UNITED STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
DC 20549
FORM 8-K
CURRENT
REPORT
PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES
EXCHANGE ACT OF 1934
Date
of Report (Date of earliest event reported):
March
13, 2012
ANNALY CAPITAL MANAGEMENT, INC. |
(Exact name of registrant as specified in its charter) |
Maryland |
1-13447 |
22-3479661 |
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(State
or Other Jurisdiction |
(Commission File Number) |
(IRS
Employer |
1211 Avenue of the Americas Suite 2902 New York, New York |
10036 |
|
(Address of principal executive offices) |
(Zip Code) |
Registrant’s
telephone number, including area code: (212) 696-0100
No Change
(Former
Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
⃞ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
⃞ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
⃞ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
⃞ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 4.01 Changes in Registrant’s Certifying Accountant.
(a) Dismissal of Independent Registered Public Accounting Firm
On March 13, 2012, the Audit Committee (the “Audit Committee”) of the Board of Directors of Annaly Capital Management, Inc. (the “Company”) approved the dismissal of Deloitte & Touche LLP (“Deloitte”) as the Company’s independent registered public accounting firm, effective immediately.
Deloitte’s report on the Company’s consolidated financial statements for the fiscal years ended December 31, 2011 and 2010 did not contain any adverse opinion or disclaimer of opinion, nor was such report qualified or modified as to uncertainty, audit scope or accounting principles.
During the two fiscal years ended December 31, 2011 and 2010 and through March 13, 2012, there were (i) no disagreements (as that term is defined in Item 304(a)(1)(iv) of Regulation S-K and the related instructions) between the Company and Deloitte on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which, if not resolved to the satisfaction of Deloitte would have caused Deloitte to make reference thereto in its reports on the Company’s consolidated financial statements for such years, and (ii) no “reportable events” (as that term is defined in Item 304(a)(1)(v) of Regulation S-K).
On March 13, 2012, the Company provided Deloitte with a copy of this Form 8-K and requested that Deloitte provide the Company with a letter addressed to the Securities and Exchange Commission stating whether or not Deloitte agrees with the above disclosures. A copy of Deloitte’s letter, dated March 13, 2012, is attached as Exhibit 16.1 to this Form 8-K.
(b) Newly Engaged Independent Registered Public Accounting Firm
On March 13, 2012, the Audit Committee approved the appointment of Ernst & Young LLP (“Ernst & Young”) as the Company’s new independent registered public accounting firm, effective immediately, to perform independent audit services for the fiscal year ended December 31, 2012 (including with respect to the Company’s quarterly period ended March 31, 2012). During the two fiscal years ended December 31, 2011 and 2010 and through March 13, 2012, neither the Company, nor anyone on its behalf, consulted Ernst & Young regarding either (i) the application of accounting principles to a specified transaction, either completed or proposed, or the type of audit opinion that might be rendered with respect to the consolidated financial statements of the Company, and no written report or oral advice was provided to the Company by Ernst & Young that was an important factor considered by the Company in reaching a decision as to any accounting, auditing or financial reporting issue; or (ii) any matter that was the subject of a disagreement (as that term is defined in Item 304(a)(1)(iv) of Regulation S-K and the related instructions) or a “reportable event” (as that term is defined in Item 304(a)(1)(v) of Regulation S-K).
Item 9.01. Financial Statements and Exhibits.
(a) Not applicable.
(b) Not applicable.
(c) Not applicable.
(d) Exhibits:
16.1 Letter from Deloitte & Touche LLP to the Securities and Exchange Commission, dated March 13, 2012.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Annaly Capital Management, Inc. |
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By: |
/s/ Kathryn Fagan |
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Name: |
Kathryn Fagan |
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Title: |
Chief Financial Officer |
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Date: |
March 19, 2012 |
Exhibit 16.1
March 13, 2012 |
Securities and Exchange Commission |
100 F Street, N.E. |
Washington, D.C. 20549-7561 |
Dear Sirs/Madams:
We have read Item 4.01(a) of Annaly Capital Management, Inc.’s Form 8-K dated March 13, 2012, and have the following comments:
1. We agree with the statements made in the second, third and fourth paragraphs.
2. We have no basis on which to agree or disagree with the statement made in the first paragraph.
We read Item 4.01 (b) of Annaly Capital Management, Inc.’s Form 8-K dated March 13, 2012 and have no basis on which to agree or disagree with the statements made in Item 4.01(b).
Yours truly,
/s/ Deloitte & Touche LLP
New York, New York