# STONELIVING SECURITIES, LLC X-17A-5 (2021-05-21) — Broker-dealer annual report - Company: STONELIVING SECURITIES, LLC - Form: X-17A-5 - Filed: 2021-05-21 - Period: 2021-03-31 - Accession: 0001488379-21-000001 - CIK: 1488379 - File #: 8-68551 - Material weakness: No - Auditor: Plante & Moran, PLLC - Auditor location: Chicago, IL - Contact: Stephen Miles - Phone: 312-670-5900 - Signed by: Stephen J. Miles (COO) Original filing: https://www.sec.gov/Archives/edgar/data/1488379/000148837921000001/slaudit.pdf --- {0}------------------------------------------------ **UNITEDSTATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549** 0MB APPROVAL 0MB Number: 3235-0123 Expires: October 31, 2023 Estimated average burden hours per response .. ... . 12.00 SEC FILE NUMBER 8-68551 # **ANNUAL AUDITED REPORT FORM X-17A-5 PART Ill** **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 04/01/20 | | -----------
AND ENDING 03/31/21 | | | |---------------------------------------------------------------------------------------------|--------------------------------------------------------|------------------------------------|--------------------------------|--| | | MM/DD/YY | | MM/DD/YY | | | | A. REGISTRANT IDENTIFICATION | | | | | NAME OF BROKER-DEALER: StoneLiving Securities LLC | | | OFFICIAL USE ONLY | | | ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use P.O. Box No.) | | | FIRM I.D. NO. | | | 443 North Clark Street, Suite 200 | | | | | | | (No. and S tree!) | | | | | Chicago | IL | | 60654 | | | (City) | (State) | | (Zip Code) | | | NAME AND TELEPHONE NUMBER OF PERSON TO CONTACT IN REGARD TO THIS REPORT
Stephen J. Miles | | | 312.670.5900 | | | | | | (Area Code - Telephone Number) | | | | B. ACCOUNTANT IDENTIFICATION | | | | | INDEPENDENT PUBLIC ACCOUNT ANT whose opinion is contained in this Report* | | | | | | Plante Moran | | | | | | | (Name - ifindil,idual. state last, first, middle name) | | | | | 10 South Riverside Plaza, 9th Floor Chicago | | IL | 60606 | | | (Address) | (City) | (State) | (Zip Code) | | | CHECK ONE: | | | | | | I
✓
Certified Public Accountant | | | | | | Public Accountant | | | | | | B
Accountant not resident in United States or any of its possessions. | | | | | | | FOR OFFICIAL USE ONLY | | | | | | | | | | | | | | | | *\*Claims for exemption from the requirement that the annual report be covered by the opinion of an independent public accountant must be supported by a statement of facts and circumstances relied on as the basis for the exemption. See Section 240.* J *7a-5(e)(2)* **Potential persons who are to respond to the collection of information contained** in **this form are not required to respond unless the form displays a currently valid 0MB control number.** SEC 1410 (11-05) {1}------------------------------------------------ ### **OATH OR AFFIRMATION** | 1, Stephen J. Miles | , swear (or affirm) that, to the best of | |-------------------------------------------------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------| | _s_t_on_e_L_iv_i_ng_ S_e_c_ur_it_ie_s_L_L_C | my knowledge and belief the accompanying financial statement and supporting schedules pertaining to the firm of
____________________________
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, as | | of March 31 | are true and correct. I further swear (or affirm) that | | | neither the company nor any partner, proprietor, principal officer or director has any proprietary interest in any account | | classified solely as that of a customer, except as follows: | | | | | | | | | | | | | | | | | | ~
OFl'ICIAL SEAL | | | ABBY GATES
( NOTARY PUBLIC, STATE OF ILLINC !S | | | ~,,~
' MY COMMISSION EXPIRES 11/03/2021 | coo | | r, | Title | | | | | | | | | | | This
report ** contains (check all applicable boxes): | | | 0 (a) Facing Page.
0 (b) Statement of Financial Condition. | | | | I{] (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). | | 0 ( d) Statement of Changes in Financial Condition. | | | | 0 (e) Statement of Changes in Stockholders' Equity or Partners' or Sole Proprietors' Capital. | | 0 (f) Statement of Changes in Liabilities Subordinated to Claims of Creditors. | | | (g) Computation of Net Capital.
(h) Computation for Determination of Reserve Requirements Pursuant to Ru | le I 5c3-3. | | ~ | (i) Information Re lating to the Possession or Control Requirements Under Ru le 15c3-3. | | | D U) A Reconciliation, including appropriate explanation of the Computation of Net Capital Under Rule 15c3-1 and the | | | Computation for Determination of the Reserve Requirements Under Exhibit A of Rule I 5c3-3. | | | D (k) A Reconciliation between the audited and unaudited Statements of Financial Condition with respect to methods of | | consolidation. | | | ✓ (I) An Oath or Affirmation. | | | 0 (m) A copy of the Sf PC Supp
lemental Report. | D (n) A report describing any material inadequacies found to exist or found to have existed since the date of the previous audit. | | | | | | **For conditions of confidential treatment of certain portions of this filing, see section 2 40.17 a-5 (e)(J ). | {2}------------------------------------------------ Stoneliving Securities, LLC Financial Report with Supplemental Information March 31, 2021 {3}------------------------------------------------ #### **Contents** | Report of Independent Registered Public Accounting Firm | | |-----------------------------------------------------------------------------------------------------------------------------------------------------------------|-------| | Financial Statements | | | Statement of Financial Condition | 2 | | Statement of Operations | 3 | | Statement of Changes in Members' Equity | 4 | | Statement of Cash Flows | 5 | | Notes to Financial Statements | 6-8 | | Supplemental Information | 9 | | Information Pursuant to Rule 17a-5 of the Securities Exchange
Act of 1934 | 10 | | Exemption Report SEC Rule 17a-5(d)(4) and Report of Independent
Registered Public Accounting Firm Review of the Exemption Report
SEA Rule 17a-5(g)(2)(ii) | 11-12 | {4}------------------------------------------------ ![](_page_4_Picture_0.jpeg) #### **Report of Independent Registered Public Accounting Firm** To the Members Stoneliving Securities, LLC #### **Opinion on the Financial Statements** We have audited the accompanying statement of financial condition of Stoneliving Securities, LLC as of March 31 , 2021 , the related statements of operations , changes in members' 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 Stoneliving Securities, LLC as of March 31 , 2021 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 Stoneliving Securities, LLC's management. Our responsibility is to express an opinion on Stoneliving Securities, 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 Stoneliving Securities, 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. #### **Supplemental Information** The supplemental information pursuant to Rule 17-aS of the Securities Exchange Act of 1934 has been subjected to audit procedures performed in conjunction with the audit of Stoneliving Securities, LLC's financial statements. The supplemental information is the responsibility of Stoneliving Securities, 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 is fairly stated, in all material respects , in relation to the financial statements as a whole. We have served as Stoneliving Securities, LLC's auditor since 2011. Chicago, Illinois May 17, 2021 ![](_page_4_Picture_13.jpeg) {5}------------------------------------------------ # **Statement of Financial Condition March 31, 2021** | Assets | | | |---------------------------------------|----|---------| | Cash | \$ | 420,058 | | Prepaid expenses and other assets | | 2,347 | | Total assets | | 422,405 | | | | | | Liabilities and Members' Equity | | | | Liabilities -
Accrued expenses | \$ | 17,354 | | Members' Equity | | 405,051 | | Total liabilities and members' equity | \$ | 422,405 | {6}------------------------------------------------ ## **Statement of Operations Year Ended March 31, 2021** | Investment banking
Revenue - | \$
1,528,000 | |------------------------------------|-----------------| | Expenses | | | Salaries and wages -
Others | 660,064 | | Salaries and wages -
Members | 155,625 | | Professional fees | 56,922 | | Occupancy and equipment | 50,738 | | Communication | 27,005 | | State registration and filing fees | 14,734 | | Office | 14,553 | | Other | 1,354 | | | | | Total expenses | 980,995 | | | | | Net Income | \$
547,005 | | | | {7}------------------------------------------------ # **Statement of Changes in Members' Equity Year Ended March 31, 2021** | As of April 1, 2020
Balance - | \$
1,317,929 | |--------------------------------------|------------------------| | Net income
Members' distributions | 547,005
{1,459,883} | | As of March 31, 2021
Balance - | \$
405,051 | {8}------------------------------------------------ # **Stoneliving Securities, LLC** # **Statement of Cash Flows Year Ended March 31, 2021** | Cash Flows from Operating Activities
Net income
Adjustments to reconcile net income to net
cash provided by operating activities | \$
547,005 | |-------------------------------------------------------------------------------------------------------------------------------------------|---------------| | Change in prepaid expenses and other assets | 2,074 | | Change in accrued expenses | 1,990 | | Net cash provided by operating activities | 551,069 | | Members' distributions
Cash Flows from Financing Activities - | {1,459,883) | | Net Decrease in Cash | (908,814) | | Beginning of year
Cash - | 1,328,872 | | End of year
Cash - | \$
420,058 | {9}------------------------------------------------ # **Notes to Financial Statements March 31, 2021** ## **Note 1 - Nature of Business and Summary of Significant Accounting Policies** Stoneliving Securities, LLC (the "Company") was formed on February 22, 2010 and is organized as a limited liability company pursuant to the Limited Liability Company Act of the State of Delaware. There are two members of the Company. The Company was approved as a FIN RA/SEC member firm on December 3, 2010. As a registered securities broker-dealer, the Company provides investment banking services to closely held companies throughout the United States. These services are provided in conjunction with consulting services provided by Livingstone Partners, LLC (the "Affiliate"). **Aspects of the Limited Liability Company** - As a limited liability company, the members' liability is limited to the capital invested. Under the operating agreement, the Company has one class of member interest, and the members' interests are in proportion to the number of equity units issued. Allocation of profit, losses, and distributions is in accordance with the terms as defined in the operating agreement. The Company shall continue in perpetuity unless sooner terminated as defined in the operating agreement. **Income Taxes** - The Company is treated as a partnership for federal income tax purposes. Consequently, federal income taxes are not payable by, or provided for, the Company. Members are taxed individually on the Company's earnings. Accordingly, the financial statements do not reflect a provision for income taxes, except for Illinois replacement taxes. **Cash** - The Company maintains its cash in a bank account, the balance of which at times may exceed federally insured limits. The Company has not experienced any losses in such account and believes it is not exposed to any significant credit risk on cash. **Revenue Recognition** - Investment banking revenue includes success fees earned from providing merger and acquisition and other advisory services to clients. Such revenue is recognized when the performance obligations are satisfied. This normally occurs at closing of the transaction or termination of the contract. {10}------------------------------------------------ # **Note 1 - Nature of Business and Summary of Significant Accounting Policies (Continued)** **Management Estimates** - The preparation of financial statements in conformity with GAAP (accounting principals generally accepted in the United States of America) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. # **Note 2 - Uniform Net Capital Rule** The Company is subject to the Securities and Exchange Commission's Uniform Net Capital Rule (SEC Rule 15c3-1), which requires the maintenance of minimum net capital and requires that the ratio of aggregate indebtedness to net capital, both as defined, shall not exceed 15 to 1. The net capital rule may also effectively restrict the distribution of members' capital. As of March 31, 2021, the Company had net capital of \$402,704, of which \$397,704 was in excess of its required net capital of \$5,000. The Company's ratio of aggregate indebtedness to net capital was 0.04 to 1.0. ## **Note 3 - Major Customers** During the year ended March 31, 2021, the Company's fee revenue was attributable to two customers. There were no balances owed from these customers as of March 31, 2021. ## **Note 4 - Related Party Transactions** Under an expense sharing agreement, the Company reimburses the Affiliate for expenses that are paid by the Affiliate but have been allocated to the Company. During the period from April 1, 2020 through March 31, 2021, the amount of expenses paid by the Company to the Affiliate was \$483,267. There was no balance due to the Affiliate as of March 31, 2021. ## **Note 5 - Contingencies** The Company is subject to litigation in the normal course of business. There was no litigation in progress as of March 31, 2021. {11}------------------------------------------------ # **Notes to Financial Statements March 31, 2021** ### **Note 6 - Subsequent Events** The Company has evaluated subsequent events through May 17, 2021 the date the financial statements were issued. ### **Note 7 - Economic Risks** In March 2020, the World Health Organization (WHO) declared COVID-19 a global pandemic. This pandemic event has resulted in significant business disruption and uncertainty in both global and U.S. markets. While the Company believes that it is in an appropriate position to sustain the potential short-term effects of these world-wide events, the direct and long-term impact to the Company and its financial statements is undetermined at this time. {12}------------------------------------------------ Supplemental Information {13}------------------------------------------------ | Computation of Net Capital Pursuant to SEC Rule 15c3-1 | | | |--------------------------------------------------------|----------------|--| | | March 31, 2021 | | | Total Members' Capital | \$ | 405,051 | |---------------------------------------------------|----|-------------| | Deductions and/or Charges
Non-allowable assets | | 2,347 | | Net capital before haircuts | | 402,704 | | Haircuts | | | | Net capital | | 402,704 | | Net Capital Requirement | | 5,000 | | Excess net ca pita I | \$ | 397,704 | | Aggregate Indebtedness | | 17,354 | | Ratio of Aggregate Indebtedness to Net Capital | | 0.04 to 1.0 | There were no material differences between the audited computation of net capital in this report and the Company's unaudited corresponding schedule FOCUS Part IIA of Form X-17A-5 as of March 31, 2021. {14}------------------------------------------------ # **STONELIVING SECURITIES LLC** 443 North Clark· Suite 200 · Chicago, Illinois· 60654 #### **EXEMPTION REPORT** #### **SEC RULE 17a-5(d)(4)** May 17, 2021 To Whom It May Concern: We, as members of management of Stoneliving Securities LLC (the "Company '1, are responsible for complying with Rule 17a-5, "Reports to be made by certain brokers and dealers". We have performed an evaluation of the Company's compliance with the requirements of Rule 17a-5 and the exemption provisions in Rule 15c3-3(k) (the "exemption provisions '1 and of the 2013 SEC Release adopting amendments to Rule 17a-5, including Footnote 74 of the 2013 SEC Release No. 34-70073 and Question 8 of the related FAQ' s release by the SEC staff. We have determined that the Company does not meet any of the exemption conditions of paragraph (k) of Rule 15c3-3 (i.e., paragraph (k)(l ), (k)(2)(i) or (k)(2)(ii)) but also (1) does 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 Exchange Act Rule 15c2-4 ("Rule 15c2-4"); (2) does not carry accounts of or for customers; and (3) does not carry PAB accounts (as defined in Rule 15c3-3) and therefore is not claiming an exemption in reliance on Footnote 74 of SEC Release 34-70073, and as discussed in Q&A 8 of the related FAQ issued by SEC staff. Accordingly, based on our evaluation we make the following statements to the best knowledge and belief of the Company: - 1. We reviewed the provi sions of Rule §15c3-3 and related guidance stated in the SEC Staff's FAQ and confirmed that the Company relied on Footnote 74 of the 2013 SEC Release. - 2. The Company conducted business activities involving merger and acquisition advisory services activity throughout the year ended March 31, 2021 without exception. - 3. The Company met the identified conditions for such reliance throughout the period April 1, 2020 through March 31, 2021 without exception. Signed: \_\_\_ ~~~ ~ - - ·=~-- Name: Stephen Miles Title: CEO {15}------------------------------------------------ ![](_page_15_Picture_0.jpeg) #### **Report of Independent Registered Public Accounting Firm** To the Members Stoneliving Securities, LLC We have reviewed management's statements, included in the accompanying Exemption Report, in which (1) Stoneliving Securities, LLC indicated that Stoneliving Securities, LLC does not meet any of the exemption conditions under paragraph (k) of SEC Rule 15c3-3 and may file an Exemption Report in reliance upon Footnote 74 of the 2013 SEC Release No. 34-70073 and Question 8 of the related FAQs released by the SEC staff, because it had no obligations under 17 C.F.R. §240.15c3-3, and Stoneliving Securities, LLC does not directly or indirectly receive, hold, or otherwise owe funds or securities for or to customers, other than money and other consideration received and promptly transmitted in compliance with paragraph (a) or (b)(2) of Exchange Act Rule 15c2-4; does not carry accounts of or for customers; and does not carry PAB accounts (as defined in Rule 15c3- 3) and (2) Stoneliving Securities, LLC stated that Stoneliving Securities, LLC had no exceptions under SEC Rule 15c3-3 throughout the most recent fiscal year. Stoneliving Securities, LLC's management is responsible for compliance with 17 C.F.R. §240.15c3-3. 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 Stoneliving Securities, LLC's compliance with SEC Rule 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 , based on the provisions set forth in 17 C.F.R. §240.15c3-3 under the Securities Exchange Act of 1934. Chicago, Illinois May 17, 2021 ![](_page_15_Picture_9.jpeg) {16}------------------------------------------------ ![](_page_16_Picture_0.jpeg) #### **Report of Independent Registered Public Accounting Firm on Applying Agreed-upon Procedures** To the Members Stoneliving Securities, LLC In accordance with Rule 17a-5(e)(4) under the Securities Exchange Act of 1934 and with the SIPC Series 600 Rules, we have performed the procedures enumerated below, which were agreed to by Stoneliving Securities, LLC and the Securities Investor Protection Corporation (SIPC) with respect to the accompanying General Assessment Reconciliation (Form SIPC-7) of Stoneliving Securities, LLC for the year ended March 31 , 2021 , solely to assist you and SIPC in evaluating Stoneliving Securities, LLC's compliance with the applicable instructions of the General Assessment Reconciliation (Form SIPC-7). Stoneliving Securities, LLC's management is responsible for Stoneliving Securities, LLC's compliance with those requirements. This agreedupon procedures engagement was conducted in accordance with attestation standards established by the Public Company Accounting Oversight Board (United States). 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 our findings are as follows: - 1. Compared the listed assessment payments in Form SIPC-7 with respective cash disbursement records entries, noting no differences - 2. Compared the total revenue amount reported on the Annual Audited Report Form X-17A-5 Part Ill for the year ended March 31 , 2021 with the total revenue amount reported in Form SIPC-7 for the year ended March 31 , 2021 , noting no differences - 3. Compared any adjustments reported in Form SIPC-7 with supporting schedules and working papers, noting no differences - 4. Proved the arithmetical accuracy of the calculations reflected in Form SIPC-7 and in the related schedules and working papers supporting the adjustments, noting no differences We were not engaged to, and did not, conduct an examination, the objective of which would be the expression of an opinion on compliance with the applicable instructions of Form SIPC-7. Accordingly, we do not express such an opinion. Had we performed additional procedures, other matters might have come to our attention that would have been reported to you. This report is intended solely for the information and use of the specified parties listed above and is not intended to be and should not be used by anyone other than these specified parties. Chicago, Illinois May 17, 2021 ![](_page_16_Picture_13.jpeg) {17}------------------------------------------------ | SIPC-7 | SECURITIES INVESTOR PROTECTION CORPORATION
P.O. Box 92185 Washington, D.C. 20090-2185
202-371-8300 | SIPC-7 | |----------------|----------------------------------------------------------------------------------------------------------|----------------| | (36-REV 12/18) | General Assessment Reconciliation | (36-REV 12/18) | #### **SECURITIES INVESTOR PROTECTION CORPORATION** P.O. Box 92185 Washington, D.C. 20090-2185 202-371-8300 **SIPC-7** For the fi scal year ended 3131121 (Read carefully the instructions in your Working Copy before completing this Form) # **TO BE FILED BY ALL SIPC MEMBERS WITH FISCAL YEAR ENDINGS** 1. Name of Member, address , Designated Examining Authority, 1934 Act registration no. and month in which fiscal year ends for purposes of the audit requirement of SEC Rule 17a-5: | | | I STONELIVING SECURITIES LLC
443 NORTH CLARK STREET
SUITE 200 | 7 | Note: If any of the information shown on the
mailing label requires correction , please e-mail
any corrections to form@sipc.org and so
indicate on the form filed. | |-------|----|--------------------------------------------------------------------------------------------------------------------------------|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------| | | | CHICAGO, IL 60654 | | Name and telephone number of person to | | | | | _J | contact respecting this form.
Stephen Miles -
312-670-5901 | | | | L | | | | | | | | | | 2. A. | | General Assessment (item 2e from page 2) | | | | | B. | Less payment made with SIPC-6 filed (exclude interest) | | | | | | | | | | | C. | Date Paid
Less prior overpayment applied | | | | | D. | Assessment balance due or (overpayment) | | 2,292 | | | E. | Interest computed on late payment (see instruction E) for ______ days at 20% per annum | | 0 | | | F. | Total assessment balance and interest due (or overpayment carried forward) | | \$2,292 | | | | G. PAYMENT:
✓ the box
Check mailed to P.O. Box D Funds Wired D
ACH □ 2 292
\$ '
Total (must be same as F above) | | | | | H. | Overpayment carried forward | | | | | | 3. Subsidiaries (S) and predecessors (P) included in this form (give name and 1934 Act registration number) : | | | | | | | | | | | | | | | | The SIPC member submitting this form and the
person by whom it is executed represent thereby
that all information contained herein is true , correct | Stephen Miles | |------------------------------------------------------------------------------------------------------------------------------------------------------------|---------------| | and complete. | | | Dated the_4 __ day of_M_ay _____
, 20 .3.2._ | cco | | | (Title) | **This form and the assessment payment is due 60 days after the end of the fiscal year. Retain the Working Copy of this form for a period of not less than 6 years, the latest 2 years in an easily accessible place.** | LI.I
== LI.I | a:: Dates
: | Postmarked | Received | Reviewed | | |-----------------|-----------------|--------------------------------|----------|---------------|--------------| | >
LI.I | Calculations | | | Documentation | Forward Copy | | a:: | c=» Exceptions: | | | | | | a | | en Disposition of exceptions : | | | | {18}------------------------------------------------ # **DETERMINATION OF "SIPC NET OPERATING REVENUES" AND GENERAL ASSESSMENT** Amounts for the fiscal period beginning \_4\_11\_12\_0 \_\_\_\_ \_ and ending **... ;;i ... 1:;i..... 11,.. 2..\_1** \_\_\_ \_ | Item No.
2a. Total revenue (FOCUS Line 12/Part IIA Line 9, Code 4030) | | Eliminate cents
\$ 1,528,000 | |-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------------------|---------------------------------| | 2b. Additions:
(1) Total revenues from the securities business of subsidiaries (except foreign subsidiaries) and
predecessors not included above. | | | | (2) Net loss from principal transactions in securities in trading accounts. | | | | (3) Net loss from principal transactions in commodities in trading accounts. | | | | (4) Interest and dividend expense deducted in determining item 2a. | | | | (5) Net loss from management of or participation in the underwriting or distribution of securities. | | | | (6) Expenses other than advertising, printing, registration fees and legal fees deducted in determining net
profit from management of or participation in underwriting or distribution of securities. | | | | (7) Net loss from securities in investment accounts. | | | | Total additions | | 0 | | 2c. Deductions:
(1) Revenues from the distribution of shares of a registered open end investment company or unit
investment trust, from the sale of variable annuities, from the business of insurance, from investment
advisory services rendered to registered investment companies or insurance company separate
accounts, and from transactions in security futures products. | | | | (2) Revenues from commodity transactions. | | | | (3) Commissions, floor brokerage and clearance paid to other SIPC members in connection with
securities transactions. | | | | (4) Reimbursements for postage in connection with proxy solicitation. | | | | (5) Net gain from securities in investment accounts. | | | | (6) 100% of commissions and markups earned from transactions in (i) certificates of deposit and
(ii) Treasury bills, bankers acceptances or commercial paper that mature nine months or less
from issuance date. | | | | (7) Direct expenses of printing advertising and legal fees incurred in connection with other revenue
related to the securities business (revenue defined by Section 16(9)(L) of the Act). | | | | (8) Other revenue not related either directly or indirectly to the securities business.
(See Instruction C): | | | | (Deductions in excess of \$100,000 require documentation) | | | | (9) (i) Total interest and dividend expense (FOCUS Line 22/PART IIA Line 13,
Code 4075 plus line 2b(4) above) but not in excess
of total interest and dividend income. | __________
\$
_ | | | (ii) 40% of margin interest earned on customers securities
accounts (40% of FOCUS line 5, Code 3960). | __________
\$
_ | | | Enter the greater of line (i) or (ii) | | 0 | | Total deductions | | 0 | | 2d. SIPC Net Operating Revenues | | \$
1,528,000 | | 2e. General Assessment@ .0015 | \$
2,292 | | | | | (to page 1, line 2.A.) | Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.