# EDGAR Filing Document

**Accession Number:** 0001146172
**File Stem:** 0001146172-26-000005
**Filing Date:** 2026-2
**Character Count:** 11418
**Document Hash:** 8957a2a10e0755c4bd0e5c33fc2af85b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001146172-26-000005.hdr.sgml**: 20260323

**ACCESSION NUMBER**: 0001146172-26-000005

**CONFORMED SUBMISSION TYPE**: MA-A

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260210

**DATE AS OF CHANGE**: 20260323

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** GALLAGHER SECURITIES, INC
- **CENTRAL INDEX KEY:** 0001146172

**ORGANIZATION NAME:**
- **EIN:** 133042558
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** MA-A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 867-01792
- **FILM NUMBER:** 26781562

**BUSINESS ADDRESS:**
- **STREET 1:** 300 MADISON AVENUE, 28TH FLOOR
- **STREET 2:** 5TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10017
- **BUSINESS PHONE:** 646-475-2904

**MAIL ADDRESS:**
- **STREET 1:** 300 MADISON AVENUE, 28TH FLOOR
- **STREET 2:** 5TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10017

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** WILLIS SECURITIES, INC.
- **DATE OF NAME CHANGE:** 20030405

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** WILLIS EQUITIES, INC.
- **DATE OF NAME CHANGE:** 20020124

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** WILLIS EQUITIES INC                                     /BD
- **DATE OF NAME CHANGE:** 20020124

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

## FORM MA: UNIFORM APPLICATION FOR MUNICIPAL ADVISOR REGISTRATION

### Filer and Contact Information

**Filer CIK:** 0001146172

**Filer CCC:** XXXXXXXX

**Contact Name:** Kathryn Anne Whalley

**Contact Phone:** 713-598-8228

**Contact Email:** kathryn_whalley@gallagherre.com

**Notification Emails:** ryan_fitzpatrick@gallagherre.com, kathryn_whalley@gallagherre.com

### Type of Filing

**Selected Filing Type:** Annual Update

### Item 1: Identifying Information

**A. Full Legal Name of the Firm:** GALLAGHER SECURITIES, INC

**&nbsp;&nbsp;&nbsp;Organization CRD No.:** 116605

**&nbsp;&nbsp;&nbsp;Is applicant a Sole Proprietor?:** No

**&nbsp;&nbsp;&nbsp;Has the municipal legal name changed since the last filing?:** No

**&nbsp;&nbsp;&nbsp;Has the applicant had any previous DBA names?:** No

**&nbsp;&nbsp;&nbsp;Does the applicant have any additional DBA names?:** No

**C. IRS Employer Identification Number:** 13-3042558

**D. Registrations:**

- **Municipal Advisor (Temporary):** SEC File No: 866-01117-00

- **Municipal Advisor:** SEC File No: 867-01792

- **Broker-Dealer:** SEC File No: 008-53563, CRD No: 116605

- **SEC-Registered Investment Adviser:** 

**E. Principal Office and Place of Business:** 300 Madison Avenue, 28th Floor, NEW YORK, NY, 10017

**Telephone Number:** 212-309-3494

**Mailing Address is Different from Principal Office:** No

**F. Website:** https://www.ajg.com/

**G. Chief Compliance Officer (CCO):**

**Name:** Ryan Edward Fitzpatrick

**Titles:** Chief Operating Officer

**Address:** 300 Madison Avenue, 28th Floor, New York, NY, 10017

**Phone Number:** 212-309-3494

**Email:** ryan_fitzpatrick@gallagherre.com

**H. Business Affiliates:**

- **Name:** Gallagher Re Inc.

  - **Issuing Agency:** Department of Financial Services

  - **Jurisdiction:** NY

**I. Location of Books and Records:** Yes

### Item 2: Form of Organization

**A. Applicant's form of organization:** Corporation

**B. Month of Applicant's Annual Fiscal Year End:** December

**C. State, Other U.S. Jurisdiction, or Foreign Jurisdiction Under Which Applicant is Organized:** DE

**D. Date of Organization:** 06-27-1977

**E. Is the applicant a public reporting company?:** No

### Item 3: Successions

**Is the applicant succeeding to the business of a registered municipal advisor?** No

### Item 4: Information About Applicant's Business

**A. Number of Employees:** 15

**B. Municipal Advisory Activities - Employees:** 0

**C. Registered Representatives - MAA Employees also registered reps of a broker-dealer:** 0

**&nbsp;&nbsp;&nbsp;MAA Employees also associated with an investment adviser:** 0

**D. Public Relations Company?:** No

**E. Soliciting on Behalf of an Affiliate - Number of firms:** 0

**F. Types of Clients - Number of clients served as municipal advisor:** 0

**&nbsp;&nbsp;&nbsp;Types of Clients:** Municipal Entities, Other

**G. Solicitation of Municipal Entities and Obligated Persons - Municipal Entities:** 0

**&nbsp;&nbsp;&nbsp;Obligated Persons:** 0

**&nbsp;&nbsp;&nbsp;Total Solicited:** 0

**H. Types of Persons Solicited:** 
Not Applicable
, Not Applicable

**I. Compensation Arrangements (Municipal Advisory):** 
Fixed Fees
Contingent Fees
, Fixed Fees, Contingent Fees

**J. Compensation Arrangements (Solicitation):** 
Not Applicable
, Not Applicable

**K. Does the applicant receive compensation in the context of its municipal advisory business from other than its municipal entity or obligated person clients?:** No

**L. Applicant Business Relating to Municipal Securities:** Advice Insurance Of MS

### Item 5: Other Business Activities

- **Broker-Dealer:** Actively Engaged: Yes, Primary Business: Yes

**Is applicant engaged in any other non-municipal advisor business?** No

### Item 6: Financial Industry and Other Activities of Associated Persons

**Types of associated persons:** Broker-dealer municipal securities dealer or government securities broker or dealer, Broker-dealer municipal securities dealer or government securities broker or dealer

**Total Associated Persons:** 1

### Item 7: Participation or Interest in Client Transactions

- **Buy or sell municipal securities from or to municipal advisory clients for the firm's own account?:** No

- **Buy or sell municipal securities from or to third-parties on behalf of clients?:** Yes

- **Enter into derivatives transactions with clients for the firm's own account?:** No

- **Recommend to clients to buy/sell securities in which the firm has a financial interest?:** No

- **Recommend to clients products/services of an affiliated person?:** Yes

- **Recommend to clients securities of an issuer with which the firm has other relationships?:** No

- **Have discretionary authority to buy/sell municipal securities for clients?:** No

- **Have discretionary authority to buy/sell any other securities or investments for clients?:** No

- **Have discretionary authority to determine the broker-dealer to be used for client transactions?:** No

- **Have discretionary authority to determine the commission paid to a broker-dealer?:** No

- **Recommend broker-dealers to clients?:** No

- **&nbsp;&nbsp;&nbsp;If yes, are any of these broker-dealers an associated person of the applicant?:** —

- **Compensate any person for client referrals?:** No

- **Receive compensation from any person for client referrals?:** No

### Item 8: Owners, Officers, and Other Control Persons

**A. (2) Does any person not named in Item 1-A or Schedules A, B, or C, directly or indirectly, control the applicant's management or policies?** No

**B. (1) Is any person in Schedule A, B, or C, or in Section 8-A of Schedule D a public reporting company?** No

### Item 9: Disclosure Information

**Criminal Disclosure:**

- **Applicant/Advisory Affiliate Convicted/Pled Guilty to Felony?:** No

- **Applicant/Advisory Affiliate Charged with Felony?:** No

- **Organization Convicted/Pled Guilty to Felony?:** No

- **Organization Charged with Felony?:** No

**Regulatory Disclosure:**

- **SEC/CFTC Found False Statement?:** No

- **SEC/CFTC Found Violation?:** No

- **SEC/CFTC Found Cause of Denial/Suspension?:** No

- **SEC/CFTC Entered Order?:** No

- **SEC/CFTC Imposed Civil Penalty?:** No

- **SRO Found Unethical Conduct?:** No

- **SRO Found Violation?:** No

- **SRO Found Cause of Denial/Suspension?:** No

- **SRO Barred/Suspended/Fined > $2,500?:** No

- **SRO Denied/Suspended/Revoked Registration?:** No

- **Foreign Authority Found False Statement?:** No

- **Foreign Authority Found Violation?:** Yes

- **Foreign Authority Found Cause of Suspension?:** No

- **Foreign Authority Disciplined?:** No

- **Authorization to Act as Attorney/Accountant Revoked?:** No

- **Subject of a Regulatory Complaint?:** No

**Civil Disclosure:**

- **Enjoined in Connection with Municipal Advisory Activity?:** No

- **Found to Have Violated Regulations?:** No

- **Civil Proceeding Dismissed Pursuant to Settlement?:** No

- **Named in Civil Proceeding Alleging Violation?:** No

### Item 10: Small Businesses

**Does the applicant have annual receipts of less than $7,000,000?** No

**Is the applicant affiliated with a person that has annual receipts of more than $7,000,000?** Yes

### Schedule A: Direct Owners and Executive Officers

| Name                     | Title/Status                                       | Date Acquired   | Ownership Code    | Control Person?   | IRS Number   | CRD Number   |
|:---|:---|:---|:---|:---|:---|:---|
| Arthur J. Gallagher & Co | Sole shareholder                                   | 12-01-2021      | E - 75% or more   | Yes               |  |  |
| Ryan Edward Fitzpatrick  | Chief Compliance Officer / Chief Operating Officer | 12-03-2018      | NA - less than 5% | Yes               |  | 2726698      |
| William Jay Dubinsky     | President / CEO                                    | 05-21-2010      | NA - less than 5% | Yes               |  | 3086399      |
| Michael Gerard Glynn     | FINOP                                              | 04-01-2007      | NA - less than 5% | No                |  | 3219445      |

### Schedule B: Indirect Owners

| Owning Entity        | Name                      | Title/Status     | Date Acquired   | Ownership Code   | Control Person?   | IRS Number   |
|:---|:---|:---|:---|:---|:---|:---|
| Gallagher Securities | Arthur J. Gallagher & Co. | Sole Shareholder | 12-01-2021      | E - 75% or more  | No                |  |

### Schedule C: Amendments to Schedules A and B

| Type   | Ownership   | Owning Entity        | Name                      | Title/Status                                       | Date Acquired   | Ownership Code    | Control Person?   | IRS Number   | CRD Number   |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Direct      |  | Arthur J. Gallagher & Co  | Sole shareholder                                   | 12-01-2021      | E - 75% or more   | Yes               |  |  |
|  | Indirect    | Gallagher Securities | Arthur J. Gallagher & Co. | Sole Shareholder                                   | 12-01-2021      | E - 75% or more   | No                |  |  |
|  | Direct      |  | Ryan Edward Fitzpatrick   | Chief Compliance Officer / Chief Operating Officer | 12-03-2018      | NA - less than 5% | Yes               |  | 2726698      |
|  | Direct      |  | William Jay Dubinsky      | President / CEO                                    | 05-21-2010      | NA - less than 5% | Yes               |  | 3086399      |
|  | Direct      |  | Michael Gerard Glynn      | FINOP                                              | 04-01-2007      | NA - less than 5% | No                |  | 3219445      |

### Disclosure Reporting Pages (DRPs)

**Regulatory DRP for: Applicant (Responding to Questions: 9-E2)**

- **Filed On (Applicant):** Form ADV/BD/U4 for —

- **CRD Number:** —

- **Disclosure Number:** —

### Execution Page

**Signature:** Kathryn Whalley

**Signer Name:** Kathryn Whalley

**Title:** Analyst

**Date:** 02-10-2026