NOTE: Stipulations of Fact and Consent to Penalty (SFC); Offers of Settlement (OS); and Letters of Acceptance Waiver, and Consent (AWC) are entered into by Respondents without admitting or denying the allegations, but consent is given to the described sanctions & to the entry of findings. Additionally, for AWCs, if FINRA has reason to believe a violation has occurred and the member or associated person does not dispute the violation, FINRA may prepare and request that the member or associated person execute a letter accepting a finding of violation, consenting to the imposition of sanctions, and agreeing to waive such member's or associated person's right to a hearing before a hearing panel, and any right of appeal to the National Adjudicatory Council, the SEC, and the courts, or to otherwise challenge the validity of the letter, if the letter is accepted. The letter shall describe the act or practice engaged in or omitted, the rule, regulation, or statutory provision violated, and the sanction or sanctions to be imposed.

Jupiter Distribution Partners, Inc.
AWC/2009015972701)

The Firm failed to preserve and maintain electronic communication in a non-rewriteable and non-erasable format, and failed to preserve and maintain electronic communication received by and sent to a hand-held electronic device one of its registered representatives operated. The firm failed to have adequate procedures that addressed the retention of electronic communication arising from the use of a hand-held electronic device. The firm failed to prepare accurate net capital computations by erroneously treating revenue received from a customer as being immediately earned, and as a consequence, the firm failed to file an accurate Financial Operational & Combined Uniform Single (FOCUS) Report.

Jupiter Distribution Partners, Inc.: Censured; Fined $20,000

Tags: Electronic Communications