As Of               Filer                 Filing    For·On·As Docs:Size             Issuer

 8/31/22  California First Leasing Corp.    40-17F2     8/31/22    1:202K California First Leasing Corp.

Document/Exhibit                   Description                      Pages   Size 

 1: 40-17F2     Cfnb N-17F2 20220630                                HTML    192K 

SEC’s Collection of Information

 

An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information unless it displays a currently valid 0MB control number.   Filing of Form N-17f-2 is mandatory for an investment company that has custody of securities or similar investments. Rule 17f-2 under section 17(f) of the Investment Company Act of 1940 requires the investment company to retain an independent public accountant to verify the company's securities and similar investments by actual examination three times during each fiscal year. The accountant must prepare a certificate stating that the examination has occurred and describing the examination, and must transmit the certificate to the Commission with Form N-17f-2 as a cover sheet.   The Commission uses the Form to ensure that the certificate is properly attributed to the investment company. The Commission estimates that the burden of completing Form N-17f-2 is approximately 1.0 hours per filing. Any member of the public may direct to the Commission any comments concerning the accuracy of the burden estimate of this Form, and any suggestions for reducing this burden. This collection of information has been reviewed by the Office of Management and Budget in accordance with the clearance requirements of 44 U.S.C. B 3507. Responses to this collection of information will not be kept confidential.

 

 

 

 

 

 

Management Statement Regarding Compliance

With Certain Provisions of the

Investment Company Act of 1940

 

 

 

 

August 18, 2022

 

 

We, as members of management of California First Leasing Corporation (the Corporation), are responsible for complying with the requirements of subsections (b) and (c) of Rule 17f-2, “Custody of   Investments by Registered Management Investment Companies”, of the Investment Company Act of      1940. We are also responsible for establishing and maintaining effective internal controls over compliance with those requirements. We have performed an evaluation of the Corporation’s compliance with the requirements of subsections (b) and (c) of Rule 17f-2 as of June 30, 2022 and for the period from February 23, 2022 (date of registration as an investment company) through June 30, 2022.

 

Based on this evaluation, we assert that California First Leasing Corporation was in compliance with the requirements of subsections (b) and (c) of Rule 17f-2 of the Investment Company Act of 1940 as of June 30, 2022 and for the period from February 23, 2022 through June 30, 2022 with respect to securities and  similar investments reflected in the investment accounts of the Corporation.

 

 

 

/s/ Patrick Paddon, CEO

/s/ Leslie Jewett, CFO

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Report of Independent Registered Public Accounting Firm

 

To the Board of Directors

California First Leasing Corporation

Newport Beach, California

 

We have examined management’s assertion, included in the accompanying Management Statement Regarding Compliance with Certain Provisions of the Investment Company Act of 1940, that California First Leasing Corporation (the Corporation), complied with the requirements of subsections (b) and (c) of  Rule 17f-2 under the Investment Company Act of 1940 (the Act) as of June 30, 2022 and from February 23, 2022 (date of registration as an investment company) through June 30, 2022. Management is responsible for its assertion about compliance with the requirements of subsections (b) and (c) of Rule 17f-2 of the Act (the specific requirements). Our responsibility is to express an opinion on management’s assertion about the Corporation’s compliance with the specified requirements based on our examination.

 

Our examination was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants. Those standards require that we plan and perform the examination to obtain reasonable assurance about whether management’s assertion about compliance   with the specified requirements is fairly stated, in all material respects. An examination involves performing procedures to obtain evidence about whether management’s assertion is fairly stated in all material respects. The nature, timing, and extent of the procedures selected depend on our judgment, including an assessment of the risks of material misstatement of management’s assertion whether due to fraud or error. We believe that the evidence we obtained is sufficient and appropriate to provide a reasonable basis for our opinion.

 

We are required to be independent and to meet our other ethical responsibilities in accordance with  relevant ethical requirements relating to the engagement.

 

Included among our procedures were the following tests performed as of June 30, 2022, and with respect to agreement of equity security purchases and sales, for the period from February 23, 2022  (date of registration as an investment company) through June 30, 2022.

·         Confirmation of all equity securities held by Wells Fargo, custodian in book entry form.

·         Confirmation of bank deposit and money market accounts with custodian.

·         Reconciliation of all equity security, bank deposit and money market accounts to the books and    records of the Corporation and custodian.

·         Agreement of five security purchases and five security sales to the books and records of the      Corporation and related broker confirmations.

 

We believe our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on the Corporation’s compliance with the specific requirements.

 

 

In our opinion, management’s assertion that the Corporation complied with the requirements of subsection (b) and (c) of Rule 17f-2 of the Investment Company Act of 1940 as of June 30, 2022 and from February 23, 2022 through June 30, 2022 with respect to securities and similar investments reflected in the investment accounts of the Corporation, is fairly stated, in all material respects.

 

This report is intended solely for the information and use of management and the Board of Directors of California First Leasing Corporation and the Securities and Exchange Commission and is not intended to be and should not be used by anyone other than these specified parties.

 

 

 

 

Laguna Hills, California

August 18, 2022

 

 

 

 

 

 

 

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