# EDGAR Filing Document

**Accession Number:** 0000814108
**File Stem:** 0000814108-23-000001
**Filing Date:** 2023-2
**Character Count:** 17528
**Document Hash:** 917e40ad048809e1b549e6b9d9951a1c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000814108-23-000001.hdr.sgml**: 20230221

**ACCESSION NUMBER**: 0000814108-23-000001

**CONFORMED SUBMISSION TYPE**: X-17A-5

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230221

**DATE AS OF CHANGE**: 20230221

**EFFECTIVENESS DATE**: 20230221

**PERIOD START**: 20220101

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** M.M. DILLON & CO. LLC
- **CENTRAL INDEX KEY:** 0000814108
- **IRS NUMBER:** 251549798
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** X-17A-5
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 008-37893
- **FILM NUMBER:** 23646702

**BUSINESS ADDRESS:**
- **STREET 1:** ONE SOUND SHORE DRIVE
- **STREET 2:** SUITE 100
- **CITY:** GREENWICH
- **STATE:** CT
- **ZIP:** 06830
- **BUSINESS PHONE:** 203-569-6823

**MAIL ADDRESS:**
- **STREET 1:** ONE SOUND SHORE DRIVE
- **STREET 2:** SUITE 100
- **CITY:** GREENWICH
- **STATE:** CT
- **ZIP:** 06830

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** C.E. PFEIFER LLC
- **DATE OF NAME CHANGE:** 20101206

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** M.M. DILLON & CO. LLC
- **DATE OF NAME CHANGE:** 20101202

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** C.E. PFEIFER LLC
- **DATE OF NAME CHANGE:** 20100603

### Attached PDF Documents

**Attachment 1:** `mmdpublic.pdf`

# M.M. DILLON & CO. LLC

## STATEMENT OF FINANCIAL CONDITION

DECEMBER 31, 2022

# UNITED STATES

# SECURITIES AND EXCHANGE COMMISSION

# Washington, D.C. 20549

OMB APPROVAL

OMB Number: 3235-0123

Expires: Oct. 31, 2023

Estimated average burden

hours per response: 12

# ANNUAL REPORTS

# FORM X-17A-5

# PART III

SEC FILE NUMBER

8-37893

# FACING PAGE

Information Required Pursuant to Rules 17a-5, 17a-12, and 18a-7 under the Securities Exchange Act of 1934

FILING FOR THE PERIOD BEGINNING 01/01/2022 AND ENDING 12/31/2022

MM/DD/YY

MM/DD/YY

# A. REGISTRANT IDENTIFICATION

NAME OF FIRM: M.M. Dillon & Co. 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 a P.O. box no.)

One Sound Shore Drive

| (No. and Street) |  |  |
| --- | --- | --- |
| Greenwich | CT | 06830 |
| (City) | (State) | (Zip Code) |

PERSON TO CONTACT WITH REGARD TO THIS FILING

Michiel McCarty 203-569-6800 mespinal@mmdillon.com

(Name)

(Area Code - Telephone Number)

(Email Address)

# B. ACCOUNTANT IDENTIFICATION

INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing*

Sanville & Company

| (Name - if individual, state last, first, and middle name) |  |  |  |
| --- | --- | --- | --- |
| 1514 Old York Road | Abington | PA | 19001 |
| (Address) | (City) | (State) | (Zip Code) |
| 9-18-2003 |  | 169 |  |

(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.

# OATH OR AFFIRMATION

I, Michiel McCarty, swear (or affirm) that, to the best of my knowledge and belief, the financial report pertaining to the firm of M.M. Dillon & Co. LLC, as of December 31, 2022, is true and correct. I further swear (or affirm) that neither the company nor any partner, officer, director, or equivalent person, as the case may be, has any proprietary interest in any account classified solely as that of a customer.

NOTARY PUBLIC OF CONNECTICUT
My Commission Expires 10/31/2024

Signature:

Notary Public

Title:

CEO

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.
(1) 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.
(0) Reconciliations, including appropriate explanations, of the FOCUS Report with computation of net capital or tangible net worth under 17 CFR 240.15c3-1, 17 CFR 240.18a-1, or 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 240.17a-12, or 17 CFR 240.18a-7, as applicable.
(r) Compliance report in accordance with 17 CFR 240.17a-5 or 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.
(t) Independent public accountant's report based on an examination of the statement of financial condition.
(u) Independent public accountant's report based on an examination of the financial report or 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.
(x) Supplemental reports on applying agreed-upon procedures, in accordance with 17 CFR 240.15c3-1e or 17 CFR 240.17a-12, as applicable.
(y) Report describing any material inadequacies found to exist or 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)(3) or 17 CFR 240.18a-7(d)(2), as applicable.

# **M.M. DILLON & CO. LLC**

**DECEMBER 31, 2022**

# **TABLE OF CONTENTS**

|  | Page |
| --- | --- |
| Report of Independent Registered Public Accounting Firm | 1 |
| Statement of Financial Condition | 2 |
| Notes to Financial Statement | 3-5 |

# Sanville & Company

CERTIFIED PUBLIC ACCOUNTANTS

ROBERT F. SANVILLE, CPA
MICHAEL T. BARANOWSKY, CPA
JOHN P. TOWNSEND, CPA
NATHANIEL S. HARTGRAVES, CPA

1514 OLD YORK ROAD ABINGTON, PA 19001
(215) 884-8460 • (215) 884-8686 FAX

MEMBERS OF
AMERICAN INSTITUTE OF
CERTIFIED PUBLIC ACCOUNTANTS
PENNSYLVANIA INSTITUTE OF
CERTIFIED PUBLIC ACCOUNTANTS

100 WALL STREET, 8th FLOOR
NEW YORK, NY 10005
(212) 709-9512

## REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Member of
M.M. Dillon & Co. LLC

### Opinion on the Financial Statement

We have audited the accompanying statement of financial condition of M.M. Dillon & Co. LLC (the “Company”) as of December 31, 2022, 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, 2022 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 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 statements. 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.
Abington, Pennsylvania
February 11, 2023

# **M.M. DILLON & CO. LLC**
**NOTES TO THE FINANCIAL STATEMENT**
**DECEMBER 31, 2022**

| Cash | $35,894 |
| --- | --- |
| Other assets | 329 |
| Total assets | $36,223 |

# **LIABILITIES AND MEMBER'S EQUITY**

Liabilities:

| Accrued expenses and other payables | $2,425 |
| --- | --- |
| Total liabilities | 2,425 |

| Member's equity | 33,798 |
| --- | --- |

| Total liabilities and member's equity | $36,223 |
| --- | --- |

See notes to the financial statement.

2

# **M.M. DILLON & CO. LLC**  
**NOTES TO THE FINANCIAL STATEMENT**  
**DECEMBER 31, 2022**---

# **1. ORGANIZATION AND DESCRIPTION OF BUSINESS**

M.M. Dillon & Co. LLC (the 'Company') is a wholly-owned subsidiary of C.E. Pfeifer Holdings, LLC (the 'Parent'), a holding company, who is 99% owned by M.M. Dillon & Co. Group LLC. M.M. Dillon & Co. Group LLC (the 'Group') is a Stamford, Connecticut, based investment banking firm, which provides a wide array of investment banking services to middle market institutional clients. The Company operates as a limited liability company under the laws of the State of Delaware. The Company is a registered broker dealer pursuant to Section 15(b) of the Securities Exchange Act of 1934. The Company is a member of the Financial Industry Regulatory Authority ('FINRA') and the Securities Investor Protection Corporation ('SIPC'). The Company provides investment banking advisory and private placement financing services.

# **2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES**

# ***Basis of presentation***

The accompanying financial statement of the Company have been prepared on the accrual basis of accounting.

# ***Revenue recognition***

The Company's advisory fees from investment banking engagements are recognized at a point in time when the related transaction is completed, as the performance obligation is to successfully broker a specific transaction.

In accordance with ASU No. 2014-09, 'Revenue from Contracts with Customers' ('ASC Topic 606') revenues from contracts with customers is recognized when, or as, the Company satisfies its performance obligations by transferring the promised services to the customers. A service is transferred to a customer when, or as, the customer obtains control of that service. A performance obligation may be satisfied at a point in time or over time. Revenue from a performance obligation satisfied at a point in time is recognized at the point in time that the Company determines the customer obtains control over the promised service. Revenue from a performance obligation satisfied over time is recognized by measuring the Company's progress in satisfying the performance obligation in a manner that depicts the transfer of the services to the customer. The amount of revenue recognized reflects the consideration the Company expects to receive in exchange for those promised services (i.e., the 'transaction price'). In determining the transaction price, the Company considers multiple factors, including the effects of variable consideration, if any.

Revenue from investment banking advisory services is recognized when the services are rendered and related expenses are recorded when incurred. Deal fees are recorded when earned and related expenses are recorded when incurred. Since the Company's provision of financing services involves significant resources, its revenues tend to be concentrated.

3

# **M.M. DILLON & CO. LLC**  
**NOTES TO THE FINANCIAL STATEMENT**  
**DECEMBER 31, 2022**---

# **2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES** *(continued)*

# ***Concentration of risk***

The Company maintains cash in bank accounts with a single financial institution. The balances are insured by the FDIC up to $250,000. The Company has not experienced any losses in such accounts and does not believe it is exposed to any significant credit risk on cash.

# ***Use of estimates***

The preparation of financial statement in conformity with accounting principles generally accepted in the United States of America 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 statement and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

# ***Allowance for Doubtful Accounts***

Periodically, the Company evaluates its accounts receivable and, if applicable, provides for an allowance for doubtful accounts equal to amounts estimated to be uncollectible. The Company's estimate is based on a review of the current status of the individual accounts receivable.

# ***Income taxes***

As a single member limited liability company, the Company does not incur any liability for federal or state income taxes because all income, deductions and credits are reportable by its member.

# **3. RELATED PARTY TRANSACTIONS**

Through an expense sharing agreement with the Group, the Company was allocated certain operating expenses including occupancy, administrative salaries, communications, and office expenses in the amount of $46,800 of which all was forgiven by the Parent.

# **4. NET CAPITAL REQUIREMENTS**

The Company is subject to the uniform net capital requirements of Rule 15c3-1 of the Securities and Exchange Act, as amended, which requires the Company to maintain, at all times, sufficient liquid assets to cover indebtedness. In accordance with the Rule, the Company is required to maintain defined minimum net capital of the greater of $5,000 or 6 2/3% of aggregate indebtedness.

At December 31, 2022, the Company had net capital, as defined, of $33,469, which exceeded the required minimum net capital of $5,000 by $28,469. Aggregate indebtedness at December 31, 2022 totaled $2,425. The Company's percentage of aggregate indebtedness to net capital was 7.25%.

4

# **M.M. DILLON & CO. LLC**  
**NOTES TO THE FINANCIAL STATEMENT**  
**DECEMBER 31, 2022**---

# **5. SUBSEQUENT EVENTS**

Management of the Company has evaluated events and transactions that have occurred since December 31, 2022, through the date of the report and determined that there are no material events that would require disclosures in the Company's financial statement.

5

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

## FORM X-17A-5

### ANNUAL AUDITED REPORT

### Filer Information

**Filer CIK:** 0000814108

**Filer CCC:** XXXXXXXX

**Is this a LIVE or TEST filing?:** LIVE

**Would you like a Return Copy?:** No

### Submission Information

**Report Period Begin Date:** 01-01-2022

**Report Period End Date:** 12-31-2022

**Type of Registrant:** Broker-dealer

**Any material weaknesses identified?:** No

### Registrant Identification

**Name of Broker-Dealer:** M.M. DILLON & CO. LLC

**Business Address:** ONE SOUND SHORE DRIVE, SUITE 100, GREENWICH, CT, 06830

**Contact Person:** Michiel McCarty

**Contact Phone:** 203 569 6800

### Independent Public Accountant Identification

**Accountant Name:** Sanville & Company

**Accountant Address:** 1514 Old York Road, Abington, PA, 19001

**Accountant Type:** Certified Public Accountant

### OATH OR AFFIRMATION

I, **Michiel McCarty**, swear (or affirm) that, to the best of my knowledge and belief, the accompanying financial statements and supporting schedules pertaining to the firm of **M.M. DILLON & CO. LLC**, as of **12-31-2022**, are true and correct.

**Signature:** Michiel McCarty

**Title:** CEO

**Notarized:** Yes