Siebert Financial (SIEB) risk factors, FY2025 10-K

Siebert Financial's FY2025 10-K, filed Mar 30, 2026, lists 25 risk factors in 5 groups. Against the prior year's 26: 1 new, 2 dropped, 1 substantially reworded.

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Risk factors listed
255 groups
New this year
1vs 26 last year
Dropped
2since the prior 10-K
Substantially reworded
1of those kept
Section length
6k wordsItem 1A

What the changes say

  • Expanding into new products like Siebert Crypto and investment banking risks straining management resources and internal controls.
  • The public float held by non-affiliates increased to 14,441,440 shares, or approximately 35.3%.
  • Material weaknesses regarding IT controls were removed from the risk section.

What changed since the prior 10-K

New

  • NewRisks Related to Our Business Operations

    New lines of business or new products and services may subject us to additional risks

    Expanding into new lines like investment banking or Siebert Crypto could fail to meet profitability targets or strain internal controls.

Dropped

  • DroppedRisks Related to Our Business Operations

    We previously identified material weaknesses in our internal control over financial reporting and if we fail to maintain an effective system of internal control in the future, this could result in loss of investor confidence and adversely impact our stock price

  • DroppedRisks Related to Our Business Operations

    Certain employees, directors and affiliates of RISE and Siebert own equity in RISE Financial Services, LLC

Reworded

  • 33% rewrittenRisks Related to Our Common Stock

    There may be a limited public market for our common stock; Volatility

    Updated the non-affiliate public float figure to 14,441,440 shares (approximately 35.3%) as of March 24, 2026, compared to the prior year.

All 25 risk factors

Headings as the filing states them, in filing order.

Regulatory Risks

  1. 01Legislation has and may continue to result in changes to rules and regulations applicable to our business, which may negatively impact our business and financial results
  2. 02We are subject to extensive government regulation and to third party litigation risk and regulatory risk which could result in significant liabilities and reputational harm which, in turn, could materially adversely affect our business, results of operations and financial condition
  3. 03We are subject to net capital requirements

Risks Related to Our Technology and Information Systems

  1. 04We rely on information processing and communications systems to process and record our transactions
  2. 05We rely on third-party platforms for information and communications systems
  3. 06Failure to protect client data or prevent breaches of our information systems could expose us to liability or reputational damage
  4. 07We may be exposed to damage to our business or our reputation by cybersecurity breaches
  5. 08An increase in volume on our systems or other events could cause them to malfunction
  6. 09Rapid market or technological changes may render our technology obsolete or decrease the attractiveness of our products and services to our clients

Risks Related to Our Business Operations

  1. 10Potential strategic acquisitions and other business growth could increase costs and regulatory and integration risks
  2. 11We do not own the Muriel Siebert and Siebert names, but we may use them as part of our corporate name pursuant to a license agreement. Use of the names by other parties or the expiration or termination of our license agreement may harm our business
  3. 12Our customers may fail to pay us
  4. 13Our advisory services subject us to additional risks
  5. 14New lines of business or new products and services may subject us to additional risksNew

Risks Related to Our Common Stock

  1. 15There may be a limited public market for our common stock; Volatility33% rewritten
  2. 16Our principal shareholder has significant influence over us
  3. 17Future sales of our common stock in the public market could cause the market price of our common stock to drop significantly, even if our business is doing well
  4. 18Since our common stock started trading on the Nasdaq Capital Market, our common stock has been relatively thinly traded and at times been subject to price volatility. The average daily trading volume from January 1, 2025 to December 31, 2025 was approximately 64,709 shares
  5. 19Our future ability to pay dividends to holders of our common stock is subject to the discretion of our Board of Directors and will be limited by our ability to generate sufficient earnings and cash flows

Risks Related to Our Industry and Market

  1. 20Securities market volatility and other securities industry risk could adversely affect our business
  2. 21Interest rate changes could affect our profitability
  3. 22A prolonged economic slowdown, volatility in the markets, a recession, and uncertainty in the markets could impair our business and harm our operating results
  4. 23There is intense competition in the brokerage industry
  5. 24Lower price levels in the securities markets may reduce our profitability
  6. 25The soundness of other financial institutions and intermediaries affects us

Other Siebert Financial 10-Ks

  • FY2024 10-K risk factors
    26 risks

    Heavy reliance on clearing agents, proprietary technology platforms, and electronic communications for transaction processing. Extensive regulatory oversight from the SEC, FINRA, NYSE, CFTC, and others. Vulnerability to IT material weaknesses, low public float volatility, and key brand licensing expirations in 2026.

    Filed Mar 31, 2025

About this page

The headings are the filing's own. The one-line readings and the overview are automated and can be wrong: read Item 1A of the 10-K for the exact wording.