Governance

Accountability and impartiality are both crucial the success of the FSC. To achieve these objectives, the Financial Services Commission Act establishes a Board of Commissioners. The Board of Commissioners is the governing body of the FSC and is among other things, responsible for:

Establishing policy for the FSC and monitoring and overseeing its implementation Monitoring and overseeing the management of the FSC with the objective of ensuring that the resources of the FSC are utilised economically and efficiently

The Board of Commissioners is comprised of the Managing Director as an ex officio member and not less than four or more than six other members. Persons eligible for appointment to the Board of Commissioners must be fit and proper and possess relevant knowledge, experience and expertise in financial services matters to aid the FSC in the performance of its functions.

Current Members of the BVI FSC Board of Commissioners


Mr. Robin Gaul 

Chairman 

Robin F. Gaul, FCCA was born in Norwich, England.  He was admitted as an Associate of the Chartered Association of Certified Accountants in 1967 and a Fellow in 1976.  Before retiring from private practice, Robin worked as an accountant and financial advisor, and was a partner in the BVI office of KPMG.  Robin has served on various boards and committees in the BVI Public Sector, including the Development Bank of the Virgin Islands and the BVI Electricity Corporation.  He was appointed as Deputy Chairman of the Inaugural Board of the Financial Services Commission in 2002 and Chairman of the Board in May, 2006.

  

Mr. Colin O'Neal

Deputy Chairman

Colin O'Neal, BA, LL.B. was admitted as a barrister in the British Virgin Islands in 1987 and was the founder and managing partner of the law firm O'Neal Webster where he practiced commercial law for nearly twenty years. In 2005 he left the practice of law to become Chief Executive Officer of JOMA (Properties) Ltd., a real estate development and management company in the British Virgin Islands. Over the years, he has served on the boards of several private companies and has served as President of the BVI Bar Association, Chairman of the Public Service Commission, Chairman of Police Advisory Committee, Chairman of the Recreation Trust, member of the Judicial and Legal Services Commission as well as serving on many other public boards and committees. He is a member of the BVI Bar Association, Associate Member of the American Bar Association and member of the Urban Land Institute.

  

Mr. Robert Mathavious 

Managing Director/CEO 

Robert Mathavious was appointed the first Managing Director and Chief Executive Officer of the Financial Services Commission in 2002.

Prior to the establishment of the Commission, Mr. Mathavious enjoyed an illustrious 25 year tenure in public service with the Government of the Virgin Islands . 

As the Managing Director and Chief Executive Officer of the Financial Services Commission Mr. Mathavious is responsible for the administration and operation of the Financial Services Commission. His responsibilities include: the regulation of the BVI’s financial industry; the development of new service and product offerings aimed at developing, and enhancing the attractiveness of the BVI as a situs for legitimate cross border financial services; and liaising with Government and private sector stakeholders in pursuance of this objective.

  

Ms. Eleanor Smith

Member

Eleanor Smith was born in Tortola, British Virgin Islands and is a businessperson within the BVI community. She has previously held management positions within the banking and insurance industries. She was appointed as a member of the Board of Commissioners since the inception of the FSC as an autonomous body in 2002 and has continued to serve in that capacity.

 

  

Mr. E. Walwyn Brewley

Member

E. Walwyn Brewley has been a Commissioner since 2002.

Mr. Brewley began his early career in accounting and auditing before he became a member of the Legislative Council in 1983. He served as the Minister of Communications and Works, from 1983 - 1986 and as a Legislator for 16 years, from 1983 to 1999.

He previously served as the Chairman of the Public Assistance Committee, now Social Development from 2001 - 2003. 

 

  

Mr. Phillip Fenty

Member

Phillip A. Fenty, a native of the island of Grenada and resident of the BVI is a local business owner.  Phillip has extensive banking experience having worked for Barclays Bank, PLC for many years.  He also has substantial accounting experience as he has worked in the area of accounting with AMS now known as Deloitts for more than a decade.  Phillip was appointed as a member of the Inaugural Board of Commissioners in 2002.  He continues to serve in that capacity.

 

  

Mr. Martin  Fuggle, OBE

Member

Martin J. Fuggle, OBE of Middlesex, London , UK has extensive supervisory experience in banking, insurance and investment services.  He has held such key positions as Senior Manager, Bank of England, Supervision  and Surveillance, Consultant (Financial Services), Bermuda Monetary Authority and most recently Chairman and Commissioner (Chief Executive), Gibraltar Financial Services Commission.  Martin was appointed to the Board as external representative in August 2005.

 

 
 

Mr. James Wadham

Member

Mr. James Wadham brings a wealth of knowledge in banking, trustee and corporate services and insurance to the Board from his career which was spent primarily in the financial services industry.  Wadham has advised several governments on a broad spectrum of legislative matters in the offshore financial services area and acts an executive director of a number of world-wide companies.  Mr. Wadham was appointed as an additional Commissioner in February, 2012.

 


Contact Information

British Virgin Islands Financial Services Commission

Pasea Estate
P.O. Box 418
Road Town, Tortola, VG 1110
British Virgin Islands

Tel: 284-494-1324 or 284-494-4190 GMT – 4:00
Fax: 284-494-5016
Hours: Monday-Friday 8:30a.m. - 4:30p.m.
commissioner@bvifsc.vg