# LIVINGSTON SECURITIES, LLC X-17A-5 (2025-03-26) — Broker-dealer annual report - Company: LIVINGSTON SECURITIES, LLC - Form: X-17A-5 - Filed: 2025-03-26 - Period: 2024-12-31 - Accession: 0001180051-25-000004 - CIK: 1435253 - File #: 8-67901 - Type: Broker-dealer - Material weakness: No - Auditor: Ohab and Company, P.A. - Auditor location: Maitland, FL - Contact: Scott Livingston - Phone: 212 520 8481 - Email: scott@livingstonsecurities.com - Website: livingstonsecurities.com - Signed by: Scott Livingston (CEO) Original filing: https://www.sec.gov/Archives/edgar/data/1435253/000118005125000004/lsecpublic.pdf --- {0}------------------------------------------------ # LIVINGSTON SECURITIES LLC STATEMENT OF FINANCIAL CONDITION DECEMBER 31, 2024 {1}------------------------------------------------ **UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549** 0MB APPROVAL 0MB Number: 3235-0123 Expires: Nov. 30, 2026 Estimated average burden hours per response: 12 > SEC FILE NUMBER 8-67901 # **ANNUAL REPORTS FORM X-17A-5 PART** Ill **FACING PAGE** **Information Required Pursuant to Rules 17a-5, 17a-12, and 18a-7 under the Securities Exchange Act of 1934** FILING FOR THE PERIOD BEGINNING **O 1/01/2024** AND ENDING **12/31/2024** MM/DD/YY MM/DD/YY **A. REGISTRANT IDENTIFICATION** # NAME oF FIRM: Livingston Securities LLC TYPE OF REGISTRANT (check all applicable boxes): [!] Broker-dealer D Security-based swap dealer D Major security-based swap participant □ Check here if respondent is also an OTC derivatives dealer ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use a P.O. box no.) # 626 Rexcorp Plaza, Suite 603, West Tower | | | (No. and Street) | | | | | | | |-----------------------------------------------------------------------------------------------------|--|------------------------------------------------------------|--------------------------------------------|--------------------------------|--|--|--|--| | Uniondale | | NY | | 11556 | | | | | | (City) | | (State) | | (Zip Code) | | | | | | PERSON TO CONTACT WITH REGARD TO THIS FILING | | | | | | | | | | Scott Livingston | | 212 520 8481 | | scott@livingstonsecurities.com | | | | | | (Name) | | (Area Code - Telephone Number) | (Email Address) | | | | | | | | | B. ACCOUNTANT IDENTIFICATION | | | | | | | | INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing*
Ohab and Company, P.A. | | | | | | | | | | | | (Name - if individual, state last, first, and middle name) | | | | | | | | 1 oo E. Sybelia Ave, Suite 130 | | Maitland | FL | 32751 | | | | | | (Address) | | (City) | (State) | (Zip Code) | | | | | | 07-28-2004 | | | 1839 | | | | | | | rte of Regimatioo with PCAOB)(if applicable) | | | (PCAOB Regimatioo N"mbec, if applicable) I | | | | | | | 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-S(e)(l)(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.** {2}------------------------------------------------ #### OATH OA AFFIRMATION | _
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This tu1111• • contains (check all 1pplic1ble bo111s): - ii **(1)** Statement of flnanclal condition. - Ii (b) Nottt to consolldattd 5tatement of financial condition. - □ (c) Statement of incame (Ion) or, ii there Is other comprthen1ive income In the ptriod(J) pr11ented, a rtatemtnt of comprehensive income In defined in§ Zl0,1·02 of Regulation S•X). - □ ldl StJtement of cash flow,. - □ (~l 5t1tem11nt of ch1n1e1 In rtockholdert 01 p1rtner1' or salt proprietor's eqult','. - □ (t) St1ttm1nt ot **changes** Ir, li1bllltle£ subordinated to claims c,f eredirors. - □ (IJ Nottt tci consolldateil nMnclal sutements. - □ (h} COmpulltlon cf net Clp!\11 und1r 17 CFRZ40,15t3•1 or 17 rFR 240,18la•l, as applicable. - □ (i) COmput1tion otungJblt net worth under 17 CFR 240.18il•2. - □ Ul ,omp1.1~tlon for det1rmln1tlon of customtr rtserve requirements pursuant to bhlblt **,e** to 17 CFR 240.Uitl?l. - □ (k) COmput1Uo11 for deturminutron of soeurtty-bar;CKI swap re1erve rcqulremtnts pursu1n, to Eihiblt a to 11 CFR l40.1St3·] or Exhibit A to 17 CFR 240,111 , **11** appllc11ble. - □ (I) '°"11JM1tion for Dtt11rminatlon of PAI RoquJremtntG undtr bhlblt A t(l § 240,lStl•J, - □ linl lnfr.mnatton r,11t1n1 to po11111ion or control requlrtmenu for customtn undtr 17 tFR 240.15t3"3. - □ (n} 1nfr.1rm1tion r1l1t1111 tt.i pou1111on or ,ontrul requlrtmtnn fen 1ecurlty-b1m!d aw1p cuatomui undir 17 CFR 240.UcH(p)(2) or 17 t;fK 240,UII◄, **H** 11pplle11ble. - bl (ol R11«1m:lll1tl;n;, including 11ppropri1te npl1n1tlcm;, of the FOCUS Repgrt with ,omput1Uo11 of nit capl\11 o, t1n1lble ntt worth undtr 17 Crfl 240,lSCJ•l, 17 CFR Z40,lh-l, or 11 CFR %40,111•:l, 11 app1lc1bl1, anr.1 tht rftll'vt n1q1.1trtmt!r'lts wncler 11 CFR 240,!Stl·ll ar 11 t:FR %40,1111-4, 111ppliaible, If mattrilll dltftrenm Ullt, or I !tlntment th1, no m1ttriitl ditflfftl'lQ!'.S nltt. - Q (pl Summa,y of flnancal data for 1ub1ldlarltt not con1olld1ttr! Irr the u1t1mtnt of flnnntilll condl\1011. - I!!! **!q) 01tl'I** or affirffllti(lh In **,c,ordlntt** with 11 OR **240,171•5,** 17 OR **240,171•12, or** 17CFR **24(Ul1•7, H** 11ppllcabl1. - □ (1') Ctimpllanct rapon In accarcllmce with 11 t:FR %40.1/la•~ or 11 tFR Z40,1111•t, 1, 1pplit11blt. - 0 (tJ b@mptlon rtlpon In 1mm11111,e wnti, 1, Olt240,1J11,ts or 11 t.n240,1011•1, a, applleable. - ~(tl ltldopendtnt public 11a-0untant'; report b111td on 1r, 1Hmln1t1cm of lht n:1t1mtm of flnnntflal ~ndl\io11. - bl Jul ltldfpetldtm publlt a«uu11t1nr, roport **bHGd** on an Gllllllllnttillll of tht f1n1m:llll r1port or finDfltl~I Stllttffii!f\t:s undu 17 CIR 240, 1711•5, 17 LF II 240, UII• *7,* gr 17 tflt 24(1.1 lt·l.2, •• appli,tble. - □ (11) ltldopandtm public ac.:c;c11,11ttnt's ropon b111td on an 11Aiir111nation of ,,rt111i11 fi1n1ml!n~ In thC? ,umpll:u,c.12 rtpon undtt 11 tFIU41U 71i'l> 0111 tFll 241Uh• 1, 11 applle11ble. - ~ lwl ltlclff#@ndtnt p1,1bllt a«ountant's rl!pon bHttJ on a r,vltw of the t1AUmp\1Un roport 1.1ncltt 11 tFR ,.&0, 17:Hi or 11 tl-K JffU&t•I, a, applltiible. - Q (IC) Svpplr,mtrtUI (@porns on .ipplyilll lllfHG•US,On procecl"nll, In ilGl:Ufdlilltl! wm, 11 tFR l40,llt»•le or 11 L:FR ,4'0.111-U, iH appllable. - IJ Iv) ltrlp'7rt doi:riblng **In¥** ffiilerlill lnadfquatil!G flMlll tG flllli @I fo11nll tQ **hllY@** Ulltti'I lh'IH! the date of lliti prwlU\11 **audit,** or • sun,mrnt lh1t no m1rtr1111 1t1adequ11at;s exlrt, ut,d@~ 17 tFR l~IJ.17~1:l(k). bl t1)0thtt \_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ \_ - - 0 *ftJ* "qurit ,onJld1nt1al rriatmtm a/ mtc,11, pon,0111 a/ tlllJ Jl/ffl~ iH 17 t,R 140,J7a-S(tl(JJ c, 17 !FR 1"1,Jffl•l(f/lJJ, U.ii QIJIJ/ltUIJle. Chief Executive onrce, {3}------------------------------------------------ # **LIVINGSTON SECURITIES, LLC** #### **DECEMBER 31, 2024** #### **TABLE OF CONTENTS** | Report of Independent Registered Public Accounting Firm 1 | Page | |------------------------------------------------------------|------| | Statement of Financial Condition 2 | | | Notes to the Financial Statement. 3-8 | | {4}------------------------------------------------ ![](_page_4_Picture_0.jpeg) 100 E. **Sybelia** Ave. Suite 130 Maitland, FL 32751 *Certified Public Accountants* Email: pam@ohabco.com Telephone 407-740-7311 Fax 407-740-6441 #### REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Board of Directors and Members of Livingston Securities, LLC #### **Opinion on the Financial Statement** We have audited the accompanying statement of financial condition of Livingston Securities, LLC 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 Livingston Securities, LLC as of December 31, 2024 in conformity with accounting principles generally accepted in the United States of America. #### **Basis for Opinion** This financial statement is the responsibility of Livingston Securities, LLC's management. Our responsibility is to express an opinion on Livingston Securities, LLC'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 Livingston Securities, LLC 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 statements. 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 statements. We believe that our audit provides a reasonable basis for our opinion. ~~ We have served as Livingston Securities, LLC's auditor since 2022. Maitland, Florida March 21, 2025 {5}------------------------------------------------ #### **LIVINGSTON SECURITIES, LLC STATEMENT OF FINANCIAL CONDITION DECEMBER 31, 2024** #### **ASSETS** | Cash | \$
100,673 | |---------------------------------------|---------------| | Clearing deposit | 104,598 | | Securities owned, at fair value | 5,240 | | Commission receivable | 26,214 | | Other assets | 13,576 | | | | | Total assets | \$
250,301 | | | | | LIABILITIES AND MEMBER'S EQUITY | | | Liabilities: | | | Accounts payable | \$
27,607 | | Due to related parties (Note 4) | 5,145 | | | | | Total liabilities | 32,752 | | Member's equity | 217,549 | | | | | Total liabilities and member's equity | \$
250,301 | See notes to the financial statements. {6}------------------------------------------------ ### **1. Organization and Significant Accounting Policies** ## **Or1:anization and business** Livingston Securities, LLC (the "Company") is a New York Limited Liability Company formed on February 21, 2008. The Company conducts a securities investment banking business in which it purchases and sells securities on behalf of its clients. The Company is registered with the U.S. Securities and Exchange Commission ("SEC") under the Securities Exchange Act of 19 34 and is a member of both the Financial Industry Regulatory Authority, Inc. ("FINRA"). The Company is a wholly owned subsidiary of the Livingston Group of Companies, LLC (the "Parent"). In addition, the Company is affiliated with Livingston Services, LLC (the "Related Entity") which is also a wholly owned subsidiary of its Parent. # **Revenue reco1:nition** The Company records securities transactions and related revenue and expenses on a settlement date basis. Transactions recorded on a trade date basis would not be materially different. Investment banking revenue is recorded based on the terms of the respective agreements and deferred until earned by the Company. In accordance with ASU No. 2014-09, "Revenue from Contracts with Customers" ("ASC Topic 606") revenues from contracts with customers is recognized when, or as, the Company satisfies its performance obligations by transferring the promised services to the customers. A service is transferred to a customer when, or as, the customer obtains control of that service. A performance obligation may be satisfied at a point in time or overtime. Revenue from a performance obligation satisfied at a point in time is recognized at the point in time that the Company determines the customer obtains control over the promised service. Revenue from a performance obligation satisfied over time is recognized by measuring the Company's progress in satisfying the performance obligation in a manner that depicts the transfer of the services to the customer. The amount of revenue recognized reflects the consideration the Company expects to receive in exchange for those promised services (i.e., the "transaction price"). In determining the transaction price, the Company considers multiple factors, including the effects of variable consideration, if any. {7}------------------------------------------------ # **1. Organization and Significant Accounting Policies (con't)** # **A1:reement with clearin& broker** The Company under Rule 15c3-3 (k)(2)(ii) is exempt from the reserve and possession or control requirements of Rule 15c3-3 of the Securities and Exchange Commission. The Company does not carry or clear customer accounts. Accordingly, all customer transactions are executed and cleared on behalf of the Company by its clearing broker on a fully disclosed basis. The Company's agreement with its clearing broker provides that as clearing broker, that firm will make and keep such records of the transactions effected and cleared in the customer accounts as are customarily made and kept by a clearing broker pursuant to the requirements of Rule 17a-3 and 17a-4 of the Securities and exchange Act of 1934, as amended (the "Act"). It also performs all services customarily incident thereon, including the preparation and distribution of customer confirmations and statements and maintenance margin requirements under the Act and the rules of the Self-Regulatory Organizations of which the Company is a member. # **Cash and cash equivalents** For the purposes of the statement of cash flows, the Company considers investments with original maturities of three months or less to be cash equivalents. # **Estimates** The preparation of financial statement in conformity with accounting principles generally accepted in the United States of America requires management 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 and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. # **Income Taxes** The financial statement doesn't include a provision for income taxes because the Company is not a taxable entity, and its member is taxed on its respective share of the Company's earnings. {8}------------------------------------------------ ### **LIVINGSTON SECURITIES, LLC NOTES TO THE FINANCIAL STATEMENT DECEMBER 31, 2024** # **1. Organization and Significant Accounting Policies (con't)** ## **Income Taxes (con't)** The company is required to determine whether a tax position is more likely than not to be sustained upon examination by the applicable taxing authority. Including resolution of any tax related appeals or litigation processes, based on the technical merits of the position. The Company files an income tax return in the U.S. federal jurisdiction and may file income tax returns in various U.S. states. The Company is not subject to income tax return examinations by major taxing authorities for years before 2018. The tax benefit recognized is measured as the largest amount of benefit that has a greater than fifty percent likelihood of being realized upon ultimate settlement. De-recognition of a tax benefit previously recognized results in the Company recording a tax liability that reduces net assets. However, the Company's conclusions regarding this policy may be subject to review and adjustment at a later date based on factors including, but not limited to, on-going analysis of and changes to tax laws, regulations and interpretations thereof. The Company recognizes interest accrued related to unrecognized tax benefits and penalties related to unrecognized tax benefits in income taxes payable, if assesses. No interest expense or penalties have been recognized as of and for the year ended December 31, 2024. ### **Furniture and equipment** Furniture and equipment are stated at cost and depreciated using the straight-line method over the estimated useful lives of three years. # **Basis of Accountin& and Tradin& and Valuation of Securities** The Company values its securities in accordance with Accounting Standards Codification 820 - Fair Value Measurements ("ASC 820"). Under ASC 820, fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (i.e., the "exit price") in an orderly transaction between market participants at the measurement date. In determining fair value, the Company uses various valuation approaches. ASC 820 establishes a fair value hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. {9}------------------------------------------------ # **1. Organization and Significant Accounting Policies (con't)** ## **Basis of Accountin& and Tradin& and Valuation of Securities** ( **continued)** Observable inputs are those that market participants would be used in pricing the asset or liability based on market data obtained from sources independent of the Company. Unobservable inputs reflect the Company's assumption about the inputs market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. The fair value hierarchy is categorized into three levels based on the inputs as follows: Level 1 - Valuations based on unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access. Valuation adjustments and blockage discounts are not applied to Level 1 securities. Since valuations are based on quoted prices that are readily and regularly available in an active market, valuation of these securities does not entail a significant degree of judgment. Level 2 - Valuations based on quoted prices in markets that are not active or for which all significant inputs are observable. Either directly or indirectly. Level 3 - Valuations based on inputs that are unobservable and significant to the overall fair value measurement. # **Adoption of new accountin& standards** The FASB issued (ASU) 2023-07, "Segment Reporting" (Topic 280) which increased disclosure requirements regarding a public entity's reportable segments effective for fiscal years beginning after December 15, 2023. ASU 2023-07 requires incremental line-item disclosures about each reportable segment's expenses as well as profit and losses. The Company has evaluated the guidance there under and has determined that The Company operates as one operating segment. For further discussion refer to Footnote 7, Reportable Segments. # **2. Fair Value of Financial Instruments** The Company's assets and liabilities recorded at fair value have been categorized based upon a fair value hierarchy as described in the Company's significant accounting policies in Note 1. Assets utilizing level 2 inputs include two equity positions valued at \$5,240 as of December 31, 2024. The Company did not have any level 1 or 3 assets as of December 31, 2024. There were no transfers between level 1, 2 or 3 during the year ending December 31, 2024. {10}------------------------------------------------ ### **LIVINGSTON SECURITIES, LLC NOTES TO THE FINANCIAL STATEMENT DECEMBER 31, 2024** #### 3. **Net Capital Requirements** Pursuant to the net capital provisions of Rule 15c3-1 of the Securities Exchange Act of 1934, the Company is required to maintain a minimum net capital, as defined under such provisions. At December 31, 2024, the Company had net capital of \$203,187 and net capital requirement of \$100,000. The Company's net capital ratio (aggregate indebtedness to net capital) was .016 to 1. According to Rule 15c3-1, the Company's net capital ratio shall not exceed 15 to 1. #### **4. Commitments and Related Party Transactions** The Company is provided office space and facilities from its Related Entity under as expense sharing agreement. Under the agreement the Company is required to reimburse the Related Entity 90% of the costs to utilize common office space, personnel, and administrative services. The Company has a payable of \$5,038 to a Related Entity and has a payable of \$107 to its Parent as of December 31, 2024. The parent provided \$700,000 of capital contributions to the Company during the year 2024. #### **5. Financial Instruments, Off-Balance Sheet Risk and Contingencies** In the normal course of business, the Company's client activities, through its clearing broker, involve the execution, settlement and financing of various client securities transactions. These activities may expose the Company to off- balance sheet risk. In the event the client fails to satisfy its obligations, the Company may be required to purchase or sell financial instruments at prevailing market prices in order to fulfill the client's obligations. The Company has receivables from and deposits with its clearing broker as shown on the accompanying statement of financial condition. These amounts are not covered by SIPC and are subject to loss should the clearing broker cease business. The Company's financial instruments, including cash, clearing deposit, comm1ss1on receivable, other assets, accounts payable, due to related parties and deferred revenue are carried at amounts that approximate fair value due to the short-term nature of those instruments. The Company maintains its cash in one financial institution. At times, the amount on the deposit at this institution may exceed the maximum balance insured by the Federal Deposit Insurance Corporation ("FDIC"). {11}------------------------------------------------ ### **LIVINGSTON SECURITIES, LLC NOTES TO THE FINANCIAL STATEMENT DECEMBER 31, 2024** #### **6. Reportable Segments** The Company is engaged in a single line of business as a securities broker-dealer, which conducts a securities investment banking business in which it purchases and sells securities on behalf of its clients. The Company has identified its Chief Executive Officer as the chief operating decision maker ("CODM"), who uses net income to evaluate the results of the business, predominantly in the forecasting process, to manage the Company. Additionally, the CODM uses excess net capital (see Note 3), which is not a measure of profit and loss, to make operational decisions while maintaining capital adequacy, such as whether to reinvest profits or pay dividends. The Company's operations constitute a single operating segment and therefore, a single reportable segment, because the CODM manages the business activities using information of the Company as a whole. The accounting policies used to measure profit and loss of the segment as the same as those described in the summary of significant accounting policies. #### **7. Subsequent Events** The Company has performed an evaluation of subsequent events through the date the financial statement was issued. The evaluation did not result in any subsequent events that required disclosures and/or adjustments. Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.