Company: RILYN
Filing Date: 2025-05-01
Form Type: CORRESP
Source: 0001213900-25-038023
Chunk: 9

Company: B. Riley Financial, Inc.
Filing Date: 2025-05-01
Form: CORRESP
Chunk 9
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 please revise                                             
 to provide additional detail, including any underlying causes, related to the trading losses in your proprietary trading accounts recognized    
 in the Capital Markets segment in 2024. Your MD&A disclosure should inform an investor about the quality of, and potential variability          
 of your revenue, earnings and cash flow, so an investor can ascertain the likelihood that past performance is indicative of future performance. |

Response to Comment 7:

The Company respectfully acknowledges the Staff’s
comment, and informs the Staff that in future filings the Company will provide additional detail on these matters, including the 2024
Form 10-K, related to (a) trading losses in our proprietary trading accounts recognized in the Capital Markets segment in 2024 and (b)
disclosure and comments on the quality of, and potential variability of revenue, earnings and cash flows generated.

General

Response to Comment 8:

The Company respectfully acknowledges the Staff’s
comment, and informs the Staff that the Company will provide additional disclosure in future filings, including the 2024 Form 10-K, related
to the importance of our Senior Notes to our operations and liquidity.

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| B. Riley Financial, Inc.|  www.brileyfin.com | NASDAQ: RILY | 7 |

Please direct your questions
or comments regarding the Company to me at (818) 746-9194. Thank you for your assistance.

| Sincerely,               |                         |
| B. Riley Financial, Inc. |                         |
| By:                      | /s/ Phillip Ahn         |
|                          | Phillip Ahn             
 Chief Financial Officer |

| cc: |     | Howard Weitzman |

Alan N. Forman, Esq.

B. Riley Financial, Inc.

Patrick S. Brown, Esq.

Sullivan & Cromwell LLP

Richard Cooke

CBIZ, Inc.

| B. Riley Financial, Inc.|  www.brileyfin.com | NASDAQ: RILY | 8 |