The allegations read: Nasd rules 2110 and 2510(b): in july 2005, respondent weber executed one unauthorized sale and one unauthorized purchase in the account of a public customer. The proceeds of the unauthorized sale of a closed-end value fund was used for the purchase of a closed-end mutual fund. From september 2003 through september 2005, weber placed ten unauthorized trades in another customer's account. In total, weber executed twelve unauthorized transactions in the accounts of two customers. Weber obtained oral discretionary authority and executed transactions pursuant to this authority in three additional customer accounts, however he did not obtain written discretionary authority and the accounts were not accepted by the firm as discretionary. Weber obtained discretionary authority from customer who was a close family friend. In connection with the discretionary authority, weber executed 123 discretionary transactions in that customer's account from april 2004 through may 2005. Similarly, weber obtained discretion from another customer and exercised discretion on three occasions in july 2005. In addition, weber obtained discretionary authority from a different customer and executed 39 discretionary transactions in her accounts from july 2002 through january 2006.
