# MANULIFE JOHN HANCOCK BROKERAGE SERVICES LLC X-17A-5 (2026-03-24) — Broker-dealer annual report - Company: MANULIFE JOHN HANCOCK BROKERAGE SERVICES LLC - Form: X-17A-5 - Filed: 2026-03-24 - Period: 2025-12-31 - Accession: 0001467070-26-000002 - CIK: 1467070 - File #: 8-68303 - Type: Broker-dealer - Material weakness: No - Auditor: Ernst & Young, LLP - Auditor location: Boston, MA - Contact: Effie Georgountzos - Phone: 617-663-4335 - Email: egeorgountzos@jhancock.com - Website: jhancock.com - Signed by: Effie Georgountzos (Chief Financial Officer) Original filing: https://www.sec.gov/Archives/edgar/data/1467070/000146707026000002/mjhbs_annual_financials.pdf --- {0}------------------------------------------------ # F INANCIAL S TATEMENTS AND S UPPLEMENTAL I NFORMATION Manulife John Hancock Brokerage Services LLC For the Year Ended December 31, 2025 With Report of Independent Registered Public Accounting Firm {1}------------------------------------------------ | 8-68303 | | |---------|--| 01/01/25 12/31/25 Manulife John Hancock Brokerage Services LLC ■ | 200
Berkeley
Street | | | | |-----------------------------|--------------|----------------------------|-------| | | | | | | Boston | MA | | 02116 | | | | | | | | | | | | Effie
Georgountzos | 617-663-4335 | egeorgountzos@jhancock.com | | | | | | | | | | | | | Ernst
&
Young,
LLP | | | | | | | | | | 200
Clarendon
Street | Boston | MA | 02116 | | | | | | | | | | | | | | | | | | | | | {2}------------------------------------------------ | Effie Georgountzos | | | | |--------------------|-----|----------------------------------------------|--| | | | Manulife John Hancock Brokerage Services LLC | | | 12/31 | 025 | | | Effie Georgountzos Digitally signed by Effie Georgountzos Date: 2026.03.18 10:29:31 -04'00' Chief Financial Officer - - - - - - - - - - - - - - - - - - - - - - - - - - - {3}------------------------------------------------ # **FINANCIAL STATEMENTS AND SUPPLEMENTAL INFORMATION** # **YEAR ENDED DECEMBER 31, 2025** # **Contents** | Report of Independent Registered Public Accounting Firm 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 #### Supplemental Information | Schedule I – Computation of Net Capital Pursuant to Rule 15c3-1 of the Securities | | |-----------------------------------------------------------------------------------|--| | and Exchange Commission 13 | | | Schedule II – Statement Pursuant to Rule 15c3-3 of the Securities and Exchange | | | Commission 14 | | {4}------------------------------------------------ ![](_page_4_Picture_0.jpeg) Ernst & Young LLP 200 Clarendon Street Boston, MA 02116 Tel: +1 617 266 2000 Fax: +1 617 266 5843 ey.com #### **Report of Independent Registered Public Accounting Firm** To the Member and the Board of Directors of Manulife John Hancock Brokerage Services LLC #### **Opinion on the Financial Statements** We have audited the accompanying statement of financial condition of Manulife John Hancock Brokerage Services LLC (the "Company") as of December 31, 2025, 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 the Company at December 31, 2025, and the results of its operations and its cash flows for the year then ended, in conformity with U.S. generally accepted accounting principles. #### **Basis for Opinion** These financial statements are 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. #### **Supplemental Information** The accompanying information contained in Schedules I and II has been subjected to audit procedures performed in conjunction with the audit of the Company's financial statements. Such information is the responsibility of the Company's management. Our audit procedures included determining whether the 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. In forming our opinion on the information, we evaluated whether such information, including its form and content, is presented in conformity with Rule 17a-5 under the Securities Exchange Act of 1934. In our opinion, the information is fairly stated, in all material respects, in relation to the financial statements as a whole. *We have served as the Company's auditor since 2024.* March 18, 2026 {5}------------------------------------------------ # **MANULIFE JOHN HANCOCK BROKERAGE SERVICES LLC STATEMENT OF FINANCIAL CONDITION DECEMBER 31, 2025** | Assets | | |-------------------------------------------------------|------------------| | Cash & cash equivalents | \$
40,000 | | Money market securities – trading (cost \$12,295,487) | 12,295,487 | | Due from affiliated companies | 541,663 | | Other assets | 250,697 | | Total assets | \$
13,127,847 | | Liabilities | | | Due to affiliated companies | \$
1,002,589 | | Accrued liabilities | 61,881 | | Total liabilities | 1,064,470 | | Member's equity | | | Member's capital | 20,000,000 | | Retained earnings (deficit) | (7,936,623) | | Total Member's equity | 12,063,377 | | Total liabilities & Member's equity | \$
13,127,847 | {6}------------------------------------------------ # **MANULIFE JOHN HANCOCK BROKERAGE SERVICES LLC STATEMENT OF OPERATIONS** # **YEAR ENDED DECEMBER 31, 2025** ## **Revenues** | Rule 12b-1 service fees | \$
2,959,659 | |-----------------------------------------------------|-------------------| | Dividend income | 601,472 | | Interest income | 112 | | Other revenue | 639,360 | | Total revenues | 4,200,603 | | Expenses | | | Membership & regulatory fees | 202,809 | | Audit fees | 123,760 | | Admin services expenses | 9,835,813 | | Other selling, general, and administrative expenses | 11,358 | | Total expenses | 10,173,740 | | Income (loss) before income taxes | (5,973,137) | | Income tax expense (benefit) | (1,254,360) | | Net income (loss) | \$
(4,718,777) | {7}------------------------------------------------ # **MANULIFE JOHN HANCOCK BROKERAGE SERVICES LLC STATEMENT OF CHANGES IN MEMBER'S EQUITY YEAR ENDED DECEMBER 31, 2025** | | Member's Capital | Retained Earnings | | Total Member's | | |------------------------------|------------------|-------------------|-------------|----------------|-------------| | | | (Deficit) | | | Equity | | Balance at January 1, 2025 | \$
20,000,000 | \$ | (3,217,846) | \$ | 16,782,154 | | Net income (loss) | | | (4,718,777) | | (4,718,777) | | Balance at December 31, 2025 | \$
20,000,000 | \$ | (7,936,623) | \$ | 12,063,377 | {8}------------------------------------------------ # **STATEMENT OF CASH FLOWS** #### **YEAR ENDED DECEMBER 31, 2025** #### **Operating activities** | Net income (loss) | \$
(4,718,777) | |---------------------------------------------------------------------------------------------|-------------------| | Adjustments to reconcile net income to net cash provided
(used) by operating activities: | | | Net (subscriptions) redemptions of money market securities | 4,883,249 | | Change in operating assets and liabilities: | | | Accrued liabilities | (45,939) | | Due to/from affiliated companies | (107,056) | | Other assets | (11,489) | | Net cash provided by (used in) operating activities | (12) | | Net increase (decrease) in cash | (12) | | Cash balance at beginning of year | 40,012 | | Cash at end of year | \$
40,000 | {9}------------------------------------------------ # **NOTES TO FINANCIAL STATEMENTS** #### **Note 1 – Organization and Description of Business** Manulife John Hancock Brokerage Services LLC (the "Company") is a direct wholly-owned subsidiary of John Hancock Subsidiaries LLC ("JHS" or "Parent"). JHS is a direct wholly-owned subsidiary of John Hancock Life Insurance Company (U.S.A.) ("JHUSA"). JHUSA is an indirect, wholly-owned subsidiary of John Hancock Financial Corporation ("JHFC"). JHFC is an indirect, wholly-owned subsidiary of Manulife Financial Corporation ("MFC"), a Canadian-based, publicly traded financial services holding company. The Company is a registered broker dealer under the Securities Exchange Act of 1934 (the "Act"). The Company is also a member of the Financial Industry Regulatory Authority, Inc. ("FINRA"). The Company serves as a retail introducing broker-dealer, operating on a fully disclosed basis for mutual funds, general securities, bonds, options, municipal products, private placements, variable insurance and annuity products. The Company is a member of the Securities Investor Protection Corporation ("SIPC") through which customer accounts are protected in the event of the Company's insolvency up to \$500,000; including a maximum of \$250,000 for cash claims. The Company does not open customer accounts or affect customer transactions and does not accept any customer funds or securities for deposit into any of the Company's accounts. The Company is a member of SIPC as a requirement of its membership in the Municipal Securities Rulemaking Board. #### **Note 2 – Summary of Significant Accounting Policies** **Basis of Presentation**. These financial statements have been prepared in conformity with U.S. generally accepted accounting principles ("U.S. GAAP"), which require management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from these estimates. **Cash and cash equivalents.** Cash and cash equivalents includes cash held on hand. At times, cash may exceed the insurance limits of the Federal Deposit Insurance Corporation. Management believes its risk of loss is mitigated by investing through major financial institutions. **Money Market Securities.** The Company classifies its money market securities as trading securities and records these securities at fair value. Any change in fair value related to trading securities is included in other revenue in the Statement of Operations. These securities include investments in money market registered investment companies. **Fair Value Measurements.** Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction (not a forced liquidation or distressed sale) between market participants at the measurement date; that is, an exit value. The Company categorizes its fair value measurements according to a three-level hierarchy. The hierarchy prioritizes the inputs used by the Company's valuation techniques. A level is assigned {10}------------------------------------------------ # **NOTES TO FINANCIAL STATEMENTS** to each fair value measurement based on the lowest level input significant to the fair value measurement in its entirety. The three levels of the fair value hierarchy are defined as follows: - 1. Level 1 Fair value measurements that reflect unadjusted, quoted prices in active markets for identical assets that the Company has the ability to access at the measurement date. - 2. Level 2 Fair value measurements using inputs other than quoted prices included within Level 1 that are observable for the asset, either directly or indirectly. - 3. Level 3 Fair value measurements using significant non-market observable inputs. These include valuations for assets that are derived using data, some or all of which is not market observable data, including assumptions about risk. Money market securities are classified within Level 1 of the fair value hierarchy and based on quoted market prices. Additionally, there were no transfers into or out of Level 1, Level 2, or Level 3 during the year ended December 31, 2025. **Revenue Recognition.** Fees earned pursuant to Rule 12b-1 distribution plans are recorded in the period in which the service is rendered. Dividend income is recognized on an accrual basis. Other revenue, including transfer agent fees, is recognized upon account setup. **Income Taxes**. The provision for federal income taxes includes amounts currently payable or recoverable and deferred income taxes, computed under the liability method, resulting from temporary differences between the tax and financial statement bases of assets and liabilities. A valuation allowance is established for deferred tax assets when it is more likely than not that an amount will not be realized. In accordance with the income tax sharing agreement in effect for the applicable tax year, the income tax provision (or benefit) is computed as if each entity filed a separate federal income tax return with tax benefits provided for operating losses and tax credits when utilized and settled by the consolidated group. Intercompany settlements of income taxes are made through an increase or reduction to due from affiliated companies. Such settlements occur on a periodic basis in accordance with the tax sharing agreements. # **Note 3 – Related Party Transactions** Management believes the allocation methods used are reasonable and appropriate in the circumstances; however, the Company's Statement of Financial Condition and Statement of Operations may not necessarily be indicative of the financial condition and results that would have existed if the Company operated as an unaffiliated entity. **Rule 12b-1 Distribution Plans.** The Company receives payments from Rule 12b-1 distribution plans adopted by certain Funds pursuant to Rule 12b-1 of the Investment Company Act of 1940, as amended. These plans are subject to annual review and approval by the independent trustees of each of the Funds. Under the terms of the distribution plans, each Fund makes monthly payments (fees earned pursuant to Rule 12b-1 distribution plans) which will not exceed the lesser of a set percentage of each Fund's average daily net assets on an annual basis or the pro rata share of the {11}------------------------------------------------ #### **NOTES TO FINANCIAL STATEMENTS** Company's costs of distribution incurred on behalf of each Fund. The Company also earns Rule 12b-1 distribution fees for distributing certain funds for John Hancock Investment Management Distributors LLC ("JHIMD"), an affiliated company, which amounted to \$2,959,659 for the year ended December 31, 2025. These fees are included in Rule 12b-1 service fees revenue in the Statement of Operations. **Service Agreements.** The Company reimburses JHUSA payroll, shared services, and other administrative expenses. These expenses amounted to \$9,835,813 for the year ended December 31, 2025 and are included in administrative services expense in the Statement of Operations. **Due from/to Affiliated Companies.** Due to affiliated companies at December 31, 2025 included membership, regulatory, and consulting fees and taxes received on behalf of the Company. Reimbursed amounts are included in other selling, general and administrative expenses and administrative service expenses amounted to \$1,002,589 for the year ended December 31, 2025. Generally, these are settled monthly. Due from affiliated companies at December 31, 2025 included taxes recovered on behalf of the Company by JHUSA, 12b-1 fees from JHIMD, and transfer agent account set up fee revenue from John Hancock Signature Services, Inc. ("JHSS"). Generally, these are settled monthly. Amount due from affiliated companies as of December 31, 2025 were: #### **As at December 31, 2025** | JHIMD
JHSS | \$
372,373
169,290 | |-------------------------------|--------------------------| | Due from affiliated companies | \$
541,663 | #### **Note 4 – Income Taxes** The Company is included in the consolidated federal income tax return of JHFC. The components of income taxes for the year ended December 31, 2025 were as follows: | Current taxes | | |------------------------------------|-------------------| | Federal | \$
(1,254,360) | | Total | (1,254,360) | | | | | Deferred taxes | | | Federal | - | | Total | - | | Total Income Tax Expense (Benefit) | \$
(1,254,360) | {12}------------------------------------------------ #### **NOTES TO FINANCIAL STATEMENTS** A reconciliation of income taxes at the federal income tax rate to income tax expense (benefit) charged to operations for the year ended December 31, 2025 follows: | | Amount | Percent | |----------------------------------------|-------------------|---------| | U.S. Federal Tax at Statutory Tax Rate | \$
(1,254,360) | 21% | | Total Income Tax Expense (Benefit) | \$
(1,254,360) | 21% | For the year ended December 31, 2025, the Company made intercompany payments (receipts) related to the following jurisdictions: | Federal | (1,253,299) | |--------------------------------------|-------------------| | Income Taxes (Received), Net of Paid | \$
(1,253,299) | The Company has no deferred tax assets and therefore no valuation allowance. The Inflation Reduction Act ("Act") was enacted on August 16, 2022, and included a new corporate alternative minimum tax ("CAMT") that goes into effect for tax years beginning after 2022. The Company is a member of a controlled group of corporations whose adjusted financial statement income qualifies it as an "applicable corporation" and therefore subject to CAMT. For the year-ended December 31,2025, the Company's best estimate of its CAMT liability is zero which is calculated based on all relative guidance to date. In addition, the company has made an accounting policy election to disregard CAMT when evaluating the need for a valuation allowance on its regular non-CAMT DTA's. On June 20, 2024, Canada enacted the Global Minimum Tax Act, retrospective to fiscal periods commencing on or after December 31, 2023. The Company's ultimate parent Manulife Financial Corporation ("MFC") is in scope of this legislation because it is located in Canada and will be required to pay additional Global Minimum Taxes ("GMT") in Canada in respect of its global entities whose effective tax rate is below 15%. MFC's entities will also be subject to GMT in those jurisdictions where a Qualifying Domestic Minimum Top-up tax ("QDMTT") is in effect. The United States adopted a Corporate Alternative Minimum Tax ("CAMT") of 15%, with an effective date of January 1, 2023. CAMT is not a QDMTT for the purposes of GMT. The Company did not incur any expense associated with the GMT in 2025. The Company has no reserves for uncertain tax positions. Any related interest and penalties, if applicable, would be recorded in other selling, general and administrative expense in the Statement of Operations. {13}------------------------------------------------ ## **NOTES TO FINANCIAL STATEMENTS** The Company has no reserves for uncertain tax positions. Any related interest and penalties, if applicable, would be recorded in other selling, general and administrative expense in the Statement of Operations. #### **Note 5 – Net Capital and Regulatory Requirements** As a registered broker dealer, the Company is subject to the SEC's uniform net capital rule ("Rule 15c3-1"). Pursuant to the net capital provisions of Rule 15c3-1 of the Act, the Company is required to maintain minimum net capital, as defined. The amount of net capital and the related net capital ratio may fluctuate on a daily basis. Also, according to Rule 15c3-1, the Company is prohibited from withdrawing equity capital, if such withdrawal would cause the Company's aggregate indebtedness to net capital to exceed 10 times its net capital; its net capital to fall below 120 percent of its minimum dollar requirement; or net capital to be less than 25 percent of haircuts used in calculating net capital. This limitation includes withdrawals in the form of distributions, as well as unsecured loans or advances to the member, employees, or affiliates. At December 31, 2025, the Company had net capital, as defined, of \$11,015,107. The minimum net capital requirement at December 31, 2025 was \$250,000. The Company does not claim an exemption under paragraph (k) of 17 C.F.R. § 240.15c3-3, and relies on Footnote 74 of the SEC Release No. 34-70073. # **Note 6 – Segment Reporting** The Company's reportable segment, Global Wealth and Asset Management (Global WAM), is responsible for managing its operating results, developing products, and defining strategies for services and distribution based on the profile and needs of its business and market. Global WAM derives its revenues by providing investment advice and innovative solutions. The reportable segment is identified based on the internal management reporting system, which reflects how the company's Chief Operating Decision Maker (CODM) reviews and assesses the performance of the business. The CODM uses this information to make decisions about resource allocation and performance evaluation. The Company's operations constitute a single reportable segment, as the CODM manages the business activities using information of the Company as a whole. The accounting policies used to measure the profit and loss of the segment are described in the summary of significant accounting policies (Note 2). Upon consideration of the performance assessment and resource allocation process for the Company, it is determined that the Company's CODM holds the title: President and CEO of Manulife John Hancock Investments and Head of Retail Manulife Investment Management. Please refer to the Statement of Operations for information about Global WAM's profit or loss, including revenues, interest and other, significant expenses, other specified items. The CODM reviews net income metrics on a regular basis. {14}------------------------------------------------ # **NOTES TO FINANCIAL STATEMENTS** #### **Note 7 – Legal Proceedings** The Company is inherently subject to regulatory risk in that a change in laws and regulations could impact aspects of the Company's business. A change in laws or regulations effected by the Securities and Exchange Commission or FINRA may increase operating costs, reduce the attractiveness of certain investments, and/or change the competitive landscape. #### **Note 8** – **Subsequent Events** The Company evaluated the recognition and disclosure of subsequent events for its December 31, 2025 financial statements through March 18, 2026, the date on which the financial statements were issued. {15}------------------------------------------------ Supplemental Information {16}------------------------------------------------ #### **NOTES TO FINANCIAL STATEMENTS** Manulife John Hancock Brokerage Services LLC Schedule I - Computation of Net Capital Pursuant to Rule 15c3-1 of the Securities and Exchange Commission December 31, 2025 | Computation of Net Capital | | |---------------------------------------------------------------|------------------| | Total member's equity (from Statement of Financial Condition) | \$
12,063,377 | | Allowable credits: | | | Other (deductions) or allowable credits | (10,000) | | Total capital | 12,053,377 | | | | | Less: Nonallowable assets: | | | Due from affiliated companies | 541,663 | | Other assets | 250,697 | | Total nonallowable assets | 792,360 | | Net capital before haircuts on securities positions | 11,261,017 | | Haircuts on securities: | | | Investment in money market securities | 245,910 | | Total haircuts on securities | 245,910 | | Net capital | \$
11,015,107 | | | | #### **Computation of Alternate Net Capital Requirement** | Minimum net capital required (2% of aggregate debit items pursuant to | | | | |-----------------------------------------------------------------------|----|------------|--| | Rule 15c3-3) | \$ | - | | | Minimum dollar net capital requirement | \$ | 250,000 | | | Net capital requirement (greater of above amounts) | \$ | 250,000 | | | Excess net capital over requirement | \$ | 10,765,107 | | *There were no material differences between the computation of net capital under Rule 15c3-1 included in this audited report and the computation included in the Company's corresponding unaudited Form X-17a-5, Part II A filing as of December 31, 2025.* {17}------------------------------------------------ ## Manulife John Hancock Brokerage Services LLC Schedule II – Statement Pursuant to Rule 15c3-3 of the Securities and Exchange Commission December 31, 2025 The Company does not claim an exemption under paragraph (k) of 17 C.F.R. § 240.15c3-3, and relies on Footnote 74 of the SEC Release No. 34-70073. {18}------------------------------------------------ ![](_page_18_Picture_0.jpeg) Ernst & Young LLP 200 Clarendon Street Boston, MA 02116 Tel: +1 617 266 2000 Fax: +1 617 266 5843 ey.com # **Report of Independent Registered Public Accounting Firm** To the Board of Directors and Management of Manulife John Hancock Brokerage Services LLC We have reviewed management's statements, included in the accompanying exemption report, in which Manulife John Hancock Brokerage Services LLC (the "Company") stated that: - (1) The Company does not claim an exemption under paragraph (k) of 17 C.F.R. § 240. 15c3-3, and - (2) The Company is relying on Footnote 74 of the SEC Release No. 34-70073 adopting amendments to 17 C.F.R. § 240.17a-5 because, the Company limits its business activities exclusively to: 1) broker retailing corporate equity securities over-the-counter; 2) non-exchange member arranging for transactions in listed securities by exchange member; 3) broker selling corporate debt securities; 4) mutual fund retailer; 5) broker selling variable life insurance or annuities; 6) U.S. government securities broker; 7) municipal securities broker; 8) private placements of securities; and 9) put and call broker, and the Company (1) did not directly or indirectly receive, hold, or otherwise owe funds or securities for or to customers, (other than money or other consideration received and promptly transmitted in compliance with paragraph (a) or (b)(2) of Rule 15c2-4 and/or funds received and promptly transmitted for effecting transactions via subscriptions on a subscription way basis where the funds are payable to the issuer or its agent and not to the Company); (2) did not carry accounts of or for customers; and (3) did not carry PAB accounts (as defined in Rule 15c3-3) throughout the most recent fiscal year ended December 31, 2025 without exception. Management is responsible for compliance with 17 C.F.R. § 240.15c3-3 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 the Company's compliance with 17 C.F.R. § 240.15c3-3. 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, pursuant to footnote 74 of SEC Release No. 34-70073 adopting amendments to 17 C.F.R. § 240.17a-5. This report is intended solely for the information and use of the Board of Directors, management, the SEC, the FINRA, other regulatory agencies that rely on Rule 17a-5 under the Securities Exchange Act of 1934 in their regulation of registered brokers and dealers, and other recipients specified by Rule 17a-5(d)(6) and is not intended to be and should not be used by anyone other than these specified parties. March 18, 2026 {19}------------------------------------------------ ![](_page_19_Picture_0.jpeg) #### **Manulife John Hancock Brokerage Services LLC's Exemption Report** **Manulife John Hancock Brokerage Services 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)(1) and (4). To the best of its knowledge and belief, the Company states the following:** - **(1) The Company does not claim an exemption under paragraph (k) of 17 C.F.R. § 240.15c3-3, and** - **(2) The Company is filing this Exemption Report relying on Footnote 74 of the SEC Release No. 34-70073 adopting amendments to 17 C.F.R. § 240.17a-5 because the Company limits its business activities exclusively to:** - **a. Broker retailing corporate equity securities over-the-counter;** - **b. Non-exchange member arranging for transactions in listed securities by exchange member;** - **c. Broker selling corporate debt securities;** - **d. Mutual fund retailer;** - **e. Broker selling variable life insurance or annuities;** - **f. U.S. government securities broker;** - **g. Municipal securities broker;** - **h. Private placements of securities; and** - **i. Put and call broker.** **The Company (1) did not directly or indirectly receive, hold, or otherwise owe funds or securities for or to customers, (other than money or other consideration received and promptly transmitted in compliance with paragraph (a) or (b)(2) of Rule 15c2-4 and/or funds received and promptly transmitted for effecting transactions via subscriptions on a subscription way basis where the funds are payable to the issuer or its agent and not to the Company); (2) did not carry accounts of or for customers; and (3) did not carry PAB accounts (as defined in Rule 15c3-3) throughout the most recent fiscal year without exception.** #### **Manulife John Hancock Brokerage Services LLC** **I, \_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_, swear (or affirm) that, to my best knowledge and belief, this Exemption Report is true and correct.** **By: Effie Georgountzos Title: Chief Financial Officer March 18, 2026** {20}------------------------------------------------ ![](_page_20_Picture_0.jpeg) Ernst & Young LLP 200 Clarendon Street Boston, MA 02116 Tel: +1 617 266 2000 Fax: +1 617 266 5843 ey.com #### **Report of Independent Registered Public Accounting Firm on Applying Agreed-Upon Procedures** To the Board of Directors and Management of Manulife John Hancock Brokerage Services LLC: We have performed the procedures included in Rule 17a-5(e)(4) under the Securities Exchange Act of 1934 and in the Securities Investor Protection Corporation (SIPC) Series 600 Rules, which are enumerated below on the accompanying General Assessment Reconciliation (Form SIPC-7) for the year ended December 31, 2025. Management of Manulife John Hancock Brokerage Services LLC (Company) is responsible for its Form SIPC-7 and for its compliance with the applicable instructions on Form SIPC-7. Management of the Company has agreed to and acknowledged that the procedures performed are appropriate to meet the intended purpose of assisting you and SIPC in evaluating the Company's compliance with the applicable instructions on Form SIPC-7 for the year ended December 31, 2025. Additionally, SIPC has agreed to and acknowledged that the procedures performed are appropriate for their intended purpose. This report may not be suitable for any other purpose. The procedures performed may not address all the items of interest to a user of this report and may not meet the needs of all users of this report and, as such, users are responsible for determining whether the procedures performed are appropriate for their purposes. The sufficiency of these procedures is solely the responsibility of those parties specified in this report. Consequently, we make no representation regarding the sufficiency of the procedures described below either for the purpose for which this report has been requested or for any other purpose. The procedures we performed and the associated findings are as follows: 1. Compared the listed assessment payments in Form SIPC-7 with respective cash disbursement record entries in the bank statement. #### **No findings were found as a result of applying the procedure.** 2. Compared the total revenue amounts reported on the annual audited report Form X-17A-5 Part III for the fiscal year ended December 31, 2025 with the total revenue amounts reported in Form SIPC-7 for the year-ended December 31, 2025. #### **No findings were found as a result of applying the procedure.** 3. Compared any adjustments reported in Form SIPC-7 with supporting schedules and working papers included as part of management's SIPC revenue breakdown worksheet. #### **No findings were found as a result of applying the procedure.** {21}------------------------------------------------ ![](_page_21_Picture_0.jpeg) 4. Recalculated the arithmetical accuracy of the calculations reflected in Form SIPC-7 and in the related schedules and working papers supporting the adjustments. #### **No findings were found as a result of applying the procedure.** We were engaged by the Company to perform this agreed-upon procedures engagement and conducted our engagement in accordance with attestation standards established by the American Institute of Certified Public Accountants and in accordance with the standards of the Public Company Accounting Oversight Board (United States). An agreed-upon procedures engagement involves the practitioner performing specific procedures that the engaging party has agreed to and acknowledged to be appropriate for the purpose of the engagement and reporting on findings based on the procedures performed. We were not engaged to, and did not conduct an examination or a review engagement, the objective of which would be the expression of an opinion or conclusion, respectively, on the Company's Form SIPC-7 and for its compliance with the applicable instructions on Form SIPC-7 for the year ended December 31, 2025. Accordingly, we do not express such an opinion or conclusion. Had we performed additional procedures, other matters might have come to our attention that would have been reported to you. As agreed, any differences when performing procedures over the accompanying Form SIPC-7 that are less than \$1, due to the SIPC online portal truncating cents resulting in rounding down to the nearest dollar, were considered minor and were not included in our findings. We are required to be independent of the Company and to meet our other ethical responsibilities in accordance with the relevant ethical requirements related to our agreed-upon procedures engagement. This report is intended solely for the information and use of the Company and SIPC and is not intended to be and should not be used by anyone other than these specified parties. March 18, 2026 {22}------------------------------------------------ | | \$% &

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