Opposition Spokesperson on Finance, Planning & The Public Service Julian Robinson - FILE PHOTO
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The Parliamentary Opposition is calling for Finance & The Public Service Minister Fayval Williams to urgently appoint the Appeals Tribunal of the Financial Services Commission (FSC).
The body, established under Section 19 of the Financial Services Commission Act, has been absent since the expiration of the last tribunal's tenure in August 2023. The Act stipulates that the Appeals Tribunal be comprised of three members, appointed by the Minister.
But Julian Robinson, Opposition Spokesman on Finance & The Public Service, says no replacement has been named, leaving appellants without any recourse for more than a year.
Characterising this as "a dereliction of duty on the part of the Holness administration," Mr Robinson urged that it be "rectified speedily."
The Appeals Tribunal is required to play a pivotal role in ensuring accountability and transparency in the financial services sector.
It provides a forum for individuals and entities aggrieved by FSC decisions to have their grievances heard and addressed.
Mr Robinson says its continued absence undermines confidence in the government's regulatory framework, as the mechanism itself is necessary for safeguarding the rights and interests of businesses operating within Jamaica's financial sector.
He says the failure to appoint a new tribunal represents a glaring breakdown in the government's responsibilities to businesses and investors.
"It is important for good governance and accountability within the financial services sector, for individuals or firms, who feel that they have been aggrieved by the FSC, to be able to appeal," he added.
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