WASHINGTON ­— The Securities and Exchange Commission yesterday charged a Houston-based broker with engaging in unauthorized and unsuitable trading on behalf of two Florida municipalities, putting them at risk of losing millions of dollars while reaping more than $14 million in commissions.

In a complaint filed in federal court in Orlando, the SEC charged that Harold H. Jaschke, while associated with the brokerage First Allied Securities Inc., “churned” the accounts of Kissimmee, Fla., and the Tohopekaliga Water Authority, and lied to both customers about his trading practices on their behalf.

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