Vancouver brokerage firm Salman Partners Inc. and three company officials are facing possible sanctions following a regulatory probe into alleged violations of equity trading rules.

Market Regulation Services Inc. (RS) has scheduled a hearing into th matter on February 18, at the offices of the TSX Venture Exchange, in Vancouver.

The purpose of the hearing is to consider a Settlement Agreement entered into between RS and Salman Partners Inc., Sameh Magid, William Burk and Ian Todd. The settlement with Salman relates to:

  • Universal Market Integrity Rules (“UMIR”) 3.1 [Undeclared Short Selling];
  • 5.3(6) [Failure to record client consent to trade alongside on a client ticket];
  • 6.2 [Designators and Identifiers];
  • 6.4 [Off-marketplace Trades];
  • 10.11(1) [Audit Trail Requirements]; and
  • UMIR 7.1 and Policy 7.1, relating to trading supervision obligations.

The settlement with Magid and Todd relates to their trading supervision obligations.

The settlement with Burk relates to his supervisory obligations.

No details of the settlement agreement will be released prior to the hearing.