It just gets worse and worse for Frank Quattrone, the onetime technology investment-banking guru.

Two days after Quattrone resigned from Credit Suisse First Boston because of his role in a possible obstruction of justice scheme, securities regulators formally charged him with violating rules in another matter.

The NASD charged the former technology investment banker on Thursday with doling out shares in hot initial public offerings to corporate executives in a bid to win investment-banking business for CSFB. The NASD, formerly known as the National Association of Securities Dealers, has been investigating allegations of "spinning" against Quattrone for months.

Regulators also charged Quattrone with overseeing a system at CSFB that put pressure on research analysts to tout stocks of companies that did banking business with CSFB, a division of

Credit Suisse Group

(CSR)

.

Quattrone's lawyer, Howard Heiss, said, "The NASD charges are completely without merit and represent an unprecedented attempt to take punitive action against an individual for conduct that was legal at the time and widespread throughout the industry."

On Tuesday, Quattrone resigned from CSFB over allegations that stem from a criminal investigation into whether the investment banker tried in December 2000 to impede a regulatory investigation into the firm's IPO practices. Federal prosecutors are trying to determine whether Quattrone attempted to obstruct justice when he advised some of his associates to destroy documents in their file.

Last month, CSFB had placed Quattrone on administrative leave after prosecutors began looking into the obstruction of justice allegation. He resigned after refusing last week to appear before NASD investigators to answer questions about his activity in the document destruction matter.

Quattrone, who faces a potential lifetime ban from the securities business, contends he didn't do anything improper in either case.