Stonecrest Capital Markets, Inc has agreed to pay a fine of $45,000 as a part of a settlement with the Financial Industry Regulatory Authority (FINRA).

FINRA’s Trade Reporting and Compliance Engine (TRACE) facilitates the mandatory reporting of certain securities transactions and provides increased price transparency to market participants and investors.

From February 2022 through February 2023, Stonecrest failed to re-report 96 TRACE-eligible transactions after they were rejected by TRACE. The firm also inaccurately reported an additional 35 transactions to TRACE.

During the same period, Stonecrest failed to establish and maintain a supervisory system, including written supervisory procedures (WSPs), reasonably designed to achieve compliance with TRACE reporting requirements.

For these violations of FINRA Rules 6730, 3110, and 2010, Stonecrest is censured, fined $45,000, and has agreed to an undertaking to remediate the issues.

Stonecrest Capital Markets, Inc. has been a FINRA member since February 1996. The firm has 43 registered representatives and five branches, including its headquarters in Austin, Texas. The firm engages in a general securities business.