# MUFG Securities EMEA plc X-17A-5 (2025-04-25) — Broker-dealer annual report - Company: MUFG Securities EMEA plc - Form: X-17A-5 - Filed: 2025-04-25 - Period: 2024-12-31 - Accession: 0001597694-25-000027 - CIK: 1597694 - Material weakness: No - Auditor: Deloitte - Auditor location: London, X0 - Contact: Travers Fensham - Phone: 00442075772430 - Website: co.uk Original filing: https://www.sec.gov/Archives/edgar/data/1597694/000159769425000027/Exempt2024.pdf --- {0}------------------------------------------------ ### **Independent Accountant's Report** 24 April 2025 The Board of Directors MUFG Securities EMEA plc 25 Ropemaker Street London EC2Y 9LY To the Directors of MUFG Securities EMEA plc We have reviewed management's statements, included in the accompanying 'Exemption Required by SEC Rule 18a-7', including Appendix A (the "Exemption Report") in which MUFG Securities EMEA plc (the "Company") stated (1) that the Company claimed an exemption from 17 C.F.R. § 240.18a-4 under the provision of 17 C.F.R. § 240.18a-4(f), and (2) the Company met the conditions described within the Assertions column in Appendix A of the Exemption Report throughout the period from January 1, 2024 to December 31, 2024, except as described in its exemption report ("management's assertions"). The Company's management is responsible for its assertions. Our responsibility is to express a conclusion on management's assertions based on our review. Our review was conducted in accordance with attestation standards established by the AICPA. Those standards require that we plan and perform the review to obtain limited assurance about whether any material modifications should be made to management's assertions in order for them to be fairly stated. The procedures performed in a review vary in nature and timing from and are substantially less in extent than an examination, the objective of which is to obtain reasonable assurance about whether management's assertions are fairly stated, in all material respects, in order to express an opinion. Accordingly, we do not express such an opinion. Because of the limited nature of the engagement, the level of assurance obtained in a review is substantially lower than the assurance that would have been obtained had an examination been performed. We believe that the review evidence obtained is sufficient and appropriate to provide a reasonable basis for our conclusion. We are required to be independent and to meet our other ethical responsibilities in accordance with relevant ethical requirements related to the engagement. As a basis for our conclusion, we performed the following procedures: - 1) read the Exemption Report to determine the exemption provisions under which the Company asserts its exemption; - 2) performed inquiries and other review procedures; and - 3) evaluated whether the evidence indicates that there should be modifications to the Company's assertions based on the results of the procedures performed. Deloitte LLP is a limited liability partnership registered in England and Wales with registered number OC303675 and its registered office at 1 New Street Square, London EC4A 3HQ, United Kingdom. Deloitte LLP is the United Kingdom affiliate of Deloitte NSE LLP, a member firm of Deloitte Touche Tohmatsu Limited ("DTTL"), a UK private company limited by guarantee, whose member firms are legally separate and independent entities. DTTL and Deloitte NSE LLP do not provide services to clients. Please see www.deloitte.co.uk/about for a detailed description of the legal structure of DTTL and its member firms. {1}------------------------------------------------ Based on our review, we are not aware of any material modifications that should be made to management of the Company's assertions in order for them to be fairly stated. This report is intended solely for the information and use of the Company's management, the Directors, the Securities and Exchange Commission, and the Financial Industry Regulatory Authority, and is not intended to be, and should not be, used by anyone other than the specified parties. Deloitte LLP 24 April 2025 {2}------------------------------------------------ ![](_page_2_Picture_0.jpeg) 24 th April 2025 ## **Exemption Required by SEC Rule 18a-7 (Prepared by the Securities-Based Swap Dealer Entity, With Appendix A)** MUFG Securities EMEA plc ("**MUSE**") (the "Company") is a registered security-based swap dealer subject to Rule 18a-7 promulgated by the Securities and Exchange Commission (17 CFR § 240.18a-7, "Reports to be made by certain security-based swap dealers and major security-based swap participants"). This Exemption Report was prepared as required by 17 CFR § 240.18a-7(c)(1) and (4). The Company claimed an exemption from 17 C.F.R. § 240.18a-4 under the provision of 17 C.F.R. § 240.18a-4(f). To the best of its knowledge and belief, the Company asserts the following: The Company met the conditions described within the Assertions column of Appendix A throughout the most recent fiscal year except as described below: - MUSE did not provide the notice required referenced in Exchange Act Rule 18a-4(f)(2) in writing to a duly authorized individual prior to the execution of the first non-cleared security-based swap transaction with the following non-U.S Persons: Mirae Asset Securities (HK) Limited (this exception occurred in July 2024) and Banco Santander S. A (this exception occurred in December 2024). - MUSE did not provide the disclosure in writing required pursuant to Exchange Act Rule 18a-4(f)(3) before engaging in the first non-cleared security-based swap transaction with the following non-U.S Persons: Mirae Asset Securities (HK) Limited (this exception occurred in July 2024) and Banco Santander S. A (this exception occurred in December 2024). {3}------------------------------------------------ ![](_page_3_Picture_1.jpeg) I, Antony Syson, swear (or affirm) that, to my best knowledge and belief, this Exemption Report is true and correct. By Name: Antony Syson Title Chief Financial Officer Date: 24 th April 2025 {4}------------------------------------------------ ![](_page_4_Picture_0.jpeg) ![](_page_4_Picture_1.jpeg) # **APPENDIX A** | Rule Reference | Assertions | |----------------------------|---------------------------------------------------------------------------------------------| | 17
FR § 240.18a-4(f)(1) | 1.
The security-based swap dealer
does not: | | | (i)
Effect
transactions
in
cleared
security-based | | | swaps for or
on behalf of another person; | | | (ii)
Have any open transactions in cleared | | | security-based swaps executed
for
or
on | | | behalf
of
another
person; and | | | (iii)Hold
or
control
any
money,
securities, or | | | other property to margin, guarantee, or | | | secure a cleared security-based swap | | | transaction executed for or on behalf of | | | another person (including
money,
securities, | | | or
other property accruing to another person | | | as
a
result
of
a
cleared
security-based swap | | | transaction); | | 17 CFR § 240.18a-4(f)(2) | 2. The security-based swap dealer
provided written
notice
to | | | a
duly
authorized
individual prior
to
the
execution
of
the
first | | | non-cleared security-based
swap
transaction
with
each | | | counterparty; and | | 17
FR § 240.18a-4(f)(3) | 3. The security-based swap dealer
disclosed in writing
to | | | each
counterparty
before
engaging
in the
first
non-cleared | | | security-based
swap
transaction with that counterparty that: | | | a.
any margin collateral received and held by the | | | security-based swap
dealer will not be subject to a | | | segregation requirement and | | | b. how a claim of a counterparty for the | | | collateral would be treated in a bankruptcy or other | | | formal liquidation proceeding of the security-based | | | swap dealer. | Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.