ASC provides reasons for variation and extension of Interim Order against GIC Capital Corp., Maljaars Financial Inc., Jeff Barrie Wilkie, and Robert Jacob Maljaar

CALGARY, AB, Nov. 14, 2025 /CNW/ - An Alberta Securities Commission (ASC) panel has issued a written decision providing reasons for its June 6, 2025 Interim Order: Variation and Extension against GIC Capital Corp., Maljaars Financial Inc., Jeff Barrie Wilkie, and Robert Jacob Maljaar (collectively, the Respondents).

ASC Staff issued a Notice of Hearing against the Respondents on May 13, 2025, alleging that the Respondents perpetrated a fraud on investors and failed to comply with the Interim Cease Trade Order of June 10, 2024.

On June 6, 2025, an ASC panel varied the Interim Order to prohibit the Respondents from trading in all securities, and extended the terms to remain in effect until the proceeding initiated by the Notice of Hearing is finally determined or otherwise concluded.

In its written decision of November 12, 2025, the panel noted the seriousness of the misconduct at issue and found indications that the Respondents were trying to circumvent the Interim Order. The panel extended and broadened the Interim Order "to restrain the Respondents from conduct that poses a risk of harm to investors pending a final determination of the allegations in the Notice of Hearing." 

A copy of the written decision can be found on the ASC website at asc.ca.

A hearing into the merits of the allegations is currently scheduled for March 2026.

The ASC is the regulatory agency responsible for administering the province's securities laws. It is entrusted with fostering a fair and efficient capital market in Alberta and with protecting investors. As a member of the Canadian Securities Administrators, the ASC works to improve, coordinate and harmonize the regulation of Canada's capital markets.

SOURCE Alberta Securities Commission

For further information please contact: For media inquiries: Tanja McMorris, Senior Advisor, Communications, [email protected]; For investor inquiries:  ASC Public Inquiries, Toll Free 1.877.355.4488, [email protected]