Company: RILYN
Filing Date: 2025-05-01
Form Type: CORRESP
Source: 0001213900-25-038023
Chunk: 0

Company: B. Riley Financial, Inc.
Filing Date: 2025-05-01
Form: CORRESP
Chunk 0
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| 11100 Santa Monica Blvd., Suite 800 
 Los Angeles, CA 90025               
 Tel: ((310) 966-1444                
 www.brileyfin.com                   |

April 30, 2025

Securities and Exchange Commission

Division of Corporation Finance

100 F Street, N.E.

Washington, D.C. 20549-3720

Attention: Michael Volley, Amit Pande, Todd K. Schiffman and James
Lopez

| Re: |     | B.                    
 Riley Financial, Inc. |

Response to Comments dated November 1, 2024

File No. 001-37503

Ladies and Gentlemen:

On behalf of B. Riley Financial, Inc. (“we” or the “Company”),
we submit this letter in response to comments from the staff (the “Staff”) of the Securities and Exchange Commission (the
“Commission”) received by letter dated March 24, 2025, relating to responses to comments dated November 1, 2024. In this letter,
we have recited the comments from the Staff in italicized type and have followed each comment with the Company’s response.

Response dated November 1, 2024

(h) Loans Receivable, page 12

| 1. | Noting you disclose that you elected the fair value option for all outstanding loans receivable, please                               
 tell us how your disclosure that you defer loan origination fees and certain direct origination costs is consistent with the guidance 
 in ASC 825-10-25-3. Please revise future filings as needed.                                                                           |

Response to Comment 1:

The Company respectively acknowledges the Staff’s
comment and advises the Staff that outstanding loans receivables for which the fair value option has been elected are recorded at fair
value at each reporting period in the balance sheet consistent with the guidance in ASC 825-10-25-3. The Company has not recorded an additional
asset for unamortized costs, origination fees, and premiums and discounts in the consolidated balance sheet. In our disclosure for loans
receivable on page 12 an immaterial amount of $292 of the $3,210 at September 30, 2024 relates to upfront fees that will be revised in
future filings to be recorded in earnings pursuant to the guidance in ASC 825-10-25-3. The remaining $2,918 relates to original issue
discount which is included in interest income utilizing the effective interest method. In reporting