Aik Guan “Frankie” Lim, Scott Thomas Low, Darrell Wayne Wiebe,

FS Financial Strategies Inc., FS Financial Strategies Services Inc.,

3i Capital ClearPath Limited Partnership, FS Financial Services Inc.,

FS Financial Services (Alberta) Inc., Verico FS Capital Inc., and

FS Financial Systems Inc. 

I.  Introduction

1. These are the liability and sanctions portions of a hearing under sections 161(1) and 162 of the Securities Act, RSBC 1996, c. 418.
   
   
2. On February 6, 2017, the Executive Director issued:
   
   a)  a temporary order against Aik Guan “Frankie” Lim, Scott Thomas Low, FS Financial Strategies Inc., FS Financial Services Inc., FS Financial Strategies Services Inc., FS Financial Services (Alberta) Inc., Darrell Wiebe, Chun Ying “Jim” Pan, Chung-Sheng “Johnson” Kao, CC Cornerstone Credit Ltd. (now known as Flexfi Inc.), Afshin Ardalan, WL Strategic Capital Partners Inc., George Lay, Hunter Wei-Shun Wang (aka Hunter Wei Shun Wang), FS Stellar Insurance Services Inc., Nyit Foon “Lydia” Chin, Aike Joo Lim, Verico FS Capital Inc., Gagan Deep Bachra, FS Financial Systems Inc., Chi Kay “Dixon” Wong and Meng Cher “Philip” Tsai (collectively, the Initial Respondents); and
   
   b)  a notice of hearing setting February 17, 2017 to hear the executive director’s application to extend the temporary order until a hearing is held and a decision rendered (2017 BCSECCOM 33).
   
   
3. At various times between February 6, 2017 and February 25, 2020, the Commission  adjourned the hearing of the executive director’s application to extend the Temporary Order to a future date and extended the Temporary Order to the future hearing date, ordered variations to the Temporary Order, and allowed the Temporary Order to lapse against certain respondents.
   
   
4. Over the same time period, the executive director entered into settlement agreements with a number of the Initial Respondents and discontinued these proceedings against them.
   
   
5. On October 24, 2018, the executive director issued an amended notice of hearing against Aik Guan “Frankie” Lim (Lim), Scott Thomas Low (Low), Darrell Wayne Wiebe (Wiebe), FS Financial Strategies Inc., FS Financial Strategies Services Inc., 3i Capital ClearPath Limited Partnership (3i Capital), FS Financial Services Inc., FS Financial Services (Alberta) Inc., Verico FS Capital Inc., FS Financial Systems Inc., and certain other Initial Respondents (2018 BCSECCOM 330).
   
   
6. The companies and limited partnership listed in paragraph 5 above are collectively referred to in this decision as the “FS Group”.  The FS Group, together with Lim, Low and Wiebe, are collectively referred to in this decision as the “Respondents”.

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