The British Columbia Securities Commission (BCSC) announced that Kazana Financial Inc. has paid CAD 30,000 after facilitating more than CAD 6 million of investment trades without the required registration. Kazana, the administrator of Kazana Mutual Fund Trust, distributed units to 166 investors from 2021 to 2023 without being registered under British Columbia’s Securities Act and without qualifying for an exemption. The BCSC noted that Kazana later registered as an exempt market dealer after obtaining further legal advice, that there was no evidence of investor harm or losses, and that the firm admitted wrongdoing and fully cooperated with the investigation under BC Notice 15-701.
British Columbia Securities Commission 2025-07-25
British Columbia Securities Commission orders Kazana Financial to pay CAD 30,000 for unregistered trading activity
The British Columbia Securities Commission (BCSC) announced Kazana Financial Inc. paid CAD 30,000 for facilitating over CAD 6 million in trades without required registration. Kazana distributed units to 166 investors from 2021 to 2023 without registration or exemption under British Columbia’s Securities Act. The firm later registered as an exempt market dealer, admitted wrongdoing, and cooperated with the investigation, with no evidence of investor harm.