UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549


                                    FORM 8-K

                                 CURRENT REPORT


     PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934


         DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED): November 8, 2006

                          FIRST MONTAUK FINANCIAL CORP.
                          -----------------------------
             (Exact name of registrant as specified in its charter)




                         COMMISSION FILE NUMBER: 0-6729
                                                 ------

                NEW JERSEY                           22-1737915
                ----------                           ----------
     (State or other jurisdiction of      (I.R.S. Employer Identification No.)
     incorporation or organization)

                            Parkway 109 Office Center
                             328 Newman Springs Road
                               Red Bank, NJ 07701
              (Address and zip code of principal executive offices)

                                 (732) 842-4700
               (Registrant's telephone number, including area code)




CHECK  THE  APPROPRIATE  BOX  BELOW  IF THE  FORM  8-K  FILING  IS  INTENDED  TO
SIMULTANEOUSLY  SATISFY THE FILING OBLIGATION OF THE REGISTRANT UNDER ANY OF THE
FOLLOWING PROVISIONS:

      |_| Written communications pursuant to Rule 425 under the Securities Act
          (17 CFR 230.425)
      |_| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17
          CFR 240.14a-12)
      |_| Pre-commencement communications pursuant to Rule 14d-2(b) under the
          Exchange Act (17 CFR 240.14d-2(b))
      |_| Pre-commencement communications pursuant to Rule 13e-4(c) under the
          Exchange Act (17 CFR 240.13e-4(c))





Item 5.02    Departure  of  Directors or Certain  Officers;  Election of
             Directors;  Appointment  of Certain  Officers; Compensatory
             Arrangements of Certain Officers

             On November 9, 2006, First Montauk Financial Corp. ("Registrant")
             received the written resignations as directors of the Registrant of
             William Kurinsky and Herbert Kurinsky, effective on November 8 and
             November 9, 2006, respectively. Their resignations had been
             expected. As previously reported in Registrant's Form 8-K, dated
             October 4, 2006, as part of an agreement with the New Jersey Bureau
             of Securities, each of them agreed to resign as a director of the
             Registrant within 30 business days from September 29, 2006.





                                    SIGNATURE

         Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report on Form 8-K to be signed on its
behalf by the undersigned hereunto duly authorized.

                                   FIRST MONTAUK FINANCIAL CORP.

                                   By:   /s/ Victor K. Kurylak
                                         -----------------------------------
                                   Name:  Victor K. Kurylak
                                   Title: President and Chief Executive Officer
                                   Date:  November 10, 2006