3. Discontinued Operations	9 Months Ended
Sep. 30, 2015
Discontinued Operations
3. Discontinued Operations	In April 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) ASU No. 2014-08, Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity. ASU No. 2014-08 changes the definition of a discontinued operation to include only those disposals of components of an entity that represent a strategic shift that has (or will have) a major effect on the entity’s operations and financial results. ASU No. 2014-08 is effective prospectively to all new disposals in components (including equity method investees) and new classification as held for sale beginning in fiscal years beginning after December 15, 2014 with early adoption permitted. The company adopted this update in 2015. The revised standard cannot be applied to a component that was previously disposed of that was initially precluded from discontinued operations because of significant continuing involvement even when there are subsequent changes in the activities with a disposed component that would no longer preclude discontinued operations (see Note 2). On November 9, 2015, Siebert sold its 49% membership investment in SBSF pursuant to a plan to sell and reflected negotiations that had commenced prior to September 30, 2015 (see Note 13). Accordingly, such investment has been classified as available for sale on the statement of financial condition by September 30, 2015. The sale of the investment in SBSF which was accounted for by the equity method represent a strategic shift for the company based on its significance to the Company’s consolidated financial condition and results of operations and the effect it will have on the Company’s operations and financial result and accordingly Siebert’s share of operating results of the investment are reflected as discontinued operations for all periods presented. In addition, the investment was sold for $8,000,000, which was approximately $564,000 less than the carrying value of the investment at September 30, 2015 adjusting the carrying value of the investment for Siebert’s equity in SBSF’s results of operations for the quarter ended September 30, 2015. Further, no distributions was recorded from SBSF during the period from October 1, 2015 through November 9, 2015. Accordingly, a $564,000 write down of the investment has been recorded in discontinued operations for the quarter ended September 30, 2015, to reflect the investment at fair value as determined by its selling price.

3. Discontinued Operations

9 Months Ended

Sep. 30, 2015

In April 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) ASU No. 2014-08, Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity. ASU No. 2014-08 changes the definition of a discontinued operation to include only those disposals of components of an entity that represent a strategic shift that has (or will have) a major effect on the entity’s operations and financial results. ASU No. 2014-08 is effective prospectively to all new disposals in components (including equity method investees) and new classification as held for sale beginning in fiscal years beginning after December 15, 2014 with early adoption permitted. The company adopted this update in 2015.

The revised standard cannot be applied to a component that was previously disposed of that was initially precluded from discontinued operations because of significant continuing involvement even when there are subsequent changes in the activities with a disposed component that would no longer preclude discontinued operations (see Note 2).

On November 9, 2015, Siebert sold its 49% membership investment in SBSF pursuant to a plan to sell and reflected negotiations that had commenced prior to September 30, 2015 (see Note 13). Accordingly, such investment has been classified as available for sale on the statement of financial condition by September 30, 2015. The sale of the investment in SBSF which was accounted for by the equity method represent a strategic shift for the company based on its significance to the Company’s consolidated financial condition and results of operations and the effect it will have on the Company’s operations and financial result and accordingly Siebert’s share of operating results of the investment are reflected as discontinued operations for all periods presented. In addition, the investment was sold for $8,000,000, which was approximately $564,000 less than the carrying value of the investment at September 30, 2015 adjusting the carrying value of the investment for Siebert’s equity in SBSF’s results of operations for the quarter ended September 30, 2015. Further, no distributions was recorded from SBSF during the period from October 1, 2015 through November 9, 2015. Accordingly, a $564,000 write down of the investment has been recorded in discontinued operations for the quarter ended September 30, 2015, to reflect the investment at fair value as determined by its selling price.