Mr Gerard S. Farara KC has been appointed as the Chairman of the BVI Financial Services Commission (BVIFSC) Board for a three-year term commencing August 1, 2024. Photo: GIS/File

Ms Patlian Johnson has been appointed as a Commissioner for the BVI Financial Services Commission (BVIFSC) for a one-year term, also starting on August 1, 2024. Photo: GIS/File

Mrs Kharid T. Fraser, the wife of Opposition Member Hon Julian Fraser, remains on the BVIFSC Board as the Vice-Chair. Photo: VINO/File

The Ministry of Financial Services, Labour, and Trade has officially appointed Mr Gerard St Clair Farara KC and Ms Patlian Johnson to serve as Chairman and Commissioner respectively.

Mr Gerard St Clair Farara KC 

Mr Farara has been appointed as the Chairman for a three-year term commencing August 1, 2024.

According to the Government Information Service (GIS), Farara is a highly experienced financial services professional with a distinguished career in 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.

Patlian Johnson

Ms Patlian Johnson has been appointed as a Commissioner for a one-year term, also starting on August 1, 2024.

According to GIS, 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 F. Gaul and Mr Melvin A. Turnbull, whose terms have concluded.

'Combined expertise will be invaluable'- Hon Smith 

Minister of Financial Services, Labour and Trade, Honourable Lorna G. Smith, OBE (AL), 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, according to GIS, signify the Government of the Virgin Islands’ continued commitment to maintaining a strong and well-regulated financial services industry. It added that 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.

Meanwhile, Kharid T. Fraser, the wife of Opposition Member Hon Julian Fraser, remains on the BVIFSC Board as the Vice-Chair.