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Enforcement Notice - Hearing - IIROC to Set Hearing Date for Former Toronto Head Trader & Head of Syndication Carlos Vargas


Enforcement Notice - Hearing - IIROC to Set Hearing Date for Former Toronto Head Trader & Head of Syndication Carlos Vargas

Canada NewsWire

TORONTO, Aug. 29, 2018 /CNW/ - An appearance has been scheduled before a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) for the purpose of setting a date for the disciplinary hearing in the matter of Carlos Vargas.

The discipline hearing concerns allegations against Mr. Vargas that:


Between August 2012 and December 2013, Mr. Vargas engaged in improper trading activity when he obtained allocations of new issues to trade for his employer's own pro-trading inventory accounts or his own personal trading accounts in circumstances where he knew or ought to have known he had no or limited retail demand for the new issues, contrary to Dealer Member Rule 29.1.


IIROC formally initiated the investigation into Mr. Vargas' conduct in December 2013. The alleged violation occurred while he was a Registered Representative with the Toronto branches of Global Maxfin Capital Inc. and Chippingham Financial Group Inc., both IIROC-regulated firms. Mr. Vargas is no longer a registrant with an IIROC-regulated firm.

The set date appearance is open to the public, unless the Hearing Panel orders otherwise. The date for the discipline hearing will be made available at

Set Date Appearance:  October 30, 2018 at 10:00 a.m.

Location:  IIROC, 121 King Street West, Suite 2000, Toronto, Ontario

The Notice of Hearing and Statement of Allegations which sets out the allegations is available at:

Documents related to ongoing IIROC enforcement proceedings – including Reasons and Decisions of Hearing Panels – are posted on the IIROC website as they become available. Click here to search and access all IIROC enforcement documents.

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IIROC is the national self-regulatory organization which oversees all investment dealers and their trading activity in Canada's debt and equity markets. IIROC sets high quality regulatory and investment industry standards, protects investors and strengthens market integrity while supporting healthy Canadian 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 debt and equity marketplaces.

IIROC investigates possible misconduct by its member firms and/or individual registrants. It can bring disciplinary proceedings which may result in penalties including fines, suspensions, permanent bars, expulsion from membership, or termination of rights and privileges for individuals and firms.

All information about disciplinary proceedings relating to current and former member firms is available in the Enforcement section of the IIROC website. Background information regarding the qualifications and disciplinary history, if any, of advisors currently employed by IIROC-regulated firms is available free of charge through the IIROC AdvisorReport service. Information on how to make investment dealer, advisor or marketplace-related complaints is available by calling 1 877 442-4322.

SOURCE Investment Industry Regulatory Organization of Canada (IIROC) - General News

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