# MACRO RISK ADVISORS LLC X-17A-5 (2024-03-01) — Broker-dealer annual report

- Company: MACRO RISK ADVISORS LLC
- Form: X-17A-5
- Filed: 2024-03-01
- Period: 2023-12-31
- Accession: 0001442138-24-000001
- CIK: 1442138
- File #: 8-67973
- Type: Broker-dealer
- Material weakness: No
- Auditor: DCPA
- Auditor location: CENTURY CITY, CA
- Contact: Dean Curnutt
- Phone: 212 287 2640
- Email: dcurnutt@macroriskadvisors.com
- Website: macroriskadvisors.com
- Signed by: Dean Curnutt (Chief Executive Office)

Original filing: https://www.sec.gov/Archives/edgar/data/1442138/000144213824000001/macropublic2023.pdf

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Macro Risk Advisors LLC Statement of Financial Condition Pursuant to Rule 17a-5 (d) under the Securities Exchange Act of 1934 December 31, 2023 (With report of Independent Registered Public Accounting Firm Thereon)

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#### UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549

OMB APPROVAL OMB Number: 3235-0123 Expires: Nov. 30, 2026 Estimated average burden hours per response: 12

sec file number

8-67973

## ANNUAL REPORTS FORM X-17A-5 PART III

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 1/1/2023 |          | AND ENDING 12/31/2023 |  |  |
|------------------------------------------|----------|-----------------------|--|--|
|                                          | MM/DD/YY | MM/DD/YY              |  |  |

A. REGISTRANT IDENTIFICATION

# NAME OF FIRM: Macro Risk Advisors LLC

TYPE OF REGISTRANT (check all applicable boxes):

■ Broker-dealer □ Check here if respondent is also an OTC derivatives dealer

□ Major security-based swap participant

ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use a P.O. box no.)

## 411 Theodore Fremd Ave. Suite 206 South

|                                                  | (No. and Street)                                           |                                            |                 |  |  |  |  |
|--------------------------------------------------|------------------------------------------------------------|--------------------------------------------|-----------------|--|--|--|--|
| RYE                                              | NY                                                         |                                            | 10580           |  |  |  |  |
| (City)                                           | (State)                                                    |                                            | (Zip Code)      |  |  |  |  |
| PERSON TO CONTACT WITH REGARD TO THIS FILING     |                                                            |                                            |                 |  |  |  |  |
| Dean Curnutt                                     | 212-287 2640                                               | dcurnutt@macroriskadvisors.com             |                 |  |  |  |  |
| (Name)                                           | (Area Code - Telephone Number)                             |                                            | (Email Address) |  |  |  |  |
|                                                  | B. Accountant Identification                               |                                            |                 |  |  |  |  |
| DCPA                                             | (Name - if individual, state last, first, and middle name) |                                            |                 |  |  |  |  |
| 2121 Avenue of the Stars #800  Century City      |                                                            | CA                                         | 90067           |  |  |  |  |
| (Address)                                        | (City)                                                     | (State)                                    | (Zip Code)      |  |  |  |  |
| 9/15/2020                                        |                                                            | 6567                                       |                 |  |  |  |  |
| (Date of Registration with PCAOB)(if applicable) |                                                            | (PCAOB Registration Number, if applicable) |                 |  |  |  |  |
|                                                  | FOR OFFICIAL USE ONLY                                      |                                            |                 |  |  |  |  |
|                                                  |                                                            |                                            |                 |  |  |  |  |

\* Claims for exemption from the requirement that the annual 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-5(e)(1)(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 OMB control number.

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#### OATH OR AFFIRMATION

| Dean Curnutt |                                                                    |  |  | , swear (or affirm) that, to the best of my knowledge and belief, the |  |  |  |  |  |  |
|--------------|--------------------------------------------------------------------|--|--|-----------------------------------------------------------------------|--|--|--|--|--|--|
|              | financial report pertaining to the firm of Macro Risk Advisors LLC |  |  |                                                                       |  |  |  |  |  |  |
| Anion        |                                                                    |  |  |                                                                       |  |  |  |  |  |  |

12/31 , 2 023 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.

Title:

Chief Executive Officer

MARYROSE MERCADO NOTARY PUBLIC, STATE OF NEW YORK Registration No. 01ME6423025 Qualified in Queens County Qualmed in Queens County County

Signature: Dean ("urnitt

Notary Public

### This filing\*\* contains (check all applicable boxes):

- = (a) Statement of financial condition.
- (b) Notes to consolidated 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 cash flows.
- □ (e) Statement of changes in stockholders' or partners' or sole proprietor's equity.
- \_ (f) Statement of changes in liabilities subordinated to claims of creditors.
- □ (g) Notes to consolidated financial statements.
- □ (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.
- □ (j) 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.
- □ (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 capible net worth under 17 CFR 240.15c3-1, 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.
- (q) Oath or affirmation in accordance with 17 CFR 240.17a-5, 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.
- (t) Independent public accountant's report based on an examination of the statement of financial condition.
- □ (u) Independent public accountant's report based on an examination of the financial statements under 17 CFR 240.17a-5, 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.
- □ (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.
- | as applicable.
- \_ (y) Report describing any material inadequacies 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).
- □ (z) Other:
- \*\*To request confidential treatment of certain portions of this filing, see 17 CFR 240.17a-5(e)(2), as applicable.

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## Page(s)

| Report of Independent Registered Public Accounting Firm |  |
|---------------------------------------------------------|--|
| Statement of Financial Condition                        |  |
| Notes to Statement of Financial Condition               |  |

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### REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

DCPA

To those Charged with Governance and the Member of Macro Risk Advisors LLC:

#### Opinion on the Financial Statement

We have audited the accompanying statement of financial condition of Macro Risk Advisors LLC (the "Company") as of December 31, 2023, and the related notes (collectively referred to as the "financial statement"). In our opinion, the statement of financial condition presents fairly, in all material respects, the financial position of the Company as of December 31, 2023 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 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 in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statement is free of material misstatement, whether due to error or fraud. Our audit included performing procedures to assess the risks of material misstatement of the financial statement, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audit also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audit provides a reasonable basis for our opinion.

DCPA

DCPA We have served as the Company's auditor since 2022. Century City, California February 28, 2024

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## Macro Risk Advisors LLC Statement of Financial Condition December 31, 2023

| Assets                                                                   |    |              |
|--------------------------------------------------------------------------|----|--------------|
| Cash                                                                     | ಳು | 1,703,487    |
| Accounts receivable, net                                                 |    | 1,566,276    |
| Due from clearing broker, net                                            |    | 739.829      |
| Prepaid expenses and other assets                                        |    | 68,887       |
| Total assets                                                             |    | 4,078,479    |
| Liabilities and Member's Equity<br>Accounts payable and accrued expenses |    | \$ 1,247,064 |
| Total liabilities                                                        |    | 1,247,064    |
| Member's equity                                                          |    | 2,831,415    |
| Total liabilities and member's equity                                    |    | 4.078.479    |

The accompanying notes are an integral part of this financial statement.

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#### 1. DESCRIPTION OF ORGANIZATION AND BUSINESS

Macro Risk Advisors LLC (the "Company"), a New York Limited Liability Company, is a registered broker-dealer under the Securities Exchange Act of 1934. The Company clears its securities transactions on a fully disclosed basis with its clearing broker, AXOS Clearing LLC. The Company's effective date of organization was May 9, 2008, and the effective date of the Company's registration as a broker-dealer was April 14, 2009. The Company operates pursuant to SEC Rule 15c3-3 (k)(2)(ii) and does not hold customer funds or safe-keep customer securities.

The Company also engages in other activities contemplated by Footnote 74 of the SEC Release No. 34 - 70073 such as providing derivatives strategy and transaction firm specializing in generating trade ideas and providing financial market intelligence to institutional investors. The Company uses its expertise in derivative sales trading and its access to a diverse liquidity pool to help its clients execute trades in an efficient manner. The Company is a wholly owned subsidiary of Macro Holdings LLC (the "Parent"), and is a member of the Securities Investor Protection Company ("SIPC") and Financial Industry Regulatory Authority ("FINRA").

#### 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

#### Basis of Presentation

The preparation of financial statements in conformity with U.S generally accounting principles 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 financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

#### Concentrations of Credit Risk

Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash and accounts receivable. The Company places its cash with high credit quality financial institutions. . As of December 31, 2023, the amount on deposit 1,703,487 at this institution exceeds the maximum balance \$250,000 insured by the Federal Deposit Insurance Corporation ("FDIC") by \$1,453,487. Account monitoring procedures are utilized to minimize the risk of loss from accounts receivable. The Company generally does not require collateral or other security from its customers.

#### Accounts Receivable

Accounts receivable are stated at the amount management expects to collect from outstanding balances. Management provides for probable uncollectible amounts through a charge to earnings and a credit to an allowance for doubtful accounts. The allowance for doubtful accounts is estimated based on the Company's historical losses, current economic conditions, and the financial stability of its customers. Accounts receivable are recognized when revenue is earned and billed, and are recorded net of collections or write-offs. Net account receivable were \$1,566,276 at December 31, 2023. The Company generally does not charge interest. At December 31, 2023, the Company carried an allowance of \$500,000 for doubtful accounts.

#### Revenue Recognition

The Company follows ASC Topic 606, Revenue from Contracts with Customers ("ASC Topic 606"). This 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

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#### 3. RECENT ACCOUNTING PRONOUNCEMENTS

The Financial Accounting Standards Board (the "FASB") has established the Accounting Standards Codification ("Codification" or "ASC") as the authoritative source of generally accepted accounting principles ("GAAP") recognized by the FASB. The principles embodied in the Codification are to be applied by nongovernmental entities in the preparation of financial statements in accordance with GAAP in the United States. New accounting pronouncements are incorporated into the ASC through the issuance of Accounting Standards Updates ("ASUs").

For the year ending December 31, 2023, various ASUs issued by the FASB were either newly issued or had effective implementation dates that would require their provisions to be reflected in the financial statements for the year then ended. The Company has either evaluated or is currently evaluating the implications, if any, of each of these pronouncements and the possible impact they may have on the Company's financial statements. In most cases, management has determined that the pronouncement has either limited or no application to the Company and, in all cases, implementation would not have a material impact on the financial statements taken as a whole.

#### 4. DUE FROM CLEARING BROKER

The Company introduces its customer transactions to its clearing broker, with which it has a correspondent relationship for execution and clearance with the terms of a clearance agreement. The Company is required to maintain a collateral account with its clearing broker that serves as collateral for any losses that the clearing broker may sustain as a result of the failure of the Company's customers to satisfy their obligations in connection with their securities transactions. As of December 31, 2023, Due from clearing broker was \$239,830 which included GSEC \$32,907, and cash deposit was \$500,000.

#### 5. PROPERTY AND EQUIPMENT

No new property and equipment was purchased in 2023. All fixed assets were fully depreciated. Accordingly, depreciation expense was \$0 for the year ended at December 31, 2023.

#### 6. REGULATORY REQUIREMENTS

Pursuant to the net capital provisions of Rule 15c3-1 under the Securities Exchange Act of 1934, the Company is required to maintain a minimum net capital, as defined, equal to the greater of \$5,000 or 6 2/3% of aggregate indebtedness. Net capital and the related net capital ratio may fluctuate on a daily basis. At December 31, 2023, the Company had net capital of \$1,160,382 which exceeded their required minimum net capital of \$83,138 by \$1,077,244. The ratio of aggregate indebtedness to net capital was 1.07 to 1.

#### 7. FINANCIAL INSTRUMENTS WITH OFF-BALANCE-SHEET CREDIT RISK

The Company's customers' securities transactions are introduced on a fully disclosed basis with its clearing broker/dealer. The clearing broker/dealer and other custodians carry all of the accounts of the customers of the Company and are responsible for custody, collection and payment of funds, and receipt and delivery of securities related to customer transactions. Off-balance-sheet risk exists with respect to these transactions due to the possibility that customers may be unable to fulfill the contractual commitments wherein the clearing broker/dealer may charge any losses it incurs to the Company. The Company seeks to minimize this risk through procedures designed to monitor the

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