First make sure he is not a local administrator else your efforts will be
futile. Of course any user with physical access to a computer and has the
skills, time, and determination can usually become and administrator which
is why it is suggested that you make sure the computer is configured to
boot only from the system hard drive, password protect cmos settings, and
have a locking computer case though even that is not foolproof.
In XP Pro you can edit Group Policy as an administrator to prevent access
to operating system registry editing tools. You can open local Group
Policy via gpedit.msc and go to user configuration/administrative
templates/system to see the options do disable registry editing, the
command prompt, and others. On a stand alone computer however restrictions
will apply to all users though you can reverse them as an administrator
when you need access and then enable them again. The free Microsoft Shared
Computer Toolkit will allow you to put many restrictions on specific user
accounts.
Since you also have evidence of what you might consider malicious activity
you may want to take some sort of disciplinary action or warning of what
will happen if such activity continues. This is not a parenting forum so I
can not recommend anything specific but I know what I would do.
Steve
http://www.microsoft.com/windowsxp/sharedaccess/default.mspx -- Shared
Computer Toolkit