FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person *   JACOBS ASSET MANAGEMENT, LLC 2. Date of Event Requiring Statement (Month/Day/Year) 10/18/2018 3. Issuer Name and Ticker or Trading Symbol MEDLEY MANAGEMENT INC. [MDLY] (Last) (First) (Middle) 11 EAST 26TH STREET, SUITE 1900 4. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director __X__ 10% Owner _____ Officer (give title below) _____ Other (specify below) 5. If Amendment, Date Original Filed(Month/Day/Year) (Street) NEW YORK, NY 10010 6. Individual or Joint/Group Filing(Check Applicable Line) ___ Form filed by One Reporting Person _X_ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Beneficially Owned

1.Title of Security (Instr. 4) 2. Amount of Securities Beneficially Owned (Instr. 4) 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 4. Nature of Indirect Beneficial Ownership (Instr. 5) Class A Common Stock 573,794 I See Footnotes (1) (2)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.			SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
JACOBS ASSET MANAGEMENT, LLC 11 EAST 26TH STREET SUITE 1900 NEW YORK, NY 10010	Â	  X	Â	Â
JAM PARTNERS, L.P. 11 EAST 26TH STREET SUITE 1900 NEW YORK, NY 10010	Â	  X	Â	Â
JACOBS SY 11 EAST 26TH STREET SUITE 1900 NEW YORK, NY 10010	Â	  X	Â	Â

Signatures

Jacobs Asset Management, LLC, By: /s/ Sy Jacobs		10/26/2018
**Signature of Reporting Person		Date
JAM Partners, L.P., By: /s/ Sy Jacobs, Managing Member of the General Partner		10/26/2018
**Signature of Reporting Person		Date
/s/ Sy Jacobs		10/26/2018
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 5(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	The reported securities are directly owned by JAM Partners, L.P. The reported securities are indirectly beneficially owned by by Jacobs Asset Management, LLC as a result of having investment discretion over certain advisory accounts it manages. The reported securities may also be deemed to be indirectly beneficially owned by Sy Jacobs, as the Managing Member of Jacobs Asset Management, LLC.
(2)	Each of the Reporting Persons disclaim beneficial ownership of the reported securities except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that such Reporting Persons are the beneficial owners of the securities and warrants for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.

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