BC Regulator Freezes Everything Financial Assets

British Columbia’s securities regulator has extended a freeze on Everything Financial Consultants Inc. (EFCI) and Everything Financial Group (EFG) amid an ongoing fraud investigation, citing the continued risk to investors and market integrity. The British Columbia Securities Commission ruled on July 29, 2026, that a temporary order against the firm and its principal, Peter Cishecki, would remain in place until a full hearing is held and a decision is rendered.

The original order was issued July 15, 2026, with the executive director applying to extend it the following day. According to the commission, staff evidence indicated EFCI and EFG sold debt securities to investors and used new capital to make principal and interest payments to earlier investors. This cycle of payments potentially contravenes the province’s securities Act fraud provisions.

A co-respondent named in the original order gave sworn evidence that no underlying investments existed and that investor deposits were commingled with the firm’s other funds. Banking records submitted by the executive director showed insufficient assets to repay investors, and the executive director pointed to four instances where deposits from newer investors were used to pay out earlier ones.

The commission noted that 32 investment agreements between EFG and investors held a combined value of $9,633,016.85. The products were described to investors variously as term deposits, third-party investments, or GICs. Each carried the same core pitch: a guaranteed return of principal at maturity, a minimum guaranteed rate of return, and the prospect of a higher payout tied to the performance of underlying investments.

The panel—comprising Marion Shaw, Warren Funt, and Jason Milne—found that the executive director had established a prima facie case of fraud. This threshold requires evidence sufficient to support the allegation unless disproven, not a final finding of guilt. The panel weighed the seriousness of the alleged conduct against the risk of further harm to investors and to market integrity before concluding that extending the order was necessary.

A video posted to EFG’s YouTube channel showed Cishecki promoting similar investment products, and sworn evidence indicated he was responsible for EFCI’s business decisions. “Fraud is the most serious misconduct under the Act,” the panel wrote, adding that the evidence appeared to show investors were led to believe their investments were guaranteed “when in fact they were not.”

The extended order bars anyone from trading in or purchasing EFG or EFCI securities, and prohibits EFCI, EFG, and Cishecki from any promotional activity on the firms’ behalf, until the matter is fully heard. While the commission often moves quickly in these situations, this specific case highlights how difficult it can be for regulators to unwind complex financial arrangements once they are in motion. Advisors and compliance teams should look past reassuring labels like “GIC” or “term deposit” and ask hard questions when a product promises guaranteed returns plus upside from unnamed underlying investments.