D - SUBORDINATED BORROWINGS AND SECURED DEMAND NOTE RECEIVABLE (Tables) (Siebert, Brandford, Shank Financial, LLC and Subsidiary)

12 Months Ended

Dec. 31, 2014

Siebert, Brandford, Shank Financial, LLC and Subsidiary

Subordinated debt

The subordinated debt at December 31 consists of the following:

	2014		2013
Payable to affiliate (a)	$	1,200,000	$	1,200,000
Payable to clearing broker	$	4,000,000		—
	$	5,200,000	$	1,200,000