# LEGG MASON INVESTOR SERVICES, LLC X-17A-5 (2020-05-29) — Broker-dealer annual report
- Company: LEGG MASON INVESTOR SERVICES, LLC
- Form: X-17A-5
- Filed: 2020-05-29
- Period: 2020-03-31
- Accession: 0001132573-20-000010
- CIK: 1132573
- File #: 8-53089
- Material weakness: No
- Auditor: PricewaterhouseCoopers LLP
- Auditor location: New York, NY
- Contact: Jacqueline Diehm
- Phone: 410-207-1485
- Signed by: Jacqueline Diehm (Chief Financial Officer)
Original filing: https://www.sec.gov/Archives/edgar/data/1132573/000113257320000010/LMIS_BS_3.20.pdf
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## **Report of Independent Registered Public Accounting Firm**
To the Board of Directors and Member of Legg Mason Investor Services, LLC
#### *Opinion on the Financial Statement – Balance Sheet*
We have audited the accompanying balance sheet of Legg Mason Investor Services, LLC (the "Company") as of March 31, 2020, including 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 March 31, 2020 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 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 of this financial statement 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 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 provides a reasonable basis for our opinion.
May 28, 2020
We have served as the Company's auditor since 2006.
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*These financial statements are deemed confidential pursuant to Rule 17a-5 subparagraph (e)(3) of the Securities and Exchange Commission.*
*See accompanying notes to financial statements.*
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#### *Organization and Basis of Presentation*
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#### *Legg Mason Plan of Merger with Franklin Resources, Inc.*
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#### *Risks and Uncertainties*
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#### *Use of Estimates*
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#### *Fair Value Measurements*
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