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
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 firstname.lastname@example.org