Canaccord Capital Corp. is facing a hearing before the Investment Dealers Association of Canada.

In a notice issued yesterday, the IDA said it has scheduled a hearing for April 25 to consider a settlement agreement with Vancouver-based Canaccord over allegations the firm permitted improper trading in one of its own trading accounts.

The notice does not detail the allegations in the case, but says it relates to the firm’s failure to establish procedures to detect improper trading in a pro account, which is an internal account that uses the firm’s own money for trading.

The allegations relate to trades that occurred in the year between November 2001 and November 2002.

The hearing is scheduled for Wednesday, April 25, in Vancouver.