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<SEC-DOCUMENT>0001089355-10-000007.txt : 20100430
<SEC-HEADER>0001089355-10-000007.hdr.sgml : 20100430
<ACCEPTANCE-DATETIME>20100305172519
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001089355-10-000007
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20100305

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:		CORRESP

	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>CORRESP
<SEQUENCE>1
<FILENAME>filename1.htm
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<P ALIGN=CENTER><FONT SIZE=2>March 4, 2010</FONT></P>

<P><FONT SIZE=2><U><B>BY
ELECTRONIC TRANSMISSION</B></U></FONT></P>

<P><FONT SIZE=2>Division of Corporation Finance<BR>
United States Securities and Exchange Commission<BR>
100 F. Street, N.E. <BR>
Washington, D.C. 20549<BR>
Attention: Ms. Cicely LaMothe</FONT></P>

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 <P><FONT SIZE=1>&nbsp;</FONT></P>
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 <P><FONT SIZE=2>Re:</FONT></P>
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 <P><FONT SIZE=2>Siebert Financial Corp.</FONT></P>
 </TD>
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 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
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 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
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 <P><FONT SIZE=2><U>Form 10-K for the Fiscal Year Ended December 31, 2008,</U></FONT></P>
 </TD>
 </TR>
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 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
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 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
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 <P><FONT SIZE=2><U>Form 10-Q for the Fiscal Quarter Ended September 30,
 2009</U></FONT></P>
 </TD>
 </TR>
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 <P><FONT SIZE=1>&nbsp;</FONT></P>
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 <P><FONT SIZE=1>&nbsp;</FONT></P>
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 <P><FONT SIZE=2><U>File No. 001-32248</U></FONT></P>
 </TD>
 </TR>
</TABLE>

<P><FONT SIZE=2>Ladies and Gentlemen:</FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
February 19, 2010, Siebert Financial Corp. (the &#147;Company&#148;) received comments
from the Commission&#146;s staff (the &#147;Staff&#148;) regarding the Form 10-K for the year
ended December 31, 2008 that the Company previously filed on March 31, 2009 and
the Form 10-Q for the quarter ended September 30, 2009 previously filed on
November 16, 2009. The Company&#146;s responses to the comments received on February
19, 2010 appear below. The Staff&#146;s comments are reprinted below followed by the
Company&#146;s responses.</FONT></P>

<P><FONT SIZE=2><I><U><B>Consolidated Statements of Operations, page F-3</B></U></I></FONT></P>

<P><FONT SIZE=2>1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>We have read and considered your
response to comment three. We note that you are presenting your Statement of
Operations using a single-step format; however, such presentation is
inconsistent with the requirements of Rule 5-03 of Regulation S-X. Specifically,
non-operating revenue and expenses should be shown separately from operating revenue
and expenses on your Statement of Operations. Please confirm as to whether you
plan to revise, in future filings, your Statement of Operations so that the
presentation is consistent with Rule 5-03</I></FONT></P>

<P><FONT SIZE=2><I><U><B>Response</B></U></I>: The Company notes your
comment and will ensure that future filings relating to non-operating revenue
and expenses will be shown separately from operating revenue and expenses on
our statement of operations.</FONT></P>

<HR NOSHADE ALIGN=CENTER WIDTH="100%" SIZE=5><P STYLE='PAGE-BREAK-BEFORE: ALWAYS'></P><PAGE>
<P><FONT SIZE=2>Page 2</FONT></P>

<P><FONT SIZE=2><I><U><B>Note I &#150; Financial Instruments with off-balance sheet risk
and concentrations of credit risk, page F-15</B></U></I></FONT></P>

<P><FONT SIZE=2><I>2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; We have read and considered
your response to comment four. Please confirm you plan to expand your
disclosure in future filings to discuss the company&#146;s exposure in the event the
customer does not fulfill their contractual obligation.</I></FONT></P>

<P><FONT SIZE=2><I><B><U>Response</U></B></I>: The Company confirms that our future
filings will disclose material exposure in the event the customer does not
fulfill their contractual obligations.</FONT></P>

<P><FONT SIZE=2>In
addition, the Company hereby acknowledges that (i) the Company is responsible
for the adequacy and accuracy of the disclosure in its filings, (ii) Staff
comments or changes to disclosure in response to Staff comments do not
foreclose the Commission from taking any action with respect to the filing, and
(iii) the Company may not assert Staff comments as a defense in any proceeding
initiated by the Commission or any person under the federal securities laws of
the United States. If you have any further questions or need any further
information regarding this filing, please call the undersigned at (212) 644-2418.</FONT></P>

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 <P><FONT SIZE=1>&nbsp;</FONT></P>
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 <P><FONT SIZE=2>Very truly yours,</FONT></P>
 </TD>
 </TR>
 <TR>
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 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
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 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
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 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
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 <P><FONT SIZE=2>/s/ Muriel F. Siebert</FONT></P>
 </TD>
 </TR>
<TR>
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 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=2>Muriel F. Siebert</FONT></P>
 </TD>
 </TR>
 <TR>
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 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=2>Chief Executive Officer</FONT></P>
 </TD>
 </TR>
</TABLE>

<BR>

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 <TR STYLE="FONT-SIZE:1PX">
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 <P>&nbsp;</P>
 </TD>
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 <P><FONT SIZE=2>cc:</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=2>Jeanne Rosendale, Esq.</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=2>Warren Nimetz, Esq.</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=2>Leonard Leiman, Esq.</FONT></P>
 </TD>
 </TR>
</TABLE>

<BR>

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