Exhibit 31.2



CERTIFICATION
  PURSUANT TO EXCHANGE ACT RULES 13A-14 AND 15D-14,
  AS ADOPTED PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I,Joseph M. Ramos, Jr., certify that:



|1. |  | I
          have reviewed this quarterly report on Form 10-Q of Siebert Financial
          Corp.;
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|2. |  | Based on my
        knowledge, this report does not contain any untrue statement of a material
        fact or omit to state a material fact necessary to make the statements
        made, in light of the circumstances under which such statements were made,
        not misleading with respect to the period covered by this report;
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|3. |  | Based on my
        knowledge, the financial statements, and other financial information included
        in this report, fairly present in all material respects the financial
        condition, results of operations and cash flows of the registrant as of,
        and for, the periods presented in this report;
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|4. |  | The
        registrant's other certifying officer and I are responsible for establishing
        and maintaining disclosure controls and procedures (as defined in Exchange
        Act Rules 13a-15(e) and 15d-15(e)) for the registrant and have:
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| | a) |  | Designed such
        disclosure controls and procedures, or caused such disclosure controls
        and procedures to be designed under our supervision, to ensure that material
        information relating to the registrant, including its consolidated subsidiaries,
        is made known to us by others within those entities, particularly during
        the period in which this report is being prepared;
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| | b) |  | Evaluated
        the effectiveness of the registrant's disclosure controls and procedures
        and presented in this report our conclusions about the effectiveness of
        the disclosure controls and procedures, as of the end of the period covered
        by this report based on such evaluation; and
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| | c) |  | Disclosed
        in this report any change in the registrant's internal control over financial
        reporting that occurred during the registrant's most recent fiscal quarter
        (the registrant's fourth fiscal quarter in the case of an annual report)
        that has materially affected, or is reasonably likely to materially affect,
        the registrant's internal control over financial reporting; and
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|5. |  | The registrant's other certifying
        officer and I have disclosed, based on our most recent evaluation of internal
        control over financial reporting, to the registrant's auditors and the
        audit committee of the registrant's board of directors (or persons performing
        the equivalent functions):
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| | a) |  | All significant
        deficiencies and material weaknesses in the design or operation of internal
        control over financial reporting which are reasonably likely to adversely
        affect the registrant's ability to record, process, summarize and report
        financial information; and
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| | b) |  | Any fraud,
        whether or not material, that involves management or other employees who
        have a significant role in the registrant's internal control over financial
        reporting.
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|August 14, 2003 |  |  |  | /s/Joseph M. Ramos, Jr. |  |                                                                                                                               | 
|--------------- |  |  |  | ----------------------- |  | ----------------------------------------------------------------------------------------------------------------------------- | 
|                |  |  |  | Name:                   |  | Joseph M. Ramos, Jr.                                                                                                          | 
|                |  |  |  | Title:                  |  | Executive Vice President and
          Chief Financial Officer
        (principal financial and accounting
          officer) |