# MEC GLOBAL PARTNERS LLC X-17A-5 (2022-02-24) — Broker-dealer annual report
- Company: MEC GLOBAL PARTNERS LLC
- Form: X-17A-5
- Filed: 2022-02-24
- Period: 2021-12-31
- Accession: 0001789121-22-000001
- CIK: 1789121
- File #: 8-70418
- Type: Broker-dealer
- Material weakness: No
- Auditor: Mazars USA LLP
- Auditor location: New York, NY
- Contact: Randall Wilbert
- Phone: 617-476-2772
- Email: randy.wilbert@mecgp.com
- Website: mecgp.com
- Signed by: Randall Wilbert (Chief Executive Officer)
Original filing: https://www.sec.gov/Archives/edgar/data/1789121/000178912122000001/MECGP2021ShortEdgar2.pdf
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| | UNITED STATES | | | | | |
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| SECURITIES AND EXCHANGE COMMISSION | | | | OMB APPROVAL | | |
| Washington, D.C. 20549 | | | | OMB Number: 3235-0123
Expires: Oct. 31, 2023 | | |
| | | | Estimated average burden | | | |
| | | | | hours per response: 12 | | |
| | ANNUAL REPORTS | | | | | |
| FORM X-17A-5 | | | | SEC FILE NUMBER | | |
| PART III | | | | | 8-70418 | |
| | | FACING PAGE | | | | |
| Information Required Pursuant to Rules 17a-5, 17a-12, and 18a-7 under the Securities Exchange Act of 1934 | | | | | | |
| REPORT FOR THE PERIOD BEGINNING | 01/01/2021
MM/DD/YY | AND ENDING | 12/31/2021
MM/DD/YY | | | |
| | | A. REGISTRANT IDENTIFICATION | | | | |
| NAME OF FIRM: MEC Global Partners LLC | | | | | | |
| | | | | | | |
| TYPE OF
REGISTRANT (check all applicable boxes): | | | | | | |
| ☒Broker-dealer | ☐Security-based swap
dealer | | ☐Major security-based swap participant | | | |
| ☐ Check here if respondent is also an OTC derivatives dealer | | | | | | |
| ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use P.O. Box No.) | | | | | | |
| | | ONE FEDERAL STREET, 17th FLOOR | | | | |
| | | (No. and Street) | | | | |
| Boston | | MA | | 02110 | | |
| (City) | | (State) | | | (Zip Code) | |
| PERSON TO CONTACT WITH REGARD TO THIS FILING | | | | | | |
| Randall Wilbert | | 617-476-2772 | | randy.wilbert@mecgp.com | | |
| (Name) | (Area Code – Telephone Number) | | | (Email Address) | | |
| | | B. ACCOUNTANT IDENTIFICATION | | | | |
| INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing* | | | | | | |
| | | Mazars USA LLP | | | | |
| | | (Name – if individual, state last, first, middle name) | | | | |
| 135 West 50th Street | New York | | NY | | 10020 | |
| (Address) | (City) | | (State) | | (Zip Code) | |
| 10/08/2003 | | | | | 339 | |
| (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 be covered by the 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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## **MEC Global Partners LLC (A Wholly Owned Subsidiary of MEC Global Partners CH LLC)**
Financial Statement
December 31, 2021
(With Report of Independent Registered Public Accounting Firm)
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**(A Wholly Owned Subsidiary of MEC Global Partners CH LLC)** Table of Contents
| | Page |
|-----------------------------------------------------------|------|
| Report of Independent Registered Public Accounting Firm | 1 |
| Financial Statement for the year ended December 31, 2021: | |
| Statement of Financial Condition | 2 |
| Notes to Financial Statement | 3–4 |
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## **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, 2021, and the related notes (collectively referred to as the "financial statement"). In our opinion, the statement of financial condition presents fairly, in all material respects, the financial position of the Company, as of December 31, 2021, 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 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 2020.
New York, New York February 18, 2022
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**(A Wholly Owned Subsidiary of MEC Global Partners CH LLC)**
Statement of Financial Condition December 31, 2021
| Assets | |
|------------------------------------------|---------------|
| Cash | \$
291,802 |
| Prepaid expenses | 15,312 |
| Total Assets | \$
307,114 |
| | |
| Liabilities and Member's Equity | |
| Related party payable | \$
155,207 |
| Accounts payable and accrued liabilities | 34,146 |
| Total Liabilities | \$
189,353 |
| | |
| Total Member's Equity | 117,761 |
| | |
| Total Liabilities and Member's Equity | \$
307,114 |
The accompanying notes are an integral part of this financial statement.
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**(A Wholly Owned Subsidiary of MEC Global Partners CH LLC)**
Notes to Financial Statement December 31, 2021
### **(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, 2021, the Company had \$15,312 of prepaid expenses reported on its statement of financial condition.
#### *(c) Income Taxes*
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.
As of December 31, 2021, 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 years.
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, 2021. The Company is subject to income tax examination by the Internal Revenue Service, and other jurisdictions, however there are currently no audits in progress.
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**(A Wholly Owned Subsidiary of MEC Global Partners CH LLC)**
Notes to Financial Statement December 31, 2021
### **(3) Concentration of Risk**
Financial instruments that potentially subject the Company to concentrations of risk consist of a cash balance being maintained with a bank which at times may 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**
Under the terms of the current administrative services agreement with the Parent and the Affiliate, 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. As of December 31, 2021 the related party payable was \$155,207.
#### **(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). This Rule requires the maintenance of minimum net capital and that the ratio of aggregate indebtedness to net capital, both as defined, shall not exceed 15 to 1. As of April 2020, FINRA approved the Company to maintain a minimum net capital requirement of the higher of \$5,000 (or 6.67% of aggregate liabilities) pursuant to Rule 15c3-1.
As of December 31, 2021, the Company had net capital of \$102,449 and excess net capital of \$89,825.
#### **(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.