MFDA issues Notice of Hearing regarding Jeffrey Mark Levy

    TORONTO, July 8 /CNW/ - The Mutual Fund Dealers Association of Canada
("MFDA") today announced that it has commenced disciplinary proceedings
against Jeffrey Levy.
    MFDA staff alleges in its Notice of Hearing that Jeffrey Levy engaged in
the following conduct contrary to the By-laws, Rules or Policies of the MFDA:

    Allegation No. 1: In June 2000, the Respondent made statements to the
    Ontario Securities Commission and the Member regarding the circumstances
    of his disbarment by the Law Society of Upper Canada which were
    misleading or untrue, contrary to MDFA Rule 2.1.1.

    Allegation No. 2: In or around May 2005, the Respondent accepted $150
    from clients CC and EC to prepare, or arrange for the Member to prepare,
    wills for them which he subsequently failed to deliver, contrary to MFDA
    Rule 2.1.1.

    Allegation No. 3: In 2005, the Respondent solicited and accepted $10,000
    from client TC to invest on TC's behalf and thereafter failed to account
    for the monies, contrary to MFDA Rule 2.1.1.

    Allegation No. 4: In April 2006, the Respondent accepted $9,375 in
    remuneration from client JL in respect of investment related services to
    be provided by the Respondent to JL on behalf of the Member, contrary to
    MFDA Rule 2.4.1.

    Allegation No. 5: Commencing March 29, 2007, the Respondent failed to
    cooperate with the MFDA by failing to produce copies of bank statements
    requested by the MFDA and declining to attend an interview for the
    purposes of providing a statement regarding his conduct while an Approved
    Person, contrary to section 22.1 of MFDA by-law No. 1.

    The first appearance in this matter will take place by teleconference
before a Hearing Panel of the MFDA Central Regional Council in the Hearing
Room located at the offices of the MFDA at 121 King Street West, Suite 1000,
Toronto, Ontario on Wednesday, September 10, 2008 at 10:00 a.m. (Eastern) or
as soon thereafter as can be held.
    The purpose of the first appearance is to schedule the date for the
commencement of the hearing on its merits and to address any other procedural
    The first appearance is open to the public, except as may be required for
the protection of confidential matters. Members of the public attending the
first appearance will be able to listen to the proceeding by teleconference.
    A copy of the Notice of Hearing is available on the MFDA website at

    The Mutual Fund Dealers Association of Canada is the self-regulatory
organization for Canadian mutual fund dealers. The MFDA regulates the
operations, standards of practice and business conduct of its 158 Members and
their approximately 75,000 Approved Persons with a mandate to protect
investors and the public interest.

For further information:

For further information: Shaun Devlin, Vice-President, Enforcement,
(416) 943-4672 or

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