Exhibit
31.1

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

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|------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |  | 
|I, Muriel F. Siebert,
  certify that:
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|                                      | (1)     I have reviewed
  this quarterly report on Form 10-Q of Siebert Financial Corp.;                                                                                                                                                                                                                                                                                                                 
|                                      |                                                                                                                                                                                                                                                                                                                                                                                                           |  | 
|                                      | (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;                                                                               
|                                      |                                                                                                                                                                                                                                                                                                                                                                                                           |  | 
|                                      | (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;                                                                                                  
|                                      |                                                                                                                                                                                                                                                                                                                                                                                                           |  | 
|                                      | (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:                                                                                                                                                                
|                                      |                                                                                                                                                                                                                                                                                                                                                                                                           |  | 
|                                      | 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;         
|                                      |                                                                                                                                                                                                                                                                                                                                                                                                           |  | 
|                                      | 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                                                                                                      
|                                      |                                                                                                                                                                                                                                                                                                                                                                                                           |  | 
|                                      | 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
|                                      |                                                                                                                                                                                                                                                                                                                                                                                                           |  | 
|                                      | (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):                                                                                          
|                                      |                                                                                                                                                                                                                                                                                                                                                                                                           |  | 
|                                      | 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                                                                                                                
|                                      |                                                                                                                                                                                                                                                                                                                                                                                                           |  | 
|                                      | 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.                                                                                                                                                                                                                 

|                   |     |                       |                              
|------------------ | --- | --------------------- | -----------------------------
|Date: May 16, 2005 | By: | /s/ Muriel F. Siebert
|                   |     |                      
|                   |     |                       | Muriel F. Siebert            
|                   |     |                       | Chairwoman and President     
|                   |     |                       | (principal executive officer)

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