Siebert Financial Corp. (Siebert) is a holding company. The Company conducts its retail discount brokerage and investment banking business through its wholly owned subsidiary, Muriel Siebert & Co., Inc. Siebert's principal activity is providing Internet and traditional discount brokerage and related services to retail investors and, through its wholly owned subsidiary, Siebert Women's Financial Network, Inc. (WFN), providing products, services and information devoted to women's financial needs. Through its Capital Markets division, Siebert also offers institutional clients equity execution services on an agency basis, as well as equity and fixed income underwriting and investment banking services. In addition, Siebert, Brandford, Shank & Co., L.L.C. (SBS), a company in which Siebert holds a 49% ownership interest, is the Minority and Women's Business Enterprise (MWBE) in the tax-exempt underwriting business in the United States.