# PUENTE SERVICIOS FINANCIEROS LLC X-17A-5 (2026-04-07) — Broker-dealer annual report

- Company: PUENTE SERVICIOS FINANCIEROS LLC
- Form: X-17A-5
- Filed: 2026-04-07
- Period: 2025-12-31
- Accession: 0001788324-26-000003
- CIK: 1788324
- File #: 8-70412
- Type: Broker-dealer
- Material weakness: No
- Auditor: Alperin, Nebbia, & Associates, CPA, PA
- Auditor location: Fairfield, NJ
- Contact: STEVEN SINGER
- Phone: 5617848922
- Email: ssinger@puentenet-usa.com
- Website: puentenet-usa.com
- Signed by: GUILLERMO QUIROGA (CEO)

Original filing: https://www.sec.gov/Archives/edgar/data/1788324/000178832426000003/puentepublic2025.pdf

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Puente Servicios Financieros LLC Statement of Financial Condition December 31, 2025

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## UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549

OMB APPROVAL OMB Number: 3235-0123 Expires: Nov. 30, 2026 Estimated average burden hours per response: 12

## ANNUAL REPORTS FORM X-17A-5 PART III

sec file number 8-70412

|                                                                                                                                     | FACING PAGE<br>Information Required Pursuant to Rules 17a-5, 17a-12, and 18a-7 under the Securities Exchange Act of 1934 |                 |                                            |
|-------------------------------------------------------------------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------|-----------------|--------------------------------------------|
|                                                                                                                                     | 01/01/2025                                                                                                               |                 | 12/31/2025                                 |
| FILING FOR THE PERIOD BEGINNING                                                                                                     | MM/DD/YY                                                                                                                 | AND ENDING      | MM/DD/YY                                   |
|                                                                                                                                     | A. REGISTRANT IDENTIFICATION                                                                                             |                 |                                            |
| NAME OF FIRM·                                                                                                                       | Puente Servicios Financieros LLC                                                                                         |                 |                                            |
| TYPE OF REGISTRANT (check all applicable boxes):<br>l Broker-dealer<br>□ Check here if respondent is also an OTC derivatives dealer |                                                                                                                          |                 |                                            |
| ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use a P.O. box no.)                                                                 |                                                                                                                          |                 |                                            |
| 801 Brickell Avenue, Suite 2010                                                                                                     |                                                                                                                          |                 |                                            |
|                                                                                                                                     | (No. and Street)                                                                                                         |                 |                                            |
| Miami                                                                                                                               | ﻠ                                                                                                                        |                 | 33131                                      |
| (City)                                                                                                                              | (State)                                                                                                                  |                 | (Zip Code)                                 |
| PERSON TO CONTACT WITH REGARD TO THIS FILING                                                                                        |                                                                                                                          |                 |                                            |
| Steven Singer                                                                                                                       | 561-784-8922                                                                                                             |                 | ssinger@puentenet-usa.com                  |
| (Name)                                                                                                                              | (Area Code - Telephone Number)                                                                                           |                 | (Email Address)                            |
|                                                                                                                                     | B. Accountant Identification                                                                                             |                 |                                            |
| INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing*<br>Alperin Nebbia & Associates, CPA, PA                   |                                                                                                                          |                 |                                            |
|                                                                                                                                     | (Name - if individual, state last, first, and middle name)                                                               |                 |                                            |
| 375 Passaic Avenue, Suite 200    Fairfield                                                                                          |                                                                                                                          | NJ              | 07004                                      |
| (Address)<br>02/24/2009                                                                                                             | (City)                                                                                                                   | (State)<br>3397 | (Zip Code)                                 |
| (Date of Registration with PCAOB)(if applicable)                                                                                    |                                                                                                                          |                 | (PCAOB Registration Number, if applicable) |
|                                                                                                                                     | FOR OFFICIAL USE ONLY                                                                                                    |                 |                                            |

\* Claims for exemption from the requirement that the annual 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-5(e)(1)(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 OMB control number.

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## OATH OR AFFIRMATION

| Guillermo Quiroga                                                           | swear (or affirm) that, to the best of my knowledge and belief, the                                                                 |  |
|-----------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------|--|
| tinancial report pertaining to the firm of Puente Servicios Financieros LLC | as of                                                                                                                               |  |
| 12/31                                                                       | 2 025                                                                                                                               |  |
|                                                                             | partner, officer, director, or equivalent person, as the case may be, has any proprietary interest in any account classified solely |  |

Signature

Title: CFO

Notary Public

as that of a customer.

## This filing\*\* contains (check all applicable boxes):

- (a) Statement of financial condition.
- = (b) Notes to consolidated statement of financial condition.
- □ (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).
- □ (d) Statement of cash flows.
- □ (e) Statement of changes in stockholders' or partners' or sole proprietor's equity.
- \_ (f) Statement of changes in liabilities subordinated to claims of creditors.
- □ (g) Notes to consolidated financial statements.
- □ (h) Computation of net capital under 17 CFR 240.15c3-1 or 17 CFR 240.18a-1, as applicable.
- □ (i) Computation of tangible net worth under 17 CFR 240.18a-2.
- □ (j) Computation for determination of customer reserve requirements pursuant to Exhibit A to 17 CFR 240.15c3-3.
- □ (k) Computation for determination of security-based swap reserve requirements pursuant to Exhibit B to 17 CFR 240.15c3-3 or Exhibit A to 17 CFR 240.18a-4, as applicable.
- □ (I) Computation for Determination of PAB Requirements under Exhibit A to § 240.15c3-3.
- □ (m) Information relating to possession or control requirements for customers under 17 CFR 240.15c3-3.
- □ (n) Information relating to possession or control requirements for security-based swap customers under 17 CFR 240.15c3-3(p)(2) or 17 CFR 240.18a-4, as applicable.
- □ (o) Reconciliations, including apropriate explanations, of the FOCUS Report with computation of net capible net worth under 17 CFR 240.15c3-1, 17 CFR 240.18a-2, as applicable, and the reserve requirements under 17 CFR 240.15c3-3 or 17 CFR 240.18a-4, as applicable, if material differences exist, or a statement that no material differences exist.
- □ (p) Summary of financial data for subsidiaries not consolidated in the statement of financial condition.
- (q) Oath or affirmation in accordance with 17 CFR 240.17a-5, 17 CFR 240.18a-7, as applicable.
- |
- □ (s) Exemption report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable.
- |
- □ (u) Independent public accountant's report based on an examination of the financial statements under 17 CFR 240.17a-5, 17 CFR 240.18a-7, or 17 CFR 240.17a-12, as applicable.
- □ (v) Independent public accountant's report based on an examination of certain statements in the compliance report under 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable.
- □ (w) Independent public accountant's report based on a review of the exemption report under 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable.
- | as applicable.
- \_ (y) Report describing any material inadequacies found to have existed since the date of the previous audit, or a statement that no material inadequacies exist, under 17 CFR 240.17a-12(k).
- □ (z) Other:
- \*\*To request confidential treatment of certain portions of this filing, see 17 CFR 240.17a-5(e)(2), as applicable.

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| CONTENTS |  |  |
|----------|--|--|
|          |  |  |

| P<br>age |
|----------|
|----------|

| REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM |        |
|---------------------------------------------------------|--------|
| FINANCIAL STATEMENT                                     |        |
| Statement of Financial Condition                        |        |
| Notes to Statement of Financial Condition               | 3 - 12 |

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![](_page_4_Picture_0.jpeg)

375 Passaic Avenue Suite 200 Fairfield, NJ 07004 973-808-8801 Fax 973-808-8804

## Report of Independent Registered Public Accounting Firm

To the Member of Puente Servicios Financieros, LLC

### Opinion on the Financial Statement

We have audited the accompanying statement of financial condition of Puente Servicios Financieros, LLC (the "Company") as of December 31, 2025, and the related notes and schedules (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, 2025, 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 also included assessing 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 of the financial statement provides a reasonable basis for our opinion.

We have served as the Company's auditor since 2025.

Alperin, Nebbia & Associates, CPA, PA

Fairfield, New Jersey March 27, 2026

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### PUENTE SERVICIOS FINANCIEROS LLC NOTES TO STATEMENT OF FINANCIAL CONDITION

AS OF DECEMBER 31, 2025

### NOTE 1. ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

## Leases (continued)

## Accounting Policy Election for Short-Term Leases

The Company has elected, for all underlying classes of assets, to not recognize ROU assets and lease liabilities for short-term leases that have a lease term of 12 months or less at lease commencement, and do not include an option to purchase the underlying asset that the Company is reasonably certain to exercise. The Company recognizes lease cost associated with its short-term leases on a straightline basis over the lease term.

## Credit Losses

Financial Accounting Standards Board (FASB) ASC 326-20, Financial Instruments - Credit losses requires the immediate recognition of management's estimates of current expected credit losses.

The Company has evaluated the impact of ASC 326-20, specifically as it relates to receivables from its clearing broker and due from affiliates. The Company's receivables from its clearing broker include amounts receivable from unsettled trades, including amounts related to accrued interest receivables and cash deposits. The Company's trades are cleared through its clearing broker and settled daily between the clearing broker and the Company. Because of this daily settlement, the amount of unsettled credit exposure is limited to the amount owed the Company for a very short period of time. The Company's receivable from affiliate for sub-clearing services is typically received in the month following services provided. All of these receivables were paid in full as of the date this financial statement was issued. The Company continually reviews the credit quality of its counterparties.

No allowance for credit losses on any receivables was deemed necessary by management as of December 31, 2025.

## Defined Contribution Plan

The Company sponsors a 401(k)-plan covering substantially all employees of the Company (the Plan). The Plan provides for an employer safe harbor matching contribution in accordance with the Plan. Plan matching contributions payable at December 31, 2025 were \$2,155.

## Income Taxes

The Company has elected to be treated as a corporation for income tax purposes. Accordingly, the Company accounts for income taxes under the asset and liability method. Under this method, deferred tax assets and liabilities are determined based on the differences between the financial accounting carrying values and the income tax bases of assets and liabilities using enacted income tax rates in effect for the year in which the differences are expected to reverse. Valuation allowances are established when the Company does not believe it is more likely than not that it will generate a sufficient level of taxable income to utilize the deferred tax asset.

The Company recognizes a tax benefit associated with an uncertain tax position when, in management's judgment, it is more likely than not that the position will be sustained upon examination by a taxing authority. For a tax position that meets the more-likely-than-not recognition threshold, the Company initially and subsequently measures the tax benefit as the largest amount that is judged to have a greater than 50% likelihood of being realized upon ultimate settlement with the taxing authority.

{9}------------------------------------------------

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{10}------------------------------------------------

## NOTE 1. ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

## Revenue Recognition

The Company recognizes revenue in accordance with ASC 606, Revenue from Contracts with Customers. All revenues are recorded in accordance with ASC 606 when: (i) a contract with a customer has been identified, (ii) the performance obligation in the contract has been identified, (iii) the transaction price has been determined, (iv) the transaction price has been allocated to each performance obligation in the contract, (v) the Company has satisfied the applicable performance obligations.

## Commissions and riskless principal transactions

The Company buys and sells securities on behalf of its customers. Each time a customer enters into a buy or sell transaction, the Company charges a commission or sales credit on riskless principal transactions. Commissions, sales credits, and related clearing expenses are recorded on the trade date (the date the Company fills the trade order by finding and contracting with a counterparty and confirms the trade with the customer). The Company believes that the performance obligation is satisfied on the trade date because that is when the underlying financial instrument or purchase is identified, the pricing is agreed upon and the risks and rewards of ownership have been transferred to/from the customer.

## Mutual fund. 12B-1 and distribution fees

The Company enters into arrangements with mutual fund companies (funds) to distribute (sell) shares to investors. The Company may receive distribution fees paid by the fund up front, over time, upon the investor's exit from the fund (that is, a contingent deferred sales charge), or as a combination thereof. The Company believes that its performance obligation is the sale of securities to investors and as such this is fulfilled on the trade date. Any fixed amounts are recognized on the trade date and variable amounts are recognized to the extent it is probable that a significant revenue reversal will not occur once the uncertainty is resolved. For variable amounts, as the uncertainty is dependent on the value of the shares at future points in time as well as the length of time the investor remains in the fund, both of which are highly susceptible to factors outside the Company's influence, the Company does not believe that it can overcome this constraint until the market value of the fund and the investor activities are known, which are usually monthly or quarterly. Distribution fees recognized in the current period are primarily related to performance obligations that have been satisfied in prior periods.

## Sub-clearing fees

The Company earns all of its sub-clearing fees through an introducing broker agreement with an affiliate (see Note 8), for its clearing broker, through a tri-party agreement, providing the affiliate with clearing, execution and related services. The Company believes that its performance obligation occurs on the trade date that the clearing firm provides services to the affiliate.

{11}------------------------------------------------

## NOTE 1. ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

## Administrative fees

The Company earns administration fees for providing various customer account related services. The performance obligations within are satisfied over time because the customer is receiving and consuming the benefits as they are provided by the Company. The Company charges customers a flat fee based on the account value as of the end of each quarter. As such, the consideration for this revenue is variable and an estimate of the variable consideration is constrained due to dependence on unpredictable market movements. Revenues are recognized and accrued when the constraint has been removed.

## Segment Reporting

The Company has one reportable segment: Brokerage, which generates revenue from customers by charging fees, commissions, and other income for the services it provides to its customers. Such revenue streams are further described earlier in this footnote disclosure under the Revenue Recognition caption. In connection with this, the Company has identified the Chief Executive Officer as the CODM, who uses net income to evaluate the results of the business and how to allocate resources based on net income in managing the operations of the Company. Additionally the CODM may also use excess net capital, which is not a measure of profit and loss, to make operational decisions while maintaining capital adequacy to meet the Company's regulatory requirements, such as whether to reinvest profits or declare dividends to the Parent. The measurement of segment income, expenses, and net income (loss) reviewed by the CODM is reported in the accompanying statement of income. The measurement of segment assets and liabilities are reported in the accompanying statement of financial condition as total assets and total liabilities. The Company's operations constitute a single operating segment and therefore, a single reportable segment, because the CODM manages the business activities using information of the Company as a whole.

## NOTE 2. NET CAPITAL REQUIREMENTS

As a registered broker-dealer, the Company is subject to the Uniform Net Capital Rule of the Securities and Exchange Commission, which requires that "Net Capital", as defined, shall be at least the greater of \$100,000 or 6-2/3% of "Aggregate Indebtedness", as defined. At December 31, 2025, the Company's "Net Capital" was \$4,394,057 which exceeded regulatory requirements by \$4,294,057. The ratio of "Aggregate Indebtedness" to "Net Capital" was .18 to 1 at December 31, 2025.

{12}------------------------------------------------

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{13}------------------------------------------------

### NOTE 5. PROPERTY AND EQUIPMENT, NET

Property and equipment, net at December 31, 2025, consisted of the following:

| Leasehold improvements                          | S | 156.156 |
|-------------------------------------------------|---|---------|
| Furniture                                       |   | 119,466 |
| Automobile                                      |   | 51,583  |
| Artwork (not subject to depreciation)           |   | 46.199  |
|                                                 |   | 373.404 |
| Less: accumulated depreciation and amortization |   | 245.210 |
|                                                 | S | 128.194 |
|                                                 |   |         |

## NOTE 6. OPERATING LEASE COMMITMENTS

The Company accounts for leases in accordance with ASC 842, Leases, which requires substantially all leases (with the exception of leases with a term of one year or less) to be recorded in the statement of financial condition using the right-of-use (ROU) asset and liability approach. When the Company entered into its office lease during 2021 it recognized a lease liability and offsetting ROU asset of approximately \$559,000. The lease was amended on September 17, 2023 and an additional lease liability and offsetting ROU asset of \$318,196 was recognized. The discount rate used to calculate the present value of future minimum lease payments was 9.50%, which approximated the Company's incremental borrowing rate at the lease amendment date. As of December 31, 2025, the operating ROU asset, net was \$437,779 and the operating lease liability was \$543,161 for this office space lease.

The Company is currently obligated under a non-cancelable operating lease for its office space in Miami, Florida, originally expiring in 2024, and renewed during 2023 for an additional 3 years, through 2027. The Company has a noninterest bearing security deposit held by the lessor in the amount of \$34,327. This amount is included in other assets in the accompanying statement of financial condition.

The Company is also currently obligated under a non-cancelable operating lease for equipment, ending in 2027. The Company's estimated incremental borrowing rate is 9.50%, which approximated the Company's incremental borrowing rate when the lease commenced. As of December 31, 2025, the Company has an operating lease ROU asset and lease liability for this equipment of \$5,545 in the accompanying statement of financial condition.

Total operating lease costs were approximately \$251,000 for the year ended December 31, 2025. Cash amounts included in the measurement of the operating lease liabilities were approximately \$248,000 for the year ended December 31, 2025.

{14}------------------------------------------------

### NOTE 6. OPERATING LEASE COMMITMENTS

The approximate minimum annual lease payments required under the Company's operating lease liabilities together with their present value as of December 31, 2025, are as follows:

| 2026                                                 | S | 299,328  |
|------------------------------------------------------|---|----------|
| 2027                                                 |   | 309.230  |
| Total payments due under operating lease liabilities |   | 608,558  |
| Less discount to present value                       |   | (59.852) |
| Total operating lease liabilities                    | S | 548.706  |

The weighted average remaining lease term for operating leases is approximately 24 months as of December 31, 2025. The weighted average discount rate as of December 31, 2025 was 9.50%.

### NOTE 7. INCOME TAXES

At December 31, 2025, the Company recognized a total federal and state income tax payable in the approximate amount of \$63,000.

The Company does not anticipate that the total amount of unrecognized tax benefits related to any particular tax position will change significantly within the next 12 months. At December 31, 2025, no liabilities were recognized for uncertain tax positions. The Company's policy is to recognize interest and penalties related to income tax matters as a component of the income tax provision.

The U.S. federal jurisdiction and state of Florida are the major tax jurisdictions where the Company files its tax returns. The Company's income tax returns for the years 2022 - 2024 remain subject to examination by U.S. federal and the state of Florida tax jurisdictions. There are no federal or state income tax audits presently pending.

At December 31, 2025, the Company recognized a net deferred tax asset of \$89,000. The Components of the net deferred tax assets are comprised of deferred tax assets related to capitalized startup costs and the ROU assets and related liabilities totaling approximately \$107,000. Such deferred tax assets are offset by a deferred tax liability related to depreciation and amortization of property and equipment in the approximate amount of \$18,000.

Management has evaluated whether a valuation allowance was necessary to be recognized against the net deferred tax assets at December 31, 2025 and concluded no valuation allowance was necessary based on the Company's profitability and taxable income generated in the current year, which is projected to continue into future years based on the Company's business plan and the expected reversals of deferred tax liabilities in future periods.

{15}------------------------------------------------

## NOTE 8. RELATED PARTY TRANSACTIONS

## Introducing Broker Agreement and Riskless Principal Trading

Effective December 2021, the Company entered into an introducing broker agreement with Puente Servicios de Inversion, S.A. ("Puente IA"), a Panamanian investment adviser affiliated with the Company through common ownership. Puente IA introduces foreign customers to the Company in exchange for 90% (85% through August 2025) of the revenue, net of costs, generated by the Company in the trading accounts of the foreign customers. As of December 31, 2025, Puente IA owed the Company \$257,148 as reflected in due from affiliate in the accompanying statement of financial condition. This receivable is non-interest bearing, payable on demand and was paid in full during 2026.

## Administrative Services Agreements

The Company is party to an administrative services agreement with Puente IA, whereby Puente IA provides certain services to the Company. As of December 31, 2025, there was no balance due to Puente IA.

The Company is party to an administrative services agreement with the Parent, whereby the Parent provides marketing, financial administrative, and marketing services to the Company. As of December 31, 2025, the Company owed the Parent \$3,750, which is included in accounts payable and accrued liabilities in the accompanying statement of financial condition. This amount is noninterest bearing and payable on demand.

The Company is party to an administrative services agreement with Puente Casa de Bolsa, S.A. ("Puente Paraguay"), a Paraguayan affiliate of the Company, whereby Puente Paraguay provides the Company with assistance structuring new issues. As of December 31, 2025, the Company owed Puente Paraguay \$500, which is included in accounts payable and accrued liabilities in the accompanying statement of financial condition. This amount is noninterest bearing and payable on demand.

### NOTE 9. CONTINGENCIES

During the normal course of operations, the Company, from time to time, may be involved in lawsuits, arbitrations, claims, and other legal or regulatory proceedings. The Company does not believe that these matters will have a material adverse effect on the Company's financial position.

## NOTE 10. SUBSEQUENT EVENTS

The Company has evaluated subsequent events through March 27, 2026, the date this financial statement was issued and determined that no additional financial statement recognition or disclosure is necessary.


Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.