# UOB GLOBAL EQUITY SALES LLC X-17A-5 (2024-02-26) — Broker-dealer annual report - Company: UOB GLOBAL EQUITY SALES LLC - Form: X-17A-5 - Filed: 2024-02-26 - Period: 2023-12-31 - Accession: 0001225152-24-000001 - CIK: 1225152 - File #: 8-65886 - Type: Broker-dealer - Material weakness: No - Auditor: Citrin Cooperman & Company LLP - Auditor location: White Plains, NY - Contact: Howard Berkenfeld - Phone: 212-398-6633 - Email: hberkenfeld@uobglobal.com - Website: uobglobal.com - Signed by: Howard Berkenfeld (CCO) Original filing: https://www.sec.gov/Archives/edgar/data/1225152/000122515224000001/uobes1.pdf --- {0}------------------------------------------------ **UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549** > **ANNUAL REPORTS FORM X-17 A-5** 0MB APPROVAL 0MB Number: 3235-0123 Expires: Nov. 30, 2026 Estimated average burden hours per response: 12 > SEC FILE NUMBER 8-65886 # **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 1/01/2023** AND ENDING **12/31/2023** MM/DD/VY MM/DD/VY **A. REGISTRANT IDENTIFICATION** ## NAME oF FIRM: UOB Global Equity Sales LLC TYPE OF REGISTRANT (check all applicable boxes): C!J 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.) ## 592 Fifth Avenue, Suite 602 | | (No. and Street) | | | |---------------------------------------------------------------------------------------------------------------|------------------------------------------------------------|---------------------------|------------| | New York | NY | | 10036 | | (City) | (State) | | (Zip Code) | | PERSON TO CONTACT WITH REGARD TO THIS FILING | | | | | Howard Berkenfeld | 212-398-6633 | hberkenfeld@uobglobal.com | | | (Name) | (Area Code -Telephone Number) | (Email Address) | | | | | | | | | B. ACCOUNTANT IDENTIFICATION | | | | INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing *
Citrin Cooperman & Company, LLP | | | | | | (Name - if individual, state last, first, and middle name) | | | | 709 Westchester Avenue | White Plains | NY | 10604 | | (Address) | (City) | (State) | (Zip Code) | | 11/02/05 | | 2468 | | | | | | | \* 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.** {1}------------------------------------------------ #### **OATH OR AFFIRMATION** I, Howard Berkenfeld swear (or affirm) that, to the best of my knowledge and belief, the financial report pertaining to the firm of UOB Global Equity Sales LLC as of **12/31** 2~, 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. ROBERT ILARIA Notary Public-State of New York No. 01IL6134434 Qualified in Westchester County My Commission Expires 10-3-2025 R~~ | Signature: | | |------------|--| | | | Title: cco Notary Public #### **This filing\*\* contains (check all applicable boxes):** - **iii** (a) Statement of financial condition. - D (b) Notes to consolidated statement of financial condition. - **iii** (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). - **iii** (d) Statement of cash flows. - **iii** (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. - **iii** (g) Notes to consolidated financial statements. - **iii** (h) Computation of net capital under 17 CFR 240.15c3-1 or 17 CFR 240.lSa-1, as applicable. - D (i) Computation of tangible net worth under 17 CFR 240. lSa-2. - **iii** (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.lSa-4, as applicable. - D (I) Computation for Determination of PAB Requirements under Exhibit A to§ 240.15c3-3. - **iii** (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.lSa-4, as applicable. - **iii** (o) Reconciliations, including appropriate explanations, of the FOCUS Report with computation of net capital or tangible net worth under 17 CFR 240.15c3-1, 17 CFR 240.lSa-1, or 17 CFR 240.lSa-2, as applicable, and the reserve requirements under 17 CFR 240.15c3-3 or 17 CFR 240.lSa-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. - **iii** (q) Oath or affirmation in accordance with 17 CFR 240.17a-5, 17 CFR 240.17a-12, or 17 CFR 240.lSa-7, as applicable. - D (r) Compliance report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.lSa-7, as applicable. - **iii** (s) Exemption report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.lSa-7, as applicable. - D (t) Independent public accountant's report based on an examination of the statement of financial condition. - **iii** (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.lSa-7, or 17 CFR 240.17a-12, as applicable. - D (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. - **iii** (w) Independent public accountant's report based on a review of the exemption report under 17 CFR 240. l 7a-5 or 17 CFR 240. lSa-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 CFR 240.17a-12(k). D (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}------------------------------------------------ REPORT PURSUANT TO RULE 17a-5(e)(3) and Reports of Independent Registered Public Accounting Firm UOB GLOBAL EQUITY SALES LLC (A Limited Liability Company) FINANCIAL STATEMENTS AND SUPPLEMENTAL INFORMATION > FOR THE YEARS ENDED DECEMBER 31, 2023 AND 2022 {3}------------------------------------------------ #### **FOR THE YEARS ENDED DECEMBER 31, 2023 AND 2022** #### **TABLE OF CONTENTS** | REPORT OF INDEPENDENT REGISTERED PUBLIC
ACCOUNTING FIRM | 1-2 | |------------------------------------------------------------|-----------| | FINANCIAL STATEMENTS | | | Statements of Financial Condition | 3 | | Statements of Operations | 4 | | Statements of Changes in Member's Equity | 5 | | Statements of Cash Flows | 6 | | Notes to Financial Statements | 7 -
11 | #### **SUPPLEMENTAL INFORMATION** | Computation ofNet Capital Pursuant to Rule 15c3-1 of the Securities
Schedule I -
and Exchange Commission | 12 | |-------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----| | Computation for Determination of Reserve Requirements under
Schedule II -
Rule 15c3-3 and Information for Possession or Control Requirements under Rule
15c3-3 | 13 | | Report oflndependent Registered Public Accounting Firm | 14 | | Exemption Report | 15 | {4}------------------------------------------------ ![](_page_4_Picture_0.jpeg) **Citrin Cooperman** & **Company, LLP** Certified Public Accountants 709 Westchester Avenue White Plains, NY 10604 **T** 914.949.2990 **F** 914.949.2910 citrincooperman.com #### **REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM** To the Member UOB Global Equity Sales LLC #### **Opinion on the Financial Statements** We have audited the accompanying statements of financial condition of UOB Global Equity Sales LLC (a limited liability company) as of December 31, 2023 and 2022, and the related statements of operations, changes in member's equity, and cash flows for the years then ended, and the related notes (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of UOB Global Equity Sales LLC as of December 31, 2023 and 2022, and the results of its operations and its cash flows for the years then ended in conformity with accounting principles generally accepted in the United States of America. #### **Basis for Opinion** These financial statements are the responsibility of UOB Global Equity Sales LLC's management. Our responsibility is to express an opinion on UOB Global Equity Sales LLC's financial statements based on our audits. 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 UOB Global Equity Sales 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 audits 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 statements are free of material misstatement, whether due to error or fraud. Our audits included performing procedures to assess the risks of material misstatement of the financial statements, 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 audits 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 audits provide a reasonable basis for our opinion. {5}------------------------------------------------ ![](_page_5_Picture_0.jpeg) #### **Auditor's Report on Supplemental Information** The supplemental information contained in Schedule I and Schedule II has been subjected to audit procedures performed in conjunction with the audit of UOB Global Equity Sales LLC's financial statements. The supplemental information is the responsibility of UOB Global Equity Sales LLC's management. Our audit procedures included determining whether the supplemental information reconciles to the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplemental information. In forming our opinion on the supplemental information, we evaluated whether the supplemental information, including its form and content, is presented in conformity with 17 **C.F.R.** §240.1 7a-5. In our opinion, the supplemental information contained in Schedules I and II is fairly stated, in all material respects, in relation to the financial statements as a whole. i~~~~.~ We have served as UOB Global Equity Sales LLC's auditor since 2011. White Plains, New York February 22, 2024 "Citrin Cooperman" is the brand under which Citrin Cooperman & Company, LLP, a licensed independent CPA firm, and Citrin Cooperman Advisors LLC serve clients' **business needs. The two firms operate as separate legal entities in an alternative practice structure. The entities of Citrin Cooperman & Company, LLP and Cit.tin Cooperman** Advisors LLC are independent member firms of the Moore North America, Inc. (MNA) Association, which is itself a regional member of Moore Global Network Limited **(MGNL). All the firms associated with MNA are independently owned and managed entities. Their membership in, or association with, MNA should not be construed as** constituting or implying any partnership between them. {6}------------------------------------------------ #### **STATEMENTS OF FINANCIAL CONDITION** #### **DECEMBER 31, 2023 AND 2022** | | 2023 | 2022 | |---------------------------------------|---------------|---------------| | ASSETS | | | | Cash | \$
511,045 | \$
177,874 | | Receivables from customers | ,464
41 | 193,344 | | Prepaid expenses | 730 | 874 | | Total Assets | \$
553,239 | \$
372,092 | | LIABILITIES AND MEMBER'S EQUITY | | | | LIABILITIES | | | | Accrued expenses | \$
25,944 | \$
21,900 | | Due to Parent | 49,905 | 14,484 | | Total Liabilities | 75,849 | 36,384 | | COMMITMENTS AND CONTINGENCIES | | | | MEMBER'S EQUITY | 477,390 | 335,708 | | Total Liabilities and Member's Equity | \$
553,239 | \$
372,092 | {7}------------------------------------------------ #### **UOB GLOBAL EQUITY SALES LLC (A Limited Liability Company) STATEMENTS OF OPERATIONS** #### **FOR THE YEARS ENDED DECEMBER 31, 2023 AND 2022** | | 2023 | 2022 | |--------------------------------------------------------------------------------|---------------|---------------| | REVENUES | | | | Management fees | \$
432,242 | \$
279,903 | | Incentive fees | | 35,694 | | Interest income | 18 | 12 | | Total Revenues | 432 260 | 315 609 | | EXPENSES | | | | Pavroll and benefits | 179,235 | 143,814 | | Rent | 18,000 | 18,000 | | Professional fees | 49,505 | 47,400 | | Comoliance fees | 20,250 | 16,500 | | Administration fees | 12.000 | 12.000 | | Licenses and fees | 5,307 | 4,472 | | Other | 2 667 | 666 | | Total general and administrative expenses
before provision for income taxes | 286,964 | 242,852 | | Provision for income taxes | 3,614 | | | NET INCOME | \$
141,682 | \$
72 757 | {8}------------------------------------------------ ### **UOB GLOBAL EQUITY SALES LLC (A Limited Liability Company) STATEMENTS OF CHANGES IN MEMBER'S EQUITY** #### **FOR THE YEARS ENDED DECEMBER 31, 2023 AND 2022** | | 2023 | 2022 | | |-------------------|-------------|---------|--| | Member's Equity - | \$ | \$ | | | January 1 | 335,708 | 262,951 | | | Net Income | ,682
141 | 72,757 | | | Member's Equity- | \$ | \$ | | | December 31 | 477 390 | 335,708 | | {9}------------------------------------------------ #### **UOB GLOBAL EQUITY SALES LLC (A Limited Liability Company) STATEMENTS OF CASH FLOWS** #### **FOR THE YEARS ENDED DECEMBER 31, 2023 AND 2022** | | 2023 | 2022 | |-------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------------------------------|----------------------------| | CASH FLOWS FROM OPERATING ACTIVITIES
Net income
Adjustments to reconcile net income to net cash | \$
141,682 | \$
72,757 | | provided by (used) in operating activities:
Changes in assets and liabilities:
Prepaid expenses
Receivables from customer
Accrued expenses
Due to Parent | 144
151,880
4,044
35,421 | 150
,032)
(81
740 | | Net Cash Provided By (Used) In Operating Activities | 333,171 | (7,385) | | Beginning of Year
Cash - | 177,874 | 185,259 | | End of Year
Cash - | \$
511 045 | \$
177 874 | {10}------------------------------------------------ #### **NOTES TO FINANCIAL STATEMENTS** #### **DECEMBER 31, 2023 AND 2022** #### **1. ORGANIZATION** UOB Global Equity Sales LLC (the "Company") was established as a limited liability company ("LLC") in the state of New York on November 22, 2002. The Company commenced operations in September 2003, when the Company became a broker-dealer in securities registered with the Securities and Exchange Commission ("SEC") and a registered member of the Financial Industry Regulatory Authority ("FINRA"). The Company is a wholly-owned subsidiary of UOB Global Capital LLC (the "Parent"). The Company's activities have been limited to acting as a placement agent for alternative investments, including, but not limited to, hedge funds, private equity funds, etc. The Company does not carry security accounts for customers or perform custodial functions relating to customer securities. The Company's principal business office is located in New York City. Since the Company is an LLC, the member is not liable for the debts, obligations or liabilities of the Company, whether arising in tort, contract or otherwise, unless the member has signed a specific guarantee. #### **2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES** #### **Basis of Accounting** The accompanying financial statements have been prepared on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP"). Income is recognized as earned and expenses are recognized as incurred. #### **Use of Estimates** The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. #### **Cash** Cash consists primarily of cash on deposit and money market funds that are readily convertible into cash and purchased with an original maturity of three months or less. {11}------------------------------------------------ #### **NOTES TO FINANCIAL STATEMENTS** #### **DECEMBER 31, 2023 AND 2022** #### **2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont'd)** #### **Revenue Recognition** The Company recognizes revenue in accordance with Financial Accounting Standards Board ("FASB") Accounting Standards Update No. 2014-09 *Revenue from Contracts with Customers,* and all related amendments. The revenue recognition guidance requires that an entity recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance requires an entity to follow a five-step model to (a) identify the contract( s) with a customer, (b) identify the performance obligations in the contract, ( c) determine the transaction price, ( d) allocate the transaction price to the performance obligations in the contract, and ( e) recognize revenue when ( or as) the entity satisfies a performance obligation. In determining the transaction price, an entity may include variable consideration only to the extent that it is probable that a significant reversal in the amount of cumulative revenue recognized would not occur when the uncertainty associated with the variable consideration is resolved. Significant judgment is required to determine whether performance obligations are satisfied at a point in time over time; how to allocate transaction prices where multiple performance obligations are identified; when to recognize revenue based on the appropriate measure of the Company's progress under the contract; and whether constraints on variable consideration should be applied due to uncertain future events. The Company recognizes revenue once there is evidence of an arrangement, performance obligation is identified, the fee revenue is determined and the performance obligation has been satisfied at a point in time. The Company enters into fee referral agreements with asset/investment management companies ("Investment Advisors"), whereby the Company earns a referral and/ or incentive fee for its role in referring investors to the Investment Advisors. Fees are paid on a quarterly and/ or annual basis and are determined by the amount of the investment multiplied by the agreed-upon fee-sharing percentage. #### **Accounts Receivable** Accounts receivable are stated at the amount the Company expects to collect. The determination of the amount of uncollectible accounts is based on the amount of credit extended, estimated creditworthiness of the counterparty assumed by {12}------------------------------------------------ #### **NOTES TO FINANCIAL STATEMENTS** #### **DECEMBER 31, 2023 AND 2022** #### **2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont'd)** #### **Accounts Receivable (cont'd)** management, and the length of time a receivable has been outstanding. Other factors are considered by management on a case-by-case basis. Based on management's assessment, the Company provides for estimated uncollectible amounts through a charge to earnings and a credit to a valuation allowance. Balances that remain outstanding after the Company has made reasonable collection efforts are written off through a charge to the valuation allowance and a credit to accounts receivable. For financial assets measured at amortized cost (e.g., cash and cash equivalents and receivables from customers), the Company has concluded that there are de minimis expected credit losses based on the nature and contractual life or expected life of the financial assets and immaterial historic and expected losses based on the nature and contractual life or expected life of the financial assets. No allowance for credit losses was recorded as of December 3-1 , 2023 and 2022. Accounts receivable at January 1, 2022 was \$112,312. #### **Income Taxes** As a single-member LLC, the Company is considered a disregarded entity for Federal and New York State income tax purposes. A provision for the New York City Unincorporated Business Tax of \$3,614 has been made for the year ended December 31 , 2023. The Company recognizes and measures its unrecognized tax benefits in accordance with FASB Accounting Standards Codification ("ASC") 740, *Income Taxes.* Under that guidance, management assesses the likelihood that tax positions will be sustained upon examination based on the facts, circumstances and information available at the end of each period, including the technical merits of those positions. The measurement of unrecognized tax benefits is adjusted when new information is available or when an event occurs that requires a change. The Company is subject to examinations by taxing authorities. {13}------------------------------------------------ #### **NOTES TO FINANCIAL STATEMENTS** #### **DECEMBER 31, 2023 AND 2022** #### **2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont'd)** #### **Subsequent Events** In accordance with F ASB ASC 855, *Subsequent Events,* the Company has evaluated subsequent events through February 22, 2024, the date on which these financial statements were issued. There were no material subsequent events that required recognition or additional disclosure in these financial statements. #### **3. MANAGEMENT AND INCENTIVE FEES** Management and incentive fees are calculated by the Investment Advisors according to the advisory agreement they have with each investor. Management fees are calculated based upon an agreed-upon rate and the contributed assets or the value of the assets under management. Incentive fees are calculated at an agreed-upon rate and are dependent on the performance of the investment under management. The Company receives a portion of the management and/ or incentive fees for its activities as a placement agent according to its agreement(s) with the Investment Advisors. Generally, such fees are earned and collected quarterly in arrears. #### **4. RELATED PARTIES** Pursuant to a cost-sharing agreement (the "Agreement") between the Parent and the Company, the Parent acts as the common paymaster for certain compensation and overhead costs incurred on behalf of the Company. In addition, pursuant to the Agreement, the Parent acts as the common paymaster for certain non-compensation related expenses incurred by itself and the Company. Included in the aforementioned costs are amounts paid by the Company and the Parent for direct costs as well as costs that are subject to an allocation (the "Allocated Costs") between the Company and the Parent. Allocated Costs generally consist of salaries and related benefits paid for shared personnel, as well as other overhead costs. The Agreement provides that allocations of shared employee compensation costs between the Company and the Parent are based on the estimated amount of time spent by employees on behalf of the Company and the Parent. In addition, the Agreement provides that the allocation of other overhead costs is based primarily on the estimated usage of such services by the Company and the Parent. Total Allocated Costs charged to the Company by the Parent are included in the accompanying statements of operations and amounted to \$173,814 for each of the years ended December 31 , 2023 and 2022. The amount due to the Parent is \$49,905 and \$14,484 as of December 31 , 2023 and 2022, respectively {14}------------------------------------------------ #### **NOTES TO FINANCIAL STATEMENTS** #### **DECEMBER 31, 2023 AND 2022** #### **5. NET CAPITAL AND RESERVE REQUIREMENTS** The Company is subject to the SEC's Uniform Net Capital Rule ("SEC Rule 15c3-l "), which requires the maintenance of minimum net capital and that the ratio of aggregate indebtedness to net capital, both as defined, not exceed 15 to 1. Net capital and aggregate indebtedness change from day to day. At December 31 , 2023 and 2022, the Company's regulatory net capital was \$426,700 and \$141 ,321 , respectively, which exceeded the Company's minimum net capital requirement of \$5,057 and \$5,000 at December 31 , 2023 and 2022. respectively. At December 31 , 2023 and 2022, aggregate indebtedness was \$75,849 and \$36,384, respectively. At December 31 , 2023 and 2022, the Company's ratio of aggregate indebtedness to net capital was 0.178 to 1 and 0.258 to 1, respectively. #### **6. CONCENTRATION OF CREDIT RISK** The Company places its cash, which may at times be in excess of Federal Deposit Insurance Corporation limits, with high credit quality financial institutions and attempts to limit the amount of credit exposure with any one institution. Accounts receivable are from Investment Advisors for which the Company reviews their backgrounds and credit history before entering into agreements. Allowances for possible losses are based on factors surrounding the credit risk of the Investment Advisor, historical trends and other information. As of and for the year ended December 31 , 2023, two customers accounted for 100% and 96.30% of the Company's accounts receivable and revenue, respectively. As of and for the year ended December 31 , 2022, two customers accounted for 95 .73% and 95.47% of the Company's accounts receivable and revenue, respectively. The Company's accounts receivable represent amounts due from the customers. {15}------------------------------------------------ #### SUPPLEMENTAL INFORMATION {16}------------------------------------------------ #### **COMPUTATION OF NET CAPITAL PURSUANT TO RULE 15c3-1 OF THE SECURITIES AND EXCHANGE COMMISSION** #### **DECEMBER 31, 2023** | | 2023 | |-----------------------------------------------------------------------------------------------|-------------------------------| | NET CAPITAL
Member's equity
Non-allowable assets | \$
477,390
(
42,194) | | Net Capital before haircut | 435,196 | | Haircut | (8,496) | | Net Capital per Rule 15c3-1 | \$
426 700 | | Minimum net capital requirement -
greater of 6-2/3 of
aggregate indebtedness or \$5,000 | \$
5 057 | | Excess Net Caoital | \$
421,643 | | Aggregate Indebtedness
Accrued exoenses and due to Parent | \$
75 849 | | Ratio of Aggregate Indebtedness to
Net Capital | 0.178tol | **There are no material differences between the computation of net capital presented above and the computations of net capital** in **the Company's unaudited Form X-17 A-5, Part** II **A filing as of December 31, 2023, as fded on January 25, 2024.** See report of independent registered public accounting firm. {17}------------------------------------------------ #### **COMPUTATION FOR DETERMINATION OF RESERVE REQUIREMENTS UNDER RULE 15c3-3 AND INFORMATION FOR POSSESSION OR CONTROL REQUIREMENTS UNDER RULE 15c3-3** #### **DECEMBER 31, 2023** The Company is filing an exemption because the Company's other business activities contemplated by Footnote 74 of the SEC Release No. 34-70073 adopting amendments to 17 C.F.R. § 240.17a-5 are limited to acting as a placement agent for alternative investments, and the Company (a) did not directly or indirectly receive, hold or otherwise owe funds or securities for or to customers; (b) did not carry accounts of or for customers; and ( c) did not carry P AB accounts ( as defined in Rule 15c3-3) throughout the fiscal year ended December 31 , 2023 without exception. See report of independent registered public accounting firm. {18}------------------------------------------------ ![](_page_18_Picture_0.jpeg) **Citrin Cooperman & Company, LLP** Certified Public Accountants 709 Westchester Avenue White Plains, NY 10604 **T** 914.949.2990 **F** 914.949.2910 citrincooperman.com #### **REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM** To the Member UOB Global Equity Sales LLC We have reviewed management's statements, included in the accompanying Exemption Report pursuant to SEC Rule 17a-5, in which **(1)** UOB Global Equity Sales LLC did not claim an exemption under paragraph (k) of 17 C.F.R. §240.15c3-3, and (2) UOB Global Equity Sales LLC is filing this Exemption Report relying on Footnote 74 of the SEC Release No. 34-70073 adopting amendments to 17 C.F.R. § 240.1 7a-5 because UOB Global Equity Sales LLC limits its business activities to acting as a placement agent for alternative investments. In addition, UOB Global Equity Sales LLC did not directly or indirectly receive, hold, or otherwise owe funds or securities for or to customers; did not carry accounts of or for customers; and did not carry PAB accounts (as defined in Rule 15c3-3) throughout the most recent fiscal year without exception. UOB Global Equity Sales LLC's management 1s responsible for compliance with the exemption provisions and its statements. Our review was conducted in accordance with the standards of the Public Company Accounting Oversight Board (United States) and, accordingly, included inquiries and other required procedures to obtain evidence about UOB Global Equity Sales LLC's compliance with the exemption provisions. A review is substantially less in scope than an examination, the objective of which is the expression of an opinion on management's statements. Accordingly, we do not express such an opinion. Based on our review, we are not aware of any material modifications that should be made to management's statements referred to above for them to be fairly stated, in all material respects, based upon UOB Global Equity Sales LLC's business activities contemplated by Footnote 74 of the SEC Release No. 34-70073 adopting amendments to 17 C.F.R. § 240.1 7a-5, and related SEC Staff Frequently Asked Questions. White Plains, New York February 22, 2024 {19}------------------------------------------------ ![](_page_19_Picture_0.jpeg) **UOB Global Equity Sales LLC** (AMemberoftheUnitedOverseasBankGroup) 592 FIFTH AVENUE, NEW YORK, N.Y. 10036, USA Phone (212) 398-6633 Fax (212) 398-4030 #### Exemption Report UOB Global Equity Sales LLC (the "Company") is a registered broker-dealer subject to Rule 17a-5 promulgated by the Securities and Exchange Commission (17 C.F.R. §240.17a-5, "Reports to be made by certain brokers and dealers"). This Exemption Report was prepared as required by 17 C.F.R. § 240.17a-5(d)(l) and (4). To the best of its knowledge and belief, the Company states the following: The Company is filing this Exemption Report because the Company's other business activities contemplated by Footnote 74 of the SEC Release No. 34-70073 adopting amendments to 17 C.F.R. § 240.17a-5 are limited to acting as a placement agent for alternative investments, and the Company: (a) did not directly or indirectly receive, hold or otherwise owe funds or securities for or to customers, (b) did not carry accounts of or for customers; and ( c) did not carry P AB accounts ( as defined in Rule 15 c3-3) throughout the most recent fiscal year without exception. UOB Global Equity Sales LLC I, Howard Berkenfeld, swear ( or affirm) to my best knowledge and belief, this Exemption report is true and correct. By: Howard Berkenfeld Title: Chief Compliance Officer Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.