# RENAISSANCE INSTITUTIONAL MANAGEMENT LLC X-17A-5 (2020-02-18) — Broker-dealer annual report
- Company: RENAISSANCE INSTITUTIONAL MANAGEMENT LLC
- Form: X-17A-5
- Filed: 2020-02-18
- Period: 2019-12-31
- Accession: 0001330370-20-000001
- CIK: 1330370
- File #: 8-66971
- Material weakness: No
- Auditor: PricewaterhouseCoopers LLP
- Auditor location: New York, NY
- Contact: Mark Silber
- Phone: 212-829-4490
- Signed by: Mark Silber (President and Chief Financial Officer)
Original filing: https://www.sec.gov/Archives/edgar/data/1330370/000133037020000001/8-66971-RIM.Public.AFS.2019.pdf
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Statement of Financial Condition Year Ended December 31, 2019
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| Contents | | |
|---------------------------------------------------------|----|--|
| Facing Page to Form X-17A-5 | 2A | |
| Affirmation of Officer | 2B | |
| Report of Independent Registered Public Accounting Firm | 3 | |
| Statement of Financial Condition | ব | |
| Notes to Statement of Financial Condition | 5 | |
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UNITEDSTATES SECURITIES ANDEXCHANGE COMMISSION Washington, D.C. 20549
OMB APPROVAL 3235-0123 OMB Number: Expires: August 31, 2020 Estimated average burden hours per response.. . . . . . . 12.00
8-66971
SEC FILE NUMBER
# ANNUAL AUDITED REPORT FORM X-17A-5 PART III
| FACING PAGE | |
|-------------|--|
Information Required of Brokers and Dealers Pursuant to Section 17 of the Securities Exchange Act of 1934 and Rule 17a-5 Thereunder
| REPORT FOR THE PERIOD BEGINNING 01/01/2019 | | AND ENDING 12/31/2019 | |
|----------------------------------------------------------------------------------------|--------------------------------------------------------|-----------------------|--------------------------------|
| | MM/DD/YY | | MM/DD/YY |
| | A. REGISTRANT IDENTIFICATION | | |
| NAME OF BROKER-DEALER: Renaissance Institutional Management LLC | | | OFFICIAL USE ONLY |
| ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use P.O. Box No.) | | FIRM I.D. NO. | |
| 800 Third Avenue | | | |
| | (No. and Street) | | |
| New York | NY | | 10022 |
| (City) | (State) | | (Zip Code) |
| NAME AND TELEPHONE NUMBER OF PERSON TO CONTACT IN REGARD TO THIS REPORT
Mark Silber | | | 212-829-4490 |
| | | | (Area Code - Telephone Number) |
| | B. ACCOUNTANT IDENTIFICATION | | |
| INDEPENDENT PUBLIC ACCOUNTANT whose opinion is contained in this Report* | | | |
| PricewaterhouseCoopers LLP | | | |
| | (Name - if individual, state last, first, middle name) | | |
| 300 Madison Avenue | New York | NY | 10017 |
| (Address) | (City) | (State) | (Zip Code) |
| CHECK ONE: | | | |
| Certified Public Accountant | | | |
| Public Accountant | | | |
| Accountant not resident in United States or any of its possessions. | | | |
| | | | |
| | FOR OFFICIAL USE ONLY | | |
| | | | |
| | | | |
\*Claims for exemption from the requirement that the annual report be covered by the opinion of an independent public accountant must be supported by a statement of facts and circumstances relied on as the basis for the exemption. See Section 240.17a-5(e)(2)
> Potential 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.
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#### OATH OR AFFIRMATION
| Mark Silber | swear swear (or affirm) that, to the best of |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------|
| my knowledge and belief the accompanying financial statement and supporting schedules pertaining to the firm of
Renaissance Institutional Management LLC | |
| of December 31 | 20 2019 are true and correct. I further swear (or affirm) that |
| neither the company nor any partner, principal officer or director has any proprietary interest in any account | |
| classified solely as that of a customer, except as follows: | |
| | |
| | |
| | |
| | Signature |
| | President and Chief Financial Officer |
| | Title |
| | LARISSA MICHALOPOULOS |
| UNDOD | NOTARY PUBLIC-STATE OF NEW YORK |
| Notary Public | No. 01 MI 6272447 |
| This report ** contains (check all applicable boxes): | Qualified In New York County |
| V (a) Facing Page. | My Commission Expires 11-19-2020 |
| (b) Statement of Financial Condition. | |
| (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) Statement of Changes in Financial Condition. | |
| (e) Statement of Changes in Stockholders' Equity or Partners' or Sole Proprietors' Capital. | |
| (f) Statement of Changes in Liabilities Subordinated to Claims of Creditors. | |
| (g) Computation of Net Capital. | |
| (h) Computation for Determination of Reserve Requirements Pursuant to Rule 15c3-3. | |
| (i) Information Relating to the Possession or Control Requirements Under Rule 15c3-3. | |
| | (i) A Reconciliation, including appropriate explanation of Net Capital Under Rule 15c3-1 and the |
| Computation for Determination of the Reserve Requirements Under Exhibit A of Rule 15c3-3. | |
| consolidation. | (k) A Reconciliation between the audited and unaudited Statements of Financial Condition with respect to mcthods of |
| (I) An Oath or Affirmation. | |
| (m) A copy of the SIPC Supplemental Report. | |
| | (n) A report describing any material inadequacies found to exist or found to have existed since the date of the previous audit. |
| | |
| ** For conditions of confidential treatment of certain portions of this filing, see section 240.17a-5(e)(3). | |
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#### **Report of Independent Registered Public Accounting Firm**
To the Member of Renaissance Institutional Management LLC
#### *Opinion on the Financial Statement Statement of Financial Condition*
We have audited the accompanying statement of financial condition of Renaissance Institutional Management LLC as of December 31, 2019, including the related notes (collectively referred to as the In our opinion, the financial statement presents fairly, in all material respects, the financial position of the Company as of December 31, 2019 in conformity with accounting principles generally accepted in the United States of America.
#### *Basis for Opinion*
The financial statement . 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.
February 18, 2020
We have served as the Company's auditor since 2015.
*PricewaterhouseCoopers LLP, PricewaterhouseCoopers Center, 300 Madison Avenue, New York, NY 10017*
*T: (646) 471 3000, F: (813) 286 6000, www.pwc.com/us*
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## Statement of Financial Condition
| December 31, 2019 | |
|------------------------------------------------------------|----------------|
| Assets: | |
| Cash and cash equivalents | ഗ
1,559,558 |
| Prepaid expenses | 87,901 |
| Fixed assets, net of accumulated depreciation of \$333,058 | 229,066 |
| Total Assets | \$ 1,876,525 |
| Liabilities and Member's Equity | |
| Total Liabilities | S |
| Commitments and contingencies (see note 6) | |
| Member's Equity | 1,876,525 |
| Total Liabilities and Member's Equity | \$ 1,876,525 |
The accompanying notes are an integral part of the statement of financial condition.
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## Notes to Statement of Financial Condition
### 1. Organization and Business
Renaissance Institutional Management LLC ("RM" or the "Company") was formed under the laws of the State of Delaware on March 18, 2005, and commenced operations on November 1, 2005. RM is registered as a broker-dealer with the Securities and Exchange Commission ("SEC") and is a member of the Financial Industry Regulatory Authority ("FINRA"). The Company operates pursuant to the exemption in SEC Rule 15c3-3(k)(2)(i).
RIM engages in the solicitation and referral of investors to Renaissance Technologies LLC ("Renaissance" or the "Member"), an SEC registered investment adviser, on behalf of various private investment funds managed by the Member. RIM is a wholly owned subsidiary of the Member.
### 2. Significant Accounting Policies
#### Basis of Presentation
The statement of financial condition is presented in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP").
All values in the statement of financial condition are stated in U.S. dollars.
#### Cash and Cash Equivalents
Cash and cash equivalents consist of cash and highly liquid investments with original or remaining maturities of three months or less at the time of purchase. The Company maintains cash and cash equivalent balances at one global financial institution. This includes amounts invested in shortterm money market instruments. At times, deposits at this institution may exceed federally insured amounts. The Company has not experienced any losses on its cash equivalents during the year ended December 31, 2019 and believes that holding such equivalents does not expose the Company to significant credit risk.
#### Use of Estimates
The preparation of the statement of financial condition is in conformity with U.S. GAAP 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 statement of financial condition. Actual results could materially differ from these estimates.
### 3. Related Party Transactions
Net receivables from the Member were settled through a deemed distribution to Member of \$1,127,234 as of December 31, 2019. This deemed distribution and a contribution from Member of \$339,065 are reflected within the Member's Equity balance on the statement of financial condition. In the future any net receivables from the Member will be similarly settled on an annual basis.
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## Notes to Statement of Financial Condition
#### 4. Fixed Assets, Net
Fixed assets, net consists of the following:
| | Estimated | |
|-----------------------------------------------------|--------------|------------|
| December 31, 2019 | Useful Lives | Amount |
| Equipment | 5 years | S 486.933 |
| Software | 3 years | 75,191 |
| | | 562,124 |
| Less: Accumulated depreciation | | (333,058) |
| Total fixed assets, net of accumulated depreciation | | \$ 229,066 |
Any maintenance costs that materially increase the useful life of the asset are capitalized to the asset's cost basis. Management has reviewed fixed assets for impairment, no such losses were recorded for the year ended December 31, 2019.
### 5. Regulatory Net Capital Requirements
As a registered broker-dealer, RM is subject to the provisions of the SEC's Uniform Net Capital Rule (Rule 15c3-1), which requires the maintenance of minimum regulatory net capital and requires that the ratio of aggregate indebtedness to regulatory net capital, both as defined in Rule 15c3-1, shall not exceed 15 to 1. Regulatory net capital and aggregate indebtedness may fluctuate on a daily basis.
As of December 31, 2019, the Company had regulatory net capital of \$1,559,558 and a regulatory net capital requirement of \$5,000. As the Company had no liabilities as of December 31, 2019, the Company's ratio of aggregate indebtedness to regulatory net capital was 0 to 1 at December 31, 2019.
#### 6. Commitments and contingencies
Management has policies and procedures in place to assess and review for commitments and contingent liabilities. Throughout the year and as of December 31, 2019 there were no such commitments or contingent liabilities.
### 7. Subsequent Events
The Company evaluated all events that occurred for January 1, 2020 through February 18, 2020, the date the statement of financial condition was available to be issued. During the period, the Company did not have any material recognizable subsequent events that would require disclosure in the Company's statement of financial condition.
Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.