FINRA Bars Benjamin Jerold Broker Juergen Weber

Juergen Weber (CRD#: 2617323, New York, New York) has been a registered representative of Benjamin & Jerold Brokerage I, LLC between August 29, 2011 and July 25, 2018. FINRA barred Weber in all capacities pursuant to a Letter, Waiver and Consent (“AWC”) #2017056035501 executed on Sept. 5, 2018. FINRA stated that Weber failed to testify in an investigation into his possibly unauthorized trading and unsuitable recommendations.

Benjamin Jerold's Juergen Weber Barred By FINRA

The AWC stated that FINRA launched an investigation into Weber’s alleged sales practice violations in June 2018. Particularly, on June 12, 2018, FINRA requested under Rule 8210 that Weber testify about his activities. Weber then contacted FINRA on August 1, 2018. At that time, Weber stated that he knew that FINRA asked him to testify. Weber then stated to FINRA that he would not appear for testimony. FINRA found that Weber’s failure to testify was a violation of FINRA Rules 8210 and 2010.
FINRA has previously sanctioned Weber for violating FINRA rules. That is, FINRA suspended Weber in all capacities for three months, and fined him $10,000.00 pursuant to LOA# 20070094114 executed on February 5, 2008. For Weber’s unauthorized trading, FINRA found him liable for violating NASD Rule 2110. For exercising discretion in customer accounts without written approval, FINRA found Weber violated NASD Rules 2110 and 2510(b). FINRA stated in the 2008 AWC that he effected twelve total trades constituting purchases and sales of securities in customers’ accounts.
A few months later, on May 18, 2008, the State of Virginia’s Division of Securities and Retail Franchising denied Weber’s registration in the state. According to the Division of Securities, the grounds for denying Weber’s registration were that FINRA suspended Weber for sales practice violations. In fact, the Division of Securities imposed an additional twelve month ban on Weber’s registration, precluding him from registering in the state until May 2009.
Weber’s misconduct was also alleged on September 20, 2005 in reference to his termination from previous employer, Wachovia Securities, LLC. Apparently, Wachovia Securities, LLC discharged Weber for engaging in unauthorized trading.
In addition, on December 5, 2006, a customer filed a complaint concerning Weber’s trading practices. The customer claimed that Weber never obtained the customer’s consent before Weber traded mutual funds in her account. The customer further alleged that Weber excessively traded in the customer’s account and charged commissions that were unreasonable. Wachovia Securities, LLC settled the customer’s complaint on February 21, 2007 for $120,000.00.

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