FINRA Fines Stash Capital $450,000 for Compliance Failures

Stash Capital LLC has agreed to pay a $450,000 fine and accept a censure to settle charges brought by the Financial Industry Regulatory Authority (FINRA). The regulator found the firm violated multiple rules governing customer identification and anti-money laundering programs.

Between January 2019 and June 2023, Stash Capital failed to establish and maintain a reasonable Customer Identification Program, violating FINRA Rules 3310(b) and 2010. The firm also did not implement an adequate Anti-Money Laundering program designed to detect and report suspicious transactions, breaching Rules 3310(a), 3310(f), and 2010.

Furthermore, during the same period, the firm lacked a written Identity Theft Prevention Program to detect, prevent, and mitigate identity theft, in violation of Regulation S-ID and FINRA Rule 2010. Stash Capital, a FINRA member since August 2017, is a New York-based firm offering online self-directed brokerage accounts.