# REHMANN FINANCIAL NETWORK, LLC X-17A-5 (2020-03-02) — Broker-dealer annual report - Company: REHMANN FINANCIAL NETWORK, LLC - Form: X-17A-5 - Filed: 2020-03-02 - Period: 2019-12-31 - Accession: 0001633037-20-000002 - CIK: 1554729 - File #: 8-69134 - Material weakness: No - Auditor: Warren Averett, LLC - Auditor location: Atlanta, GA - Contact: Nicole Spitzley - Phone: 517-316-2438 - Signed by: Nicole Spitzley (Chief Compliance Officer) Original filing: https://www.sec.gov/Archives/edgar/data/1554729/000163303720000002/rfnauditsub2.pdf --- {0}------------------------------------------------ **UMTEDSTATES** SECURITIES AND EXCHANGE **COMMISSION Washington,** D.C. **20549** 0MB APPROVAL 0MB Number: 3235-0123 Expires: August 31, 2020 Estimated average burden hours rres nse ...... 12.00 **8-** SEC FILE NUMBER # **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** I 7a~5 **Thereunder** | REPORT FOR THE PERIOD BEG1NNINGQ1/Q1/2Q19 | | AND ENDING 12/31/2019 | | | |---------------------------------------------------------------------------|---------------------------------------------------------|-----------------------|--------------------------------|--| | | MM/DD/YY | | MMIDD/YY | | | | A. REGISTRANT IDENTIFICATION | | | | | NAME OF BROKER-DEALER: Rehmann Financial Network, LLC | | | OFFICIAL USE ONLY | | | ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use P.O. Box No.) | | | FIRM I.D. NO. | | | 4086 Legacy Parkway | | | | | | | (No. and Screet) | | | | | Lansing | Ml | | 48911 | | | (City) | (State) | | (Zip Code) | | | NAME AND TELEPHONE NUMBER OF PERSON TO CONTACT IN REGARD TO THIS REPORT | | | 517-388-0764 | | | | | | (Arca Code - Telephone Number) | | | | B. ACCOUNT ANT IDENTIFICATION | | | | | INDEPENDENT PUBLIC ACCOUNTANT whose opinion is contained in this Report• | | | | | | Warren Averett, LLC | | | | | | | (Na.mt: - if individual, state last.first, middle name) | | | | | 6 Concourse Parkway, Suite 600 Atlanta | | GA | 30328 | | | (Addre.ss) | (City) | (State) | (Zip Code) | | | CHECK ONE: | | | | | | !Y"!certified Public Accountant | | | | | | Public Accountant | | | | | | B
Accountant not res.ident 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 ba.~is for the exemption. See Section 140. l 7a-5(e)(2)* > **Potential persons who are to respond to the collectlon of information contained** in **this form are not required to respond** unless the form displays a currentlyvalld 0MB control number. {1}------------------------------------------------ #### OATH OR AFFIRMATION | of December 31
20 19 are true and correct. I further swear (or affirm) that
neither the company nor any partner, principal officer or director has any proprietary interest in any account
classified solely as that of a customer, except as follows:
MEGAN CALLAHAN
NOTARY PUBLIC - STATE OF MICHIGA
COUNTY OF CLINTON
Signature
ly Commission Expires 9/12/2022
In the County of Jurahar
Chief Compliance Officer | Rehmann Financial Network, LLC | my knowledge and belief the accompanying financial statement and supporting schedules pertaining to the firm of
. | |----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------------------|----------------------------------------------------------------------------------------------------------------------| | | | | | | | | | | | | | | | | | | | | Notary Public This report \*\* contains (check all applicable boxes): - (a) Facing Page. - 7 (b) Statement of Financial Condition. - (c) Statement of Income (Loss) or, if there is other comprehensive in the period(s) presented, a Statement of Comprehensive Income (as defined in §210.1-02 of Regulation S-X). - 7 (d) Statement of Changes in Financial Condition. - (e) Statement of Changes in Stockholders' Equity or Partners' or Sole Proprietors' Capital. - (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 Rule 15c3-3. - (i) Information Relating to the Possession or Control Requirements Under Rule 15c3-3. - (i) A Reconciliation, including appropriate explanation of Net Capital Under Rule 15c3-1 and the Computation for Determination of the Reserve Requirements Under Exhibit A of Rule 15c3-3. - (k) A Reconciliation between the audited Statements of Financial Condition with respect to methods of consolidation. - 7 (1) An Oath or Affirmation. - (m) A copy of the SIPC Supplemental Report. - (n) A report describing any material inadequacies found to existed since the date of the previous audit. \*\* For conditions of confidential treatment of certain portions of this filing, see section 240.17a-5(e)(3). {2}------------------------------------------------ # Rehmann Financial Network, LLC Year Ended December 31, 2019 Financial Statements and Supplemental Information ![](_page_2_Picture_3.jpeg) {3}------------------------------------------------ | TABLE OF CONTENTS
• | PAGE | |----------------------------------------------------------------------------------------------------------------------|------| | Report of Independent Registered Public Accountirng f'irm | | | Financial Statement for the Year Ended December 31, 2101'9 | | | Statement of Financial Condition | 2 | | Statement of Income | 3 | | Statement of Changes in Member's Equity | 4 | | Statement of Cash Rows | 5 | | Notes to Financial Statements | 6 | | Supplemental Information | | | Computation of Net Capital Pursuant to Rule 1 ScJ-1 of lthe Semrijtties
Exchange Act of 1934 (Schedule I) | 9 | | Other Information (Schedule II) | 10 | | Exemption Report SEA Rule 17a-5(d)(4) | 11 | | Report of Independent Registered Public Accountijng Firm
Review of the Exemption Report SEA Rule 17a-5(g}i(2)(ii} | 12 | {4}------------------------------------------------ ![](_page_4_Picture_0.jpeg) #### REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Member of Rehmann Financial Network, LLC #### Opinion on the Financial Statements We have audited the accompanying statement of financial condition of Rehmann Financial Network, LLC as of December 31, 2019, the related statements of income, 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 Rehmann Financial Network, LLC as of December 31, 2019, 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 Rehmann Financial Network, LLC's management. Our responsibility is to express an opinion on Rehmann Financial Network, 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 Rehmann Financial Network, 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. #### Auditor's Report on Supplemental Information The supplementary information contained in Schedule I, Computation of Net Capital Under Rule 15c3-1 and Schedule II, Other Information have been subjected to audit procedures performed in conjunction with the audit of Rehmann Financial Network, LLC's financial statements. The supplemental information is the responsibility of Rehmann Financial Network, 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 Rehmann Financial Network, LLC's auditor since 2014. Atlanta, GA February 27, 2020 {5}------------------------------------------------ # a Statement of Financial Condition December 31 , 2019 | Assets | | | |---------------------------------------------|----|---------| | Cash -
Chase | \$ | 512,432 | | Prepaid Expenses | | 24,840 | | Total Assets | s | 537,272 | | LiabHities and Member's Equity | | | | Liabilities | | | | Accounts Payable | s | 5,070 | | Accrued Payroll | | 9,868 | | Accounts Payable· Related Party | | 6,579 | | Total Liabrnties | | 21 ,517 | | Member's Equity | | | | Paid in Capital · Rehmann Financial Network | | 107,140 | | Net Income | | 408,615 | | Total Member's Equity | | 515,755 | | Total Liabilities and Member's Equity | s | 537,272 | {6}------------------------------------------------ #### • **Statement of Income** Year Ended December 31, 2019 | Income | | |----------------------------------|--------------| | 12B-1 Fees | s
684,857 | | Variable Annuities | 33,702 | | Fixed insurance income | 17,136 | | Total Net Fees | 735,695 | | Salaries | | | Payroll Expense | 45,732 | | Payroll Expense -
Advisors | 147,806 | | Payroll Taxes | 1,968 | | Total Salaries | 195,506 | | Personnel | | | 401 (k) Expense | 4M | | Group Insurance Benefits | 2,256 | | Professional Dues | 192 | | Professional Education | 612 | | Employee Relations | 408 | | Total Personnel | 3,912 | | Facilities | | | Rent | 4,032 | | Overhead Allocation | 3,564 | | Total Facilities | 7,596 | | Computer Facilities | | | Computer Software | 6,188 | | Computer Licenses | 33,643 | | Total Computer Facilities | 39,831 | | Other Operating Expenses | | | lns1.mmce | 3, 1)9 | | Subscription Publication Service | 2,744 | | License Fees | 33,667 | | Office Supplies and Expenses | 113 | | Telephone | 300 | | Professional Services | 38,436 | | Auto and Travel Expense | 1,836 | | Total Other Operating Expenses | 80,235 | | Total Expenses | 327,080 | | Net Income | s
408,615 | | | | {7}------------------------------------------------ | II
Statement of Changes in Member's Equity | | |-----------------------------------------------|---------------| | Year Ended December 31, 2019 | | | | | | Balance at December 31, 2018 | 373,119 | | Distributions | (265,979) | | Net Income | 408,615 | | Balance at December 31, 2019 | \$
515,755 | | | | {8}------------------------------------------------ | Statement of Cash Flows
• | | | |---------------------------------------------|----|-----------| | Year Ended December 31
, 2019 | | | | Cash from Operating Activities | | | | Net Income | 'S | 408,615 | | Adjustments to Reconcile Net Income to Net | | | | Cash Provided by Operating Activities | | | | Changes in Operating Assets and Liabilities | | | | Which Provided (Used) Cash | | | | Prepaid Expenses | | (3,564) | | Accounts Payable | | 4,692 | | Accrued Payroll | | 831 | | Accounts Payable -
Related Party | | (5,639) | | Net Cash Provided by Operating Activities | | 404,935 | | Cash Flows Used In Financing Activities | | | | Distributions | | (265,979) | | Net Cash Used In Fi
nancing Activities | | (265,979) | | Net Increase in Cash | | 138,956 | | Cash, Beginning of Year | | 373,476 | | Cash, End of Year | s | 512,432 | {9}------------------------------------------------ ### NOTES TO FINANCIAL STATEMENTS #### 1. DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES General Organization and Business: Rehmann Financial Network, LLC (the "Company") was incorporated in Michigan on July 9, 2012. The Company is a registered broker-dealer under the Securities Exchange Act of 1934. The Company is a wholly-owned subsidiary of Rehmann Financial Group, ("RFG") a Michigan LLC. The Company started operations on April 16, 2014. The Company previously engaged in limited securities business that maintains a commission sharing arrangement with another FINRA registered broker-dealer. The Company was an introducing broker and cleared trades through Royal Alliance Associates, Inc. As of January 18, 2018, the Company terminated the relationship with Royal Alliance. The Company engages in the sale of Mutual Funds and Variable Annuities via "subscription way" basis (aka "check and ap"). Mutual funds and variable annuities will be processed via third-party applications and checks or wires made out to the third-party fund company via a "subscription way basis". The Company does not hold customer funds or safekeep customer securities. The firm does not have a clearing agreement. Basis of Accounting: The Company prepares its financial statements on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America. Revenue Recognition: The Company earns revenue for distribution and related support services performed related to mutual and other funds, fixed and variable annuities and insurance products at a point-in-time. Depending on the product sold, the Company receives an upfront fee for services, a trailing commission, or some combination thereof. Upfront commissions received are generally based on a fixed rate applied, as a percentage, to amounts invested or the value of the contract at the time of sale and are recognized at the time of sale (or, in the case of insurance and annuity products, when the policy is accepted by the carrier). Trailing commissions are generally based on a fixed rate applied, as a percentage, to the net asset value of the fund, or the value of the insurance policy or annuity contract. Trailing commissions are generally received monthly or quarterly while our client holds the investment or holds the contract. As these trailing commissions are based on factors outside of our control, including market movements and client behavior (i.e., how long clients hold their investment, insurance policy or annuity contract), such revenue is recognized when it is probable that a significant reversal will not occur. Income Taxes: The Company's income or loss is reported on RFG's tax return. Accordingly, the financial statements do not include a provision for income taxes. Management does not believe there are any uncertain tax positions as defined by Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) 740 Accounting for Income Taxes. The Company could be subject to income tax examinations for its U.S. Federal and state tax filings for tax years 2015 to 2018, which are still open under the statute of limitations. Use of Estimates: The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates. {10}------------------------------------------------ #### NOTES TO FINANCIAL STATEMENTS Cash: As of December 31, 2019, the Company did not hold any cash equivalents. The Company maintains balances with banks in excess of federally insured limits. Management believes the exposure to loss from such balances to be minimal. As of December 31, 2019, the Company's uninsured cash balance was approximately \$260,000. Fair Value of Financial Instruments: The Company estimates that the fair value of any financial instruments recognized on the statement of financial condition approximates their carrying value, as such financial instruments are short term in nature. Other assets and liabilities with short and intermediate-term maturities and defined settlement amounts, including receivables, payables and accrued expenses are reported at their contractual amounts, with approximate fair value. Recent Accounting Pronouncements: In May 2014, the FASB issued Accounting Standards Update (ASU") No. 2014-09, "Revenue from Contracts with Customers (Topic 606)," which outlined a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and superseded most current revenue recognition guidance, including industry-specific guidance. The ASU also required expanded disclosures relating to the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. The Company adopted the new standard on January 1, 2018, with no material impact to the financial statements. On August 28, 2018, the FASB issued ASU Update 2018-13, Fair Yalue Measurement (Topic 820) Disclosure Framework-Changes to the disclosure Requirements for Fair Value Measurement. The amendments in ASU 2018-13 apply to all entities that are required, under existing U.S. generally accepted accounting principles (U.S. GAAP), to make disclosures about recurring or nonrecurring fair value measurements. The amendments in ASU 2018-13 are effective for all entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. Subsequent Events: The Company has evaluated events and transactions that occurred between December 31, 2019 and February 27, 2020 which is the financial statements were issued, for possible recognition or disclosure in the financial statements. #### 2. NET CAPITAL REQUIREMENT The Company, as a registered broker-dealer in securities, is subject to the Securities and Exchange Commission Uniform Net Capital Rule (Rule 15c3-1). The Company has elected to operate under that portion of the Rule which requires that the Company maintain "net capital" equal to the greater of \$5,000 or 6 2/3% of "aggregate indebtedness," as those terms are defined in the Rule. Schedule I is included in the Supplemental Information of this report. Net capital and aggregate indebtedness changes from day-to-day, but as of December 31, 2019, the Company had net capital of \$490,915, which exceeded the minimum net capital requirement of \$5,000 by \$485,915. The Company's ratio of aggregate indebtedness to net capital was 0.438 to 1. {11}------------------------------------------------ ## • **NOTES TO FINANCIAL STATEMENTS** #### **3. RELATED PARTY TRANSACTIONS** The Company is a member of a group of affiliated companies and has material transactions and relationships with members of the group. Due to these relationships, it is possible that the terms of these transactions are not the same as those that would result among unrelated parties. #### (a) Transactions with RFG RFG pays substantially all the accounts payable and payroll on behalf of the Company and RFG is reimbursed on a routine basis. RFG also provides general overhead services to the Company, such as (but not limited to) the cost of processing centralized accounts payable and payroll, as well as accounting and financial planning services which are charged by RFG. At December 31, 2019, the net amount of cash owed by the Company to RFG was \$6,579 and is included in accounts payable - related party on the statement of financial condition. #### **4. DEFINED CONTRIBUTION PLAN** Defined Contribution Plan: The Rehmann, LLC 401 (k) Plan covers substantially all employees of the Company. Rehmann matches 30% of each participant's contributions not in excess of 10% of their compensation for each pay period. {12}------------------------------------------------ SUPPLEMENTAL INFORMATION {13}------------------------------------------------ # • **Computation of Net Capital to Rule 15c3~1 (Schedule** I) December 31, 2019 | Computation of Net Capital | | | |------------------------------------------------------------------|---|----------| | Total member's equity | s | 515,755 | | Deduct non-allowable assets | | (24,840) | | Net capital | | 490,915 | | Computation of Aggregate Indebtedness | | | | Total aggregate indebtedness | s | 21,517 | | Computation of Minimum Net Capital Requirement | | | | Net capital | s | 490,915 | | Minimum net capital to be maintained | | | | (greater of \$5,000 or 6 2/3% of total aggregate indebted111ess) | | 5,000 | | Net capital in excess of requirement | | 485,915 | | Percentage of aggregate indebtedness to net capital | | 4.38% | There is no significant difference between net capital as collilplllted lby ltlhe Compa111y on its corresponding unaudited Form X-17A-5 as of December 31, 2019 as filed and ltlhe audited finarncial stat ements at December 31,2019. See accompanying report of independe1111t r,egist ered 1PUJbllic ac,co,u111ti ng firm. {14}------------------------------------------------ # Other Information - (Schedule II) December 31, 2019 ## A) COMPUTATION FOR DETERMINATION OF RESERVE REQUIREMENTS UNDER RULE 15c3-3 OF THE SECURITIES AND EXCHANGE COMMISSION AS OF DECEMBER 31, 2019 The Company is exempt from the provisions of Rule 15c3-3 under the Securities Exchange Act of 1934, pursuant to paragraph (k)(2)(i) of the rule. B) INFORMATION RELATING TO THE POSSESSION OR CONTROL REQUIREMENTS UNDER RULE 15c3-3 OF THE SECURITIES AND EXCHANGE COMMISSION AS OF DECEMBER 31, 2019 The Company is exempt from the provisions of Rule 15c3-3 under the Securities Exchange Act of 1934, pursuant to paragraph (k)(2)(i) of the rule. C) STATEMENT OF CHANGES IN LIABILITIES SUBORDINATED TO CLAIMS OF GENERAL CREDITORS AS OF DECEMBER 31, 2019 The statement of changes in liabilities subordinated to claims of general creditors has been omitted since Rehmann Financial Network, LLC had no such liabilities outstanding at the year, during the year or at year end. {15}------------------------------------------------ ![](_page_15_Picture_0.jpeg) k'hu:ran,111 **!Financial** 4086 Legacy Parkway Lansing, MI 48911 ,Ph: 5l1.316.2400 Fx; '5t7J316.2401 r,e'hmnarm.com ## EXEMlP'fION ## SEA RULE 17 A-5(d)(4) February 27, 2020 Warren Averett Six Concourse Parkway Suite 600 Atlanta, GA 30338 To Whom It May Concern: The below information is designed to meet the Exemption &eiport criteria pursuant to SEA Rule l 7a-5(d)(4): Rehmann Financial Network is a broker/dealer !feg;isteJied with the SEC anrl JFJNRA. Pursuant to paragraph k(2)(i) of SEA Rule 15ic3-3., the Company is daiiming an exemption from SEA Rule 15c-3-3 for the fis,cal year ended December 3'1 , 2019. The Company has met the identified exemption provisions thmughm.11 ithe most recent fiscal year without exemption. The above statement is true and correct to the !best ofmy m1d tb,e Company's !knowledge. Signed: Name: Nicole Spitzley Title: Chief Compliance Officer ![](_page_15_Picture_17.jpeg) {16}------------------------------------------------ ![](_page_16_Picture_0.jpeg) #### REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Member of Rehmann Financial Network, LLC We have reviewed management's statements, included in the accompanying Rehmann Financial Network, LLC, Exemption Report, in which (1) Rehmann Financial Network, LLC identified the following provisions of 17 C.F.R. §15c3-3(k) under which Rehmann Financial Network, LLC claimed an exemption from 17 C.F.R. §240.15c3-3: (2)(i) (the "exemption provision") and (2) Rehmann Financial Network, LLC stated that Rehmann Financial Network, LLC met the identified exemption provisions throughout the most recent fiscal year without exception. Rehmann Financial Network, LLC's management is responsible for compliance with the exemption provisions 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 Rehmann Financial Network, LLC's compliance with the exemption provisions. 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 paragraph (k)(2)(i) of Rule 15c3-3 under the Securities Exchange Act of 1934. Atlanta, GA February 27, 2020 {17}------------------------------------------------ | (36-REV 12/18) | 202-371-8300
General Assessment Reconcillation | | | |------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------------| | | For the fiscal year ended 12/31/2019
(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: | | (36-REV 12/18 | | ATTN: NICOLE | 1D -10 -10 -8 22 1973 42 - 19 - 3 42 - 10 - 10 - 10 - 10 - 10 - 10 - 10 - 10 - 10 - 10 - 10 - 10 - 10 - 10 - 10 - 10 - 10 - 10 - 10 - 10 - 10 - 10 - 10 - 10 - 10 - 10 - 10 -
ALL AADC 229
69134 FINRA DEC
REHMANN FINANCIAL NEWWORK LLC
4066 LEGACY PKWY
LANSING, MI 48911-4261 | 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.
Name and telephone numbar of person to
contact respecting this form. | | | | 2. A. General Assessment (item 2e from page 2)
B. Less payment made with SIPC-6 filed (exclude interest) | | 82.00
455.02 | | Date Paid
C. Less prior overpayment applied | | | | | | D. Assessment balance due or (overpayment) | | 00 | | | E. Interest computed on late payment (see instruction E) for _________________________________________________________________________________________________________________ | | | | | F. Total assessment balance and interest due (or overpayment carried torward) | 421.00 | | | G. PAYMENT: V the box | Check mailed to P.O. Box = Funds Wired D
Total (must be same as F above) | 427.00 | | | H. Overpayment carried forward | Si | | | | | 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 | nancial Alatinar | | that all information contained herein is true, correct and complete. \_day of February, 2020 Dated the Fermann nandae were were in (Name of Corp: ration, Partnershi or other organization) 1 60 € (Authorized Signal- rel of Compliance office This form and the assessment payment is due 60 days after the end of the Working Copy of this form for a period of not less than 6 years in an easily accessible place. | Dates: | | | | | |----------------------------------|-------------------------------|----------|---------------|--------------| | E M | Postmarked | Received | Reviewed | | | Calculations ___ How Exceptions; | | | Documentation | Forward Copy | | | | | | | | | 22 Disnosition of exceptions: | | | | {18}------------------------------------------------ ## DETERMINATION OF "SIPC NET OPERATING REVENUES" AND GENERAL ASSESSMENT Amounts for the fiscal period beginning 1/1/2019 and ending 12/31/2019 | | ann punning 150117012 | |----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------------------------| | Item No.
22 Total Tevenye (FOON) Lune 720 an HA ) 10 a Coor 1030) | Eliminate cents
755.109 | | 20 AGGINDAS
(1) Tolal Jevenville Sollarines Sespession Suisidianas (except foreign summing) until
predecassors not included above. | | | (2) Net loss from promotions in the volves in I provides in I accounts. | | | (3) Net loss von principal ( zimaghene in commodities in tacing acquinfi | | | (4) Interest and dividend expense deducted in determining item 2a. | | | (5) Net loss from management of or participalion in the underwriting or cistribution of securities | | | (6) Expenses other than advertising, printing, registration least least the dellecting to
profit trom management of or participalion in underwriting or distribulion of securities. | | | (7) Net loss from securities in investment accounts. | | | (四) 四川市 四川 | | | 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 in insurance company for all
accounts, and from transactions in security futures products. | | | 2 Revenues from commodily transactions. | | | (3) Cempessions, Illner printering pall to other SIPC members in connection will
SHII 58205 ZUZ20 ZUZ20 LTS | #147,806 | | (4) Reimbersements for postage in Conner Lan With plans and a flar. | | | 5) Net gain from securities in investment accounts | | | (6) 00% D) Commercials and minutes earning time lines of the Centrely and
(1) Treasury mile bankers as apparties of commercial paper that manne nine mondte of less
(00) 23 (2012 10:22 (1) 10.0 | | | ( Durch Capital a purfine and legel to and legel received in connection with other lovenus
che di lite securities bills been (EVERIE diffinid by Section 16(9)(L) of the Act). | | | (1) (1)(1) (2)(1) (1) (1) (1) (1) (1) (1) (1) (1) (1) (1) (1) (4) (1) (1) (1) +6 ) (1) (1) +6 (1) (1) (1) +6 (1) (1) (1)
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all mode 1405 00 a DC DC He = Dires 1080 | | | EMAI THE EFECTRICAL OF FOR HI TELEVISED TO | | | 17131 49 07 110 17 | | | VI Operating Revenues | | 11 8 metal has spiell @ 101E 2 1 ilo page 1, line 2.A.) Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.