The Ministry of Financial Services, Labour, and Trade has officially appointed new members to the governing Board of Commissioners of the British Virgin Islands Financial Services Commission.

Mr. Gerard St. Clair Farara KC has been appointed as the Chairman for a three-year term commencing on August 1, 2024. Mr. Farara is a highly experienced financial services professional with a distinguished career in the law. He has served as a Commercial Court Judge of the Eastern Caribbean Supreme Court and as the Senior Partner and Head of Litigation at the BVI office of COLLAS CRILL (previously known as Farara Kerins). Appointed as Queens Counsel in 1996, Mr. Farara is a prominent figure in the Virgin Islands Bar and the Eastern Caribbean.

Ms. Patlian Johnson has been appointed as a Commissioner for a one-year term, also starting on August 1, 2024. Ms. Johnson brings extensive experience as a Strategy and Policy Advisor, currently serving as the National Coordinator of the UNDP Project Office. She holds a Master of Science in Economics and Finance from the University of Bristol and a Bachelor of Science in Economics and Accounting (First Class Honours) from the University of the West Indies, Cave Hill Campus.  

The new commissioners are replacing Mr. Robin Gaul and Mr. Melvin Stoutt, whose terms have concluded.

, Minister of Financial Services, Labour and Trade, Honourable Lorna Smith, OBE, has congratulated both Mr. Farara and Ms. Johnson on their appointments. She stated, "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." The Minister also extended her gratitude to Mr. Gaul and Mr. Stoutt for their years of service and significant contributions to the growth and stability of the financial services sector.

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.