Stash Capital LLC has agreed to pay a fine of $450,000 as a part of a settlement with the Financial Industry Regulatory Authority (FINRA).

Between January 2019 and June 2023, Stash Capital failed to establish and maintain a customer identification program that was reasonable in light of the size and nature of the firm’s business and customer base in violation of FINRA Rules 3310(b) and 2010.

Stash Capital also failed to develop and implement an anti-money laundering compliance program reasonably designed to detect and cause the reporting of suspicious transactions in violation of FINRA Rules 3310(a), 3310(f), and 2010.

During the same period, the firm also failed to develop and implement a written Identity Theft Prevention Program reasonably designed to detect, prevent, and mitigate identity theft in violation of Rule 201 of Regulation S-ID of the Securities Exchange Act of 1934 and FINRA Rule 2010.

On top of the $450,000 fine, the firm has agreed to a censure.

Stash Capital LLC has been a FINRA member since August 2017. The firm, which is headquartered in New York, New York, offers self-directed investing through online brokerage accounts.