**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 annual report on Form 10-K of Siebert Financial Corp.; |
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| 2. |   | Based on my        knowledge, this annual 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 annual report; |
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| 3. |   | Based on my        knowledge, the financial statements, and other financial information included        in this annual 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 annual 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 annual report is being prepared; |
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|   | b) |   | Evaluated        the effectiveness of the registrant's disclosure controls and procedures        and presented in this annual 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 annual 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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|   |   |   | /s/   Joseph M. Ramos, Jr.          |   | Date:        March 30, 2004                                             |   |
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|   |   |   |                                                                                            |   | Joseph M. Ramos, Jr.                                                         |   |   |   |
|   |   |   |                                                                                            |   | Chief Financial Officer

(principal financial and accounting        officer) |   |   |   |