# EUROCONSULT CAPITAL, LLC X-17A-5 (2020-03-02) — Broker-dealer annual report

- Company: EUROCONSULT CAPITAL, LLC
- Form: X-17A-5
- Filed: 2020-03-02
- Period: 2019-12-31
- Accession: 0001390422-20-000001
- CIK: 1390422
- File #: 8-67554
- Material weakness: No
- Auditor: McBee & Co., P.C.
- Auditor location: Dallas, TX
- Contact: Kristy Johnson
- Phone: 281-367-0380
- Website: mcbeeco.com
- Signed by: Evan Yellin (Designated Principal)

Original filing: https://www.sec.gov/Archives/edgar/data/1390422/000139042220000001/977audit.pdf

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UNITED STATES SECURITIESANDEXCHANGECOMMISSION Washington, D.C. 20549

**ANNUAL AUDITED REPORT FORM X·17A·5 PARTlll** 

|                          | OMB APPROVAL             |
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| OMB Number:              | 3235-0123                |
| Expires:                 | August 31, 2020          |
| Estimated average burden |                          |
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| SEC FILE NUMBER |
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| e-67554         |

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                                             |                                                       | 12/31/2019<br>AND ENDING ~~~~~~~~~~- |                                |
|----------------------------------------------------------------------------------------|-------------------------------------------------------|--------------------------------------|--------------------------------|
|                                                                                        | MM/DD/YY                                              |                                      | MMIDD/YY                       |
|                                                                                        | A. REGISTRANT IDENTIFICATION                          |                                      |                                |
| NAME oF BROKER-DEALER: EuroConsult Capital, LLC                                        |                                                       | OFFICIAL USE ONLY                    |                                |
| ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use P.O. Box No.)                      |                                                       |                                      | FIRM l.D. NO.                  |
| 767 Third Avenue, 19th Floor                                                           |                                                       |                                      |                                |
|                                                                                        | (No. and Street)                                      |                                      |                                |
| New York                                                                               | New York                                              |                                      | 10017                          |
| (City)                                                                                 | (State)                                               |                                      | (Zip Code)                     |
| NAME AND TELEPHONE NUMBER OF PERSON TO CONTACT IN REGARD TO THIS REPORT<br>Evan Yellin |                                                       |                                      | (212) 972-4300                 |
|                                                                                        |                                                       |                                      | (Area Code - Telephone Number) |
|                                                                                        | B. ACCOUNTANT IDENTIFICATION                          |                                      |                                |
| INDEPENDENT PUBLIC ACCOUNTANT whose opinion is contained in this Report*               |                                                       |                                      |                                |
| McBee & Co., P.C.                                                                      |                                                       |                                      |                                |
|                                                                                        | (Name - if individual. s/a/e /as1,jirs1, middle name) |                                      |                                |
| 718 Paulus Avenue                                                                      | Dallas                                                | Texas                                | 75214                          |
| (Address)                                                                              | (City)                                                | (State)                              | (Zip Code)                     |
| CHECK ONE:                                                                             |                                                       |                                      |                                |
| I./ I<br>Certified Public Accountant                                                   |                                                       |                                      |                                |
| OPublic Accountant                                                                     |                                                       |                                      |                                |
| OAccountant not resident in Un~ted 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 I nformatlon contained In this form are not required to respond unless the form displays a currently valid OMB control number.

SEC 1410 (06-02)

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#### **OATH OR AFFIRMATION**

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*\*\*For conditions of confidential treatment of certain portions of this filing, see section 240.1 7 a-5(e)(3).* 

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#### **TABLE OF CONTENTS**

| December 31, 2019                                                                                                                       |      |
|-----------------------------------------------------------------------------------------------------------------------------------------|------|
|                                                                                                                                         | PAGE |
| REPORT OF INDEPENDENT REGISTERED PUBLIC<br>ACCOUNTING FIRM ON THE FINANCIAL STATEMENTS                                                  | 1    |
| FINANCIAL STATEMENTS                                                                                                                    |      |
| Statement of Financial Condition                                                                                                        | 2    |
| Statement of Operations                                                                                                                 | 3    |
| Statement of Changes in Member's Equity                                                                                                 | 4    |
| Statement of Cash Flows                                                                                                                 | 5    |
| Notes to Financial Statements                                                                                                           | 6-10 |
| SUPPLEMENTAL INFORMATION                                                                                                                |      |
| Schedule I -<br>Computation of Net Capital Pursuant to<br>Rule 15c3-1 of the Securities and Exchange Commission                         | 11   |
| Computation for Determination of ReseNe<br>Schedule II -<br>Requirements Under Rule 15c3-3 of the Securities<br>and Exchange Commission | 13   |
| ADDITIONAL REPORTS AND RELATED INFORMATION                                                                                              |      |
| Report of Independent Registered Public Accounting Firm on<br>the Exemption from SEC Rule 15c3-3 Report                                 | 14   |
| EuroConsult Capital LLC's Exemption Report                                                                                              | 15   |

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#### REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

#### To the Managing Director and Member of EuroConsult Capital, LLC

#### Opinion on the Financial Statements

We have audited the accompanying statement of financial condition of EuroConsult Capital, LLC as of December 31, 2019, the related statements of operations, changes in member's equity, and cash flows for the year 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 EuroConsult Capital, LLC as of December 31, 2019, and the results of its operations and its cash flows for the year 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 EuroConsult Capital, LLC's management. Our responsibility is to express an opinion on EuroConsult Capital, LLC's financial statements 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 EuroConsult Capital, 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 statements are 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 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 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.

#### Auditor's Report on Supplemental Information

The supplemental information contained in Schedule I, Computation of Net Capital Under Rule 15c3-1 of the Securities and Exchange Commission and Schedule 11 , Computation for Determination of Reserve Requirements Under Rule 15c3-3 of the Securities and Exchange Commission has been subjected to audit procedures performed in conjunction with the audit of EuroConsult Capital, LLC's financial statements. The supplemental information is the responsibility of EuroConsult Capital, 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. §240.17a-5. In our opinion, the supplemental information contained in Schedule I, Computation of Net Capital Under Rule 15c3-1 of the Securities and Exchange Commission, and Schedule II, Computation for Determination of Reserve Requirements Under Rule 15c3-3 of the Securities and Exchange Commission is fairly stated, in all material respects, in relation to the financial statements as a whole.

McBee & Co., PC We have served as EuroConsult Capital, LLC's auditor since 2014. Dallas, Texas February 14, 2020

718 Paulus Avenue • Dallas, Texas 75214 • (ph) 214.823.3500 • www.mcbeeco.com Dallas I Keller/ Southlake

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#### STATEMENT OF FINANCIAL CONDITION

| For the Year Ended December 31, 2019  |    |        |
|---------------------------------------|----|--------|
|                                       |    |        |
| ASSETS                                |    |        |
| Cash and Cash Equivalents             | \$ | 31,084 |
| Prepaid Expenses                      |    | 5,734  |
| TOTAL ASSETS                          | \$ | 36,818 |
|                                       |    |        |
| LIABILITIES AND MEMBER'S EQUITY       |    |        |
| Accounts Payable:                     |    |        |
| Trade                                 |    | 4,869  |
| TOT AL LIABILITIES                    |    | 4,869  |
|                                       |    |        |
| MEMBER'S EQUITY                       |    | 31,949 |
| TOTAL LIABILITIES AND MEMBER'S EQUITY | \$ | 36,818 |
|                                       |    |        |

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### **STATEMENT OF OPERATIONS**

| For the Year Ended December 31, 2019    |                |                 |
|-----------------------------------------|----------------|-----------------|
|                                         |                |                 |
| REVENUE                                 |                |                 |
| Commissions Income                      |                | \$              |
|                                         | TOTAL REVENUE  |                 |
|                                         |                |                 |
| EXPENSES                                |                |                 |
| Administrative Management Fees (Note 2) |                | \$<br>40,374    |
| Professional Fees                       |                | 41,537          |
| General and Administrative              |                | 35,455          |
|                                         | TOTAL EXPENSES | 117,366         |
|                                         |                |                 |
| NET LOSS                                |                | \$<br>(117,366) |
|                                         |                |                 |

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### STATEMENT OF CHANGES IN MEMBER'S EQUITY

| For the Year Ended December 31, 2019 |              |
|--------------------------------------|--------------|
| MEMBER'S EQUITY, BEGINNING OF YEAR   | \$<br>25,576 |
| Capital Contributions                | 123,738      |
| Net Loss                             | (117,366)    |
| MEMBER'S EQUITY, END OF YEAR         | \$<br>31,948 |

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## STATEMENT OF CASH FLOWS

| For the Year Ended December 31, 2019 |
|--------------------------------------|
|--------------------------------------|

| Cash Flows from Operating Activities                                                                                                                                      |                                         |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------------------------------------|
| Net Loss<br>Adjustments to Reconcile Net Loss to Net Cash<br>Provided by (Used by) Operating Activities:                                                                  | \$<br>(117,366)                         |
| Non-cash Contributions of Administrative Management Fees                                                                                                                  | 43,738                                  |
| Change in operating assets and liabilities:<br>Decrease in prepaid expenses<br>Decrease in accounts payable<br>Total adjustments<br>Net Cash Used by Operating Activities | 2,395<br>(3,992)<br>42, 141<br>(75,225) |
| Financing Activities                                                                                                                                                      |                                         |
| Member's contribution                                                                                                                                                     | 80,000                                  |
| Net Cash Provided by Financing Activities                                                                                                                                 | 80,000                                  |
| Net Increase in Cash and Cash Equivalents                                                                                                                                 | 4,775                                   |
| Beginning of Period                                                                                                                                                       | 26,309                                  |
| End of Period                                                                                                                                                             | \$<br>31,084                            |
| Supplemental Cash Flow Information                                                                                                                                        |                                         |
| Non-cash Activity:                                                                                                                                                        |                                         |
| lntercompany Payables Converted<br>to Member Contributions                                                                                                                | \$<br>43,738                            |

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## **NOTES TO FINANCIAL STATEMENTS**

#### **1. Nature of business and summary of significant accounting policies**

#### Nature of Business

EuroConsult Capital LLC is a New York limited li ability company, which was formed in November 2006. The Company, which is a wholly-owned subsidiary of EC Mergers & Acquisitions, a EuroConsult Company, is a broker-dealer registered with **the SEC and FINRA. The Company's** principal activity is to advise and consult with institutional investors and commercial entities concerning mergers and acquisitions.

The Company operates under the provisions of Paragraph (k)(2)(i) of Rule 15c3-3 of the SEC and, accordingly, is exempt from the remaining provisions of that Ru le. Essentially, the requirements of Paragraph (k)(2)(i) provide that the Company will not hold customer funds or safe keep customer securities. The Company does not hold customer funds or securities.

#### Basis of Presentation

The financial statements have been prepared in conformity with accounting **principles generally accepted in the United States of America ("GAAP").** 

The Company has evaluated events that have occurred subsequent to December 31, 2019, and through February 14, 2020, the date of the report was available to be issued. There have been no material subsequent events that occurred during such period that would require disclosure in this report or would be required to be recognized in the financial statements as of December 31, 2019.

#### Use of Estimates

The preparation of financial statements in conformity with United States generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of the assets and liabi lities and disclosu re of contingent assets and liabilities at the date of the financia l statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates .

### Revenue Recognition

The Company enters into agreements with customers to provide the services defined in each contract. Generally, the Company receives placement and success fees as compensation for services rendered . Some other services include investment advisory services for structuring investments. The recognition and measurement of revenue is based on the assessment of individual contract terms. Significantjudgment is required to determine whether perform ance obligations are

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### **NOTE 1 - Nature of business and summary of significant accounting policies (Continued)**

satisfied at a point in time or over time; how to allocate transaction prices where multiple performance obligations are identified; when to recog ni ze revenue based on the **appropriate measure of the Company's progress under the contract; whether**  revenue should be presented gross or net of certain costs; and whether constraints on vari able consideration should be applied due to uncertain future events.

The compensation structures of the placement and success fees are defined **in** the contracts and are genera lly paid to the Company for su ccessfully closing a transaction. The Company sati sfi es its perform ance obligations upon consummating the transaction defined in the contracts . These performance obligations are typically facil itating capital raises for the client or closing a defined transaction. These fees are generally variable and the estimate of variable consideration is typically constrai ned in accord ance with paragraphs 606-1 0-32 -11 through 32-13 of (ASU) No. 201 4-09 because the uncertainty associated with the variable consid eration . Specifica lly, the amount of consideration is highly **susceptible to factors outside the entity's influence can take an extended period of**  tim e, price concessions could occur and th ere is a large number and broad ra nge of possible outcomes. Revenue is recognized from the satisfaction of the performance obligation based on the amount the Company has a right to invoice and th at amount directly corresponds with the valu e to the customer of the performance completed to date.

#### Fair Value of Financial Instruments

Cash, prepaid expenses and accounts payable are short-term in nature and accordingly are reported in the statement of fi nancial condition at fair value or carrying amounts that approximate fair value.

#### Income Taxes

The Company is treated as a fl ow-through entity for income tax purposes. As a result. the net taxable income of the Company and any related tax credits, for federal income tax purposes, are deemed to pass to the Parent and are included in the **Parent's members' personal tax returns even though such net taxable income or tax**  credits may not actually have been distri buted. Accordingly, no tax provision has been made in the financial statements since the income tax is a personal obligation of the individual members of the parent. The Company is su bject to state income tax. The Company has not recorded provisions for estimated New York margin taxes for the year ended December 31 , 2019, as they are not significant.

The Company recog ni zes and measures any unrecognized tax benefits in accordance with Financial Accounting Standards Board (FASB) Accounti ng

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## **NOTE 1 - Nature of business and summary of significant accounting policies (Continued)**

Standards Codification (ASC) **740, "Income Taxes" . Under that guidance the**  Company assesses the likelihood, based on their technical merit. that tax positions will be sustained upon examination based on the facts, circumstances and information available at the end of each period. The measurement of unrecognized tax benefits is adjusted when new information is available, or when an event occurs that requires a change. As of December 31, 2019, the Company believes there are no uncertain tax positions that qualify for either recognition or disclosure in the financial statements.

### Statement of Cash Flows

For purposes of the Statement of Cash Flows, the Company has defined cash equivalents as highly liquid investments. with original maturities of less than three months. which are not held for sale in the ordinary course of business.

### **2. Related party transactions**

#### Service Agreement

**Pursuant to service agreements, the Company's Parent provides various services**  and other operating assistance to the Company. These include professional services, physical premises, utilities, the use of fixed assets. travel , insurance, subscriptions, taxes, personnel and other general and administrative services. The total amount incurred and paid by the Company under these agreements approximated \$40,000 for the year ended December 31, 2019. These expenses are reflected in administrative management fees in the accompanying statement of operations

The Company and its Parent are under common control and the existence of that control may create a fi nancial position and operating results significantly different than if the companies were autonomous .

### **3. Net capital requirement**

The Company, as a member of FINRA. is subject to the Securities and Exchange Commission Uniform Net Capital Rule 15c3-1. This Rule requires the maintenance of minimum net capita l and that the ratio of aggregate indebtedness to net capital , both as defined, shall not exceed 15 to 1 and that equity capital may not be withdrawn or cash dividends paid if the resulting net capital ratio would exceed 10 to 1. At December 31, 2019, the Company's net capital was \$26,214, which was \$21,214 **in excess of its minimum requirement of \$5,000. The Company's net capital**  ratio was 0.19 to 1 for December 31, 2019.

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Capital contributions and distributions to the members can be made under a capital **policy approved by the Company's** member. Periodic contributions and/or distributions approved by the member may be made in order to enable the member to effectively manage the Company.

### **4. SIPC Supplemental Reporting**

The Company is exempt from the filing of the SIPC Supplemental Report as net operating revenues are less than \$500,000.

#### **5. Liabilities Subordinated to Claims of General Creditors**

During the year ended December 31, 2019, there were no subordinated li abilities to the claims of general creditors. Accordingly, a statement of changes in liabilities subordinated to claims of general cred itors has not been included in these financial statem ents.

#### **6. Concentration of risks**

The Company is engaged in brokerage activities in which it engages in investment activities with limited partnerships and limited liability companies throughout the United States. In the event the counterparties do not fulfill their obligations, the Company may be exposed to risk. The risk of default depends on the creditworthiness of the counterparty or issuer **of the instrument. It is the company's**  policy to review, as necessary, the credit standing of each counter-party. The **Company's financial instruments that are subject to concentrations of credit risk**  primarily consist of cash. The Company places its cash with one high credit quality institution. At times, such cash may be in excess of the FDIC insurance limits. The Company believes that it is not exposed to any significant risk related to cash

#### **7. Contingencies**

In the ordinary course of conducting its business, the Company may be su bjected to loss contingencies arising from lawsuits. Management believes that the outcome **of such matters, if any, will not have a material impact on the Company's financial**  condition or results of future operations.

### **8. Exemption from Rule 15c3-3**

The Company operates under the provisions of Paragraph (k) (2) (i) of Ru le 15c3-3 of the SEC and, accordingly, is exempt from the remaining provisions of that Rule. Essentially, the requirements of Paragraph (k)(2)(i) provide that the Company wi ll not hold customer funds or safe keep customer securities. Under these exemptive provisions, the Computation for Determination of Reserve Requirements and the

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disclosure of Information Relating to Possession or Control Requirements are not requ ired .

During the year ended December 31, 2019 and for the period from January 1, 2020 to February 14, 2020, in the opinion of management, the Company has maintained compliance with the conditions for the exemption specified in paragraph(k)(2)(i) of Rule 15c3-3.

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## **SCHEDULE I**

## **COMPUTATION OF NET CAPITAL UNDER RULE 15c3-1 OF THE SECURITIES AND EXCHANGE COMMISSION**

| For the Year Ended December 31, 2019                                                   |              |
|----------------------------------------------------------------------------------------|--------------|
|                                                                                        |              |
| COMPUTATION OF NET CAPITAL                                                             |              |
| Total Member's Equity Qualified for Net Capital                                        | \$<br>31,948 |
| Add:                                                                                   |              |
| Other deductions or allowable credits                                                  |              |
| Total capital and allowable subordinated liabilities                                   | 31,948       |
| Deductions and/or charges:                                                             |              |
| Non-allowable assets                                                                   | 5,734        |
| Other assets                                                                           |              |
| Net capital before haircuts on securities positions                                    | 26,214       |
| Haircuts on securities (computed<br>, where applicable,<br>pursuant to Rule 15c3-1 (f) |              |
| Net Capital                                                                            | \$<br>26,214 |
| AGGREGATE INDEBTEDNESS                                                                 |              |
| Items included in statement of financial condition:                                    |              |
| Accounts payable                                                                       | \$<br>4,869  |
| Total Aggregate Indebtedness                                                           | \$<br>4,869  |

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## **SCHEDULE I, CONTINUED**

## **COMPUTATION OF NET CAPITAL UNDER RULE 15c3-1 OF THE SECURITIES AND EXCHANGE COMMISSION**

### **For the Year Ended December 31, 2019**

## **COMPUTATION OF BASIC NET CAPITAL REQUIREMENT**

| Minimum Net Capital Required                                                  | \$<br>325    |
|-------------------------------------------------------------------------------|--------------|
| Minimum Dollar Net Capital Requirement of Reporting<br>Broker or Dealer       | \$<br>5,000  |
| Net Capital Requirement (greater of above two<br>minimum requirement amounts) | \$<br>5,000  |
| Excess Net Capital                                                            | \$<br>21,214 |
| Excess Net Capital at 1000%                                                   | \$<br>20,214 |
| Ratio: Aggregate Indebtedness to Net Capital                                  | 0.19         |

### **RECONCILIATION WITH COMPANY'S COMPUTATION**

No material differences existed between the audited computation of net capital pursuant to Rule 15c3-1 as of December 31, 2019 and the corresponding unaudited filing of part llA of the FOCUS Report/form X-17A-5 filed by EuroConsult Capital LLC.

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## **SCHEDULE II**

## **COMPUTATION FOR DETERMINATION OF RESERVE REQUIREMENTS UNDER RULE 15c3-3 OF THE SECURITIES AND EXCHANGE COMMISSION**

**For the Year Ended December 31, 2019** 

## **EXEMPTIVE PROVISIONS**

The Company operates under the provisions of Paragraph (k)(2)(i) of Rule 15c3-3 of the SEC and, accordingly, is exempt from the remaining provisions of that Rule. Essentially, the requirements of Paragraph (k)(2)(i) provide that the Company will not hold customer funds or safe keep customer securities. Under these exemptive provisions, the Computation for Determination of Reserve Requirements is not required .

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#### REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

#### To the Managing Director and Member of EuroConsult Capital, LLC

We have reviewed management's statements, included in the accompanying Exemption Report, in which (1) EuroConsult Capital, LLC identified the following provisions of 17 C.F.R. §1Sc3-3(k) under which EuroConsult Capital, LLC claimed an exemption from 17 C.F.R. §240.15c3-3: (2)(i) (the "exemption provisions") and (2) EuroConsult Capital, LLC stated that EuroConsult Capital, LLC met the identified exemption provisions throughout the most recent fiscal year, December 31, 2019, without exception. EuroConsult Capital, LLC's management is 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 EuroConsult Capital, LLC's compl iance 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 on the provisions set forth in paragraph (k)(2)(i) of Rule 15c3-3 under the Securities Exchange Act of 1934.

I

McBee & Co., PC Dallas, Texas February 14, 2020

718 Paulus Avenue• Dallas, Texas 75214 • (ph) 214.823.3500 • www.mcbeeco.com Dallas I Keller/ Southlake

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### **EuroConsult Capital, LLC's Exemption Report**

EuroConsult Capital, 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:

- 1. EuroConsult Capital, LLC claimed an exemption from 17 C.F.R. § 240.15c3-3 under the following provisions of 17 C.F .R. § 240.15c3-3 (k)(2)(i) for the fiscal year ended December 31, 2019.
- 2. EuroConsult Capital, LLC met the identified exemption provisions in 17 C.F.R. § 240.15c3- 3(k)(2)(i) throughout the most recent fiscal year of January 1, 2019 to December 31, 2019, without exception.

EuroConsult Capital, LLC

I, Evan S. Yellin, affirm that, to my best knowledge and belief, this Exemption Report is true and correct.

Signature P

Managing Director Title

February 14, 2020


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