Full text of ELM CAPITAL USA LIMITED's X-17A-5 filed 2026-03-06 (period 2025-12-31). Broker-dealer annual report from SEC EDGAR — readable, searchable, and available as markdown for AI agents.
{0}------------------------------------------------ **UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549** **0MB APPROVAL 0MB Number: 3235-0123 Expires: Nov. 30, 2026 Estimated average burden hours per response: 12** SEC FILE **NUMBER** # **ANNUAL REPORTS FORM X-17A-5 PART Ill** **FACING PAGE** **Information Required Pursuant to Rules 17a-5, 17a-12, and lSa-7 under the Securities Exchange Act of 1934** 01/01/2025 12/31/2025 FILING FOR THE PERIOD BEGINNING ----------AND ENDING ----------- **MM/DD/YY MM/DD/YY** **A. REGISTRANT IDENTIFICATION** Elm Capital USA Limited NAME OF FIRM: \_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ \_ TYPE OF REGISTRANT (check all applicable boxes): ■ □ Broker-dealer □ Security-based swap 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.) # Southwest House, 11A Regent Street **(No. and Street)** London SW1Y 4LR #### **(City) (State) (Zip Code)** **I** PERSON TO CONTACT WITH REGARD TO THIS FILING Etienne Deshormes 00442079018940 edeshormes@elmcapital.com **(Name) (Area Code - Telephone Number) (Email Address)** ## **B. ACCOUNTANT IDENTIFICATION** INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing\* # Morris & Morris, P.C. **(Name -if individual, state last, first, and middle name)** # 32 Kearney Road Needham Heights MA 02494 01/06/2010 4066 **(Address) (City) (State) (Zip Code)** **{Date of Registration with PCAOB)(if applicable) (PCAOB RegfatraUoo Numbe<, ;f appkable)** **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.** {1}------------------------------------------------ ## O A T H O R A F FI R M A TI O N | I, _<br>_<br>_<br>_<br>__<br>_<br>_<br>_<br>_<br>_<br>_<br>_<br>_<br>_<br>_<br>_<br>_<br>_<br>_<br>_<br>_<br>_<br>_<br>_<br>_<br>_<br>_<br>Etienne Deshormes | _<br>_<br>_<br>_<br>_<br>_ | _<br>_<br>_<br>_<br>_<br>_<br>_<br>_<br>_, s<br>w<br>e<br>ar (<br>or affir<br>m) t<br>h<br>at, t<br>o t<br>h<br>e b<br>est of my k<br>…Read the full text as markdown