A Toluca Lake stockbroker has been suspended...

A Toluca Lake stockbroker has been suspended from New York Stock Exchange membership for three weeks because of alleged excessive and unauthorized trading in a customer’s account.

David Jeffrey Lane, 30, agreed to the penalty without admitting or denying the allegations, the Big Board said.

The NYSE claimed that Lane, among other things, “engaged in unauthorized trading” and in trading “that was unsuitable and excessive in view of the customer’s net worth” while handling the investment account of a credit union between 1985 and 1988. The credit union was not identified.

At the time, Lane worked for E.F. Hutton and then American Express Co.’s Shearson Lehman Bros. unit, which subsequently acquired Hutton, the NYSE said. Lane has worked at another firm since March, 1989, but that firm was not identified by the Big Board.