Argus Equity Partners, Llc

Allegations: FINRA RULE 2010, NASD RULE 2110: TRIPODI'S COUSIN, A REGISTERED REPRESENTATIVE AT ANOTHER MEMBER FIRM, RECOMMENDED AND SOLD VARIABLE ANNUITIES TOTALING $1.37 MILLION TO CUSTOMERS. AFTER THE CUSTOMERS AGREED TO PURCHASE THE ANNUITIES, TRIPODI'S COUSIN FORWARDED THE VARIABLE ANNUITY DOCUMENTS TO TRIPODI TO PROCESS THE TRANSACTIONS AS THE REGISTERED REPRESENTATIVE OF RECORD. TRIPODI PAID HIS COUSIN APPROXIMATELY 50 PERCENT OF THE NET COMMISSIONS GENERATED FROM THE VARIABLE ANNUITY SALES AND RETAINED THE REMAINDER TO PAY LOCAL, STATE AND FEDERAL TAXES AND TO PAY HIMSELF A SMALL FEE. IN TOTAL, TRIPODI PAID HIS COUSIN APPROXIMATELY $50,000 IN COMMISSIONS FROM THE VARIABLE ANNUITY PURCHASES AND FOLLOW-ON INVESTMENTS. TRIPODI DID NOT INFORM HIS MEMBER FIRM OF HIS COMMISSION SHARING ARRANGEMENT WITH HIS COUSIN. Status: Final Sanction Detail: CIVIL AND ADMINISTRATIVE PENALTY(IES)/FINE(S) Summary: WITHOUT ADMITTING OR DENYING THE FINDINGS, TRIPODI CONSENTED TO THE DESCRIBED SANCTIONS AND TO THE ENTRY OF FINDINGS; THEREFORE HE IS FINED $5,000 AND SUSPENDED FROM ASSOCIATION WITH ANY FINRA MEMBER IN ANY CAPACITY FOR THREE MONTHS. THE SUSPENSION IS IN EFFECT DECEMBER 3, 2012 THROUGH MARCH 2, 2013.