Month
Dec | | | | NAME
ADDRESS | FEF DISTRIBUTORS LLC
1345 AVENUE OF THE AMERICAS 48th FLR
NEW YORK, NY 1O1O5.4BOO | | | | Subsidiaries (S) and predecessors (P) included in the form (give name and SEC number) V By checking this box, you certifiT that you have the authority of the SIPC member to sign this form; that all information in this form is true and complete; and that on behalf of the SIPC member, you are authorized, and do hereby consent, to the storage and handling by SIPC of the data in accordance with SIPC's Privacy Policy | FEF DISTRIBUTORS LLC | Chun Fong | |-----------------------|------------------------| | (Name of SIPC Member) | (Authorized Signatory) | | 2t2812024 | chun.fo
le.com | | (Date) | (e'mailaddress) | Completion of the "Authorized Signatory" line will be deemed a signature. This form and the assessment payment are due 60 days after the end of the fiscal year. Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.