The British Columbia Securities Commission has alleged that a B.C. resident, Aarif Jamani, and three connected companies carried out unregistered trading and advising by selling USD 38.1 million of over-the-counter market securities through Canadian investment accounts on behalf of third parties. BCSC staff allege that 1207124 B.C. Ltd., 0985358 B.C. Ltd., and Meximara Holdings Ltd. used 1207124 B.C. Ltd.’s accounts at five Canadian investment dealers to deposit and sell shares obtained from third parties between 2019 and 2022, largely involving issuers quoted on the OTC Pink Open Market. Jamani allegedly paid approximately CAD 26 million to third parties through the three companies, directed some of the sales, acted on behalf of 1207124 B.C. Ltd., and as a director or de facto director is alleged to have authorized, permitted, or acquiesced in the companies’ contraventions of British Columbia’s Securities Act. The allegations have not been proven. The Commission requires the respondents or their counsel to appear at the BCSC’s offices on September 9, 2025 if they want to be heard before a hearing is scheduled.
British Columbia Securities Commission 2025-06-26
British Columbia Securities Commission alleges B.C. resident and three connected companies conducted unregistered trading and advising involving USD 38.1 million of OTC securities
The British Columbia Securities Commission alleges Aarif Jamani and three companies engaged in unregistered trading and advising by selling USD 38.1 million of over-the-counter market securities through Canadian accounts. The companies allegedly used accounts at five Canadian investment dealers to sell shares from third parties between 2019 and 2022, with Jamani directing sales and authorizing contraventions of the Securities Act. The allegations remain unproven.