The allegations read: Sec admin releases 33-8990, 34-59115, december 17, 2008: section 17(a)(2) and (3) of the securities act of 1934 - the securities and exchange commission ("commission") deems it appropriate and in the public interest that public administrative and cease-and-desist proceedings be, and hereby are, instituted pursuant to section 8a of the securities act of 1933 ("securities act") and section 15(b)(6) of the securities exchange act of 1934 ("exchange act") against daniel edward levin ("levin"). Levin offered and sold mutual fund class "a" shares to retail customers without adequate disclosure of material information about the availability of breakpoint discounts for which customers could have qualified. Levin recommended that his customers allocate their investments among seven to ten different fund families. In those instances where levin's recommended allocation qualified customers for breakpoint discounts, he sometimes advised them that they had received discounts. However, levin did not adequately disclose, before customers made investment decisions, all breakpoint discounts for which the customers could qualify in the fund families he recommended, nor did he adequately disclose the breakpoint discounts customers could have received by investing larger amounts in fewer fund families. Levin's customers could have qualified for breakpoint discounts totaling up to $79,981.74. Levin also failed to adequately disclose the financial impact those additional breakpoint discounts could have on the customers' contemplated transactions, and that purchases below the additional breakpoints would result in a greater profit to him. As a result, the customers were not afforded the opportunity to evaluate the desirability of making a qualifying purchase to take advantage of all breakpoint discounts available to them.
