# LIVINGSTON SECURITIES, LLC X-17A-5 (2022-03-14) — Broker-dealer annual report - Company: LIVINGSTON SECURITIES, LLC - Form: X-17A-5 - Filed: 2022-03-14 - Period: 2021-12-31 - Accession: 0001435253-22-000001 - CIK: 1435253 - File #: 8-67901 - Type: Broker-dealer - Material weakness: No - Auditor: Spicer Jefferies LLP - Auditor location: Denver, CO - Contact: Scott Livingston - Phone: 212 520 8481 - Email: scott@livingstonsecurities.com - Website: livingstonsecurities.com - Signed by: Scott Livingston (Chief Executive Officer) Original filing: https://www.sec.gov/Archives/edgar/data/1435253/000143525322000001/lsecpublic.pdf --- {0}------------------------------------------------ # LIVINGSTON SECURITIES LLC ## STATEMENT OF FINANCIAL CONDITION DECEMBER 31, 2021 {1}------------------------------------------------ **UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549** # **ANNUAL REPORTS FORM X-17A-5 PART** Ill | 0MB APPROVAL | | |--------------------------|--| | 0MB Number: 3235-0123 | | | Expires: Oct. 31, 2023 | | | Estimated average burden | | | hours per response: 12 | | SEC FILE NUMBER 8-67901 **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 | ---------
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12/31/21 | |------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------------------------|------------|-----------------------| | | MM/DD/VY | | MM/DD/VY | | A. REGISTRANT IDENTIFICATION | | | | | NAME oF FIRM: _L_iv_i_n_g_st_o_n_S_e_c_u_ri_ti_es_L_L_C | | | ___________
_ | | TYPE OF REGISTRANT (check all applicable boxes):
iii Broker-dealer
D Major security-based swap participant
□ Security-based swap dealer
D 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, 6th floor, 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*
Spicer Jefferies LLP | (Name - if individual, state last, first, and middle name) | | | | 4601 OTC Blvd, Suite 700 | Denver | co | 80237 | | (Address) | (City) | (State) | (Zip Code) | | October 20, 2003 | | 349 | | | T"
of Registcatloa with PCAOBl(if applicable) | | | (PCAOB Regimatloo N"mbe,, 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 OR AFFIRMATION** | I,
Scott Livingston | swear (or affirm) that, to the best of my knowledge and belief, the | |------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------| | financial report pertaining to the firm of | as of
Livingston Securities LLC | | 2~
December31 | 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.
Diane M. Venezia | | | Notary Public, State of New York
No. 02VE5063839 | | | ~-
Qualified in Nassau County 11
Expires July 29, 20!c | | | lli44ldfl: ~ | e-« | | Notary Public | | | This filing** contains (check all applicable boxes): | | | (a) Statement of financial condition.
Iii | | | Iii
(b) Notes to consolidated statement of financial condition . | | | D | (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
(d) Statement of cash flows. | | | D
(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. | | - D (g) Notes to consolidated financial statements. - D (h) Computation of net capital under 17 CFR 240.15c3-1 or 17 CFR 240.18a-1, as applicable. - □ (i) Computation of tangible net worth under 17 CFR 240.18a-2. - □ U) Computation for determination of customer reserve requirements pursuant to Exhibit A to 17 CFR 240.15c3-3. - □ (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 240.18a-4, as applicable. - D (I) Computation for Determination of PAB Requirements under Exhibit A to§ 240.15c3-3. - □ (m) Information relating to possession or control requirements for customers under 17 CFR 240.15c3-3. - □ (n) Information relating to possession or control requirements for security-based swap customers under 17 CFR 240.15c3-3(p)(2) or 17 CFR 240.18a-4, as applicable. - □ (o) Reconciliations, including appropriate explanations, of the FOCUS Report with computation of net capital or tangible net worth under 17 CFR 240.15c3-l, 17 CFR 240.18a-l, or 17 CFR 240.18a-2, as applicable, and the reserve requirements under 17 CFR 240.15c3-3 or 17 CFR 240.18a-4, as applicable, if material differences exist, or a statement that no material differences **exist.** - □ (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 240.18a-7, as applicable. - 0 (r) Compliance report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. - □ (s) Exemption report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. - Iii (t) Independent public accountant's report based on an examination of the statement of financial condition. - 0 (u) Independent public accountant's report based on an examination of the financial report or financial statements under 17 CFR 240.17a-S, 17 CFR 240.18a-7, or 17 CFR 240.17a-12, as applicable. - □ (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 240.18a-7, as applicable. - D (w) Independent public accountant's report based on a review of the exemption report under 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. - 0 (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. {3}------------------------------------------------ # LIVINGSTON SECURITIES, LLC #### DECEMBER 31, 2021 ## TABLE OF CONTENTS |
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| | '–‡•–'–Ї ‹ƒ…‹ƒŽ–ƒ–‡‡–ǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤ͵Ǧͺ | | {4}------------------------------------------------ ![](_page_4_Picture_0.jpeg) 4601 DTC BOULEVARD • SUITE 700 DENVER, COLORADO 80237 TELEPHONE: (303) 753-1959 FAX: (303) 753-0338 www.spicerjeffries.com #### **REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM** To the Member of Livingston Securities LLC #### **Opinion on the Financial Statements** We have audited the accompanying statement of financial condition of Livingston Securities LLC (the "Company") as of December 31, 2021 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 the Company as of December 31, 2021, in conformity with accounting principles generally accepted in the United States of America. #### **Basis for Opinion** This financial statement is the responsibility of the Company's management. Our responsibility is to express an opinion on the Company'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 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 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. We have served as the Company's auditor since 2008. Denver, Colorado March 5, 2022 ![](_page_4_Picture_12.jpeg) {5}------------------------------------------------ #### LIVINGSTON SECURITIES, LLC STATEMENT OF FINANCIAL CONDITION DECEMBER 31, 2021 #### ASSETS | Total liabilities | ͳͳͶǡͷ͸͸ | |--------------------------------------------|---------------------------| | ‡ˆ‡""‡†"‡˜‡—‡
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ʹͳǡͺ͵ͺ | | ƒ•Š | ̈́ͳ͸Ͳǡͳͻʹ | Ǥ {6}------------------------------------------------ #### 1. Organization and Significant Accounting Policies #### Organization and business ǡ ȋ ̶̶Ȍ ʹͳǡ ʹͲͲͺǤ Ǥ ǤǤȋDzdzȌ ͳͻ͵Ͷ ǡ Ǥ ȋ̶ ̶ȌǤ ǡ ȋ DzdzȌǤ ǡ ǡȋDzdzȌǤ ### Revenue recognition Ǥ Ǥ Ǥ Ǥ ʹͲͳͶǦͲͻǡ Dz dz ȋDz ͲdzȌ ǡ ǡ Ǥǡǡ Ǥ Ǥ Ǥ ǯ Ǥ ȋǤǤǡ Dz dzȌǤ ǡ ǡǡǤ {7}------------------------------------------------ ### LIVINGSTON SECURITIES, LLC NOTES TO THE FINANCIAL STATEMENT DECEMBER 31, 2021 ## 1. Organization and Significant Accounting Policies (con't) #### Agreement with clearing broker ͳͷ͵Ǧ͵ ȋȌȋʹȌȋȌ ͳͷ͵Ǧ͵ Ǥ Ǥǡ Ǥ ǯ ǡ ͳǦ͵ͳǦͶ ͳͻ͵Ͷǡ ȋ DzdzȌǤ ǡ ǯ Ǥ #### Cash and cash equivalents ǡ Ǥ ### Estimates Ǥ Ǥ #### Income Taxes ǯ ǯ Ǥ {8}------------------------------------------------ ### LIVINGSTON SECURITIES, LLC NOTES TO THE FINANCIAL STATEMENT DECEMBER 31, 2021 #### 1. Organization and Significant Accounting Policies (con't) ### Income Taxes (con't) Ǥ ǡ Ǥ ǤǤǡ ǤǤ Ǥ ʹͲͳͺǤ Ǥ Ǧ Ǥ ǡ ǯ ǡǡǦ ǡǤ ǡ Ǥ ͵ͳǡʹͲʹͳǤ ### Furniture and equipment Ǧ Ǥ #### Basis of Accounting and Trading and Valuation of Securities ͺʹͲ Ȃ ȋDzͺʹͲdzȌǤͺʹͲǡ ȋǤǤǡ Dz dzȌǤ ǡ Ǥ ͺʹͲ Ǥ {9}------------------------------------------------ ## 1. Organization and Significant Accounting Policies (con't) ### Basis of Accounting and Trading and Valuation of Securities(continued) Ǥ ǯ Ǥ ǣ ͳ Ȃ Ǥ ͳ Ǥ ǡ Ǥ ʹȂ ǤǤ ͵Ȃ Ǥ #### 2. Fair Value of Financial Instruments ǤǤ ǣ ͳǤ ʹǤ ͵ ̈́ͳͻʹǡͺ Ǧ DzǦ dz Ǥ ǡ ͳ Ǥ {10}------------------------------------------------ ## LIVINGSTON SECURITIES, LLC NOTES TO THE FINANCIAL STATEMENT DECEMBER 31, 2021 #### 3. Net Capital Requirements ͳͷ͵Ǧͳͳͻ͵Ͷǡ ǡ Ǥ͵ͳǡʹͲʹͳǡ̈́ͳǡͶͶ ̈́ͳͲͲǡͲͲͲǤ ǯ ȋ ȌͲǤͺͳǤ ͳͷ͵Ǧͳǡ ǯ ͳͷͳǤ #### 4. Commitments and Related Party Transactions Ǥ ͻͲΨ ǡ Ǥ̈́͵ǡ͵ʹͲ ͵ͳǡʹͲʹͳǤ ̈́ͳͻǡʹͲͻ̈́ͳ͵ǡͶͶ ͵ͳǡʹͲʹͳǤ ̈́ͻͲǡͲͲͲ ʹͲʹͳǤ #### 5. Financial Instruments, Off-Balance Sheet Risk and Contingencies ǡ ǯ ǡ ǡ ǡ Ǥ Ǧ Ǥ ǡ ǯ Ǥ Ǥ Ǥ ǯ ǡ ǡ ǡ ǡǡǡ Ǧ Ǥ Ǥ ǡ ȋDz dzȌǤ {11}------------------------------------------------ #### **6. Recent Account Pronouncements** #### *Paycheck Protection Program (PPP) Loans* The Company received loan proceeds in the amount of approximately \$90,253 under the Paycheck Protection Program ("PPP") in May, 2020 and \$85,000 in March, 2021 from Signature Bank. The \$90,253 was forgiven in June, 2021 and the \$85,000 was forgiven in November, 2021, both included in Other Income on the Statement of Operations. The PPP, established as part of the Coronavirus Aid, Relief and Economic Security Act ("CARES Act"), provides for loans to qualifying businesses for amounts up to 2.5 times of the average monthly payroll expenses of the qualifying business. The loans and accrued interest are forgivable after eight weeks as long as the borrower uses the loan proceeds for eligible purposes, including payroll, benefits, rent and utilities, and maintains its payroll levels. The amount of loan forgiveness will be reduced if the borrower terminates employees or reduces salaries during the eight-week period. #### *Leases* In February 2016, the FASB issued (ASU) 2016-02, "Leases (Topic 842)". This update includes a lease accounting model that recognizes two types of leases – finance leases and operating leases. The standard requires that a lessee recognize on the statement of financial condition relating to leases with terms of more than twelve months. The recognition, measurement, and presentation of expenses and cash flows arising from a lease by a lessee will depend on its classification as a finance or operating lease. There was no effect on the Company's financial statement for the year ending December 31, 2021. #### **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.