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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0001089355-08-000029.txt : 20080609
<SEC-HEADER>0001089355-08-000029.hdr.sgml : 20080609
<ACCEPTANCE-DATETIME>20080609152613
ACCESSION NUMBER:		0001089355-08-000029
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20080609
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20080609
DATE AS OF CHANGE:		20080609

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SIEBERT FINANCIAL CORP
		CENTRAL INDEX KEY:			0000065596
		STANDARD INDUSTRIAL CLASSIFICATION:	SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211]
		IRS NUMBER:				111796714
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-05703
		FILM NUMBER:		08888018

	BUSINESS ADDRESS:	
		STREET 1:		885 THIRD AVENUE
		STREET 2:		SUITE 1720
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
		BUSINESS PHONE:		2126442400

	MAIL ADDRESS:	
		STREET 1:		885 THIRD AVENUE
		STREET 2:		SUITE 1720
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MICHAELS J INC
		DATE OF NAME CHANGE:	19950221
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>form_8-k.htm
<DESCRIPTION>FORM 8-K
<TEXT>

<HTML>

<HEAD><TITLE></TITLE></HEAD>
<BODY>
<HR WIDTH="100%" SIZE="4" noshade style="margin-top: -5px">
<HR WIDTH="100%" SIZE="1" noshade style="margin-top: -10px">
<P ALIGN=CENTER><FONT SIZE=4><B>UNITED
STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B><BR>
<FONT SIZE=3>Washington, D.C. 20549</FONT></FONT></P>

<P ALIGN=CENTER><FONT SIZE=5><B>FORM
8-K</B></FONT></P>

<P ALIGN=CENTER><FONT SIZE=3>CURRENT REPORT</FONT></P>

<P ALIGN=CENTER><FONT SIZE=3>Pursuant to
Section 13 or 15(d) of the<BR>
Securities Exchange Act of 1934</FONT></P>

<P ALIGN=CENTER><FONT SIZE=2>Date of Report
(Date of earliest event reported): June 9, 2008</FONT></P>

<P ALIGN=CENTER><FONT SIZE=6><B>SIEBERT
FINANCIAL CORP.</B><BR>
<FONT SIZE=2>(Exact name of registrant as specified in its charter)</FONT></FONT></P>

<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
<TR style="font-size:1px">
<TD WIDTH="25%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
<TD WIDTH="45%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
<TD WIDTH="30%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P ALIGN=CENTER><FONT SIZE=2><B>New
  York</B></FONT></P>
</TD>
<TD VALIGN=TOP>
<P ALIGN=CENTER><FONT SIZE=2><B>0-5703</B></FONT></P>
</TD>
<TD VALIGN=TOP>
<P ALIGN=CENTER><FONT SIZE=2><B>11-1796714&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P ALIGN="CENTER"><FONT SIZE=2>(State or other jurisdiction of<BR>
  incorporation)</FONT></P>
</TD>
<TD VALIGN=TOP>
<P ALIGN=CENTER><FONT SIZE=2>(Commission File
  Number)</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=2>(IRS Employer Identification<BR>
  Number)</FONT></P>
</TD>
</TR>
</TABLE>

<BR>

<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
<TR style="font-size:1px">
<TD WIDTH="50%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
<TD WIDTH="40%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P ALIGN=CENTER><FONT SIZE=2><B>885
  Third Avenue, New York, New York</B></FONT></P>
</TD>
<TD VALIGN=TOP>
<P ALIGN=CENTER><FONT SIZE=2><B>10022</B></FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P ALIGN=CENTER><FONT SIZE=2>(Address of principal
  executive offices)</FONT></P>
</TD>
<TD VALIGN=TOP>
<P ALIGN=CENTER><FONT SIZE=2>(Zip Code)</FONT></P>
</TD>
</TR>
</table>

<P ALIGN=CENTER><FONT SIZE=2>Registrant&#146;s
telephone number, including area code:
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>(212) 644-2400</B></FONT></P>

<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
<TR style="font-size:1px">
<TD WIDTH="100%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
</TR>
<TR style="font-size:1 px">
<TD VALIGN=TOP style="border-bottom:solid black 1px">&nbsp;

</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P ALIGN=CENTER><FONT SIZE=2>(Former name or former
  address, if changed since last report.)</FONT></P>
</TD>
</TR>
</table>

<P><FONT SIZE=2>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 (see General Instruction A.2. below):</FONT></P>

<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
<TR style="font-size:1px">
<TD WIDTH="5%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
<TD WIDTH="95%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=2 FACE=WINGDINGS>&#168;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=2>Written communications pursuant to Rule 425 under
  the Securities Act </FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=2 FACE=WINGDINGS>&#168;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=2>Soliciting material pursuant to Rule 14a-12 under
  the Exchange Act </FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=2 FACE=WINGDINGS>&#168;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=2>Pre-commencement communications pursuant to Rule
  14d-2(b) under the Exchange Act </FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=2 FACE=WINGDINGS>&#168;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=2>Pre-commencement communications pursuant to Rule
  13e-4(c) under the Exchange Act </FONT></P>
</TD>
</TR>
</table>
<BR>
<HR WIDTH="100%" SIZE="1" noshade style="margin-top: -2px">
<HR WIDTH="100%" SIZE="4" noshade style="margin-top: -10px">
<P STYLE='PAGE-BREAK-BEFORE: ALWAYS'></P><PAGE>

<TABLE ALIGN=CENTER BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
<TR style="font-size:1px">
<TD WIDTH="12%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
<TD WIDTH="88%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=2><B>Item 8.01</B></FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=2><B>Other Events.</B></FONT></P>
</TD>
</TR>
</table>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
June 9, 2008, the board of directors of Siebert Financial Corp. (the &#147;Company&#148;)
declared a dividend of $.10 per share on the common stock of the Company,
payable June 30, 2008, to shareholders of record at the close of business on
June 23, 2008. Chairwoman Muriel F. Siebert has waived her right to receive the
dividend in excess of the aggregate amount of dividend to be paid to other
shareholders. As a result Ms. Siebert will receive a dividend of approximately
$234,000 as compared to the amount of approximately $2,000,000 that would have
been paid on her total holdings. The remaining waived amount of approximately
$1,766,000 will be retained by the Company as capital available for use in its
business. A copy of the press release issued by the Company on June 9, 2008
relating thereto is filed herewith as Exhibit 99.1</FONT></P>

<TABLE ALIGN=CENTER BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
<TR style="font-size:1px">
<TD WIDTH="12%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
<TD WIDTH="88%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=2><B>Item 9.01</B></FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=2><B>Financial Statements and Exhibits.</B></FONT></P>
</TD>
</TR>
</TABLE>

<BR>

<TABLE ALIGN=CENTER BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
<TR style="font-size:1px">
<TD WIDTH="5%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
<TD WIDTH="5%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
<TD WIDTH="90%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=2>(d)</FONT></P>
</TD>
<TD COLSPAN="2" VALIGN=TOP>
<P><FONT SIZE=2>Exhibits.</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=2>99.1</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=2>Press
 Release issued by Siebert Financial Corp., dated June 9, 2008.</FONT></P>
</TD>
</TR>
</table>
<BR>
<HR NOSHADE ALIGN=CENTER WIDTH="100%" SIZE=5><P STYLE='PAGE-BREAK-BEFORE: ALWAYS'></P><PAGE>

<P ALIGN=CENTER><FONT SIZE=2>SIGNATURES</FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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.</FONT></P>

<TABLE ALIGN=CENTER BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
<TR style="font-size:1px">
<TD WIDTH="50%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
<TD WIDTH="4%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
<TD WIDTH="46%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD COLSPAN="2" VALIGN=TOP>
<P><FONT SIZE=2>SIEBERT
 FINANCIAL CORP.</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD COLSPAN="2" VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=2>Date: June
 9, 2008</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=2>By:</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/
 Joseph M. Ramos, Jr.</FONT></P>
</TD>
</TR>
<TR style="font-size:1 px">
<TD VALIGN=TOP>
<P>&nbsp;</P>
</TD>
<TD VALIGN=TOP>
<P>&nbsp;</P>
</TD>
<TD VALIGN=TOP>&nbsp;
<div style="border-bottom:solid black 1px; width:80%"></div>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=2>Joseph M.
 Ramos, Jr.</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=2>Executive
 Vice President and Chief Financial Officer</FONT></P>
</TD>
</TR>
</table>
<BR>
<HR NOSHADE ALIGN=CENTER WIDTH="100%" SIZE=5>


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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>ex99-1.htm
<DESCRIPTION>EXHIBIT 99-1
<TEXT>
<HTML>

<HEAD><TITLE></TITLE></HEAD>
<BODY>

<P ALIGN=right><FONT SIZE=2><B>Exhibit 99.1</B></FONT></P>




<P ALIGN=CENTER><FONT SIZE=2><B>Siebert Financial Corp. Declares Dividend of
Ten Cents Per Share</B></FONT></P>

<P><FONT SIZE=2><B>New York, New York, June 9, 2008</B>
&#150; Directors of Siebert Financial Corp. (NASDAQ: SIEB) declared a dividend of
$.10 cents per share on the Common Stock of the company, payable June 30, 2008,
to shareholders of record at the close of business on June 23, 2008.</FONT></P>

<P><FONT SIZE=2>Chairwoman
Muriel F. Siebert has waived her right to receive the dividend in excess of the
aggregate amount of dividend to be paid to other shareholders. As a result she
will receive a dividend of approximately $234,000 as compared to the amount of
approximately $2,000,000 that would have been paid on her total holdings. The
remaining waived amount of approximately $1,766,000 will be retained by the
company as capital available for use in its business.</FONT></P>

<P><FONT SIZE=2>The Board of
Directors intends to consider the payment of a regular annual dividend during
the second quarter of each year. In considering whether to pay dividends, the
Board of Directors will review the Company&#146;s earnings, capital requirements,
economic forecasts and such other factors as are deemed relevant. Some portion
of the Company&#146;s earnings will be retained to provide capital for the operation
and expansion of its business.</FONT></P>

<P><FONT SIZE=2>Siebert
Financial Corp. is a holding company that conducts all its operations through
its wholly owned subsidiary, Muriel Siebert &amp; Co., Inc. (&#147;Siebert&#148;), a
member of the New York Stock Exchange. Municipal investment banking activities
are conducted by Siebert, Brandford, Shank, &amp; Co., LLC, a separate affiliate
of Siebert specializing in municipal and other fixed income underwriting and
financial advisory business.</FONT></P>

<P><FONT SIZE=2>Siebert is
based in New York City with additional retail branches in Boca Raton, Surfside,
Palm Beach and Naples, FL; Beverly Hills, CA and Jersey City, N.J. In addition,
Siebert, Brandford, Shank &amp; Co., LLC, has offices in Atlanta, Anchorage,
Chicago, Dallas, Detroit, Fort Worth, Houston, Los Angeles, Miami, New York,
Oakland, Orlando, San Antonio, San Diego, Seattle, Washington, D.C. and
Weehawken.</FONT></P>

<P><FONT SIZE=2><I>Statements in this press release concerning
the Company&#146;s business outlook or future economic performance, anticipated
profitability, revenues, expenses or other financial items, together with other
statements that are not historical facts, are &#147;forward-looking statements&#148; as
that term is defined under the Federal Securities Laws. Forward-looking
statements are subject to risks, uncertainties and other factors which could
cause actual results to differ materially from those stated in such statements.
Such risks, uncertainties and other factors include, changes in general
economic and market conditions, fluctuations in volume and prices of
securities, changes and prospects for changes in interest rates and demand for
brokerage and investment banking services, increases in competition within and
without the discount brokerage business through broader service offerings or
otherwise, competition from electronic discount brokerage firms offering
greater discounts on commissions than Siebert, prevalence of a flat fee environment,
decline in participation in equity or municipal finance underwriting, decreased
ticket volume in the discount brokerage division, limited trading
opportunities, increases in expenses, changes in net capital or other
regulatory requirements. As a result of these and other factors, Siebert may
experience material fluctuations in its operating results on a quarterly or
annual basis, which could materially and adversely affect its business,
financial condition, operating results, and</I></FONT></P>

<HR NOSHADE ALIGN=CENTER WIDTH="100%" SIZE=5><P STYLE='PAGE-BREAK-BEFORE: ALWAYS'></P><PAGE>

<P><FONT SIZE="2"><I>stock price, as well as other
risks detailed in the Company&#146;s filings with the Securities and Exchange
Commission. Although the Company believes that the expectations reflected in
&#147;forward-looking statements&#148; are reasonable, it cannot guarantee future results,
levels of activity, performance or achievements. Accordingly, investors are
cautioned not to place undue reliance on any such &#147;forward-looking statements,&#148;
and the Company disclaims any obligation to update the information contained
herein or to publicly announce the result of any revisions to such
&#147;forward-looking statements&#148; to reflect future events or developments. An
investment in Siebert involves various risks, including those mentioned above
and those, which are detailed from time to time in Siebert&#146;s Securities and
Exchange Commission filings. Copies of the company&#146;s SEC filings may be
obtained by contacting the company or the SEC.</I> </FONT> </P>

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