Juergen Weber of New York New York a stockbroker formerly registered with Benjamin Jerold Brokerage I LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that Weber neglected to cooperate with FINRA when he was investigated for effecting transactions in customer accounts without their written consent and for poorly advising customers of the securities broker dealer. Letter of Acceptance Waiver and Consent No. 2017056035501 (Sept. 5, 2018).
According to the AWC, in July 2018, around the time that Weber had been terminated by Benjamin Jerold Brokerage I LLC, he was subject of a FINRA investigation where the regulator sought to determine if Weber’s trading and investment advice was violative of FINRA Rules. The stockbroker was instructed by FINRA personnel on June 12, 2018 to provide recorded testimony in response to accusations of his unauthorized trading and bad advice. FINRA received a phone call from Weber on August 1, 2018 at which point the stockbroker made clear to the regulator that he would not be making an appearance and providing any recorded testimony since he retired. FINRA determined that Weber’s conduct was violative of FINRA Rules 2010 and 8210.
This is not the first time that Weber has been sanctioned by a securities regulator for engaging in misconduct. In particular, Weber has been fined $10,000.00 and suspended from associating with any FINRA member in any capacity based upon consenting to findings that he effected twelve unauthorized trades in customers’ accounts; and he failed to procure written authorization from customers whose accounts he traded in on a discretionary basis. Weber’s conduct was violative of NASD Rules 2510(b) and 2110.
FINRA Public Disclosure additionally reveals that Weber is referenced in a customer initiated investment related written complaint which was resolved for $120,000.00 in damages supported by allegations that when Weber was employed by Wachovia Securities LLC, unauthorized transactions were executed in the customer’s account; trades were effected by the stockbroker in excessive amounts; and commissions charged on mutual fund transactions were excessive.
Weber was discharged by Wachovia Securities founded on accusations of his unauthorized trading.
