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


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.

  

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.

  

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.

  

Denise Reovan 

Member 

Ms. Denise Reovan resident of Virgin Gorda is an attorney whose legal career spanned the private and public sectors and as sole practitioner in her own law firm in the neighbouring US Virgin Islands. Over the years she served as Counsel to the Chief Labour Negotiator, Chief Legal Counsel to the Legislature of the Virgin Islands and Counsel to the Board of Directors of the Government Employees Retirement System.

 

  

Richard Peters 

Member 

Mr. Richard Peters is an attorney who recently retired as the Global Managing Partner of local law firm Harneys. Over the years, he has worked closely with the Government of the Virgin Islands and the FSC as a member of numerous financial services related committees.

 

  

Ian Smith 

Member 

Mr. Ian Smith has enjoyed a long career in both public and private sectors and was most recently Senior Vice President at Banco Popular. Prior to his career in banking, Mr. Smith served as an Economist with the Government of the Virgin Islands. He currently operates a financial, economic and management consulting company and is the Chief Operating Officer of a family owned group of companies.

 

  

Jonathan Fiechter 

Member 

Mr. Jonathan Fiechter is a former bank supervisor who among other activities now serves as a consultant to overseas governments and agencies including the International Monetary Fund and the World Bank. He has extensive expertise in the area of regulation, financial supervision, economic research and risk analysis having previously held the posts of Deputy Director, Monetary and Capital Markets at the IMF and Senior Deputy Comptroller for International and Economic Affairs at the US Office of the Comptroller of the Currency.

 

  

Edward Price 

Member 

Mr. Edward Price is a senior financial industry executive and regulator who has worked for many years in the US and Canada. Mr. Price has vast experience in the areas of banking and insurance supervision, derivatives and risk management and he currently serves as the Deputy Superintendent at the Office of the Superintendent of Financial Institutions in Canada.

 

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