Goldman Sachs terminates clearing agreements with Siebert's WPS; future periods materially adversely affected

SIEBERT FINANCIAL CORP

On Aug 30, 2021, GSCO notified WPS (Siebert subsidiary) of termination of clearing agreements; GSCO clears most WPS customer trades.
Termination will not materially adversely affect Siebert's 2021 net income, but will materially adversely affect future results.
Siebert expects revenue/net income growth from other business lines to substantially offset WPS's lost revenue and net income.

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