Hugh Wilkens Levey, of New York, New York, a stockbroker formerly registered with Source Capital Group, Inc., was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to cooperate with FINRA in an investigation into allegations that Levey misappropriated funds. Letter of Acceptance, Waiver and Consent, No. 2016051355401 (Jan. 19, 2017).
According to the AWC, FINRA requested that Levey provide recorded testimony before FINRA personnel, based on Rule 8210, as part of FINRA’s investigation into allegations that he misused funds. Apparently, Levey’s counsel reached out to FINRA on December 16, 2016, and stated that Levey acknowledged receipt of FINRA’s request but would not be taking part in any recorded testimony. FINRA found that Levey’s failure to cooperate in this regard was conduct violative of FINRA Rules 2010 and 8210.
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