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A. BUSINESS ORGANIZATION | 12 Months Ended
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Dec. 31, 2014
A. BUSINESS ORGANIZATION |
| Siebert Financial Corp. (“Financial”), through its wholly - owned subsidiary, Muriel Siebert &Co., Inc. (“Siebert”), engages in the business of providing discount brokerage services for customers, investment banking and equity execution services for institutional clients (representing the capital markets business) and trading securities for its own account. On November 4, 2014, Siebert sold its capital markets business to an affiliate (see Note B). Another wholly owned subsidiary, Siebert’s Women’s Financial Network Inc. (“WFN”) engaged in providing products, services and information devoted to women’s financial needs. In the fourth quarter of 2013, management decided to substantially reduce the resources allocated to the WFN operation (see Note F). In addition, in 2014 we began business as a registered investment advisor through our wholly-owned subsidiary, Siebert Investment Advisors, Inc. (“SIA”). The accompanying consolidated financial statements include the accounts of Financial and its subsidiaries. All significant intercompany accounts and transactions have been eliminated. Financial, Siebert, WFN and SIA collectively are referred to herein as the “Company”.
| The municipal bond investment banking business is conducted by Siebert, Brandford, Shank &Co., L.L.C., a wholly-owned subsidiary of Siebert, Brandford, Shank Financial, L.L.C. (“SBSF”), and related derivatives transactions were conducted by SBS Financial Products Company, LLC (“SBSFP”), non - controlled investees in which the company has a 49% and 33% equity interest respectively, which are accounted for by the equity method of accounting (see Note D). The equity method provides that the Company records its share of the investees’ earnings or losses in its results of operations with a corresponding adjustment to the carrying value of its investment. In addition, the investment is adjusted for capital contributions to and distributions from the investees. Operations of equity investee SBSF are considered integral to the Company’s operations. Operations of equity investee SBSFP ceased in December 2014.
Siebert, Brandford, Shank Financial LLC and Subsidiary |
A. BUSINESS ORGANIZATION | Siebert, Brandford, Shank Financial, L.L.C. (“SBSF” or the “Company”) was organized on November 4, 2014 and through its wholly owned subsidiary, Siebert, Brandford, Shank & Co., L.L.C. (“SBS”), engages in the business of tax-exempt underwriting and related trading activities and, commencing on November 4, 2014, the capital markets business (see Note B). The Company qualifies as a Minority and Women Owned Business Enterprise in certain municipalities.

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- Definition The entire disclosure for the business description and basis of presentation concepts. Business description describes the nature and type of organization including but not limited to organizational structure as may be applicable to holding companies, parent and subsidiary relationships, business divisions, business units, business segments, affiliates and information about significant ownership of the reporting entity. Basis of presentation describes the underlying basis used to prepare the financial statements (for example, US Generally Accepted Accounting Principles, Other Comprehensive Basis of Accounting, IFRS). + References No definition available. + Details
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