An Alberta Securities Commission panel issued a written decision setting out its reasons for the June 6, 2025 interim order variation and extension against GIC Capital Corp., Maljaars Financial Inc., Jeff Barrie Wilkie, and Robert Jacob Maljaar, which prohibits the respondents from trading in all securities and keeps the restrictions in place until the enforcement proceeding is finally determined or otherwise concluded. ASC Staff’s May 13, 2025 Notice of Hearing alleges the respondents perpetrated a fraud on investors and failed to comply with an interim cease trade order dated June 10, 2024. In the written reasons dated November 12, 2025, the panel cited the seriousness of the misconduct at issue and indications the respondents were attempting to circumvent the interim order, and described the extended and broadened restraints as necessary to limit the risk of harm to investors pending a final determination. A hearing on the merits of the allegations is scheduled for March 2026.
Alberta Securities Commission 2025-11-14
Alberta Securities Commission publishes reasons extending interim order banning all securities trading by GIC Capital Corp. and related respondents
The Alberta Securities Commission panel issued a decision extending an interim order against GIC Capital Corp., Maljaars Financial Inc., Jeff Barrie Wilkie, and Robert Jacob Maljaar, prohibiting them from trading in all securities until the enforcement proceeding concludes. The panel cited serious misconduct and attempts to circumvent the interim order as reasons for the extended restraints. A hearing on the merits is scheduled for March 2026.