According to FINRA, Mark Elliot Paverman was fined $20,000, suspended from association with any FINRA member firm in any principal capacity for 12 months (effective February 17, 2026 through February 16, 2027), and required to requalify by examination as a General Securities Principal before resuming that role, for causing his member firm to fail to maintain required books and records and for making a false certification to FINRA regarding the firm's record retention arrangements.FINRA found that the firm, acting through Paverman, failed to preserve electronic communications of three of its registered representatives, failed to preserve instant messages for any of its registered representatives, and failed to preserve electronic communications of affiliated personnel at the firm's corporate parent who performed brokerage functions. These records are required to be preserved under Exchange Act Rules 17a-3 and 17a-4, which exist to ensure that regulators and investors have access to documentation of broker-dealer business activities if questions or disputes arise.Paverman also made a false certification to FINRA, representing that his firm had directly contracted with a vendor for record retention services and that the firm had independent access to the records maintained by that vendor. In fact, the contract was between the vendor and the firm's corporate parent—not the firm itself. The firm also did not have independent access to those records. As a result of this false certification, Paverman was unable to provide FINRA with requested information during its examination.Accurate record-keeping and honest certifications to regulators are foundational obligations for broker-dealers and their principals. When principals certify inaccurate information to FINRA, they undermine the regulator's ability to assess compliance and protect investors.For investors, this case illustrates that record-keeping is not just a technical compliance matter—it directly affects the ability of regulators and investors to reconstruct what happened in an advisory relationship if a dispute arises. Investors who believe their broker may not be maintaining proper records should contact FINRA or file a complaint through FINRA's investor complaint portal. Checking FINRA BrokerCheck can also reveal any prior regulatory actions against a broker or principal.