IN THE MATTER OF James Percival - Settlement



    WINNIPEG, Aug. 5 /CNW/ - Notice is hereby given that a hearing will be
held before a Hearing Panel of the Investment Dealers Association of Canada
(IDA), on September 16, 2008 in the Kildonan Room of the Delta Winnipeg,
located at 350 St. Mary Avenue, Winnipeg, Manitoba, at 10:00 am or as soon
thereafter as the hearing can be held, to consider whether, pursuant to 
By-law 20.36 of the IDA, the Hearing Panel should accept a Settlement
Agreement entered into between Staff of the IDA and James Percival (the
Respondent).

    The subject matter of the proposed Settlement Agreement concerns
allegations that:

    
    (a)   The Respondent failed to observe high standards of ethics and/or
          conduct in the transaction of his business, and/or engaged in
          business conduct or practice that was unbecoming contrary to IDA
          By-law 29.1, by sharing a financial interest in an account with a
          client;

    (b)   The Respondent failed to observe high standards of ethics and/or
          conduct in the transaction of his business, and/or engaged in
          business conduct or practice that was unbecoming contrary to IDA
          By-law 29.1, by failing to disclose his financial interest in a
          client account to National Bank Financial Ltd. and/or by asking the
          client not to disclose his financial interest in the client
          account; and

    (c)   The Respondent failed to observe high standards of ethics and/or
          conduct in the transaction of his business, and/or engaged in
          business conduct or practice that was unbecoming contrary to IDA
          By-law 29.1, by entering into an agreement to compensate a client
          for account losses.
    

    The IDA formally initiated the investigation into the Respondent's
conduct on November 7, 2006. The violations occurred during the period of
January 2006 to July 2006 when the Respondent was a Registered Representative
with the Winnipeg, Manitoba Branch of the National Bank Financial Ltd. The
Respondent is no longer a registrant with an IIROC-regulated firm.
    The hearing is not open to the public unless and until the Settlement
Agreement has been accepted by the Hearing Panel. If the Hearing Panel accepts
the Settlement Agreement, the Hearing Panel's decision and reasons will be
made available to the public.

    IIROC is the national self-regulatory organization which oversees all
investment dealers and trading activity on debt and equity marketplaces in
Canada. Created in 2008 through the consolidation of the Investment Dealers
Association of Canada and Market Regulation Services Inc., IIROC sets high
quality regulatory and investment industry standards, protects investors and
strengthens market integrity while maintaining efficient and competitive
capital markets. IIROC carries out its regulatory responsibilities through
setting and enforcing rules regarding the proficiency, business and financial
conduct of dealer firms and their registered employees and through setting and
enforcing market integrity rules regarding trading activity on Canadian equity
marketplaces.





For further information:

For further information: Warren Funt, Vice-President, Western Canada,
(604) 331-4750 or wfunt@iiroc.ca; Jeff Kehoe, Director, Enforcement
Litigation, (416) 943-6996, jkehoe@iiroc.ca


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