Got TIPS or BREAKING NEWS? Please call 1-284-442-8000 direct/can also WhatsApp same number or Email ALL news to:newsvino@outlook.com;                               ads call 1-284-440-6666

UPDATE: FSC confirms appointment of Dawn J. Smith

- Smith replaces Jacqueline Wilson who completed her contractual arrangements with the FSC & demitted office in 2012.
Attorney Dawn J. Smith has left the private sector and has been appointed Director of Legal and Enforcement Division of the Financial Services Commission. Her appointment was effective January 2, 2013. Ms Smith, an Indigenous Virgin Islander, is also a member of the Public Service Commission and a former Director of the BVI London House. Photo: BVIFSC
Brodick Penn, the Financial Services Director of Investment Business, has been reported to be heading to the Premier's Office for a secondment. Mr. Penn holds a Bachelor's Degree and LLM in International Tax Planning received in 2005 with certifications in Offshore Financial Centres, AML/Compliance, and Trust and Estate Planning. It is unknown if this move is to groom Mr Penn to take over as Permanent Secretary. Photo: Facebook
Brodick Penn, the Financial Services Director of Investment Business, has been reported to be heading to the Premier's Office for a secondment. Mr. Penn holds a Bachelor's Degree and LLM in International Tax Planning received in 2005 with certifications in Offshore Financial Centres, AML/Compliance, and Trust and Estate Planning. It is unknown if this move is to groom Mr Penn to take over as Permanent Secretary. Photo: Facebook
ROAD TOWN, Tortola, VI- Nearly a week after Virgin Islands News Online first and accurately reported that Attorney Dawn J. Smith had left the private sector and taken up a job with the Financial Services Commission (FSC), the FSC today January 21, 2013 confirmed the appointment of Ms Smith as the new General Counsel/Director, Legal and Enforcement with effect from January 2, 2013.

It said in a press release that Ms Smith replaces Ms Jacqueline Wilson who completed her contractual arrangements with the FSC and demitted office in 2012.

On being appointed General Counsel/Director, Legal and Enforcement, Ms Smith remarked, “the Commission is a key player in our economy and has developed a motivated team of professionals. I am pleased to join the Commission team at this time and look forward to the multi-faceted challenges attached to the General Counsel role.”

Ms Smith will be primarily responsible for providing legal advice to the FSC in relation to the Financial Services Commission Act, 2001 and other supporting financial services legislation.

She will also advise on enforcement action, take conduct of court proceedings in which the FSC is involved and coordinate and execute requests for assistance that the Commission receives from foreign regulatory authorities. In her capacity as Director, Legal and Enforcement, Ms Smith will also serve as the FSC’s representative on many regional financial services committees and working groups.

Managing Director/CEO of the FSC, Robert Mathavious commented that, “The Commission is delighted to be able to recruit such a high caliber legal professional, as Ms. Smith to serve as General Counsel/Director, Legal and Enforcement at this time. Dawn is a BVIslander who brings a wealth of experience both in the private and public sectors that will be a fillip to the Commission. Her passion for excellence in all her undertakings and in seeing young lawyers develop their full potential argurs well for our legal and enforcement teams that she will lead. I look forward to working closely with her and to tapping her immense drive, dedication, energy and knowledge in furthering the development of the Commission and the BVI Financial Services Industry.”

Ms Smith is admitted as a Barrister of the Eastern Caribbean Supreme Court (Virgin Islands). She holds a Bachelor of Liberal Arts (cum laude) from Middlebury College - Vermont, USA, a Bachelor of Laws (upper Second Class Honours) from the University of the West Indies - Cave Hill Campus, Barbados and a Certificate of Legal Education from the Norman Manley Law School – Kingston, Jamaica. She is a member of the BVI Bar Association, a Fellow of the Chartered Institute of Arbitrators and is a founding member and currently serves as Chairperson of the BVI Chapter of the Caribbean Branch of the Chartered Institute of Arbitrators.

See Previous story posted on January 15, 2013

FSC shake-ups! Dawn J. Smith in! Brodrick Penn Out!

-Attorney Smith named new head of Legal & Enforcement Division and Penn off to secondment at Premier’s Office

Word just reaching Virgin Islands News Online from our team of reporters and well placed sources inside the ruling National Democratic Party government is that Attorney Dawn J. Smith has left the private sector and taken up a job with the Financial Services Commission (FSC).

Attorney Smith, an indigenous Virgin Islander and the sister of Financial Secretary Neil Smith, has been appointed head of the Legal and Enforcement Division, as Director beginning January 2, 2013.

Attorney Smith, while in the private sector, worked with the law firms of Conyers Dill and Pearman and O’Neal Webster. Ms Smith also had a secondment as the Director of the BVI London Office from 2006-2009.

She is also a member of the Public Service Commission- a constitutional body responsible for promotions, hiring, transfers, termination and appointments of officers in the civil service.

Attorney Smith holds a Bachelor of Laws degree from the University of the West Indies, Barbados and a Certificate of Legal Education from the Norman Manley Law School, Kingston, Jamaica.

She also has a BA in Liberal Arts from Middlebury College, Middlebury, Vermont, USA and several professional credentials, including Fellow, Chartered Institute of Arbitrators and Solicitors, Supreme Court of England and Wales (non-practising), according to this news site’s research.

Attorney Smith’s terms and benefits as the new FSC Director of Legal and Enforcement Division are not immediately known.

Brodrick Penn heads to Premier’s Office

Meanwhile, the same sources have confirmed that Brodrick Penn, the Director of the FSC’ s Investment Business Division, is expected to head to the Office of the Premier for a secondment in the coming weeks.

Mr Penn, who was appointed to his current post at FSC in 2008 as Director of Investment Business, is responsible for regulation and supervising mutual funds and investment business in the Virgin Islands.

He also provides assistance in the development of the regulatory regime for investment business in the jurisdiction, and advises the commission on strategic and operational issues related to the funds and investment industry.

Mr Penn, who has years of experience in the Financial Services Sector, is also a graduate of Eastern Illinois University and holds a Bachelor’s Degree.

Penn's other professional qualifications include an LLM in International Tax Planning received in 2005 with certifications in Offshore Financial Centres, AML/Compliance, and Trust and Estate Planning.

It is unclear if he is been groomed to take over as the Permanent Secretary from Mrs. Rosalie Adams who is on a two year contract. The terms and conditions of Mr. Penn’s secondment to the Premier’s Office are not immediately known.

Both Penn and Smith could not be reached for comments. 

47 Responses to “UPDATE: FSC confirms appointment of Dawn J. Smith”

  • ... (15/01/2013, 07:56) Like (13) Dislike (12) Reply
    dem both born here so wah's dey issue?
    • Slim Jim (15/01/2013, 09:57) Like (19) Dislike (1) Reply
      That is a shallow, not-very-well-thought-out comment. Regardless of where these people come fro, the question remains of why would this move be made? Is there dissatisfaction with the way things were conducted under Mr. Penn's tenure? Is his move at his request o an effort to groom him for greater responsibilities? Is there a political reasoning behind it? Was there anyone already in that division who was qualified to assume the leadership post or was there a lack of succession planning? Or maybe, they were just looking for a way to bring Dawn back in?
      I don't know, but these are the questions that do need to be asked because at the end of the day when the BVI suffers it usually isn't because of the evil doings of the non-belongers but because our "own people" screw us out of house and home with their greed, corruption, nepotism and other cronyisms. It's a changing world and we need to be awake, aware and vigilant that we aren't destroying in minutes what took years to build up for the sake of thirty pieces of silver or a bag of fool's gold.
      • At Slim Jim (15/01/2013, 10:56) Like (9) Dislike (3) Reply
        Slim Jim, Dawn is head of Legal and Enforcement and Brodrick is head of Investment Business. These are two separate divisions so Dawn's appointment had nothing to do with Brodrick's departure. They just coincidentally happened at the same time. Brodrick is well respected both at the FSC and in the industry so this had nothing to do with any dissatisfaction with him in his capacity as director. The other questions you have are more personal and I am not sure that they need to be addressed on this forum.
        • Kudos to "At Slim Jim" (15/01/2013, 12:27) Like (2) Dislike (1) Reply
          I agree. Both are different posts within the organization. The post that Ms. Smith is appointed to, was actually held by a non local. So I say KUDOS!! to the decision makers.
        • mother hen (15/01/2013, 13:28) Like (0) Dislike (0) Reply
          But they're not.
  • voter (15/01/2013, 09:04) Like (18) Dislike (0) Reply
    NDP does take good care of its own!!!
  • u would know (15/01/2013, 09:11) Like (2) Dislike (0) Reply
    so whats the connection
  • Mark (15/01/2013, 09:13) Like (15) Dislike (0) Reply
    Congratulation to them both. It's nice to see when our people progressing. Though I am no real fan of VINO I must give them props for what I am sure is accurate reporting.
  • Fed Up (15/01/2013, 09:17) Like (8) Dislike (1) Reply
    I agree there is no issue here the BVI people are proud of them both and they will do there best reguardless of which office they hold congradulations to them both and all the best continue to make the BVI people proud.
  • smh (15/01/2013, 09:37) Like (14) Dislike (41) Reply
    I trying figure out where indigenous fit in the article?
    • b**** hodge (15/01/2013, 11:59) Like (8) Dislike (23) Reply
      dont think any Caribs or Arawaks applied for either job
    • long look me come from (15/01/2013, 19:56) Like (3) Dislike (1) Reply

      Its a dam fact that dawn is indigenous so what the @#$ you tring to figure? get your @#$$ back on the banana boat or aa next flight

      • mAN uP (16/01/2013, 11:58) Like (0) Dislike (0) Reply
        I AGREEE 100 % WHENEVER LOCALS SPEAK ABOUT THEIR ROOTS IT’S A PROBLEM TO SOME FOOLS
  • Ha! (15/01/2013, 09:45) Like (2) Dislike (2) Reply
    Great move for Brodrick! He will bring some decent knowledge and experience to the Premier's Office.
  • critic (15/01/2013, 10:10) Like (15) Dislike (3) Reply
    can you imagine, a whole family on the government nipples?
  • smh (15/01/2013, 10:10) Like (9) Dislike (0) Reply
    So why is this a shake-up???
    • east end rules (15/01/2013, 17:33) Like (0) Dislike (0) Reply
      This is nothing more than two people who are very good what they do getting another opportunity to serve the great little nation!!
  • ooooo (15/01/2013, 10:11) Like (6) Dislike (3) Reply
    all NDP rewards
  • congrats dawn & brodrick (15/01/2013, 10:22) Like (4) Dislike (2) Reply
    hands down Dawn Smith can do her work so no question on her appointment. She did really good with the London Office and she can no doubt take this division to bigger and better things!

    I always wondered why greater empahsis wasn't placed on financial service within the government and rather having a statutory body oversea with no realy intigration with the Min of Finance or the Premier's Office. At least now something new is being introduced which would only strengthen this division...We certainly need new investment and no greater way to promote 2 QUALIFIED locals to these essential posts....Congrats to you both!
  • Kindred (15/01/2013, 10:25) Like (17) Dislike (2) Reply
    Just another set of hook ups for the supporters of the NDP! Next......
  • ABC (15/01/2013, 10:30) Like (5) Dislike (0) Reply
    A brilliant woman. Now let us see if the Premier, with Mr Penn on board, will continue to direct potential investors to the Tourist Board as was done in the pass and is continuing.
  • Shara Parlin (15/01/2013, 10:34) Like (6) Dislike (2) Reply
    They both can do the work but its pure politics and ndp madness
  • Dont Get it (15/01/2013, 10:52) Like (4) Dislike (0) Reply
    Its not like Ms. Smith is replacing Mr. Penn, its 2 totally different position. So whats all the noise about. Both see to be moving foward positively in thier careers. What is the proble? dont get it
  • Just a thought ... (15/01/2013, 10:54) Like (4) Dislike (1) Reply
    Maybe both candidates simply wish to have a different professional experience to boost their respective careers. If this is the case, these two appointments appear to be excellent moves on their parts. I question as '???' does, too, why this should be headlined a 'shake-up'. Perhaps, the headline is overly sensationalised as the candidates were not in contention for the same position. I sincerely doubt in Mr. Penn's case that his service to the FSC was in any way unappreciated. We should be careful that we do not disparage the professionalism of our fellow Virgin Islanders for the sake of scoring political points.

    I wish both Ms. Smith and Mr. Penn well in their new positions, if indeed the reporting by VINO is accurate.
  • leotard (15/01/2013, 12:06) Like (1) Dislike (0) Reply
    She is appointed to a completely different division.
  • need (15/01/2013, 13:58) Like (4) Dislike (7) Reply
    two good people we need more of them thinking outside the box
  • ooooo (15/01/2013, 14:43) Like (1) Dislike (2) Reply
    will he be getting the same deal as marlon....two government jobs/checks???
    • to - OOOOOO (15/01/2013, 20:57) Like (0) Dislike (21) Reply
      Didn't you stay home on suspension for 2 years and got full pay from Government, the use of the Government's cell phone for 2 years, and the use of the Government's car for a whole year, again without working? Talk that!!!!
      • ooooo (16/01/2013, 00:53) Like (5) Dislike (0) Reply
        me? Never had a government job in my life!! Last year for the first I got a ham from mark and got the turkey half price!!!
      • BREAKING NEWS (16/01/2013, 08:01) Like (4) Dislike (0) Reply
        Deeds NDP cow birds always trying to accuse every man and women who blogs and trying to figure out who them is? when they are most often dead wrong!!!!
  • 1 (16/01/2013, 00:50) Like (0) Dislike (1) Reply
    Is that news???? Like if nobody knew this about them two before!!!!

  • BVI lawyer (16/01/2013, 06:23) Like (4) Dislike (2) Reply
    I thought Broderick was one of the stronger guys at the FSC, so I am a bit disappointed that he is going. It certainly dispels all those rumours that he was being groomed to take over from RM when he retired. They will need to recruit somebody very good to head the Investment Division in his absence. The number of total fund licences in BVI is going down by about 10% a year and they need someone strong to take a look at the reasons why and move swiftly to remedy the deficiencies. Sadly the FSC seems to have a "Belongers only" policy on recruitment, and there are very, very few Belongers with real experience of the funds industry.

    Dawn should be an extremely good hire for Enforcement. The FSC does not hire nearly enough people who have real private sector experience, and Dawn certainly has plenty of that, so hopefully she will bring that to bear in her new role.
  • Voice of Reason (21/01/2013, 12:54) Like (1) Dislike (0) Reply
    Why should an individuals heritage determine the posts that they are able to apply for? Surely the best person for the job should be paramount over whether they "belong" or not. It's a messed up system . . . .
  • Concern Citizen (21/01/2013, 23:05) Like (0) Dislike (0) Reply
    This article heading name was very in appropriate smith in and penn out. The positions are completely different.
  • ... (21/01/2013, 23:50) Like (1) Dislike (0) Reply
    The lies and denials from both parties would never end
  • dr (22/01/2013, 11:37) Like (0) Dislike (0) Reply
    Well saw VINO RIGHT AS ALWAYS
  • ABC (24/01/2013, 21:05) Like (0) Dislike (0) Reply
    OMG!! This boy is really Dr. Smith's close relative. The more we are together the happier we will be.


Create a comment


Create a comment

Disclaimer: Virgin Islands News Online (VINO) welcomes your thoughts, feedback, views, bloggs and opinions. However, by posting a blogg you are agreeing to post comments or bloggs that are relevant to the topic, and that are not defamatory, liable, obscene, racist, abusive, sexist, anti-Semitic, threatening, hateful or an invasion of privacy. Violators may be excluded permanently from making contributions. Please view our declaimer above this article. We thank you in advance for complying with VINO's policy.

Follow Us On

Disclaimer: All comments posted on Virgin Islands News Online (VINO) are the sole views and opinions of the commentators and or bloggers and do not in anyway represent the views and opinions of the Board of Directors, Management and Staff of Virgin Islands News Online and its parent company.