# EDGAR Filing Document

**Accession Number:** 0000914898
**File Stem:** 0000914898-23-000002
**Filing Date:** 2023-2
**Character Count:** 60035
**Document Hash:** 25c7081819e54da76a7dbf8c4d7e903e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000914898-23-000002.hdr.sgml**: 20230224

**ACCESSION NUMBER**: 0000914898-23-000002

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

**PUBLIC DOCUMENT COUNT**: 4

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230224

**DATE AS OF CHANGE**: 20230224

**EFFECTIVENESS DATE**: 20230224

**PERIOD START**: 20220101

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** NYLIFE DISTRIBUTORS LLC
- **CENTRAL INDEX KEY:** 0000914898
- **IRS NUMBER:** 133741759
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** X-17A-5
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 008-46655
- **FILM NUMBER:** 23668020

**BUSINESS ADDRESS:**
- **STREET 1:** 30 HUDSON STREET
- **STREET 2:** THIRD FLOOR, COMPLIANCE
- **CITY:** JERSEY CITY
- **STATE:** NJ
- **ZIP:** 07302
- **BUSINESS PHONE:** 201-685-6220

**MAIL ADDRESS:**
- **STREET 1:** 30 HUDSON STREET
- **STREET 2:** 22ND FLOOR
- **CITY:** JERSEY CITY
- **STATE:** NJ
- **ZIP:** 07302

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** NYLIFE DISTRIBUTORS INC.
- **DATE OF NAME CHANGE:** 20031215

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** NYLIFE DISTRIBUTORS LLC
- **DATE OF NAME CHANGE:** 20031105

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** NYLIFE DISTRIBUTORS INC.
- **DATE OF NAME CHANGE:** 20020301

### Attached PDF Documents

**Attachment 1:** `nyldpublic1.pdf`

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

## ANNUAL REPORTS
FORM X-17A-5
PART III

| OMB APPROVAL |
| --- |
| OMB Number: 3235-0123 Expires: Oct. 31, 2023 Estimated average burden hours per response: 12 |
| SEC FILE NUMBER |
| B-46655 |

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 1/1/2022 AND ENDING 12/31/2022
MM/DD/YY MM/DD/YY

### A. REGISTRANT IDENTIFICATION

NAME OF FIRM: New York Life Distributors 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.)

30 Hudson Street

| Jersey City | N J | 07302 |
| --- | --- | --- |
| (City) | (State) | (Zip Code) |

PERSON TO CONTACT WITH REGARD TO THIS FILING

| Marta Hansen | 917-748-0162 | marta_hansen@nylim.com |
| --- | --- | --- |
| (Name) | (Area Code - Telephone Number) | (Email Address) |

### B. ACCOUNTANT IDENTIFICATION

INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing*

PriceWaterhouse Coopers LLP

| (Name - if individual, state last, first, and middle name) |  |  |  |
| --- | --- | --- | --- |
| 300 Madison Avenue | New York | NY | 10017 |
| (Address) | (City) | (State) | (Zip Code) |

(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, Marta Hansen, swear (or affirm) that, to the best of my knowledge and belief, the financial report pertaining to the firm of New York Life Distributors LLC, 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.

MICHAEL J. GUINEY
NOTARY PUBLIC OF NEW JERSEY
Commission # 50103931
My Commission Expires 4/26/2024

Signature
Title:
Chief Financial Officer & Controller

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 flow.
☐ (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.

# NYLIFE Distributors LLC

(An affiliate of New York Life Insurance Company)

Statement of Financial Condition

December 31, 2022

# **NYLIFE Distributors LLC**
(An affiliate of New York Life Insurance Company)
Index
**Year Ended December 31, 2022**

*(In Thousands)*

| Report of Independent Registered Public Accounting Firm | 2 |
| --- | --- |
| Statement of Financial Condition | 3 |
| Notes to Statement of Financial Condition | 4-12 |

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

## Report of Independent Registered Public Accounting Firm

To the Board of Managers and Member of NYLIFE Distributors LLC

### *Opinion on the Financial Statement - Statement of Financial Condition*

We have audited the accompanying statement of financial condition of NYLIFE Distributors LLC (the “Company”) as of December 31, 2022, including the related notes (collectively referred to as the “financial statement”). In our opinion, the financial statement 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*

The 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 of this financial statement 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.

*PricewaterhouseCoopers LLP*

February 24, 2023

We have served as the Company’s auditor since at least 2001. We have not determined the specific year we began serving as auditor of the Company.

---

PricewaterhouseCoopers LLP, 300 Madison Avenue, New York, NY 10017-6204  
T: (646) 471 3000, www.pwc.com/us

# **NYLIFE Distributors LLC**  
 **(An affiliate of New York Life Insurance Company)**  
 **Statement of Financial Condition**  
 **Year Ended December 31, 2022**

*(In Thousands)*

# **Assets**

| Cash and cash equivalents | $9,830 |
| --- | --- |
| Investments in affiliated mutual funds - at fair value | 21,619 |
| Receivable from affiliated mutual funds | 8,835 |
| Receivable from affiliates | 759 |
| Federal income taxes receivable from New York Life Insurance Company | 405 |
| Other assets | 917 |
| Deferred tax asset | 212 |
| Deferred distribution costs, net of accumulated amortization of $3,504 | 599 |
| Total assets | $43,176 |

# **Liabilities and Member's Equity**

| Payable to affiliates | $15,909 |
| --- | --- |
| Accounts payable and accrued liabilities | 8,975 |
| Total liabilities | 24,884 |
| Member's equity | 18,292 |
| Total liabilities and member's equity | $43,176 |

The accompanying notes are an integral part of this financial statement

3

# **NYLIFE Distributors LLC**  
**(An affiliate of New York Life Insurance Company)**  
**Notes to Statement of Financial Condition**  
**Year Ended December 31, 2022**

*(In Thousands)*

# **1. Organization and Business**

NYLIFE Distributors LLC (the “Company”) is a Delaware limited liability company and a wholly owned subsidiary of New York Life Investment Management Holdings LLC (“Holdings”), which is a wholly owned subsidiary of New York Life Insurance Company (“NYLIC”). The Company is registered with the Securities and Exchange Commission (the “SEC”) as a broker-dealer and is a member of the Financial Industry Regulatory Authority (“FINRA”). The Company is a member of the Securities Investor Protection Corporation as a requirement of its membership with FINRA.

The Company acts as principal underwriter and agent for the distribution and sale of shares of a number of affiliated mutual funds including the MainStay Funds, MainStay VP Funds Trust, the MainStay Funds Trust (collectively the “Funds”) and unaffiliated funds. It also serves in a similar capacity with regard to variable life and annuity contracts issued by an affiliated insurance company. The Company does not carry customer accounts or effect customer transactions and does not accept any customer funds or securities for deposit into any of the Company’s accounts.

The Company does not claim an exemption under paragraph (k) of 17 C.F.R. § 240.15c3-3, it files an exemption relying on Footnote 74 of the SEC Release No. 34-70073 adopting amendments to 17 C.F.R. § 240.17a-5 because the Company limits its business activities exclusively to (1) proprietary trading; (2) mutual fund underwriter or sponsor; (3) mutual fund retailer; (4) broker dealer selling variable life insurance or annuities; (5) private placement of securities; (6) distributor of funds traded on the securities exchanges; and (7) broker or dealer of municipal security funds; and the Company (8) did not directly or indirectly receive, hold, or otherwise owe funds or securities for or to customers; (9) did not carry accounts of or for customers; and (10) did not carry PAB accounts (as defined in Rule 15c3-3).

The Company earns distribution and/or service fees, redemption fees, and concessions, pursuant to the terms of various agreements with the Funds. As the distributor of these Funds, the Company has entered into agreements under which certain funds have adopted Plans of Distribution (the “12b-1 Plans”) pursuant to Rule 12b-1 under the Investment Company Act of 1940. The 12b-1 Plans are required to be approved annually by Trustees of the funds and are created based on FINRA and SEC rules.

# **2. Basis of Presentation**

The accompanying Statement of Financial Condition has been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”).

For the summary of other significant accounting policies, see Note 3 - Summary of Significant Accounting Policies.

# **3. Summary of Significant Accounting Policies**

# **Use of Estimates**

The preparation of Statement of Financial Condition in accordance with 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 Statement of Financial Condition. Actual results could materially differ from those estimates.

4

# **NYLIFE Distributors LLC**  
(An affiliate of New York Life Insurance Company)  
Notes to Statement of Financial Condition  
**Year Ended December 31, 2022**

*(In Thousands)*

# **Cash and Cash Equivalents**

Cash and cash equivalents include cash at bank and short-term U.S. Treasury bills with an original maturity of less than 90 days at the time of purchase. Cash equivalents are discussed in Note 5 - Fair Value Measurements.

# **Investments**

The Company's investments in affiliated mutual funds are carried at fair value. The fair value of a financial instrument is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.

Shares of affiliated mutual funds are valued at the closing quoted price, which represent the net asset value of shares held by the Company at year end.

Purchases and sales of securities are recorded on trade date. For a discussion on valuation methods, refer to Note 5 - Fair Value Measurements. The Company holds these investments long term and does not turn over the shares in these portfolios. The Company uses such securities as investment vehicles for its excess capital.

# **Deferred Distribution Costs**

Commissions paid to third-party broker dealers in connection with the sale of shares of Class B and Class C affiliated mutual funds are capitalized as deferred distribution costs, and amortized on a straight-line basis over a six, four, or one-year period, representing the periods during which commissions are generally recovered from redemption fees or Contingent Deferred Sales Charges ('CDSC') and 12b-1 fees. Class B shares are no longer available to new shareholders but are still available to current shareholders. The deferred distribution costs were evaluated for recoverability at December 31, 2022. The Company's analysis indicated that no impairment had occurred, and as a result, no change to the carrying amount was required. Deferral of the sales commissions are included in Deferred distribution costs, net of accumulated amortization in the accompanying Statement of Financial Condition.

# **Other Assets**

Other assets consist primarily of payments made to FINRA for registered representative licensing fees.

# **Income Taxes**

For U.S. federal income tax purposes, the Company is treated as a limited liability company whose federal taxable income or loss flows through NYLIC and is included in the group's U.S. federal consolidated income tax return. The consolidated income tax provision or benefit is allocated among the members of the group in accordance with a tax allocation agreement. The tax allocation agreement provides that the Company computes its income tax provision or benefit, in general, on a separate company basis and may, where applicable, include the tax benefits of operating or capital losses utilizable in NYLIC's consolidated returns. Intercompany tax balances are generally settled quarterly on an estimated basis with a final settlement within 30 days of the filing of the consolidated return. Current federal income taxes are charged or credited to operations based upon amounts estimated to be payable or recoverable as a result of taxable operations for the current year and any adjustments to such estimates from prior years.

State and local tax returns are generally filed separately. In those cases where the Company's results are included with NYLIC's state tax filings, the Company is charged or credited for state taxes paid by NYLIC only to the extent that the Company's income/loss increases or reduces NYLIC's state tax liability. However, in years where NYLIC's own income level requires it to pay a flat state tax and the Company's income/loss

5

# **NYLIFE Distributors LLC**  
**(An affiliate of New York Life Insurance Company)**  
**Notes to Statement of Financial Condition**  
**Year Ended December 31, 2022**

*(In Thousands)*

does not affect NYLIC's state tax liability, no state tax liability or benefit is allocated to the Company pursuant to the tax allocation agreement.

Deferred federal income tax assets and liabilities are recognized for expected future tax consequences of temporary differences between GAAP and taxable income. Temporary differences are identified and measured using a balance sheet approach whereby GAAP and tax balance sheets are compared. Deferred income taxes are generally recognized based on enacted tax rates, and a valuation allowance is recorded if it is more likely than not any portion of the deferred tax asset will not be realized.

In accordance with the authoritative guidance related to income taxes, the Company determines whether it is more likely than not that a tax position will be sustained upon examination by the appropriate tax authorities before any part of the benefit can be recorded in the Statement of Financial Condition.

#### **Guarantees**

In the normal course of business, the Company enters into contracts that contain a variety of representations, warranties and indemnification provisions. The Company's maximum exposure under these arrangements is unknown and includes potential future claims that may be made against the Company. However, based on experience, the Company expects the risk of loss to be remote. As of December 31, 2022, there have been no liabilities related to guarantees or any payouts made related to such guarantees.

#### **Leases**

In February 2016, the FASB issued updated guidance on accounting for leases which requires lessees to recognize almost all leases on the balance sheet as a right-of-use asset and a lease liability. For leases with a term of 12 months or less, a lessee is permitted to make an accounting policy election not to recognize lease assets and lease liabilities rather to recognize lease expense on a straight-line basis over the term of the lease. The recognition, measurement, and presentation of expenses and cash flows arising from a lease have not significantly changed. Also, fundamental changes were not made to the lessor accounting. The Company adopted the guidance on January 1, 2019 using a modified retrospective approach. The adoption of this guidance did not have an impact on the Statement of Financial Condition, as no arrangements were identified that met the definition of a lease under ASC 842 Leases.

#### **Current Expected Credit Losses**

In June 2016, the FASB issued updated guidance for recognizing credit losses on certain financial instruments based on an estimate of current expected credit losses. Entities are required to estimate lifetime expected credit losses based on an asset's amortized cost that reflects losses expected over the remaining contractual life of an asset. As of December 31, 2022, the Company had receivables from affiliated mutual funds related to distribution fees, service fees, CDSC, and initial sales charges. The Company also had receivables from affiliates under common control which are out of scope from the estimate of current expected credit losses ('CECL') standard. The Company generally does not hold any allowance for credit losses against these receivables because of their short-term nature, the remote probability of default by the counter party, the presence of other credit protections in an event of default, or a policy for timely write off. Therefore, the adoption of this guidance in 2020 did not have a material impact on the Company's Statement of Financial Condition in 2022.

#### **4. Business Risks and Uncertainties**

The disruption caused by the COVID-19 pandemic continues to have a major impact on the global economy and financial markets.

6

# **NYLIFE Distributors LLC**  
**(An affiliate of New York Life Insurance Company)**  
**Notes to Statement of Financial Condition**  
**Year Ended December 31, 2022**

*(In Thousands)*

The ultimate extent of the impact will depend on numerous factors, all of which are highly uncertain and cannot be predicted. These factors include the length and severity of the outbreak, including the impact of new variant of the virus and the efficacy of vaccines and therapeutic treatments in combating the virus, the effectiveness of responses to the pandemic taken by governments and private sector businesses, and the impacts on the Company's customers and vendors.

The Company continues to monitor the economic environment and other potential impacts relating to the COVID-19 pandemic and believes it is well positioned to continue to meet its regulatory and capital requirements.

Volatile markets may adversely affect sales of affiliated mutual funds and cause potential investors of the funds to refrain from new or additional investments and may cause current investors to withdraw from the market or reduce their rates of ongoing investment. Revenues of the Company are to a large extent based on fees related to the value of shareholder investments in affiliated mutual funds. Consequently, poor market performance may impact fee revenues and could impact the carrying value of certain assets.

The Company leverages technology systems and solutions to conduct business and to retain, store, protect, and manage confidential information. The failure of the Company's technology systems and solutions, or those of a third party, for any reason has the potential to disrupt its operations, result in the loss of customer business, damage the Company's reputation, and expose the Company to litigation and regulatory action, all of which could adversely impact its profitability.

Changes in the regulatory environment may also adversely affect sales of mutual funds.

The Company is subject to concentration credit risk when its cash deposits at a financial institution exceed the Federal Deposit Insurance Corporation ('FDIC') insurance of $250. At December 31, 2022 the Company had $4,580 in deposits in excess of the FDIC insured limit.

## **5. Fair Value Measurements**

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Company's assets and liabilities recorded at fair value are measured and classified in accordance with a fair value hierarchy consisting of three levels based on the observability of the inputs used in measuring the fair value. The level is determined based on the lowest level input that is significant to the fair value measurement.

The three levels of the fair value hierarchy based on the inputs to the valuation are as follows:

Level 1 Fair value is based on unadjusted quoted prices for identical assets or liabilities in an active market. Active markets are defined as markets in which many transactions occur with sufficient frequency and volume to provide pricing information on an ongoing basis.

Level 2 Fair value is based on observable inputs, other than Level 1 inputs, such as quoted prices in active markets for similar assets or liabilities, quoted prices in markets that are not active for identical or similar assets, or other model driven inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Valuations are generally obtained from third-party pricing services for identical or comparable assets or liabilities or through the use of valuation methodologies using observable market inputs.

7

# **NYLIFE Distributors LLC**  
 **(An affiliate of New York Life Insurance Company)**  
 **Notes to Statement of Financial Condition**  
 **Year Ended December 31, 2022**

*(In Thousands)*

Level 3 Instruments whose values are based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. These inputs reflect management’s own assumptions in pricing the asset or liability.

# **Determination of Fair Values**

The Company has an established process for determining fair value. Security pricing is applied using a hierarchy approach whereby publicly available prices are first sought from third-party pricing services. The Company has investments in affiliated mutual funds which are priced daily with a publicly available quoted price.

The following table represents the balances of assets measured at fair value on a recurring basis as of December 31, 2022:

|  | Quoted Prices in Active Markets for Identical Assets Level 1 | Significant Observable Inputs Level 2 | Significant Unobservable Inputs Level 3 | Total |
| --- | --- | --- | --- | --- |
| Affiliated mutual funds* | $21,619 | $ - | $ - | $21,619 |
| Cash Equivalents | $ - | $5,000 | $ - | $5,000 |
| Total assets accounted for at fair value on a recurring basis | $21,619 | $5,000 | $ - | $26,619 |

*The Company does not hold any assets for which the NAV per share is used as a practical expedient and for which the fair value hierarchy would not apply.*

The following is a description of the valuation methodologies used to determine the fair value, as well as the general classification of such instruments pursuant to the valuation hierarchy.

# **Affiliated Mutual Funds**

Mutual Funds are classified as Level 1. The Company has investments in affiliated mutual funds which are priced daily with a publicly available quoted price.

# **Cash Equivalents**

Cash equivalents are comprised of U.S Treasury bills. These instruments are typically classified as Level 2 because they are generally not traded in active markets, however, their fair value is based on observable inputs. The prices are either obtained from a pricing vendor, or amortized cost is used as the carrying value approximates fair value. As of December 31, 2022, there were $5,000 cash equivalents outstanding.

# **Transfers Between Levels**

During the year ended December 31, 2022, there were no transfers between Levels 1 and 2. There were no Level 3 assets or liabilities during the year and no transfers into or out of Level 3 during the year. These transfers are assessed at the beginning of each year.

# **Non-recurring Fair Value Measurements**

The Company may be required, from time to time, to measure certain other assets at fair value on a non-recurring basis in accordance with GAAP. At December 31, 2022, the Company did not have any assets measured at fair value on a non-recurring basis.

8

# **NYLIFE Distributors LLC**  
**(An affiliate of New York Life Insurance Company)**  
**Notes to Statement of Financial Condition**  
**Year Ended December 31, 2022**

*(In Thousands)*

# **6. Related Party Transactions**

The Company continues to be dependent on funding from Holdings to finance its various operations. Funds received have been recorded as capital contributions on the Statement of Changes in Member's Equity. A 12-month Capital Contribution commitment in the amount of $90,000 was approved by New York Life Insurance Company, being the Sole Member of New York Life Management Holdings LLC, on September 28, 2021. This commitment covered the period from October 1, 2021 through September 28, 2022. On February 16, 2022, the Capital Commitment was extended, resulting in a new capital commitment of $95,000 that covers the time period of February 16, 2022 through February 28, 2023. This was approved by the Sole Member of NYLIM Holdings, LLC, on February 16, 2022.

A 12-month capital contribution commitment in the amount of $95,000 was approved by New York Life Insurance Company, being the Sole Member of New York Life Management Holdings LLC, on October 17, 2022 covering the period from March 1, 2023 through February 28, 2024.

On December 23, 2022, the Company entered into a revolving note and cash subordination agreement with New York Life Insurance Company in which NYLIC will lend the Company sums of money on a revolving basis which, in the aggregate, shall not exceed $10,000. The Company is obligated to repay the aggregate unpaid principal amount of all cash received on or before December 23, 2024, the scheduled maturity date. As of December 31, 2022 and through February 24, 2023, the date the financial statements were available to be issued, the Company did not draw down on its line of credit.

The Company is party to service agreements with NYLIC and New York Life Investment Management LLC ('NYL Investments'), a wholly owned subsidiary of Holdings, whereby NYLIC and NYL Investments provide services, including personnel, office, legal, accounting, administrative and other services for which the Company is charged. The Company is charged for these services based upon (a) actual costs incurred, where they are separately identifiable and (b) allocation of costs incurred by NYLIC or NYL Investments developed principally through analyses of time spent on matters relating to the Company, and/or other reasonable and consistently applied basis. Accrued expenses associated with these agreements were $10,530 and are included in Payable to affiliates in the accompanying Statement of Financial Condition.

The Company earns distribution, service and redemption fees, which are described below, pursuant to the terms of various agreements with the Funds. As distributor of the Funds, the Company has entered into various agreements under which certain Funds have adopted Plans of Distribution (the 'Plans') pursuant to Rule 12b-1 under the Investment Company Act of 1940. The Plans are required to be approved annually by Trustees of the funds.

The Company receives a distribution fee at either an annualized rate of 0.75% or 0.25% of the monthly average daily net asset value of certain share classes of certain funds under each of the Plans. At December 31, 2022, amounts receivable under these agreements were $754 are included in Receivable from affiliated mutual funds in the accompanying Statement of Financial Condition.

The Company also receives a service fee at the annualized rate of 0.25% of the monthly average daily net assets of certain share classes of certain mutual funds as compensation for services rendered to fund shareholders and the maintenance of shareholder accounts. At December 31, 2022, amounts receivable under these agreements were $4,234 and are included in Receivable from affiliated mutual funds in the accompanying Statement of Financial Condition.

The Company receives an initial sales charge on sales of certain fund shares subject to rates that decline from 5.5% to 0% of the offering price depending on the size of the investment. These rates are specified in the prospectus at the time of sale. At December 31, 2022, amounts receivable under these agreements

9

# **NYLIFE Distributors LLC**  
**(An affiliate of New York Life Insurance Company)**  
**Notes to Statement of Financial Condition**  
**Year Ended December 31, 2022**

*(In Thousands)*

were $233 which is included in Receivable from affiliated mutual funds in the accompanying Statement of Financial Condition.

The Company has a variable product distribution agreement with New York Life Insurance Company and Annuity Corporation (“NYLIAC”), an indirect wholly owned insurance company subsidiary of NYLIC, granting Distributors the exclusive right to distribute and to be the underwriter and/or agent of the Company’s variable product policies. The Company receives a service fee at the annualized rate of 0.25% of the monthly average daily net assets of the VP Funds. The VP Funds are an investment option for certain variable annuity and variable life insurance products issued by NYLIAC.

Pursuant to a service agreement, the Company pays service fees to NYLIAC for servicing shareholder accounts. At December 31, 2022, the amounts receivable from affiliated mutual funds for service fees income and service fees expense payable to NYLIAC were $3,470 in the accompanying Statement of Financial Condition.

In connection with agreements with certain financial intermediaries, the Company receives from NYLIM Services, a reimbursement of sub-transfer agent fees attributable to that portion of the transfer agent fees charged to the funds by NYLIM Services, which are related to the portion of such administrative services provided by the financial intermediaries. The Company in connection with these agreements recorded a receivable of $655 at December 31, 2022, which is included in Receivable from affiliates on the accompanying Statement of Financial Condition.

In accordance with the terms of agreements with MacKay Shields LLC (“MacKay”) and affiliates, the Company pays for support and consulting services regarding the introduction of assets to be managed by either an affiliated or unaffiliated investment management company and receives marketing support services. At December 31, 2022, the Company recorded a receivable from MacKay for $104 and is included in Receivable from affiliates.

NYLIFE Securities LLC (“Securities”), an affiliate, and the Company entered into a soliciting dealer agreement whereby the Company receives concession revenue and pays Securities commissions from the distribution of the Funds’ shares by registered representatives of Securities. For the year ended December 31, 2022, the Company accrued a payable for commissions of $1,909, which is included in Payable to affiliates in the accompanying Statement of Financial Condition. At December 31, 2022, the Company capitalized $86 of these commissions on Class C shares, net of accumulated amortization in the accompanying Statement of Financial Condition.

10

# **NYLIFE Distributors LLC**  
 **(An affiliate of New York Life Insurance Company)**  
 **Notes to Statement of Financial Condition**  
 **Year Ended December 31, 2022**

*(In Thousands)*

A summary of the components of the related party transactions for the year ended December 31, 2022, included in the accompanying Statement of Financial Condition are as follows:

# **Payable to affiliates**

| New York Life Investment Management LLC | $10,117 |
| --- | --- |
| New York Life Insurance and Annuity Corporation | 3,470 |
| NYLIFE Securities LLC | 1,909 |
| New York Life Insurance Company | 413 |
| Total | $15,909 |

# **Affiliated service fees**

| New York Life Insurance and Annuity Corporation | $43,705 |
| --- | --- |
| MacKay Shields LLC | 1,027 |
| Other Affiliates | 3 |
| Total | $44,735 |

# **7. Taxes**

Pursuant to the tax allocation agreement (see Note 3 - Summary of Significant Accounting Policies), as of December 31, 2022 the Company recorded a net income tax receivable from NYLIC of $405.

Deferred income taxes are generally recognized, based on enacted tax rates, when assets and liabilities have different values for financial statement and tax purposes. The Company's management has concluded that the deferred tax assets are more likely than not to be realized. Therefore, no valuation allowance has been provided.

The components of the net deferred tax asset / (liability) reported as of December 31, 2022 are attributable to the following temporary differences:

|  | 2022 |
| --- | --- |
| Deferred tax assets |  |
| Unrealized investment losses | $212 |
| Gross Deferred tax asset | $212 |
| Net deferred income tax asset | $212 |

As of December 31, 2022, the Company has no federal net operating or capital loss carryforwards.

As a member of NYLIC's consolidated group, the Company's federal income tax returns are routinely audited by the Internal Revenue Service and provisions are made in the Statement of Financial Condition in anticipation of the results of these audits. The IRS has completed audits through 2013 and tax years 2014 through 2018 are currently under examination with the IRS. There were no material effects on the Company's Statements of Operations as a result of these audits.

The Inflation Reduction Act ('IRA') of 2022 was enacted on August 16, 2022. The IRA includes a new Federal Corporate Alternative Minimum Tax (CAMT), effective in 2023, that is based on the adjusted financial statement income set forth on the applicable financial statement of an applicable corporation. The

11

# **NYLIFE Distributors LLC**  
**(An affiliate of New York Life Insurance Company)**  
**Notes to Statement of Financial Condition**  
**Year Ended December 31, 2022**

*(In Thousands)*

Company has not determined as of the reporting date if it will be an applicable corporation and if it will be liable for CAMT in 2023. The 2022 financial statements do not include an estimated impact of the CAMT because a reasonable estimate cannot be made.

The Company did not have any uncertain tax positions as of December 31, 2022.

# **8. Net Capital Requirements**

The Company is subject to the Uniform Net Capital Rule (“Rule 15c3-1”) under the Securities Exchange Act of 1934, which requires the maintenance of minimum net capital. The Company has elected to compute its net capital requirement in accordance with the Alternative Method permitted by the rule. This method requires the maintenance of minimum net capital, as defined, of the greater of 2% of aggregate debit items arising from customer transactions or $250. At December 31, 2022, the Company had net capital, as defined under such rules, of $8,714 which was $8,464 in excess of its required net capital of $250.

# **9. Commitments or Contingencies**

Commitments and contingencies were evaluated through February 24, 2023, the date the Statement of Financial Condition were available to be issued. The Company has concluded that there are no commitments or contingencies events requiring financial statement disclosure.

# **10. Subsequent Events**

Subsequent events were evaluated through February 24, 2023, the date the Statement of Financial Condition were available to be issued.

12

**Attachment 2:** `nyldexemption1.pdf`

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

## Report of Independent Registered Public Accounting Firm

To the Management and the Board of Managers of NYLIFE Distributors LLC

We have reviewed NYLIFE Distributors LLC's assertions, included in the accompanying NYLIFE Distributors LLC's Exemption Report, in which the Company stated that:

(1) The Company does not claim an exemption under paragraph (k) of 17 C.F.R. § 240.15c3-3, and

(2) The Company is filing its Exemption Report relying on Footnote 74 of the SEC Release No. 34-70073 adopting amendments to 17 C.F.R. § 240.17a-5 because the Company limits its business activities exclusively to (1) proprietary trading; (2) mutual fund underwriter or sponsor; (3) mutual fund retailer; (4) broker dealer selling variable life insurance or annuities; (5) private placement of securities; (6) distributor of funds traded on the securities exchanges; and (7) broker or dealer of municipal security funds, and the Company (1) did not directly or indirectly receive, hold, or otherwise owe funds or securities for or to customers (2) did not carry accounts of or for customers; and (3) did not carry PAB accounts (as defined in Rule 15c3-3) throughout the year ended December 31, 2022 without exception.

The Company's management is responsible for the assertions and for compliance with the provisions of Footnote 74 of the SEC Release No. 34-70073 adopting amendments to 17 C.F.R. § 240.17a-5 throughout the year ended December 31, 2022.

Our review was conducted in accordance with the standards of the Public Company Accounting Oversight Board (United States) and, accordingly, included inquiries and other required procedures to obtain evidence about the Company's compliance with the provisions of Footnote 74 of the SEC Release No. 34-70073 adopting amendments to 17 C.F.R. § 240.17a-5. A review is substantially less in scope than an examination, the objective of which is the expression of an opinion on management's assertions. Accordingly, we do not express such an opinion.

Based on our review, we are not aware of any material modifications that should be made to management's assertions referred to above for them to be fairly stated, in all material respects, based on the provisions set forth in Footnote 74 of the SEC Release No. 34-70073 adopting amendments to 17 C.F.R. § 240.17a-5.

February 24, 2023

PricewaterhouseCoopers LLP, 300 Madison Avenue, New York, NY 10017-6204
T: (646) 471 3000, www.pwc.com/us

30 Hudson Street
Jersey City, J 07302

NYLIFE
Distributors

NEW YORK LIFE Investment Management LLC

# NYLIFE Distributors LLC's Exemption Report

NYLIFE Distributors LLC (the "Company") is a registered broker-dealer subject to Rule 17a-5 promulgated by the Securities and Exchange Commission (17 C.F.R. §240.17a-5, "Reports to be made by certain brokers and dealers"). This Exemption Report was prepared as required by 17 C.F.R. § 240.17a-5(d)(1) and (4). To the best of its knowledge and belief, the Company states the following:

(1) The Company does not claim an exemption under paragraph (k) of 17 C.F.R. § 240. 15c3-3, and

(2) The Company is filing this Exemption Report relying on Footnote 74 of the SEC Release No. 34-70073 adopting amendments to 17 C.F.R. § 240.17a-5 because the Company limits its business activities exclusively to (1) proprietary trading; (2) mutual fund underwriter or sponsor; (3) mutual fund retailer; (4) broker dealer selling variable life insurance or annuities; (5) private placement of securities; (6) distributor of funds traded on the securities exchanges; and (7) broker or dealer of municipal security funds, and the Company (1) did not directly or indirectly receive, hold, or otherwise owe funds or securities for or to customers; (2) did not carry accounts of or for customers; and (3) did not carry PAB accounts (as defined in Rule 15c3-3) throughout the most recent fiscal year without exception.

NYLIFE Distributors LLC

I, Marta Hansen, swear that, to my best knowledge and belief, this Exemption Report is true and correct.

Title: Chief Financial Officer

February 24, 2023

**Attachment 3:** `nyldspic7.pdf`

pwc

# Report of Independent Accountants

To the Management and the Board of Managers of NYLIFE Distributors LLC

We have performed the procedures included in Rule 17a-5(e)(4) under the Securities Exchange Act of 1934 and in the Securities Investor Protection Corporation (“SIPC”) Series 600 Rules, which are enumerated below, on the accompanying General Assessment Reconciliation (Form SIPC-7) of NYLIFE Distributors LLC (the “Company”) for the year ended December 31, 2022. Management of NYLIFE Distributors LLC is responsible for its Form SIPC-7 and for its compliance with the applicable instructions on Form SIPC-7.

In an agreed-upon procedures engagement, we perform specific procedures that the Company has agreed to and acknowledged to be appropriate for the intended purpose of the engagement and we report on findings based on the procedures performed. Management of the Company has agreed to and acknowledged that the procedures performed are appropriate to meet the intended purpose of assisting you and SIPC in evaluating the Company’s compliance with the applicable instructions on Form SIPC-7 for the year ended December 31, 2022. Additionally, SIPC has agreed to and acknowledged that the procedures performed are appropriate for their intended purpose. This report may not be suitable for any other purpose. The procedures performed may not address all the items of interest to a user of this report and may not meet the needs of all users of this report and, as such, users are responsible for determining whether the procedures performed are appropriate for their purposes. The sufficiency of these procedures is solely the responsibility of those parties specified in this report. Consequently, we make no representation regarding the sufficiency of the procedures described below either for the purpose for which this report has been requested or for any other purpose.

The procedures we performed and the associated findings are as follows:

1. Compared the Total Revenue amount reported on page 4 of the Annual Audited Report Form X-17A-5 Part III for the year ended December 31, 2022 to the Total revenue amount of $137,265,181 reported on page 2, item 2a of Form SIPC-7 for the year ended December 31, 2022, noting no differences.
2. Compared any adjustments reported on page 2, items 2b and 2c of Form SIPC-7 with the supporting schedules and working papers, as follows:
   a. Compared additions on line 7 of 2b, Net loss from securities in investment accounts, of $646,513 to the sum of the following Trial Balance accounts: Investment Income Mutual Funds (Trial Balance Account Number 40703025), Investment Income Short Term Investment Interest (Trial Balance Account Number 40709005), and Mark to Market Gain Loss Mutual Funds (Trial Balance Account Number 56303030), provided by Marta Hansen, Director - Mainstay Investments Retail Finance New York Life Investment, noting no differences.
   b. Compared deductions on line 1 of 2c, Revenues from the distribution of shares of a registered open end investment company or unit investment trust, from the sale of variable annuities, from the business of insurance, from investment advisory services rendered to registered investment companies or insurance company separate accounts, and from transaction in security futures products, of $134,718,219 to the sum of the

PricewaterhouseCoopers LLP, 300 Madison Avenue, New York, NY 10017-6204
T: (646) 471 3000, www.pwc.com/us

following Trial Balance Accounts: Concession Income (Trial Balance Account Number 41701005), Concession Income Securities (Trial Balance Account Number 41701010), Concession Income Underwriter Securities (Trial Balance Account Number 41701020), Concession Income OBD (Trial Balance Account Number 41701015), Concession Income Underwriter OBD (Trial Balance Account Number 41701025), 12B-1 Fee Income (Trial Balance Account Number 42101005), Intercompany Income Service Fee (Trial Balance Account Number 45004005), Intercompany Income AUM Service Fees (Trial Balance Account Number 45004025), Service Fee Income - Distributors (Trial Balance Account Number 42101010), provided by Marta Hansen, Director - Mainstay Investments Retail Finance New York Life Investment, noting no differences.

c. Compared deductions on line 3 of 2c, Commissions, floor brokerage and clearance paid to other SIPC members in connections with securities transactions, of $77,730,657 to the sum of the following Trial Balance Accounts: Finder Fees (Trial Balance Account Number 51705020), Trail Expense (Trial Balance Account Number 51705025), Commission Expense (Trial Balance Account Number 51705005), Gating Fee (Trial Balance Account Number 51705030), Intercompany Expense Service Fee (Trial Balance Account Number 55004005), Intercompany Expense AUM Service Fees (Trial Balance Account Number 55004025), Intercompany Commission Expense (Trial Balance Account Number 55007005), Intercompany Commission Expense Finder Fee (Trial Balance Account Number 55007010), and Intercompany Commission Trail Expense (Trial Balance Account Number 55007020), provided by Marta Hansen, Director - Mainstay Investments Retail Finance New York Life Investment, noting no differences.

d. Compared deductions on line 7 of 2c, Direct expenses of printing, advertising and legal fees incurred in connection with other revenue related to the securities business (revenue defined by Section 16(9)(L) of the Act), of $2,045,866 to the sum of the following Trial Balance Accounts: Advertising General Fixed (Trial Balance Account Number 60701005), Advertising General Variable (Trial Balance Account Number 60701010), Agent and Management Training Materials (Trial Balance Account Number 61801010), Postage Fixed (Trial Balance Account Number 60801015), Postage Variable (Trial Balance Account Number 60801020), General Printing Fixed (Trial Balance Account Number 60801035), General Printing Variable (Trial Balance Account Number 60801040), Legal Fees Non- Litigation (Trial Balance Account Number 60401025), Sales Promotion Advertising Fixed (Trial Balance Account Number 60701025), Sales Promotion Advertising Variable (Trial Balance Account Number 60701030), Sales Promotion All Other (Trial Balance Account Number 60701045), Sales Promotion Marketing Fixed (Trial Balance Account Number 60701035), Advertising Agency Fees (Trial Balance Account Number 60701060), Sales Promotion Marketing Variable (Trial Balance Account Number 60701040), Sales Promotion Sports and Entertainment (Trial Balance Account Number 60701050), Shipping Fixed (Trial Balance Account Number 60801025), Shipping Variable (Trial Balance Account Number 60801030), Kick Off Meeting (Trial Balance Account Number 61901040), Kick Off Meeting Meals (Trial Balance Account Number 61901065), Advertising Media (Trial Balance Account Number 60701070), Printers Purchase (Trial Balance Account Number 60903025), Prepaid Purchase Market Data Services (Trial Balance Account Number 61501035), and Legal Fees Investments & Non OGC (Trial Balance Account Number 60401005), provided by Marta Hansen, Director - Mainstay Investments Retail Finance New York Life Investment, noting no differences.

2

3. Recalculated the arithmetical accuracy of the calculations reflected in Form SIPC-7 and in the related schedules and working papers obtained in procedure 3, as follows:

   a. Recalculated the mathematical accuracy of the SIPC Net Operating Revenues on page 2, line 2d and the General Assessment @ .0015 on page 2, line 2e of $(76,583,048) and $0, respectively of the Form SIPC-7, noting no differences.

   b. Recalculated the mathematical accuracy of Total additions and Total deductions on page 2 of Form SIPC-7 for $646,513 and $214,494,742, respectively, noting no differences.

4. Compared the amount of any overpayment applied to the current assessment on page 1, item 2C of Form SIPC-7 with page 1, item 2H of the Form SIPC-7 filed for the prior period ended December 31, 2021 on which it was originally computed, noting no differences.

We were engaged by the Company to perform this agreed-upon procedures engagement and conducted our engagement in accordance with attestation standards established by the American Institute of Certified Public Accountants and in accordance with the standards of the Public Company Accounting Oversight Board (United States). We were not engaged to, and did not conduct an examination or review engagement, the objective of which would be the expression of an opinion or conclusion, respectively, on the Company's Form SIPC-7 and on its compliance with the applicable instructions on Form SIPC-7 for the year ended December 31, 2022. Accordingly, we do not express such an opinion or conclusion. Had we performed additional procedures, other matters might have come to our attention that would have been reported to you.

We are required to be independent of the Company and to meet our other ethical responsibilities in accordance with the relevant ethical requirements related to our agreed-upon procedures engagement.

This report is intended solely for the information and use of management and the Board of Managers of NYLIFE Distributors LLC and the Securities Investor Protection Corporation and is not intended to be, and should not be, used by anyone other than these specified parties.

February 24, 2023

3

**SIPC-7**

(36-REV 12/18)

SECURITIES INVESTOR PROTECTION CORPORATION

Mail Code: 8967 P.O. Box 7247 Philadelphia, PA 19170-0001

General Assessment Reconciliation

2022

For the fiscal year ended

(Read carefully the instructions in your Working Copy before completing this Form)

**TO BE FILED BY ALL SIPC MEMBERS WITH FISCAL YEAR ENDINGS**

1. Name of Member, address, Designated Examining Authority, 1934 Act registration no. and month in which fiscal year ends for purposes of the audit requirement of SEC Rule 17a-5:

NYLIFE Distributors LLC
Attn: Marta Hansen
30 Hudson Street
Jersey City, NJ 07302-4600

Note: If any of the information shown on the mailing label requires correction, please e-mail any corrections to form@sipc.org and so indicate on the form filed.

Name and telephone number of person to contact respecting this form.

Marta Hansen (201) 685-6215

2. A. General Assessment (item 2e from page 2) $0
B. Less payment made with SIPC-6 filed (exclude interest) ( )
Date Paid
C. Less prior overpayment applied ( 150.00 )
D. Assessment balance due or (overpayment) (150,00)
E. Interest computed on late payment (see instruction E) for _____ days at 20% per annum
F. Total assessment balance and interest due (or overpayment carried forward) $(150.00)
G. PAYMENT: ☑ the box
Check mailed to P.O. Box ☐ Funds Wired ☐ ACH ☐
Total (must be same as F above) $0
H. Overpayment carried forward $( 150.00 )

3. Subsidiaries (S) and predecessors (P) included in this form (give name and 1934 Act registration number):

The SIPC member submitting this form and the person by whom it is executed represent thereby that all information contained herein is true, correct and complete.

New York Life Distributors llc

(Name of Corporation, Partnership or other organization)

(Authorized Signature)

Dated the 23 day of February , 20 23 .

Chief Financial Officer

(Title)

This form and the assessment payment is due 60 days after the end of the fiscal year. Retain the Working Copy of this form for a period of not less than 6 years, the latest 2 years in an easily accessible place.

**SIPC REVIEWER**

Dates:

Postmarked

Received

Reviewed

Calculations _____

Documentation _____

Forward Copy _____

Exceptions:

Disposition of exceptions:

1

# DETERMINATION OF "SIPC NET OPERATING REVENUES"
AND GENERAL ASSESSMENT

Amounts for the fiscal period
beginning 1/1/2022
and ending 12/31/2022

Item No.

2a. Total revenue (FOCUS Line 12/Part IIA Line 9, Code 4030)

Eliminate cents
$137,265,181

2b. Additions:

(1) Total revenues from the securities business of subsidiaries (except foreign subsidiaries) and predecessors not included above.
(2) Net loss from principal transactions in securities in trading accounts.
(3) Net loss from principal transactions in commodities in trading accounts.
(4) Interest and dividend expense deducted in determining item 2a.
(5) Net loss from management of or participation in the underwriting or distribution of securities.
(6) Expenses other than advertising, printing, registration fees and legal fees deducted in determining net profit from management of or participation in underwriting or distribution of securities.
(7) Net loss from securities in investment accounts.

646,513

Total additions

646,513

2c. Deductions:

(1) Revenues from the distribution of shares of a registered open end investment company or unit investment trust, from the sale of variable annuities, from the business of insurance, from investment advisory services rendered to registered investment companies or insurance company separate accounts, and from transactions in security futures products.
(2) Revenues from commodity transactions.
(3) Commissions, floor brokerage and clearance paid to other SIPC members in connection with securities transactions.
(4) Reimbursements for postage in connection with proxy solicitation.
(5) Net gain from securities in investment accounts.
(6) 100% of commissions and markups earned from transactions in (i) certificates of deposit and (ii) Treasury bills, bankers acceptances or commercial paper that mature nine months or less from issuance date.
(7) Direct expenses of printing advertising and legal fees incurred in connection with other revenue related to the securities business (revenue defined by Section 16(9)(L) of the Act).
(8) Other revenue not related either directly or indirectly to the securities business.
(See Instruction C):

134,718,219

77,730,657

2,045,866

(Deductions in excess of $100,000 require documentation)

(9) (i) Total interest and dividend expense (FOCUS Line 22/PART IIA Line 13, Code 4075 plus line 2b(4) above) but not in excess of total interest and dividend income.

$

(ii) 40% of margin interest earned on customers securities accounts (40% of FOCUS line 5, Code 3960).

$

Enter the greater of line (i) or (ii)

Total deductions

214,494,742

(76,583,048)

2d. SIPC Net Operating Revenues

$0

2e. General Assessment @ .0015

$0

(to page 1, line 2.A.)

2

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

## FORM X-17A-5

### ANNUAL AUDITED REPORT

### Filer Information

**Filer CIK:** 0000914898

**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:** NYLIFE DISTRIBUTORS LLC

**Business Address:** 30 HUDSON STREET, THIRD FLOOR, COMPLIANCE, JERSEY CITY, NJ, 07302

**Contact Person:** marta hansen

**Contact Phone:** 9177480162

### Independent Public Accountant Identification

**Accountant Name:** Pricewaterhouse Coopers

**Accountant Address:** 300 Madison avenue, new york, NY, 10017

**Accountant Type:** Certified Public Accountant

### OATH OR AFFIRMATION

I, **marta hansen**, swear (or affirm) that, to the best of my knowledge and belief, the accompanying financial statements and supporting schedules pertaining to the firm of **NYLIFE DISTRIBUTORS LLC**, as of **12-31-2022**, are true and correct.

**Signature:** Marta Hansen

**Title:** Chief Financial Officer & Controller

**Notarized:** Yes