VANCOUVER, Aug. 14 /CNW/ - A Hearing Panel of the Investment Dealers
Association of Canada, appointed pursuant to By-law 20, has imposed discipline
penalties on Xavier Cheng Kuo Li, at all material times a registered
representative at the Richmond office of Edward Jones, a Member of the IDA.
On July 13, 2007, a Hearing Panel considered, reviewed, and accepted a
Settlement Agreement negotiated between Mr. Li and Staff of the IDA's
Enforcement Department. Pursuant to the Settlement Agreement, Mr. Li admitted
to contravening By-law 29.1 in that, during the period from December 2005 to
January 2006, he caused the alteration of instructions on a form that had been
signed without the knowledge and consent of the signatories; he purchased
securities for an account without the knowledge and consent of the account
holders; and he attempted to settle a client complaint without the knowledge
and consent of his employer.
For his misconduct, Mr. Li has been fined $45,000 and must pay $4,000 in
costs; has been assessed a suspension from approval in any registered capacity
with the IDA for a period of six weeks; and must be under close supervision
for a period of 12 months upon registration with an IDA Member firm.
Mr. Li has not been registered with an IDA Member firm since July 6,
For a complete summary of facts, please see IDA Bulletin 3658 at
www.ida.ca or www.accovam.ca.
The Investment Dealers Association of Canada (IDA) is the national
self-regulatory organization of the securities industry. The IDA's mission is
to protect investors, foster market integrity and enhance the efficiency and
competitiveness of the Canadian capital markets. The IDA enforces rules and
regulations regarding the sales, business and financial practices of its
Member firms and their approved persons. Investigating complaints and
disciplining Members and approved persons is part of the IDA's regulatory
For further information:
For further information: Warren Funt, Vice-President, Western Canada,
(604) 331-4750 or firstname.lastname@example.org; Jeff Kehoe, Director, Enforcement Litigation,
(416) 943-6996 or email@example.com