SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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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) September 30, 2002
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LADENBURG THALMANN FINANCIAL SERVICES INC.
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(Exact Name of Registrant as Specified in Charter)
Florida 1-15799 65-0701248
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(State or Other Jurisdiction (Commission File (IRS Employer
of Incorporation) Number) Identification No.)
590 Madison Avenue, 34th Floor, New York, New York 10022
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code (212) 409-2000
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Not Applicable
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(Former Name or Former Address, if Changed Since Last Report)
Item 4. Changes in Registrant's Certifying Accountant
(a) Previous independent accountants
(i) Effective September 30, 2002, Ladenburg Thalmann
Financial Services Inc. ("Company") dismissed PricewaterhouseCoopers LLP as its
independent accountants.
(ii) The reports of PricewaterhouseCoopers LLP on the
Company's consolidated financial statements for the past two fiscal years did
not contain an adverse opinion or a disclaimer of opinion and were not qualified
or modified as to uncertainty, audit scope or accounting principles.
(iii) The Company's Audit Committee participated in and
approved the decision to change independent accountants.
(iv) In connection with its audits for the two most recent
fiscal years and through September 30, 2002, there have been no disagreements
with PricewaterhouseCoopers LLP on any matter of accounting principles or
practices, financial statement disclosure, or auditing scope or procedure, which
disagreements if not resolved to the satisfaction of PricewaterhouseCoopers LLP,
would have caused them to make reference to the subject matter of the
disagreement in connection with their reports on the financial statements for
such years.
(v) During the two most recent fiscal years and through
September 30, 2002, there have been no reportable events as defined in Item
304(a)(1)(v) of Regulation S-K.
(vi) The Company requested that PricewaterhouseCoopers LLP
furnish it with a letter addressed to the SEC stating whether or not it agrees
with the above statements. A copy of such letter is attached as Exhibit 16.1 to
this Form 8-K.
(b) New independent accountants
The Company engaged Eisner LLP as its new independent
accountants as of September 30, 2002. During the two most recent fiscal years
and through September 30, 2002, the Company has not consulted with Eisner LLP
regarding (i) the application of accounting principles to a specified
transaction, either completed or proposed, or the type of audit opinion that
might be rendered on the Company's consolidated financial statements, and no
written report or oral advice was provided to the Company concluding there was
an important factor to be considered by the Company in reaching a decision as to
an accounting, auditing or financial reporting issue; or (ii) any matter that
was either the subject of a disagreement, as that term is defined in Item
304(a)(1)(iv) of Regulation S-K and the related instructions to Item 304 of
Regulation S-K, or a reportable event, as that term is defined in Item
304(a)(1)(iv) of Regulation S-K.
Item 7. Financial Statement and Exhibits
(c) Exhibits:
16.1 Letter from PricewaterhouseCoopers LLP dated
October 2, 2002.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Date: October 2, 2002
LADENBURG THALMANN FINANCIAL SERVICES INC.
By: /s/ Victor M. Rivas
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Name: Victor M. Rivas
Title: President and Chief Executive Officer