Beta Capital Securities LLC d/b/a Creand Securities has agreed to pay a fine of $145,000 as a part of a settlement with the Financial Industry Regulatory Authority (FINRA).

From October 2019 to July 2023, Beta Capital failed to establish and implement an anti-money laundering (AML) program that was reasonably designed to detect and cause the reporting of suspicious transactions.

During the same period, the firm’s AML program also failed to include appropriate risk-based procedures for conducting ongoing customer due diligence.

For these violations of FINRA Rules 3310(a), 3310(f), and 2010, Beta Capital was censured and fined $145,000.

Beta Capital, doing business as Creand Securities, a FINRA member since November 1995, is a self-clearing broker-dealer that offers retail trading in equities and corporate bonds to both domestic and international customers. Beta Capital is headquartered in Miami, Florida and employs approximately 25 registered representatives in a single branch office.