Sipc 7 Form – Fill Out and Use This PDF

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:

COPY

2 . A . General Assessment (item 2e from page 2)

B . Less payment made with SIPC-6 filed (exclude interest)

Date Paid

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 .

$

(

WORKING

)

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 .

(Name of Corporation, Partnership or other organization)

(Authorized Signature)

SIPC REVIEWER

Dates:

Postmarked ReceivedReviewed

Exceptions:

Disposition of exceptions:

item no.

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

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.

Total additions

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):

(9) (i) Total interest and dividend expense (FOCUS Line 22/PART IIA Line 13,

Amounts for the fiscal period

eliminate cents

$

A. For the purposes of this form, the term "SIPC Net Operating Revenues" shall mean gross revenues from the securities business as defined in or pursuant to the applicable sections of the Securities Investor Protection Act of 1970 ("Act") and Article 6 of SIPC's bylaws (see page 4), less item 2c(9) on page 2.

B. Gross revenues of subsidiaries, except foreign subsidiaries, are required to be included in SIPC Net Operating Revenues on a consolidated basis except for a subsidiary filing separately as explained hereinafter.

If a subsidiary was required to file a Rule 17a-5 annual audited statement of income separately and is also a SIPC member, then such subsidiary must itself file SIPC-7, pay the assessment, and should not be consolidated in your SIPC-7.

SIPC Net Operating Revenues of a predecessor member which are not included in item 2a, were not reported separately and the SIPC assessments were not paid thereon by such predecessor, shall be included in item 2b(1).

C. Your General Assessment should be computed as follows:

(1)Line 2a For the applicable period enter total revenue based upon amounts reported in your Rule 17a-5 Annual Audited Statement of Income prepared in conformity with generally accepted accounting principles applicable to securities brokers and dealers. or if exempted from that rule, use X-17A-5 (FOCUS Report) Line 12, Code 4030.

(2)Adjustments The purpose of the adjustments on page 2 is to determine SIPC Net Operating Revenues.

(a)Additions Lines 2b(1) through 2b(7) assure that assessable income and gain items of SIPC Net Operating Revenues are totaled, unreduced by any losses (e.g., if a net loss was incurred for the period from all transactions in trading account securities, that net loss does not reduce other assessable revenues). Thus, line 2b(4) would include all short dividend and interest payments including those incurred in reverse conversion accounts, rebates on stock loan positions and repo interest which have been netted in determining line 2(a).

(b)Deductions Line 2c(1) through line 2c(9) are either provided for in the statue, as in deduction 2c(1), or are allowed to arrive at an assessment base consisting of net operating revenues from the securities business. For example, line 2c(9) allows for a deduction of either the total of interest and dividend expense (not to exceed interest and dividend income), as reported on FOCUS line 22/PART IIA line 13 (Code 4075), plus line 2b(4) or 40% of interest earned on customers' securities accounts (40% of FOCUS Line 5 Code 3960). Be certain to complete both line (i) and (ii), entering the greater of the two in the far right column. Dividends paid to shareholders are not considered "Exp.ense" and thus are not to be included in the deduction. Likewise, interest and dividends paid to partners pursuant to the partnership agreements would also not be deducted.

If the amount reported on line 2c (8) aggregates to $1 00, 000 or greater, supporting documentation

must accompany the form that identifies these deductions. Examples of support information include; contractual agreements, prospectuses, and limited partnership documentation.

(i)Determine your SIPC Net Operating Revenues, item 2d, by adding to item 2a, the total of item 2b, and deducting the total of item 2c.

(ii)Multiply SIPC Net Operating Revenues by the applicable rate. Enter the resulting amount in item 2e and on line 2A of page 1.

(iii)Enter on line 2B the assessment due as reflected on the SIPC-6 previously filed.

(iv)Subtract line 2B and 2C from line 2A and enter the difference on line 2D. This is the balance due for the period.

(v)Enter interest computed on late payment (if applicable) on line 2E.

(vi)Enter the total due on line 2F and the payment of the amount due on line 2G.

(vii)Enter overpayment carried forward (if any) on line 2H.

D.Any SIPC member which is also a bank (as defined in the Securities Exchange Act of 1934) may exclude from SIPC Net Operating Revenues dividends and interest received on securities in its investment accounts to the extent that it can demonstrate to SIPC's satisfaction that such securities are held, and such dividends and interest are received, solely in connection with its operations as a bank and not in connection with its operations as a broker, dealer or member of a national securities exchange. Any member who excludes from SIPC Net Operating Revenues any dividends or interest pursuant to the preceding sentence shall file with this form a supplementary statement setting forth the amount so excluded and proof of its entitlement to such exclusion.

E.Interest on Assessments If all or any part of assessment payable under Section 4 of the Act has not been postmarked within 15 days after the due date thereof, the member shall pay, in addition to the amount of the assessment, interest at the rate of 20% per annum on the unpaid portion of the assessment for each day it has been overdue.

F.Securities and Exchange Commission Rule 17a-5(e)

(4)requires those who are not exempted from the audit requirement of the rule and whose gross revenues are in excess of $500,000 to file a supplemental independent public accountants report covering this SIPC-7 no later than 60 days after their fiscal year ends.

Mail this completed form to SIPC together with a

would like to wire th assessment payment please fax

a copy of thement form to (202)-371-6728 r e-mail copy to form@sipc.org and requ

wire instructions.