# EQT PARTNERS BD LLC X-17A-5 (2020-02-13) — Broker-dealer annual report - Company: EQT PARTNERS BD LLC - Form: X-17A-5 - Filed: 2020-02-13 - Period: 2019-12-31 - Accession: 0001654662-20-000001 - CIK: 1654662 - File #: 8-69685 - Material weakness: No - Auditor: WithumSmith & Brown, PC - Auditor location: Whippany, NJ - Contact: Michael Stupay - Phone: 212-509-7800 - Signed by: Darlene Sammon (CEO) Original filing: https://www.sec.gov/Archives/edgar/data/1654662/000165466220000001/eqt19s3.pdf --- {0}------------------------------------------------ # **EQT Partners BD LLC** (A wholly owned subsidiary of EQT Partners Inc.) Statement of Financial Condition Pursuant to Rule 17a-5 under the Securities Exchange Act of 1934 December 31, 2019 {1}------------------------------------------------ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 0MB APPROVAL 0MB Number: 3235-0123 Expires: August 31, 2020 Estimated average burden hours per response ... 12.00 8-69685 SEC FILE NUMBER # **ANNUAL AUDITED REPORT FORM X-17A-5 PARTID** #### **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 | 0;;;;1;; | /0'"""'"l.;;
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MM/DD/YY | AND ENDING | 12/31/19
MM/DD/YY | | | A. REGISTRANT IDENTIFICATION | | | | | NAME OF BROKER ~ DEALER: | | | | | | EQT Partners BO LLC | | | | OFFICIAL USE ONLY | | ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use P.O. Box No.) | | | | FlRMID. NO. | | | 1114 A venue of the Americas 401 | h Floor | | | | | (No. and Street) | | | | | New York | NY | | | 10036 | | (City) | (State) | | | (Zip Code) | | NAME AND TELEPHONE NUMBER OF PERSON TO CONTACT IN REGARD TO TIDS REPORT | | | | | | Michael Stupay | | | | (212) 509-7800 | | | | | | Telephone No.)
(Area Code - | | | B. ACCOUNTANT IDENTIFICATION | | | | | INDEPENDENT PUBLIC ACCOUNT ANT whose opinion is contained in this Report* | | | | | | | | | | | | | WithumSmith+Brown PC
(Name - if individual, state last, first, middle name) | | | | | | | | | | | 200 Jefferson Park, Suite 400
(Address) | Whippany
(City) | | NJ
(State) | 07981
(Zip Code) | | | | | | | | CHECK ONE: | | | | | | ~ Certified Public Accountant | | | | | | D
Public Accountant | | | | | | D
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. I 7a-5(e)(2).SEC* 1410 (3-91) {2}------------------------------------------------ # **EQT Partners BD LLC (A wholly owned subsidiary of EQT Partners Inc.) TABLE OF CONTENTS** # **This report\*\* contains (check all applicable boxes):** - [x] Report of Independent Registered Public Accounting Firm - [x] Facing Page. - [x] Statement of Financial Condjtion. - [ ] Statement of Operations. - [ ] Statement of Changes in Member's Equity. - [ ] Statement of Cash Flows. - [ ] Statement of Changes in Liabilities Subordinated to Claims of General Creditors (not applicable). - [ ] Computation of Net Capital for Brokers and Dealers Pursuant to Rule I5c3-l under the Securities Exchange Act of 1934. - [ ] Computation for Determination of Reserve Requirements for Brokers and Dealers Pursuant to Rule 15c3~3 under the Securities Exchange Act of 1934. - [ ] Information Relating to the Possession or Control Requirements for Brokers and Dealers Pursuant to Rule 15c3-3 under the Securities Exchange Act of 1934 (not # applicable). - [ ] A Reconciliation, including appropriate explanations, of the Computation of Net Capital Pursuant to Rule 15c3-1 (included with item (g)) and the Computation for Determination of Reserve Requirements Under Rule 15c3-3 (included in item (g)). - [ ] A Reconciliation Between the Audited and Unaudited Statements of Financial Condition With Respect to Methods of Consolidation (not applicable). - [x] An Affinnation. - [ ] A copy of the S[PC Supplemental Report. - [ ] A report describing any material inadequacies found to eJdst or found to have existed since the date of the previous audit (Supplemental Report on Internal Control). - [ ] Independent Auditors' Report Regarding Rule 15c3-3 exemption - [ ] **Rule** I5c3-3 Exemption Report - \*\* *For conditions of conjiden tta I treatment of certain portions of th is filing, see section 2 40.17 a-5 (e}(3).* {3}------------------------------------------------ #### **AFFIRMATION** I, Darlene Sammon, affirm that, to the best of my knowledge and belief, the accompanying statement of financial condition pertaining to EQT Partners BD LLC at December 31, 2019, is true and correct. I further affirm that neither the Company nor any officer or director has any proprietary interest in any account classified solely as that of a customer. CEO Title Subscribed and sworn d§]&?--- 1z.,/ /{ *12))* 2,{) .BROOKE CASEY ROSENFELD NOTARY PUBLIC-STATE OF NEW YORK No. 01 A06323630 Qualified in New York County My Commission Expires 04-20-2023 {4}------------------------------------------------ ![](_page_4_Picture_0.jpeg) # **REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM** To the Member of EQT Partners BD LLC #### **Opinion on the Financial Statement** We have audited the accompanying statement of financial condition of EQT Partners SD LLC (the "Company"), as of December 31 , 2019 and the related notes (collectively referred to as the "financial statement"). In our opinion, the financial statement presents fairly, in all material respects, the financial position of the Company as of December 31 , 2019, in conformity with accounting principles generally accepted in the United States of America. #### **Basis for Opinion** This financial statement is the responsibility of the Company's management. Our responsibility is to express an opinion on this financial statement 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 statement is 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 statement, 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 statement. 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 statement. We believe that our audit provides a reasonable basis for our opinion. We have served as the Company's auditor since 2016. February 6, 2020 {5}------------------------------------------------ # **EQT Partners BD LLC** **(A wholly owned subsidiary of** EQT **Partners Inc.)** # **Statement of Financial Condition December 31, 2019** | Assets | | |---------------------------------------|--------------| | Cash | \$
58,546 | | Prepaid expenses | 16,284 | | Total assets | \$
74,830 | | Liabilities and M
ember's Equity | | | Liabilities: | | | Accounts payable and accrued expenses | \$
24,000 | | Due to Parent | 2,360 | | Total liabilities | 26,360 | | Member's equity | 48,470 | | Total liabilities and member's equity | \$
74,830 | The accompanying notes are an integral part of these financial statements. {6}------------------------------------------------ # **EQT Partners BD LLC (A wholly owned subsidiary of** EQT **Partners Inc.)** # **Notes to Financial Statement December 31, 2019** ## **1. Organization and Business** EQT Partners BD LLC (the "Company"), a wholly owned subsidiary of EQT Partners Inc. (the "Parent"), is a limited liability company and was fonned under the laws of Delaware on July 22, 2015. The Company is a broker-dealer, registered with the Securities and Exchange Commission (the "SEC") and is a member of the Financial Industry Regulatory Authority ("FINRA"). The primary business of the Company is to act as a broker-dealer engaging in private placements of securities. All issuers of the private placements are affiliated entities. ## **2. Summary of Significant Accounting Policies** ## **Basis of Presentation** These financial statements were prepared in conformity with accounting principles generally accepted in the United States of America which requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. #### **Revenue** The Company does not receive any compensation from the related party issuers for fund raising activities. # **Cash** All cash deposits are held by one financial institution and therefore are subject to the credit risk at that financial institution. The Company has not experienced any losses in such accounts and does not believe there to be any significant credit risk with respect to these deposits. #### **Income Taxes** The Company is a single member limited liability company, and is treated as a disregarded entity for federal income tax reporting purposes. The Internal Revenue Code ("IRC") provides that any income or loss is passed through to the ultimate beneficial individual member for federal, state and certain local income taxes. The Company has no tax sharing arrangement with the Parent and accordingly has no commitment to fund or receive amounts for any tax liabilities or benefits with earnings of the Company. Accordingly, the Company has not provided for federal and state income taxes. At December 31, 2019, management has determined that the Company had no uncertain tax positions that would require financial statement recognition. This determination will be subject to ongoing reevaluation as facts and circumstances may require. Interest and penalties assessed, if any, are recorded as income tax expense. {7}------------------------------------------------ # **Notes to Financial Statement December 31, 2019** # **3. Transactions with Related Parties** The Company is not likely to ever generate revenue and accordingly, will be dependent on its access to funding from the Parent. The Parent intends to continue to fund the operational and regulatory needs of the Company for the foreseeable future. The Company maintains an intercompany services agreement (the "Expense Sharing Agreement") with the Parent, whereby the Parent will provide accounting, administrative, office space, human resources and other services at no cost to the Company. During the year ended December 3 1, 2019, the Company reimbursed the Parent for expenses paid by the Parent on behalf of the Company. An additional \$2,360 of expenses were paid by the Parent on behalf of the Company that remain unreimbursed at December 31, 2019. The terms of these arrangements may not be the same as those that would otherwise exist or result from agreements and transactions among unrelated parties. # **4. Regulatory Requirements** The Company is subject to SEC Uniform Net Capital Rule 15c3-l under the Securities Exchange Act of 1934, 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. At December 3 I, 2019, the Company had net capital of \$32,186 which exceeded the required net capital of \$5,000 by \$27,186. The Company does not hold customers' cash or securities and, therefore, has no obligations under SEC Rule 15c3-3 under the Securities Exchange Act of 1934. # **5. Subsequent Events** Management of the Company has evaluated events or transactions that may have occurred since December 31, 2019. The Company received a capital contribution of \$25,000 on January 6, 2020. Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.