# EDGAR Filing Document

**Accession Number:** 0001581829
**File Stem:** 0001581829-23-000002
**Filing Date:** 2023-3
**Character Count:** 20497
**Document Hash:** b6a4d899fbf011ce379165c307593211
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001581829-23-000002.hdr.sgml**: 20230324

**ACCESSION NUMBER**: 0001581829-23-000002

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230324

**DATE AS OF CHANGE**: 20230324

**EFFECTIVENESS DATE**: 20230324

**PERIOD START**: 20220101

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** GREENLEYS CAPITAL MARKETS LLP
- **CENTRAL INDEX KEY:** 0001581829
- **IRS NUMBER:** 462159250
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** X-17A-5
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 008-69319
- **FILM NUMBER:** 23759631

**BUSINESS ADDRESS:**
- **STREET 1:** 420 LEXINGTON AVENUE, SUITE 1402
- **CITY:** NYC
- **STATE:** NY
- **ZIP:** 10170
- **BUSINESS PHONE:** 212-479-2517

**MAIL ADDRESS:**
- **STREET 1:** 420 LEXINGTON AVENUE, SUITE 1402
- **CITY:** NYC
- **STATE:** NY
- **ZIP:** 10170

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** LXM USA LLP
- **DATE OF NAME CHANGE:** 20130717

### Attached PDF Documents

**Attachment 1:** `gcmsofc222.pdf`

# 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

PUBLIC

# ANNUAL REPORTS

# FORM X-17A-5

# PART III

# SEC FILE NUMBER

# 8-69319

# 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 | 12/31/22 |
| --- | --- | --- | --- |
|  | MM/DD/YY |  | MM/DD/YY |

# A. REGISTRANT IDENTIFICATION

NAME OF FIRM: Greenleys Capital Markets LLP

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.)

420 Lexington Avenue, Suite 1402

(No. and Street)

New York

(City)

N.Y.

(State)

10017

(Zip Code)

PERSON TO CONTACT WITH REGARD TO THIS FILING

J. Clarke Gray

917-238-1263

clarke@taylorgrayllc.com

(Name)

(Area Code - Telephone Number)

(Email Address)

# B. ACCOUNTANT IDENTIFICATION

INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing*

Raphael, Goldberg, Nikpour, Cohen, Sullivan, CPA's PLLC

(Name - if individual, state last, first, and middle name)

97 Froehlich Farm Road

Woodbury

N.Y.

11797

(Address)

(City)

(State)

(Zip Code)

02/23/10

5028

(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, J. Clarke Gray, swear (or affirm) that, to the best of my knowledge and belief, the financial report pertaining to the firm of Greenleys Capital Markets LLP, as of 12/31, 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.

![img-0.jpeg](img-0.jpeg)

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.
☐ (l) 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 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.

# GREENLEYS CAPITAL MARKETS LLP
## STATEMENT OF FINANCIAL CONDITION
### DECEMBER 31, 2022

# GREENLEYS CAPITAL MARLETS LLP

## CONTENTS

December 31, 2022

Page

Report of Independent Registered Public Accounting Firm... 1

### Financial Statement

Statement of Financial Condition ... 2

Notes to Financial Statements... 3-6

RGNC&S
RAPHAEL
GOLDBERG
NIKPOUR
COHEN
SULLIVAN
CERTIFIED PUBLIC ACCOUNTANTS PLLC

Mark C. Goldberg, CPA

Mark Raphael, CPA

Floria Samii-Nikpour, CPA

Allan B. Cohen, CPA

Michael R. Sullivan, CPA

Anita C. Jacobsen, CPA

Founding Partner:

Melvin Goldberg, CPA

# REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Managing Members' of
Greenleys Capital Markets LLP

# Opinion on the Financial Statement

We have audited the accompanying statement of financial condition of Greenleys Capital Markets LLP (the "Company") as of December 31, 2022, and the related notes to 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 ("SEC") 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.

Raphael Goldberg Nikpour Cohen & Sullivan CPA's PLLC

Raphael Goldberg Nikpour Cohen & Sullivan

Certified Public Accountants PLLC

We have served as Greenleys Capital Markets LLP's auditors since 2016

Woodbury, New York

March 22, 2023

97 FROEHLICH FARM BLVD. WOODBURY, NEW YORK 11797 | TEL: 516.864.8600 | FAX: 516.496.9688 | WWW.RSGNCCPAS.COM

# GREENLEYS CAPITAL MARKETS LLP

## Statement of Financial Condition

### December 31, 2022

ASSETS

| Cash | $361,020 |
| --- | --- |
| Accounts receivable | 1,342 |
| Receivable from affiliated entity | 108,241 |
| Prepaid expenses | 1,536 |
| Security deposit | 1,000 |
| TOTAL ASSETS | $473,139 |

LIABILITIES AND MEMBERS' CAPITAL
LIABILITIES

| Accounts payable and accrued expenses | $28,419 |
| --- | --- |
|  | 28,419 |
| MEMBERS' CAPITAL | 444,720 |
| TOTAL LIABILITIES AND MEMBERS' CAPITAL | $473,139 |

2

The accompanying notes are an integral part of this financial statement.

# GREENLEYS CAPITAL MARKETS LLP
NOTES TO FINANCIAL STATEMENT
DECEMBER 31, 2022

# NOTE 1 - ORGANIZATION AND NATURE OF BUSINESS ACTIVITY

GREENLEYS CAPITAL MARKETS LLP (name changed from LXM USA LLP on June 24, 2021) (the “Company”) was formed in the State of Delaware as a Limited Liability Partnership (“LLP”) on February 15, 2013. The Company’s purpose is to carry on a general brokerage and financial business, but more specifically to act as a broker-dealer in marketable securities to its institutional clients. The Company is owned by six individuals who manage a similar business in Europe.

The Company is a broker-dealer registered with the Securities and Exchange Commission (the “SEC”). The Company is also a member of the Financial Industry Regulatory Authority (“FINRA”) and the Securities Investor Protection Corp (“SIPC”). The Company operates out of its sole office in New York City.

# NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING PRINCIPLES

# BASIS OF PRESENTATION

The accompanying financial statements have been prepared on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) as determined by the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”).

# USE OF ESTIMATES

The preparation of financial statements in conformity with U.S. GAAP 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 statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates.

# CASH AND CASH EQUIVALENTS

The Company has defined cash equivalents as highly liquid investments with original maturities of less than 90 days which are not held for sale in the ordinary course of business.

# FAIR VALUE OF FINANCIAL INSTRUMENTS

The Company’s financial instruments consist of cash, accounts receivable, receivable from affiliated entity, and accounts payable. The fair value of cash is based upon the bank balance at December 31, 2022.

3

GREENLEYS CAPITAL MARKETS LLP
NOTES TO FINANCIAL STATEMENT
DECEMBER 31, 2022

# NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING PRINCIPLES(CONTINUED)

# FAIR VALUE OF FINANCIAL INSTRUMENTS(CONTINUED)

The fair value of accounts receivable, receivable from affiliated entity and accounts payable is estimated by management to approximate their carrying value at December 31, 2022.

# INCOME TAXES

The Company is a limited liability partnership and is treated as a passthrough entity for income tax reporting purposes. No provision for federal or state income taxes has been made since the Company is not a taxable entity. The members are individually liable for the taxes on their share of the partnership's income or loss. The Company is, however, subject to the New York City Unincorporated Business Tax ("UBT").

The Company recognizes and measures unrecognized tax benefits in accordance with FASB ASC Topic 740, "Income Taxes". Under the guidance the Company assesses the likelihood, based on their technical merit, that tax positions will be sustained upon the examination based on the facts, circumstances and information available at the end of each period. The Company recognizes and measures unrecognized tax benefits in accordance with FASB ASC 740, "Income Taxes". Under the guidance the Company assesses the likelihood, based on their technical merit, that tax positions will be sustained upon the examination based on the facts, circumstances and information available at the end of each period. At December 31, 2022, management determined that the Company had no uncertain tax positions that would require financial statement recognition.

The Company has a deferred UBT income tax asset of approximately $55,500 at December 31, 2022 related to net operating loss carry forwards and the current year net loss. A valuation allowance has been established offsetting the $55,500 as the ultimate realization of these benefits is uncertain. The Company had net operating loss carry forwards of approximately $1,388,000 as of December 31, 2022, which begin to expire in 2033.

# CREDIT LOSSES

The Company complies with ASC Topic 326, Financial Instruments - Credit Losses ("ASC 326"). ASC 326 impacts the impairment model for certain financial assets by requiring a current expected credit loss ("CECL") methodology to estimate expected credit losses over the entire life of the financial asset. Under the accounting update, the Company has the ability to determine that there are no expected credit losses in certain circumstances (e.g., based on the credit quality of the customer).

4

GREENLEYS CAPITAL MARKETS LLP
NOTES TO FINANCIAL STATEMENT
DECEMBER 31, 2022

# NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING PRINCIPLES(CONTINUED)

# CREDIT LOSSES(CONTINUED)

The Company's research fees and commissions (including but not limited to, receivables related to brokerage commissions) are impacted by the new guidance. The Company had accounts receivable of and of $5,250 and $1,342 at December 31, 2021 and 2022, respectively.

# NOTE 3- CONCENTRATIONS OF CREDIT RISK

During the year ended December 31, 2022, three customers accounted for 65% of the total revenue.

The Company maintains all of its cash deposits in one financial institution, which at times, may exceed federally insured limits. The Company has not experienced any losses in such accounts and believes it is not subject to any significant credit risk with respect to these deposits.

The Company will engage in various brokerage activities on which counterparties primarily include broker-dealers, banks, and other financial institutions. In the event counterparties do not fulfill their obligations, the Company may be exposed to risk. The risk of default depends on the creditworthiness of the counterparty or issuer of the instrument. It is the Company's policy to act only as an agent in a transaction and to review the credit standing of each counterparty as necessary.

# NOTE 4 - NET CAPITAL REQUIREMENTS

The Company is subject to the SEC Uniform Net Capital Rule 15c3-1. This rule requires the maintenance of minimum net capital and requires that the ratio of aggregate indebtedness to net capital, both as defined, shall not exceed 15 to 1, and that equity capital may not be withdrawn if the resulting net capital ratio would exceed 10 to 1.

At December 31, 2022, the Company's net capital was $332,601 which was $82,601 in excess of its minimum requirement of $250,000 under SEC Rule 15c3-1. The Company's net capital ratio was 0.085 to 1.

The Company qualifies under the exemptive provisions of Rule 15c3-3 under sub-paragraph k(2)(i) as the Company does not carry security accounts for customers or perform custodial functions related to customer securities.

5

# **GREENLEYS CAPITAL MARKETS LLP**  
**NOTES TO FINANCIAL STATEMENT**  
**DECEMBER 31, 2022**---

# **NOTE 5 - CONTINGENCIES AND COMMITMENTS**

There were no asserted claims or legal proceedings against the Company at December 31, 2022 and during the year then ended. However, the nature of the Company's business subjects it to various claims, regulatory examinations, and other proceedings in the ordinary course of business. The ultimate outcome of any such action against the Company could have an adverse impact on the financial condition, results of operations, or cash flows of the Company.

The Company had no lease or equipment rental commitments, no underwriting commitments and no contingent liabilities at December 31, 2022 or during the year then ended.

# **NOTE 6 - RELATED PARTY TRANSACTIONS**

# ***SERVICES PROVIDED BY UK AFFILIATE***

During 2022, the Company was allocated costs from its UK affiliate regarding the Company's participation in various alpha capture programs and for the affiliate's assistance with the 15a-6 client base.

The Company had a receivable of $108,241 from the affiliate at December 31, 2022.

# **NOTE 7 - GUARANTEES**

The Company has issued no guarantees at December 31, 2022 or during the year then ended.

# **NOTE 8 - LEASE**

The Company leases office space on a month- to- month basis.

# **NOTE 9 - SUBSEQUENT EVENTS**

Subsequent events have been evaluated through March 22, 2023, the date the financial statements were available to be issued. The Company has notified the Securities and Exchange Commission and FINRA on January 24, 2023 that it will terminate its broker-dealer license effective and cease operations. There have been no other subsequent events requiring recognition or disclosure in the financial statements.

6

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

## FORM X-17A-5

### ANNUAL AUDITED REPORT

### Filer Information

**Filer CIK:** 0001581829

**Filer CCC:** XXXXXXXX

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

**Would you like a Return Copy?:** Yes

### 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:** GREENLEYS CAPITAL MARKETS LLP

**Business Address:** 420 LEXINGTON AVENUE, SUITE 1402, NYC, NY, 10170

**Contact Person:** John Clarke Gray

**Contact Phone:** 9172381263

### Independent Public Accountant Identification

**Accountant Name:** Raphael, Goldberg, Nikpour, Cohen, Sullivan CPA's PLLC

**Accountant Address:** 97 Froehlich Farm Blvd., Woodbury, NY, 11797

**Accountant Type:** Certified Public Accountant

### OATH OR AFFIRMATION

I, **John Clarke Gray**, swear (or affirm) that, to the best of my knowledge and belief, the accompanying financial statements and supporting schedules pertaining to the firm of **GREENLEYS CAPITAL MARKETS LLP**, as of **03-31-2022**, are true and correct.

**Signature:** John Clarke Gray

**Title:** CFO

**Notarized:** Yes