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By Prince Moore
Governor of the Bank of Jamaica (BOJ), Richard Byles, is the new board chairman of the Financial Services Commission (FSC).
His appointment was announced Monday by Finance Minister Dr. Nigel Clarke.
Other BOJ executives will also serve on the new FSC board.
They include BOJ's Senior Deputy Governor, Wayne Robinson; Senior Deputy Governor Jide Lewis and Deputy Governor George Roper.
Four current FSC board members will remain.
They are Erwin Burton, former deputy CEO of Grace Kennedy; Dennis Brown, retired partner of PwC; attorney-at-law Kenisha Davis; and Hillary Robertson, senior director at BOJ on secondment to the Ministry of Finance and an advisor in the minister's office.
The appointments took effect today.
Dr. Clarke said the new FSC board will oversee the current intervention in Stocks and Securities Limited, among other immediate tasks, including to establish a mechanism to review the FSC's approach to the SSL case and "identify any gaps or constraints".
The new board will also assess the status of other licencees to determine "whether there are concerns or potential concerns in respect of any company in the securities industry".
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