Gerard Farara appointed chairman of BVIFSC

Kings Counsel and former High Court judge Gerard Farara has been appointed as chairman of the BVI Financial Services Commission (BVIFSC).

The Ministry of Financial Services announced on Wednesday, September 18 that Farara was one of two new members appointed to BVIFC’s board.

According to a press release by the ministry, Patlian Johnson was appointed as Commissioner, replacing Melvin Stoutt and Robin Gaul as their terms were completed.

Farara and Johnson both began their three-year term on August 1 this year.

Farara comes highly qualified as he previously served as a Commercial Court Judge of the Eastern Caribbean Supreme Court (ECSC) and Senior partner and head of Litigation at the BVI office of COLLAS CRILL. Additionally, he was appointed as Queen’s Counsel in 1996.

Meanwhile, Johnson holds experience as a Strategy and Policy Advisor and current National Coordinator of the UNDP Project Office. Minister of Financial Services and Deputy Premier Lorna Smith expressed congratulations towards the new members.

“I am delighted to welcome Mr Farara and Ms Johnson to the BVIFSC Board of Commissioners. Their combined expertise will be invaluable as we continue to navigate the challenges and opportunities facing the financial services sector, Smith said.

She also expressed her gratitude to Stoutt and Gaul for their work during their time served.

The department stated that these appointments signify the Government of the Virgin Islands’ continued commitment to maintaining a strong and well-regulated financial services industry.

The new Commissioners’ experience and knowledge are expected to contribute significantly to the Commission’s strategic objectives and initiatives, ensuring its continued competitiveness and resilience in the global marketplace.

The BVI Financial Services Commission is a regulatory authority responsible for the regulation, supervision and inspection of all financial services in or from within the BVI.