TORONTO, May 19 /CNW/ - A disciplinary hearing in the matter of Jeffrey Mark Levy was held today in Toronto, Ontario before a Hearing Panel of the MFDA's Central Regional Council.
An Agreed Statement of Facts was filed prior to the hearing in which Mr. Levy admitted to a number of facts and allegations set out in the Notice of Hearing dated June 27, 2008. The Hearing Panel found that all of the allegations against Mr. Levy had been established and imposed the following penalties and costs at the conclusion of the hearing:
- A permanent prohibition on Mr. Levy from conducting securities
related business in any capacity while in the employ of, or
associated with, any MFDA Member;
- A fine in the amount of $25,000; and
- Costs in the amount of $2,500.
The Hearing Panel advised that it will issue written reasons for its decision in due course.
A copy of the Notice of Hearing is available on the MFDA web site at www.mfda.ca.
The MFDA is the self-regulatory organization for Canadian mutual fund dealers, regulating the operations, standards of practice and business conduct of its 139 Members and their approximately 73,000 Approved Persons with a mandate to protect investors and the public interest.
SOURCE Mutual Fund Dealers Association of Canada
For further information: For further information: Marco Wynnyckyj, Hearings Coordinator, (416) 945-5146 or email@example.com