average commission per retail trade represents the average commission generated for all types of retail customer trades . retail customer net worth represents the total value of securities and cash in the retail customer accounts before deducting margin debits . retail customer money market fund value represents all retail customers accounts invested in money market funds . retail customer margin debit balances represents credit extended to our customers to finance their purchases against current positions . retail customer accounts with positions represent retail customers with cash and or securities in their accounts . we , like other securities firms , are directly affected by general economic and market conditions including fluctuations in volume and prices of securities , changes and the prospect of changes in interest rates , and demand for brokerage and investment banking services , all of which can affect our profitability . in addition , in periods of reduced financial market activity , profitability is likely to be adversely affected because certain expenses remain relatively fixed , including salaries and related costs , portions of communications costs and occupancy expenses . accordingly , earnings for any period should not be considered representative of earnings to be expected for any other period . 21 competition continues to intensify among all types of brokerage firms , including established discount brokers and new firms entering the on-line brokerage business . electronic trading continues to account for an increasing amount of trading activity , with some firms charging very low trading execution fees that are difficult for any conventional discount firm to meet . some of these brokers , however , impose asset based charges for services such as mailing , transfers and handling exchanges which we do not currently impose , and also direct their orders to market makers where they have a financial interest . continued competition could limit our growth or even lead to a decline in our customer base , which would adversely affect our results of operations . industry-wide changes in trading practices , such as the continued use of electronic communications networks , are expected to put continuing pressure on commissions/fees earned by brokers while increasing volatility . the company 's advisornxt subsidiary offers to its clients the company 's robo investment advisor platform which utilizes a proprietary trading algorithm licensed from an affiliate , kca technologies , a wholly-owned subsidiary of kca . the company , consistent with industry developments , intends to offer access to this technology to its customers through advisornxt . investment advisor representatives will assist each client in reviewing information about the programs , completing a client questionnaire to determine the client 's risk tolerance , financial situation and investment objectives and selecting an investment strategy . during 2017 , the revenues of the advisornxt 's operations were immaterial to the company 's revenues . critical accounting policies we generally follow accounting policies standard in the brokerage industry and believe that our policies appropriately reflect our financial position and results of operations . our management makes significant estimates that affect the reported amounts of assets , liabilities , revenues and expenses and the related disclosure of contingent assets and liabilities included in the financial statements . the estimates relate primarily to revenue and expense items in the normal course of business as to which we receive no confirmations , invoices , or other documentation , at the time the books are closed for a period . we use our best judgment , based on our knowledge of revenue transactions and expenses incurred , to estimate the amount of such revenue and expenses . we are not aware of any material differences between the estimates used in closing our books for the last five years and the actual amounts of revenue and expenses incurred when we subsequently receive the actual confirmations , invoices or other documentation . 22 results of operations year ended december 31 , 2017 compared to year ended december 31 , 2016 revenues . total revenues for 2017 were $ 13,110,000 , an increase of $ 3,298,000 , or 33.6 % from the prior year , primarily due to including revenue of approximately $ 1.6 million arising out of the assets purchased from stockcross and other interest bearing earnings . commission and fee income increased $ 3,139,000 or 37.8 % from the prior year , to $ 11,433,000 primarily due to the stockcross asset acquisition and an increase in fees from our money management activity and market rate increases . trading gains increased $ 718,000 , or 78.0 % to $ 1,639,000 from the prior year , primarily due to the stockcross asset acquisition . income from interest and dividends decreased $ 532,000 , or 96.6 % , to $ 19,000 from the prior year due to the distribution of interest bearing assets at the end of 2016. expenses . total expenses for 2017 were $ 10.8 million , a decrease of $ 4.6 million or 29.9 % from the prior year , primarily due to non-recurring expenses of $ 2,205,000 associated with the change of control of the company in december 2016 and modified cost structure . employee compensation and benefit costs increased $ 192,000 , or 3.9 % , from the prior year to $ 5.1 million , primarily due to an increase in the number of employees resulting from the stockcross asset acquisition . clearing fees increased $ 165,000 , or 19.1 % , from the prior year to $ 1,031,000 , primarily due to expense associated with the stockcross asset acquisition . professional fees decreased $ 1,323,000 , or 38.3 % from the prior year to $ 2.1 million , primarily due to fees associated with the change of control of the company and additional one-time non-recurring professional fees . communications expense decreased $ 204,000 , or 44.2 % from the prior year to $ 258,000 , primarily due to a reduction in expenses associated with quote usage . occupancy costs decreased $ 309,000 story_separator_special_tag average commission per retail trade represents the average commission generated for all types of retail customer trades . retail customer net worth represents the total value of securities and cash in the retail customer accounts before deducting margin debits . retail customer money market fund value represents all retail customers accounts invested in money market funds . retail customer margin debit balances represents credit extended to our customers to finance their purchases against current positions . retail customer accounts with positions represent retail customers with cash and or securities in their accounts . we , like other securities firms , are directly affected by general economic and market conditions including fluctuations in volume and prices of securities , changes and the prospect of changes in interest rates , and demand for brokerage and investment banking services , all of which can affect our profitability . in addition , in periods of reduced financial market activity , profitability is likely to be adversely affected because certain expenses remain relatively fixed , including salaries and related costs , portions of communications costs and occupancy expenses . accordingly , earnings for any period should not be considered representative of earnings to be expected for any other period . 21 competition continues to intensify among all types of brokerage firms , including established discount brokers and new firms entering the on-line brokerage business . electronic trading continues to account for an increasing amount of trading activity , with some firms charging very low trading execution fees that are difficult for any conventional discount firm to meet . some of these brokers , however , impose asset based charges for services such as mailing , transfers and handling exchanges which we do not currently impose , and also direct their orders to market makers where they have a financial interest . continued competition could limit our growth or even lead to a decline in our customer base , which would adversely affect our results of operations . industry-wide changes in trading practices , such as the continued use of electronic communications networks , are expected to put continuing pressure on commissions/fees earned by brokers while increasing volatility . the company 's advisornxt subsidiary offers to its clients the company 's robo investment advisor platform which utilizes a proprietary trading algorithm licensed from an affiliate , kca technologies , a wholly-owned subsidiary of kca . the company , consistent with industry developments , intends to offer access to this technology to its customers through advisornxt . investment advisor representatives will assist each client in reviewing information about the programs , completing a client questionnaire to determine the client 's risk tolerance , financial situation and investment objectives and selecting an investment strategy . during 2017 , the revenues of the advisornxt 's operations were immaterial to the company 's revenues . critical accounting policies we generally follow accounting policies standard in the brokerage industry and believe that our policies appropriately reflect our financial position and results of operations . our management makes significant estimates that affect the reported amounts of assets , liabilities , revenues and expenses and the related disclosure of contingent assets and liabilities included in the financial statements . the estimates relate primarily to revenue and expense items in the normal course of business as to which we receive no confirmations , invoices , or other documentation , at the time the books are closed for a period . we use our best judgment , based on our knowledge of revenue transactions and expenses incurred , to estimate the amount of such revenue and expenses . we are not aware of any material differences between the estimates used in closing our books for the last five years and the actual amounts of revenue and expenses incurred when we subsequently receive the actual confirmations , invoices or other documentation . 22 results of operations year ended december 31 , 2017 compared to year ended december 31 , 2016 revenues . total revenues for 2017 were $ 13,110,000 , an increase of $ 3,298,000 , or 33.6 % from the prior year , primarily due to including revenue of approximately $ 1.6 million arising out of the assets purchased from stockcross and other interest bearing earnings . commission and fee income increased $ 3,139,000 or 37.8 % from the prior year , to $ 11,433,000 primarily due to the stockcross asset acquisition and an increase in fees from our money management activity and market rate increases . trading gains increased $ 718,000 , or 78.0 % to $ 1,639,000 from the prior year , primarily due to the stockcross asset acquisition . income from interest and dividends decreased $ 532,000 , or 96.6 % , to $ 19,000 from the prior year due to the distribution of interest bearing assets at the end of 2016. expenses . total expenses for 2017 were $ 10.8 million , a decrease of $ 4.6 million or 29.9 % from the prior year , primarily due to non-recurring expenses of $ 2,205,000 associated with the change of control of the company in december 2016 and modified cost structure . employee compensation and benefit costs increased $ 192,000 , or 3.9 % , from the prior year to $ 5.1 million , primarily due to an increase in the number of employees resulting from the stockcross asset acquisition . clearing fees increased $ 165,000 , or 19.1 % , from the prior year to $ 1,031,000 , primarily due to expense associated with the stockcross asset acquisition . professional fees decreased $ 1,323,000 , or 38.3 % from the prior year to $ 2.1 million , primarily due to fees associated with the change of control of the company and additional one-time non-recurring professional fees . communications expense decreased $ 204,000 , or 44.2 % from the prior year to $ 258,000 , primarily due to a reduction in expenses associated with quote usage . occupancy costs decreased $ 309,000

liquidity and capital resources our working capital is invested in cash and money market funds . our total assets at december 31 , 2017 were $ 6.0 million , of which we regarded $ 3.8 million , or 62.0 % , as highly liquid . msco is subject to the net capital requirements of the sec , the nyse and other regulatory authorities . at december 31 , 2017 , msco 's regulatory net capital was $ 4.4 million , which was $ 4,189,000 in excess of its minimum capital requirement of $ 250,000. contractual obligations below is a table that presents our obligations and commitments at december 31 , 2017 : replace_table_token_5_th 23 off-balance sheet arrangements retail customer transactions are cleared through clearing brokers on a fully disclosed basis . if customers do not fulfill their contractual obligations , the clearing broker may charge siebert for any loss incurred in connection with the purchase or sale of securities at prevailing market prices to satisfy the customer obligations . siebert regularly monitors the activity in its customer accounts for compliance with its margin requirements . siebert is exposed to the risk of loss on unsettled customer transactions if customers and other counterparties are unable to fulfill their contractual obligations . there were no material losses for unsettled customer transactions in 2017. item


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```liquidity and capital resources our working capital is invested in cash and money market funds . our total assets at december 31 , 2017 were $ 6.0 million , of which we regarded $ 3.8 million , or 62.0 % , as highly liquid . msco is subject to the net capital requirements of the sec , the nyse and other regulatory authorities . at december 31 , 2017 , msco 's regulatory net capital was $ 4.4 million , which was $ 4,189,000 in excess of its minimum capital requirement of $ 250,000. contractual obligations below is a table that presents our obligations and commitments at december 31 , 2017 : replace_table_token_5_th 23 off-balance sheet arrangements retail customer transactions are cleared through clearing brokers on a fully disclosed basis . if customers do not fulfill their contractual obligations , the clearing broker may charge siebert for any loss incurred in connection with the purchase or sale of securities at prevailing market prices to satisfy the customer obligations . siebert regularly monitors the activity in its customer accounts for compliance with its margin requirements . siebert is exposed to the risk of loss on unsettled customer transactions if customers and other counterparties are unable to fulfill their contractual obligations . there were no material losses for unsettled customer transactions in 2017. item
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 Suspicious Activity Report : average commission per retail trade represents the average commission generated for all types of retail customer trades . retail customer net worth represents the total value of securities and cash in the retail customer accounts before deducting margin debits . retail customer money market fund value represents all retail customers accounts invested in money market funds . retail customer margin debit balances represents credit extended to our customers to finance their purchases against current positions . retail customer accounts with positions represent retail customers with cash and or securities in their accounts . we , like other securities firms , are directly affected by general economic and market conditions including fluctuations in volume and prices of securities , changes and the prospect of changes in interest rates , and demand for brokerage and investment banking services , all of which can affect our profitability . in addition , in periods of reduced financial market activity , profitability is likely to be adversely affected because certain expenses remain relatively fixed , including salaries and related costs , portions of communications costs and occupancy expenses . accordingly , earnings for any period should not be considered representative of earnings to be expected for any other period . 21 competition continues to intensify among all types of brokerage firms , including established discount brokers and new firms entering the on-line brokerage business . electronic trading continues to account for an increasing amount of trading activity , with some firms charging very low trading execution fees that are difficult for any conventional discount firm to meet . some of these brokers , however , impose asset based charges for services such as mailing , transfers and handling exchanges which we do not currently impose , and also direct their orders to market makers where they have a financial interest . continued competition could limit our growth or even lead to a decline in our customer base , which would adversely affect our results of operations . industry-wide changes in trading practices , such as the continued use of electronic communications networks , are expected to put continuing pressure on commissions/fees earned by brokers while increasing volatility . the company 's advisornxt subsidiary offers to its clients the company 's robo investment advisor platform which utilizes a proprietary trading algorithm licensed from an affiliate , kca technologies , a wholly-owned subsidiary of kca . the company , consistent with industry developments , intends to offer access to this technology to its customers through advisornxt . investment advisor representatives will assist each client in reviewing information about the programs , completing a client questionnaire to determine the client 's risk tolerance , financial situation and investment objectives and selecting an investment strategy . during 2017 , the revenues of the advisornxt 's operations were immaterial to the company 's revenues . critical accounting policies we generally follow accounting policies standard in the brokerage industry and believe that our policies appropriately reflect our financial position and results of operations . our management makes significant estimates that affect the reported amounts of assets , liabilities , revenues and expenses and the related disclosure of contingent assets and liabilities included in the financial statements . the estimates relate primarily to revenue and expense items in the normal course of business as to which we receive no confirmations , invoices , or other documentation , at the time the books are closed for a period . we use our best judgment , based on our knowledge of revenue transactions and expenses incurred , to estimate the amount of such revenue and expenses . we are not aware of any material differences between the estimates used in closing our books for the last five years and the actual amounts of revenue and expenses incurred when we subsequently receive the actual confirmations , invoices or other documentation . 22 results of operations year ended december 31 , 2017 compared to year ended december 31 , 2016 revenues . total revenues for 2017 were $ 13,110,000 , an increase of $ 3,298,000 , or 33.6 % from the prior year , primarily due to including revenue of approximately $ 1.6 million arising out of the assets purchased from stockcross and other interest bearing earnings . commission and fee income increased $ 3,139,000 or 37.8 % from the prior year , to $ 11,433,000 primarily due to the stockcross asset acquisition and an increase in fees from our money management activity and market rate increases . trading gains increased $ 718,000 , or 78.0 % to $ 1,639,000 from the prior year , primarily due to the stockcross asset acquisition . income from interest and dividends decreased $ 532,000 , or 96.6 % , to $ 19,000 from the prior year due to the distribution of interest bearing assets at the end of 2016. expenses . total expenses for 2017 were $ 10.8 million , a decrease of $ 4.6 million or 29.9 % from the prior year , primarily due to non-recurring expenses of $ 2,205,000 associated with the change of control of the company in december 2016 and modified cost structure . employee compensation and benefit costs increased $ 192,000 , or 3.9 % , from the prior year to $ 5.1 million , primarily due to an increase in the number of employees resulting from the stockcross asset acquisition . clearing fees increased $ 165,000 , or 19.1 % , from the prior year to $ 1,031,000 , primarily due to expense associated with the stockcross asset acquisition . professional fees decreased $ 1,323,000 , or 38.3 % from the prior year to $ 2.1 million , primarily due to fees associated with the change of control of the company and additional one-time non-recurring professional fees . communications expense decreased $ 204,000 , or 44.2 % from the prior year to $ 258,000 , primarily due to a reduction in expenses associated with quote usage . occupancy costs decreased $ 309,000 story_separator_special_tag average commission per retail trade represents the average commission generated for all types of retail customer trades . retail customer net worth represents the total value of securities and cash in the retail customer accounts before deducting margin debits . retail customer money market fund value represents all retail customers accounts invested in money market funds . retail customer margin debit balances represents credit extended to our customers to finance their purchases against current positions . retail customer accounts with positions represent retail customers with cash and or securities in their accounts . we , like other securities firms , are directly affected by general economic and market conditions including fluctuations in volume and prices of securities , changes and the prospect of changes in interest rates , and demand for brokerage and investment banking services , all of which can affect our profitability . in addition , in periods of reduced financial market activity , profitability is likely to be adversely affected because certain expenses remain relatively fixed , including salaries and related costs , portions of communications costs and occupancy expenses . accordingly , earnings for any period should not be considered representative of earnings to be expected for any other period . 21 competition continues to intensify among all types of brokerage firms , including established discount brokers and new firms entering the on-line brokerage business . electronic trading continues to account for an increasing amount of trading activity , with some firms charging very low trading execution fees that are difficult for any conventional discount firm to meet . some of these brokers , however , impose asset based charges for services such as mailing , transfers and handling exchanges which we do not currently impose , and also direct their orders to market makers where they have a financial interest . continued competition could limit our growth or even lead to a decline in our customer base , which would adversely affect our results of operations . industry-wide changes in trading practices , such as the continued use of electronic communications networks , are expected to put continuing pressure on commissions/fees earned by brokers while increasing volatility . the company 's advisornxt subsidiary offers to its clients the company 's robo investment advisor platform which utilizes a proprietary trading algorithm licensed from an affiliate , kca technologies , a wholly-owned subsidiary of kca . the company , consistent with industry developments , intends to offer access to this technology to its customers through advisornxt . investment advisor representatives will assist each client in reviewing information about the programs , completing a client questionnaire to determine the client 's risk tolerance , financial situation and investment objectives and selecting an investment strategy . during 2017 , the revenues of the advisornxt 's operations were immaterial to the company 's revenues . critical accounting policies we generally follow accounting policies standard in the brokerage industry and believe that our policies appropriately reflect our financial position and results of operations . our management makes significant estimates that affect the reported amounts of assets , liabilities , revenues and expenses and the related disclosure of contingent assets and liabilities included in the financial statements . the estimates relate primarily to revenue and expense items in the normal course of business as to which we receive no confirmations , invoices , or other documentation , at the time the books are closed for a period . we use our best judgment , based on our knowledge of revenue transactions and expenses incurred , to estimate the amount of such revenue and expenses . we are not aware of any material differences between the estimates used in closing our books for the last five years and the actual amounts of revenue and expenses incurred when we subsequently receive the actual confirmations , invoices or other documentation . 22 results of operations year ended december 31 , 2017 compared to year ended december 31 , 2016 revenues . total revenues for 2017 were $ 13,110,000 , an increase of $ 3,298,000 , or 33.6 % from the prior year , primarily due to including revenue of approximately $ 1.6 million arising out of the assets purchased from stockcross and other interest bearing earnings . commission and fee income increased $ 3,139,000 or 37.8 % from the prior year , to $ 11,433,000 primarily due to the stockcross asset acquisition and an increase in fees from our money management activity and market rate increases . trading gains increased $ 718,000 , or 78.0 % to $ 1,639,000 from the prior year , primarily due to the stockcross asset acquisition . income from interest and dividends decreased $ 532,000 , or 96.6 % , to $ 19,000 from the prior year due to the distribution of interest bearing assets at the end of 2016. expenses . total expenses for 2017 were $ 10.8 million , a decrease of $ 4.6 million or 29.9 % from the prior year , primarily due to non-recurring expenses of $ 2,205,000 associated with the change of control of the company in december 2016 and modified cost structure . employee compensation and benefit costs increased $ 192,000 , or 3.9 % , from the prior year to $ 5.1 million , primarily due to an increase in the number of employees resulting from the stockcross asset acquisition . clearing fees increased $ 165,000 , or 19.1 % , from the prior year to $ 1,031,000 , primarily due to expense associated with the stockcross asset acquisition . professional fees decreased $ 1,323,000 , or 38.3 % from the prior year to $ 2.1 million , primarily due to fees associated with the change of control of the company and additional one-time non-recurring professional fees . communications expense decreased $ 204,000 , or 44.2 % from the prior year to $ 258,000 , primarily due to a reduction in expenses associated with quote usage . occupancy costs decreased $ 309,000

