# MEC GLOBAL PARTNERS LLC X-17A-5 (2021-02-19) — Broker-dealer annual report - Company: MEC GLOBAL PARTNERS LLC - Form: X-17A-5 - Filed: 2021-02-19 - Period: 2020-12-31 - Accession: 0001789121-21-000002 - CIK: 1789121 - File #: 8-70418 - Material weakness: No - Auditor: Mazars USA LLP - Auditor location: New York, NY - Contact: Randall Wilbert - Phone: 617-476-2772 - Website: mazars.us - Signed by: Randall Wilbert (CEO) Original filing: https://www.sec.gov/Archives/edgar/data/1789121/000178912121000002/SHORTforEDGAR.pdf --- {0}------------------------------------------------ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 | | OMB APPROVAL | | |-------------|---------------------------|-----------------| | OMB Number: | | 3235-0123 | | | Expires: October 31, 2023 | | | | Estimated average burden | | | | hours per response 12.00 | | | | | SEC FILE NUMBER | | | 8 - 70418 | | ### ANNUAL AUDITED REPORT FORM X-17A-5 PART III ## FACING PAGE I nformation 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 | 04/09/2020 | AND ENDING | 12/31/2020 | |--------------------------------------------------------------------------------------------------------------------------------------|--------------------------------------------------------|------------|---------------------------------------------| | | MM/DD/YYYY | | MM/DD/YYYY | | | A. REGISTRANT IDENTIFICATION | | | | NAME OF BROKER-DEALER: | | | | | | | | OFFICIAL USE ONLY | | MEC GLOBAL PARTNERS LLC | | | | | ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use P.O. Box No.) | | | FIRM ID. NO. | | | 28 State Street 10th Floor | | | | | (No. and Street) | | | | Boston | MA | | 02109 | | (City) | (State) | | (Zip Code) | | Randall Wilbert | B. ACCOUNTANT IDENTIFICATION | | 617-476-2772
(Area Code - Telephone No.) | | INDEPENDENT PUBLIC ACCOUNTANT whose opinion is contained in this Report" | | | | | Mazars USA LLP | | | | | | (Name - if individual, state last, first, middle name) | | | | 135 West 50th Street | NEW YORK | NY | 10020 | | (Address) | (City) | (State) | (Zip Code) | | CHECK ONE:
Certified Public Accountant
Public Accountant
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 overed 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 240.17a-5(e)(2). > Potential 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. SEC 1410 (06-02) {1}------------------------------------------------ #### OATH OR AFFIRMATION | | Randall Wilbert | , swear (or affirm) that, to the | |------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------|----------------------------------| | | best of my knowledge and belief the accompanying financial statement and supporting schedules pertaining to the firm of | | | | MEC Global Partners LLC | as of | | December 31, 2020 | , are true and correct. I further swear (or affirm) that neither the company | | | | nor any partner, proprietor, principal officer or director has any proprietary interest in any account classified soled as that of | | | a customer, except as follows: | | | | NO EXCEPTIONS | | | | | | | | | | | | | Signature | | | | CEO | | | | Title | | | | | | | Notary Public | CLAUDIA TAYLOR | | | | NOTARY PUBLIC. States 72 Qualified in Kings County of Control of Corporation Commission Expires 10/28/ | | | | | | | This report** contains (check all applicable boxes): | | | | (a) Facing page | | | | (b) Statement of Financial Condition. | | | | (c) Statement of Income (Loss). | | | | (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 Reconcliation, induding appropriate explanation, of the Computation 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 Recondliation between the audited and unaudited Statements of Financial Condition with respect to methods of con- | | | solidation.
(I) An Oath or Affirmation. | | | | (m) A copy of the SIPC Supplemental Report. | | | | | (n) A report describing any material inadequacies found to exist or found to have existed since the date of the previous audit. | | | (o) Exemption report | | | | | | | \* \* For conditions of confidential treatment of certain portions of this filing, see section 240.17a-5(e)(3). {2}------------------------------------------------ ### MEC Global Partners LLC (A Wholly Owned Subsidiary of MEC Global Partners CH LLC) Financial Statement December 31 , 2020 (W ith Report of Independent Registered Public Accounting Firm) {3}------------------------------------------------ (A Wholly Owned Subsidiary of MEC Global Partners CH LLC) Table of Contents | Report of Independent Registered Public Accounting Firm | 1 | |---------------------------------------------------------|-----| | Financial Statement as of December 31, 2020: | | | Statement of Financial Condition | 2 | | Notes to Financial Statement | 3-4 | {4}------------------------------------------------ ![](_page_4_Picture_0.jpeg) Tel: 212.812.7000 www.mazars.us ### **Report of Independent Registered Public Accounting Firm** #### **To the Member of MEC Global Partners LLC.** #### **Opinion on the Financial Statements** We have audited the accompanying statement of financial condition of MEC Global Partners LLC, (the "Company"), as of December 31 , 2020, and the related notes (collectively referred to as the " financial statement"). ln our opinion, the statement of financial condition presents fairly, in all material respects, the financia l position of the Company, as of December 3 1, 2020, 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 the Company's 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 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 financ ial statement is free of material misstatement, whether due to error or fraud. Our a udit included performing procedures to assess the risks of material misstatement of the financial statement, whether due to error or fraud, and perfonning 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 2020. New York, New York February 1 7, 202 I {5}------------------------------------------------ (A Wholly Owned Subsidiary of MEC Global Partners CH LLC) Statement of Financial Condition December 31, 2020 # Assets Cash \$ 167,318 Prepaid expenses 14,984 Total Assets \$ 182,302 Liabilities and Member's Equity Accounts payable and accrued liabilities \$ 31 ,267 Total Liabilities \$ 31 ,267 Total Member's Equity 151,035 Total Liabilities and Member's Equity \$ 182,302 The accompanying notes are an integral part of this financial statement. {6}------------------------------------------------ #### **(A Wholly Owned Subsidiary of MEC Global Partners CH LLC)** Notes to Financial Statement December 31, 2020 #### (1) Business and Organization MEC Global Partners LLC (the "Company") was formed on February 19, 2019 as a Delaware limited liability company. The Company is a member of the Financial Industry Regulatory Authority, Inc ("FINRA") and became a registered broker-dealer under the Security Exchange Act of 1934 effective April 9, 2020. The Company is a wholly owned subsidiary of MEC Global Partners CH LLC (the "Parent"). The Parent is a wholly owned subsidiary of MEC Global Partner Holdings LLC (the "Affiliate"). The Company is a limited purpose broker-dealer, specializing in the placement of affiliated private real estate funds. #### (2) Summary of Significant Accounting Policies These financial statements have been prepared in accordance with U.S. generally accepted accounting principles (U.S. GAAP). All amounts are expressed in United States dollars (U.S. dollars) unless otherwise stated. The following is a summary of the significant accounting and reporting policies used in preparing the financial statements. #### (a) Use of Estimates The preparation of financial statements requires management to make certain estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. #### (b) Prepaid Expenses The Company from time to time makes payments in advance to third parties for insurance, regulatory fees or other items. As of December 31 , 2020, the Company had \$14,984 of prepaid expenses reported on its statement of financial condition. #### (c) Income Taxes On April 9, 2020 the Company adopted ASU 2019-12 (Topic 740), which simplifies the accounting for legal entities not subject to tax. The Company is a single member limited liability company. The Internal Revenue Code ("IRC") provides that any income or loss is passed through to the member for federal and state income tax purposes. Accordingly, the Company has not provided for federal, state, or local income taxes. At December 31 , 2020, management has determined that the Company had no uncertain tax positions that would require financial statement recognition. This determination will always be subject to ongoing reevaluation as facts and circumstances may require. The Company remains subject to U.S. federal and state income tax audits for all periods subsequent to 2019. In accordance with ASC 740, Income Taxes, the Company evaluates its tax positions to determine whether it is more likely than not that such positions would be sustained upon examination by tax authorities. Management has analyzed the tax positions taken by the Company, and has concluded that there were no uncertain tax positions that would have a material effect on the financial statements as of December 31 , 2020. The Company is subject to income tax examination by the Internal Revenue Service, and other jurisdictions, however there are currently no audits in progress. {7}------------------------------------------------ **(A Wholly Owned Subsidiary of MEC Global Partners CH LLC)** Notes to Financial Statement December 31 , 2020 #### (3) **Concentration of Risk** Financial instruments that potentially subject the Company to concentrations of risk consist primarily of cash and cash equivalents. The Company maintains its cash and cash equivalents in bank accounts with one bank whose balances often exceed federally insured limits- #### **(4) Commitments & Contingencies** The Company may be subject to claims and litigation in the ordinary course of business. In management's opinion, based upon the information available as of the date these financials are available to be issued, there are no litigation claims against the Company that would have a material impact on the operating results of the Company. #### **(5) Related-Party Transactions** On April 6, 2020 the Company had entered into an administrative services agreement with the Parent and the Affiliate. Under the terms of the agreement the Company is responsible for payment of its share of professional and administrative salaries, health insurance, and a sublicense fee for office space and equipment. #### **(6) Net Capital** The Company, as a registered broker-dealer in securities, is subject to the Securities Exchange Commission Uniform Net Capital Rule (Rule 15c3-1 ). As of April 2020, FINRA approved the Company to maintain a minimum net capital requirement of the higher of \$5,000(or12.5% of aggregate liabilities in the first year of operations, 6.66% thereafter) pursuant to Rule 15c3-1. As of December 31 , 2020, the Company had net capital of \$136,051 and excess net capital of \$131 ,051 . #### **(7) Subsequent Events** The Company has evaluated the need for disclosures and/or adjustments resulting from subsequent events through the date these financial statements were available to be issued Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.