Everton McFarlane
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Finance Minister Dr. Nigel Clarke
Everton McFarlane has resigned as Executive Director of the Financial Services Commission (FSC), effective January 31.
Finance Minister Dr. Nigel Clarke made the announcement at a press conference Thursday afternoon.
Kerron Burrell, Chief Prudential Officer in the Bank of Jamaica's Financial Institutions Supervisory Division, will be seconded to act as interim head of the Commission.
The Finance Minister said he will provide further details on Monday regarding the changes.
The Financial Services Commission has been facing scathing criticism over its handling of the billion-dollar fraud scheme uncovered at investment firm, Stocks and Securities Limited (SSL).
Financial analysts have accused the FSC of failing to provide the required regulatory oversight of SSL in order to protect the funds of investors.
The entity also faced public criticism regarding the lack of information provided on Wednesday at its press briefing about the crisis at SSL.
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